Third-party banking is just another name for agent banking. Here, centenary bank clients can conduct banking activities at any of the bank’s affiliated Cente-Agents.
Agents are chosen and evaluated by the Centenary Bank before being approved by the Bank of Uganda. Upon approval, the Bank enters into contracts with the agents, hires them, trains them, and brands their locations before conducting transactions.
Who qualifies to be a Cente Agent?
Any entity that the Central Bank deems appropriate may be a CenteAgent, including sole proprietorships, partnerships, limited liability corporations, cooperative societies, microfinance institutions, and other legal forms.
One must have an account with Centenary Bank to use the service, and they need one register for Agent Banking by phoning *211# or using the CenteAgent application available on Google Play.
How to download and register through the CenteAgent App
- Visit Google Play Store or Apple Store and Download the Cente Agent Banking Mobile App.
- You can then install it on your phone
- Next, open the Cente Agent Banking Mobile Application Installed on your device.
- Select Register
- Enter your centenary bank account number
- Enter in ATM PAN number
- Input ATM PIN
- A personal PIN shall be sent to you
- You can now begin transacting!
How to do Self-registration for Agent Banking services
- Here, we use the USSD Code – *211#:
- Dial *211# then press send
- Select Agent Banking
- Next, you choose Register
- Enter your account number
- Enter the CenteVisa card PAN number
- Enter CenteVisa card PIN.
- You will receive a special PIN.
- After this, you can begin transacting!
Requirements for Becoming a Centenary bank agent
- An initial investment of 20 million UGX.
- Cost of a tab: UGX 767,000 along with a Centenary account.
- A fully registered company that has been around for at least a year.
- Physical location.
- Articles and Memorandum of Association.
- You must have an account with Centenary Bank
Conclusion
Becoming an agent banker with Centenary Bank has proven to be easy with their two registration options. You can either self-register using USSD Short Code *211# or through the Cente Agent mobile application.
Please remember that you must have an account with Centenary Bank and an existing business as a start. From there you can proceed with the registration process provided you have all the requirements.
