Bank of Uganda Sets Cash Withdrawal Limits Starting 2027

The Bank of Uganda (BoU) has announced new over-the-counter cash withdrawal limits that will take effect on January 1, 2027, as part of efforts to promote digital payments and modernize the country’s financial sector.

Under the new guidelines, individual account holders will be limited to withdrawing up to UGX 50 million per day, while corporate and business accounts will be capped at UGX 250 million per day. The limits will apply to accounts held with financial institutions supervised by the central bank.

According to BoU, the move follows a significant shift in consumer behavior, with electronic credit transfers becoming the most widely used payment method. The central bank noted that digital payments continue to grow in both volume and value, reflecting increasing public confidence in electronic transactions.

Despite the changes, BoU acknowledged that some sectors still rely heavily on cash. To address this, supervised financial institutions will be allowed to apply for exemptions for specific transactions or sectors where higher cash withdrawals may be necessary.

The central bank also encouraged customers to embrace available digital payment channels, including Real-Time Gross Settlement (RTGS), Electronic Funds Transfers (EFTs), cards, internet banking, and mobile money-to-wallet services.

BoU says the policy is aimed at building a more innovative, inclusive, and resilient payments ecosystem while supporting Uganda’s broader digital transformation agenda.