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Diaspora Banking Video | PostBank Uganda Launches a Diaspora Classic Product

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Posted March 8, 2014 by Ugandan Diaspora News Team in Diaspora Banking ~ 3,555 views

     

Post Bank Diaspora Classic Banking is designed mainly for you, a Ugandan residing in a foreign country. Operating this account offers you the opportunity of maintaining an account in Uganda while resident abroad.

PostBank Uganda has dedicated a customer service department under Summit Banking to carter for Diaspora customers. Customers can open a Diaspora Classic account which they can access any time online and transact from any of our branches countrywide once they visit/return to Uganda, or accessible to legally authorized beneficiaries as advised by our Diaspora customers.

Why you need this account

Many Ugandans transfer funds to relatives, friends and acquaintances to meet obligations back home Quite often, it costs too much to go through traditional money transfer or banking processes to send money home. This is unfortunate as funds transferred from abroad are often relied upon by parents and relatives for survival.

Unfortunately, it often happens that the funds sent home are diverted and they do not serve their intended purposes. Sometimes, emergencies arise leading to many stalled projects in Uganda as funds take too long to be delivered.

Ugandans abroad are skeptical about keeping or investing funds at home due to risks of being duped and relatives diverting funds.

Account benefits

• Affordable initial deposits
• Easy to maintain
• Unlimited withdraws
• No monthly charges
• Interest is calculated monthly and paid twice annually (June and December)
• Direct debit transfers
• Affordable account transfers locally and international
• 24/7 access to your account
• Account allows you to access PostBank loan products

How to open up this account

Log on to Post Bank web site (www.postbank.co.ug), click on PostBank Diaspora Classic link page and 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. You will also receive two links. The first link has a copy of the system-generated completed account opening form. The second link will enable you to upload the endorsed account opening form and required documents.

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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.
Once the first message is received at PostBank we will keep in touch and be able to guide you on the nearest Notary for document verification.

Requirements for the account opening

• A signed application form to be uploaded online.
• A recent passport photograph in soft or hard copy.
• Valid mailing and physical address
• Initial deposit of $50
• Proper documentary identification e.g passport, ID, driving permit.
• An introduction letter from either employer or recognized local authority in the diaspora verified by the public Notary.
• Signing mandate.

How to deposit funds on this account

You can deposit funds into the Post  Bank Diaspora Classic Account by;
• SWIFT transfers (Our SWIFT BANK Code is UGPBUGKA)

Contacts:
Website: www.postbank.co.ug
Email: info@postbank.co.ug or florence.nsenga@postbank.co.ug or augustine.kisitu@postbank.co.ug or diaspora@postbank.co.ug
Tel: +256 414 258 551/3, +256417157557M: +256-783-377 999 | +256-712-867 974 |+256 772 445 422

About PostBank

PostBank Uganda Ltd, with a history of operational excellence was born out of restructuring of the Uganda Posts and Telecommunications under the Communications Act of 1997. The bank has grown its number of loyal customers fully supported by a total of 32 regional branches national wide thus availing financial service solutions to the mass market over the 52 districts in Uganda.

Incorporated in February 1998 as a limited liability Company wholly owned by the Government of Uganda, PostBank Uganda Ltd is governed by The Ministry of Finance. The management team, fully vetted by The Central Bank of Uganda as per The Financial Institutions Act 2004, is led by the Managing Director – Mr. Stephen Mukweli and Two (02) Executive Directors to reinforce the principle of dual control.

PostBank Uganda offers a wide portfolio of products and services across savings, loans, money transfers and accounts. Through our differentiated e-banking, we have implemented a program to strengthen the financial service(s) offered to Ugandans living in the Diaspora with the Diaspora Classic Account as we believe that many Ugandans living in the Diaspora have investments, social developments and various viable projects running in Uganda that require easy and timely access to financial services during their visits to or stay in Uganda.

 


About the Author

Ugandan Diaspora News Team

Ugandan Diaspora News Online is an independent, non political news portal primarily aimed at serving Ugandans who work and reside outside Uganda. Our aim is to be a one stop shop for everything Ugandan and the celebration of our Ugandan heritage.

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