This post reveals the cost of getting bank statements in Uganda.
How much does a bank statement cost in Uganda?
To answer that question. You have to know which kind of statement you want. Because there are 3 types of bank statements:
a) Firstly, normal statement:
A normal statement is one that you can get online. Or from your bank’s branch. And it is usually for a year or 2.
b) Secondly, duplicate statement:
This is one that is sent to a third party with your authorization.
c) Lastly, interim statement:
This is a financial report covering a period of less than one year.
Below is a table showing the cost of getting bank statements in Uganda (for different banks)
|Normal Statement||Interim Statement||Duplicate Statement||e-Statement via Online Banking|
|ABC Capital||Free||shs3,000 Per Page||shs3,000 Per Page||–|
|Stanbic Bank||shs10,000 Per Month||shs5,000 Per Page||shs5,000 Per Page||Free for the first 6 months|
|KCB Bank Uganda||Free at end of the month, shs 10,000 per page for past months||shs10,000 per page||shs10,000||Free for a year|
|Diamond Bank||shs5,000||shs5,000 For 1 year. More than one year is shs10,000||–||Free for a duration of 1 month.|
|Equity Bank||shs10,000 Per Page||shsh10,000 Per Page||shs10,000 Per Page||Free|
|Housing Finance Bank||shs 20,000||shs2,500||shs2,500||Free|
|Standard Chartered Bank||Free||shs10,000 Per Page||shs10,000 Per Page||Free|
|Afriland||Free||shs5,000 Per Page||shs5,000 Per Page||–|
|ABSA Bank||Free||shs5,000 Per Page||shs5,000 Per Page||–|
|Bank of Africa||Free||shs5,000 Per Page||Nil||–|
|Bank of India||Nil||shs3,500||shs6,000||–|
|Bank of Baroda||shs3,450||shs5,750||shs5,750||–|
|Centenary Bank||shs4,000 per page||shs4,000||shs4,000||–|
|EXIM Bank||Free||shs5,000||shs10, 000 Per Page||–|
|Finance Trust||1 free then charge per page upto max of 100,000||shs2,500Per Page||shs3,500Per Page||–|
|GTBank||free then charge per page upto max of 100,000||shs5,000 Per Page||shs5,000 Per Page||–|
|Orient Bank||shs5,000 Per Page||shs5,000 Per Page||shs5,000 Per Page||–|
|UBA Uganda||1 Free per quarter||shs5,000||shs5,000||–|
What is a bank statement?
A bank statement is an official summary of financial transactions occurring within a given period for each bank account held by a person or business with a financial institution.
Such statements are prepared by the financial institution. The statements are numbered and indicate the period covered by the statement. And may contain other relevant information for the account type. Such as how much is payable by a certain date.
The start date of the statement period is most of the time the day after the end of the previous statement period.
What is a bank statement used for?
Bank statements are commonly used by the customer to monitor cash flow. Check for possible fraudulent transactions. And perform bank reconciliations.
How do I get a bank statement in Uganda?
In the past, bank statements have been printed on one or more pieces of paper. And either mailed directly to the account holder. Or kept at the financial institution’s local branch for pick-up.
In recent years, there has been a shift towards paperless electronic statements. And many financial institutions now also offer direct downloads of financial information into the account holders’ accounting software to streamline the reconciliation process.