These are PostBank Foreign Accounts operated in foreign currencies i.e. US Dollars, British Pound and Euros. They can be opened by both individuals as Personal Foreign Transaction Account or companies as Corporate Foreign Accounts.
INDIVIDUAL
Main Features
- Transactions in both foreign and local currencies
- Initial deposit or opening balance of USD 50 for individuals
- Monthly ledger fees USD 5,GBP 4, Euro 5 for individuals
- Minimum balance USD 50 GBP 50, Euro 50
- Account does not earn interest.
- Comes with a personalized IHK Voucher Book
Free cash deposit up to USD/GBP/Euro 3,000 and 0.25% fee on deposits above; 1% fee of face value for a deposit above USD/GBP/Euro 20,000
Foreign cash withdrawal fees:
- USD 5
- GBP 4
- EUR 5
Benefits
- Unrestricted cash and cheque deposits
- Cash withdrawals both in local and foreign currency
- Access to a variety of loan products
- Cash deposit books issued on request.
- Access to Internet and Mobile Phone Banking
- A dedicated Personal Banker to handle all your financial needs.
Individuals
- 3 Passport photographs
- Copy of a valid identification e.g. Driving Permit, Passport, Voters Card
- Initial opening deposit of USD 50.
- Reference from an existing PBU customer or an employer, law firm or a recognized religious leader.
COMPANY
Main Features
- Transactions in both foreign and local currencies
- Initial deposit or opening balance of USD 50,GBP50, Euro50
- Minimum balance USD50 GBP 50, Euro 50
- Monthly ledger fees USD 5,GBP 4, Euro 5
- Account does not earn interest.
- Comes with a personalized IHK Voucher Book
- Free cash deposit up to USD/GBP/Euro 3,000 and 0.25% for deposits above and 1% face value of a deposit above USD/GBP/Euro 20,000
Benefits
- Unrestricted cash and cheque deposits
- Cash withdrawals both in local and foreign currency
- Access to a variety of loan products
- Cash deposit books issued on request.
- Access to Internet and Mobile Phone Banking
- A dedicated Personal Banker to handle all your financial needs.
- 3 passport sized photographs for each signatory
- Valid identification for signatory e.g. driving permits Passport, Voters Card or NSSF Card.
- Reference from known bank customer, employer, law firm or a religious leader.
- Initial deposit of US Dollars 50 or its equivalent.
- Minimum Balance USD 50
- Local currency account and or recommendation from branch manager.
- Certified certificate of incorporation –(for a company)
- Company form 7 (particulars of Directors and secretaries )
- A certified resolution to open an account with PostBank
- Signing Mandate
- Situation of registered office
- Valid mailing and physical address
- A certificate of registration fully certified
Foreign Cash withdrawal Fees
- USD 5
- GBP 4
- EUR 5
How to apply
To open a PostBank Foreign Transaction Account,
- An account opening application form has to be fully filled and handed it over to the Personal Banker at our customer Service desk in the nearest PostBank Branch.
- For proof of identity, forms of identification such as driving license or a valid passport or a national ID card have to be presented; In case you have any other form of identification, you will need a recommendation letter from your employer or local council chairman or a copy of utility bills.
Foreign/ Non- Resident Ugandans
All the above requirements plus:
- Notarized certification of valid passport , residence / Employment ID or driving permit
- Signed Fax/Telephone/E-mail Indemnity
- Original complete documents couriered or scanned and Sent to the dedicated personal Banker.
Diaspora Forex Accounts
Main Features and Benefits
- Initial deposit or opening balance of USD 50, EUR35 and GBP35
- Minimum balance of USD/GBP/EUR 10.
- No monthly fee
- Free Inward swift transfers
- Free registration on Internet Banking
- Free deposits
- 24/7 access to the account
- A recent passport photograph in soft or hard copy valid email address
- Initial deposit of USD/GBP/EUR 50
- Proper documentary identification for example passport, identity card, driving permit
- An introduction letter from either employer or recognised local authority in the -diaspora verified by the public Notary Signing mandate
How to open this account
- Log on to PostBank website (www.postbank.co.ug)
- Click on PostBank Diaspora Classic link page Fill an online account opening form specifying your personal details
- An account opening request notification will be sent to your email, confirming receipt of your account opening request.
- Two links will also be received; the first link has a copy of the system-generated completed account opening form and the second link will enable you to upload the endorsed account opening form and required documents
- The PostBank appointed public Notary will verify the documents for attachment Scan and upload the endorsed account opening form along with soft copies of your account opening documents
These include; internal transfers (PBU account to account), Outward Transfers (From PBU accounts to External Bank Accounts) Inward Transfers (from external banks to PBU accounts)
To initiate a transfer, one has to be an account holder.
- Outward Transfers, the sender needs to have sufficient Beneficiary details i.e. Names, Beneficiary Bank, Account Number, IBAN for Euros, Correspondent Bank details swift code, sort code and purpose of the transfer.
- Inward Transfers, the sender needs to have the beneficiary(PostBank Client) details i.e. Our correspondent Bank, PostBank Account Number / IBAN (in case of Euros) with the correspondent Bank, Correspondent Bank`s Swift code and Payment details which must indicate the PostBank Customer`s Names and account number.
- It is important to note that with Sparkasse Aachen Germany, PostBank is recognized as a Beneficiary Bank therefore recommended for Euro incoming transfers.
Below is the information a customer needs to provide to the remitter in order to receive foreign