Bank of India Uganda Limited has introduced a debit card enabling customers to withdraw cash from over 650 Interswitch-linked ATMs nationwide, marking a significant expansion of its services beyond the bank’s three physical branches. The card also facilitates payments at more than 4,900 merchant locations and includes contactless tap-and-pay functionality, according to Prashant Joshi, Executive Director of the bank. This initiative follows a partnership with Interswitch Uganda Limited to broaden access to financial services, with Srikant Ashok Wikhe, Managing Director, emphasizing the card’s 24/7 availability for withdrawals and transactions, including weekends and holidays.
The debit card features a daily cash withdrawal limit of Shs1 million and supports agency banking services under the Interswitch partnership, as outlined by Wikhe. The collaboration, which involves 23 Ugandan banks, leverages Interswitch’s extensive network of 650 ATMs across Uganda and the East African region. Corporate clients, particularly those with salary accounts at Bank of India Uganda, stand to benefit from the enhanced accessibility, allowing employees to retrieve funds outside traditional banking hours. Wikhe noted the bank’s strategic choice of Interswitch due to its established regional infrastructure and growing market presence.
Since its 2012 inception, Bank of India Uganda has operated three branches in Jinja Road, Bombo Road, and Jinja City. The institution plans to open a fourth branch at Namanve Industrial Park as part of its expansion strategy, reflecting its shift toward technology-driven banking solutions. Joshi highlighted the card’s role in reducing reliance on physical branches for routine transactions, aligning with the bank’s broader digital transformation goals. The rollout underscores efforts to improve financial inclusion by providing customers with flexible, round-the-clock access to their funds.
The initiative addresses public-interest needs by enhancing cash accessibility in a country where physical banking infrastructure remains limited. With Interswitch’s network covering 650 ATMs and 4,900 merchants, the card aims to streamline financial interactions for both individual and corporate users. Bank of India Uganda’s expansion into agency banking further positions it to serve underserved communities, complementing its existing branches. As the bank advances its technological capabilities, the new debit card represents a pivotal step in its mission to modernize financial services across Uganda.
Bank of India Uganda Expands Financial Access with New Debit Card Linked to 650+ ATMs