SWIFT/BIC codes in Uganda

Finding a SWIFT code in Uganda

This overview covers 46 banks and financial institutions in Uganda and 51 SWIFT/BIC codes between them. A SWIFT code tells every bank in the chain which institution should receive the money.

Every bank is listed with its own page with its main code and, where available, branch codes. The sections below covers how the codes work, what transfers cost and how to avoid mistakes.

International payments to Uganda and the BIC

Uganda is outside the SEPA area, the European zone for uniform euro payments. Payments from abroad usually travel through the SWIFT network, and the BIC of the receiving bank is required.

Not every country uses IBAN numbers. Check with the recipient which details their bank needs for incoming international payments. International transfers can pass through correspondent banks, each of which may deduct a fee.

Recognising a SWIFT code from Uganda

Every SWIFT/BIC code has 8 or 11 characters. It starts with four letters for the bank, followed by a two-letter country code and two characters for the location.

In every code from Uganda, characters five and six are the two-letter ISO code of Uganda, which makes these codes easy to recognise. If those two letters point to another country, the code belongs to a bank somewhere else, so check again.

An 11-character code adds a branch code. Choose a branch code only when the recipient explicitly gives you one – otherwise stick with the head office.

Transfer times to Uganda

How quickly a payment reaches Uganda depends on a few things: the currency, how many intermediary banks are involved, daily processing deadlines and differences in time zone. Transfers sent late in the day or on a weekend or public holiday usually start a business day later.

A growing number of banks use SWIFT gpi, which lets them follow a payment from bank to bank. Each gpi transfer gets a unique transaction reference, the UETR. Keep the payment confirmation until the money has arrived – you will need it if something goes wrong.

Which bank in Uganda has the most codes?

In our directory, Sabmiller Uganda holds the most SWIFT/BIC codes of all banks in Uganda. Its main office has SABMUGT1XXX; that is usually the right code for a transfer.

How many codes a bank has tells you more about how it registers branches and services than about its size. Unless a branch code is given, the head office code SABMUGT1XXX works for a payment to Sabmiller Uganda.

Receiving money in Uganda from abroad

Someone abroad who wants to pay you needs several details about your account. In practice that means: your full name exactly as it appears on the account, your account number or IBAN, the BIC of your bank and sometimes your postal address.

Find the bank in the list above and compare the code with your own bank details, but take the code from your own bank details when in doubt. Some banks also want your bank’s address.

Expect that the amount credited is smaller than the amount on the sender’s receipt. Charges on incoming payments differ per bank – your bank’s price list tells you what applies. Make clear with the sender who pays which costs.

The cheapest way to send money to Uganda

When you transfer money to Uganda through your bank, the stated fee is only part of the cost. There is the transfer fee, possibly fees from correspondent banks and, most importantly, the margin on the exchange rate when currencies differ.

The markup on the rate tends to be the biggest cost item, even though it is not listed as a fee. A simple test: set the offered rate against the mid-market rate and look at the difference.

Specialised transfer providers often use a rate near the mid-market rate with clearer fees. GoldexPay compares transfer services next to each other so you can see the amount that reaches the recipient for the same amount sent.

Verifying a SWIFT code from Uganda

Have the recipient send you the account details directly from a recent statement. A wrong code can cause delays, a returned payment or extra fees – compare it with the code in our list.

We gather bank codes using public sources and check them regularly. Institutions merge, change names and change codes, and no directory catches every change immediately. Before a payment that matters, confirm the code with the recipient’s bank. GoldexPay is an independent comparison site.

Scammers regularly send payment requests carrying new bank details. A real SWIFT code tells you nothing about who owns the account: criminals use real codes too.