Agency Banking
A convenient banking service that brings essential financial services closer to customers through authorized agents, reducing travel time and improving access to formal banking.
Overview
| Target Users | Bank customers seeking faster and more accessible banking services, especially those in areas far from bank branches. |
|---|---|
| Service Purpose | Extending banking services through authorized agents to promote financial inclusion and convenience. |
| Service Model | Banking services provided by EBO Financial Services on behalf of partner banks through agency arrangements. |
Service Availability
Agency Banking services are provided under partnerships with selected commercial banks and are available at EBO branches.
- Available to customers of partner banks.
- Services are offered at designated EBO Financial Services locations.
Services Offered
| Category | Details |
| Cash Transactions |
|
|---|---|
| Transfers & Payments |
|
| Customer Convenience |
|
Partner Banks
Through Agency Banking, customers of selected partner banks can conveniently access banking services at EBO Financial Services branches. Partner banks currently include Stanbic Bank and DFCU Bank.
AGENCY BANKING
Agency banking offers the potential to increase and deepen financial inclusion across Uganda. Following regulations passed in July 2017, banks in Uganda can use agency banking an extension of services traditionally offered in bank branches whereby third parties (agents) own these services on behalf of banks to expand their presence, particularly in rural areas where brick-and-mortar branches are often expensive. For instance, estimates indicate that over 9 million Ugandans need to travel more than an hour to access a bank branch.1 For customers, agency banking means reduced travel time as well as greater access to and increased convenience of formal financial services.
EBO Financial Services has also taken steps to partner with some Banks and provide Agency Banking to people who are far from their banks. These Banks include Stanbic , DFCU.
With this product, clients of Stanbic and DFCU Banks can access several bank services such as cash deposits, withdraws, transfers, bill payments, fees etc at any EBO Branch.
