Best Bitcoin Exchange for Uganda

Withdraw money free of charge in Uganda “Pearl of Africa” – the beautiful nickname of Uganda, which Winston Churchill gave the country at that time not without reason. The country is considered as the insider tip to experience the unadulterated Africa. All impressions of Africa are combined in Uganda. Cloud forests, jungles, mountains, large water areas and savannahs run through the country and give it its unique beauty.

Safari tours through the national parks and special chimpanzee or even gorilla trekking tours await the tourist. In the following report you will find the most important information about the Ugandan currency, different means of payment and the possibilities to get cash in Uganda. In addition, there are hints on how to avoid the expensive foreign exchange fees of the house banks when withdrawing money in Uganda, and how to withdraw cash in the respective local currency free of charge worldwide. Also relevant for every traveller are the most important security aspects that have to be considered when travelling to Uganda when dealing with means of payment.

Uganda Shilling (UGX) – the national currency

Overview Banknotes Uganda SchillingThe official national currency and means of payment in Uganda is the Uganda Schilling, which is divided into 100 cents. Uganda Shilling is available in coins and banknotes as shown in the table below:

• Coins: 50, 100, 200, 500 Uganda Shilling
• Notes: 1000, 2000, 5000, 10,000, 20,000, 50,000 Uganda Shilling

In Uganda there is no declaration obligation for the import and export of foreign exchange.

Currency exchange in Uganda

The Uganda Shilling is difficult to obtain from German banks, which is why an exchange only makes sense locally. In Uganda, Euros or US dollars are exchanged into the local currency without any problems, whereby the US dollar is also accepted as a direct means of payment. Please note that the issue date of the US dollar notes is not older than 2006.

An exchange in Uganda Shilling is only possible in bigger cities or at the airport, so that one should have stocked up with sufficient cash in the travel fund before travelling to the more rural regions. As a rule, exchange offices offer a better exchange rate than banks. It is therefore worth comparing the exchange rates beforehand.

Cashing traveller’s cheques in Uganda

Traveler’s checks denominated in US dollars can be cashed at banks. Please note, however, that some banks charge up to 10% of the traveller’s cheque value as a fee. In any case, you should ask for an exchange receipt. This is sometimes necessary if you want to exchange money back on departure.

Cashless payment in Uganda

Cashless payment is not yet a matter of course everywhere in Uganda. The credit card is the only and in rare cases cashless means of payment accepted. In a few larger hotels and some airlines in Kampala, payment by credit card is possible. When using the credit card as a means of payment, however, there are also fees for the use of the card abroad, which are between 1 and 4% of the respective invoice amount. In many cases it is therefore cheaper to pay bills in cash.

In order to save the fee for the assignment abroad, there is the conventional payment method of cash payment. In this case, the cash card is used for the purpose of withdrawing money from suitable cash machines. Cash payment does not imply any directly visible fees, but withdrawing money for cash payment is also subject to a fee for EC cards and standard credit cards. One exception is the so-called travel credit card, a worthwhile alternative with which it is possible to withdraw money in local currency free of charge. Read more about this in the following sections.

Withdraw money in Uganda by EC card

Withdrawing money in Uganda with an EC card is only possible in a few banks. The EC card must bear the Maestro logo. With the new V-Pay cards it is generally not possible to withdraw money in Uganda. In the bigger cities of Uganda, there are some ATMs of the Barclays Bank at which one can also withdraw money in the local currency with the EC card. Every day, between 250,000 and 700,000 Uganda shillings are possible per withdrawal, depending on the ATM.

For each withdrawal by EC card in Uganda, the house bank charges a fee of between 5 and 10 euros. The house bank responsible for the use of the EC card at a non-bank or foreign ATM charges this so-called foreign exchange fee. During a trip through Uganda, these fees for foreign assignments can quickly add up to the sum of the withdrawals. For this reason, it saves costs to carry a credit card as an additional means of payment in addition to the EC card. A credit card increases the flexibility of the holidaymaker when withdrawing money in Uganda. If the decision is made in favour of a free travel credit card, the fees that are also charged for standard credit cards will also be waived.

Withdraw money in Uganda by credit card

Visa and Mastercard are the most common means of payment in Uganda. You can use them to withdraw money from suitable ATMs in Uganda without any problems. Mainly in the bigger cities of Uganda there are enough possibilities to buy cash in local currency. Especially when travelling in the surrounding area, it is advisable, because there often the cash payment is the only possibility to pay the bills. The maximum withdrawal amount per day varies from ATM to ATM and ranges between 250,000 and 700,000 Uganda shillings.

Similar to the EC card, the credit card institute charges a foreign assignment fee for common credit cards, which is between 1 and 4% of the amount withdrawn and depends on the credit card contract concluded. The exact amount of the foreign assignment fee can be obtained directly from the credit card institute or read in the General Terms and Conditions. If you want to avoid these fees, you should make use of the services of some online or direct banks. There you will receive a free, so-called travel credit card with which you can withdraw money free of charge in Uganda.

In traveller circles, these credit cards enjoy an increasing popularity, as they are available without annual provision costs and one saves money on every trip abroad. Even if the name “travel credit card” does not reveal it at first glance, there are no charges for third-party use of the credit card when withdrawing money from other banks in Germany. One of these credit cards is therefore not only a cost-saving means of payment for the trip to Uganda, but is also listed as an intelligent long-term solution for everyday use.

The banks that offer such credit cards can be found in the following list. On the website of the bank you can find the application form, which is filled out online and has to be printed out afterwards. The banks offer various ways to identify the account, which is implied free of charge in the contract, and the credit card. The quickest and easiest method is the Post-Ident procedure, for which only a valid identity card or passport is required. This can be done quickly and conveniently together with sending the printed application to a post office. No costs are incurred.

However, a maximum processing time of two weeks must be expected before the card is sent. If you decide on one of these travel credit cards before travelling to Uganda, you should make sure that you apply in good time so that you can take advantage of this card from the first day of your journey in Uganda and save unnecessary costs for each withdrawal procedure, which are normally incurred with all common cards abroad.

Safety when withdrawing money in Uganda

In some parts of Uganda, especially in the border area of Southern Sudan, there are isolated attacks of rebellious locals, these regions should only be visited accompanied by an experienced travel guide. Otherwise, Uganda does not have an above-average crime rate.

When withdrawing money in Uganda, it is important to follow the usual travel precautions in Ireland: The PIN should always be entered in a concealed manner at the ATM, and the separate storage of PIN and card should also be a matter of course. In addition, you should check the card input device for possible tampering before entering the card. The illegal copying of credit cards by manipulation of the machine is on the rise worldwide and poses a not inconsiderable threat to the security of means of payment in Uganda as well. If there is the slightest suspicion of manipulation, it is worth the effort to go to another machine and safely withdraw money there.

In the event of loss or theft, the card blocking emergency call should be contacted immediately. The number can be reached via the following link. By calling, the affected card is blocked immediately and major financial losses can be prevented. The prerequisite is that the number of the blocking emergency call is always carried separately from the card. With this little but helpful information on security and a combination of suitable means of payment in your luggage, you are well prepared for a holiday or business trip to Uganda.