A Stanbic Bank agent is an independent party authorized by Stanbic Bank to offer banking services to its customers.
Deposits, cash withdrawals, opening of accounts, paying for utilities, paying for school fees, and loan applications are among the services that the agents provide.
The transactions determine how much commission the Stanbic representatives receive.
For anyone that has always wanted to become a Stanbic Bank agent, all the information you need is right here in this article.
The Requirements for agent banking
Standard Chartered Bank considers the following when you apply for an agent banking partnership with them
- To work as an agent, your company must be set up and licensed as a sole proprietorship, a limited liability company, or another category that the central bank deems appropriate for agent banking businesses with a physical address.
- You just have an account with Stanbic bank
- Should have been in business for at least 12 months
- Have a Certificate of incorporation or registration
- Valid Trading license
- Memorandum and Articles of Association
- Two letters of recommendation from individuals or organizations in good standing (such as LC1, LC2, or commercial references)
- Profile of the business or resume of the sole proprietor, including contact information and work history
- 2 most recent passport photos of each of the directors.
- National Identity card
- Point Of Sale machine (POS) at UGX 1,000,000.
- Agent Banking business capital of UGX 5,000,000.
- Presentable and secure premises.
- Interpol certificate of good conduct at UGX 64,000.
- Credit Reference Bureau report at UGX 20,000.
- 6 months’ bank statement for non-Stanbic Bank customers.
- The outlet’s GPS location.
How to apply for agent banking with Stanbic Bank
With the above requirements, you can visit any Stanbic Bank branch and share your application or interest to become a Stanbic Bank agent.
The bank representative will then provide you with an agent application form to complete and will also provide you with instructions.
After completing your application and including any necessary attachments, click submit. The agent application will be presented for review and endorsement.
Conclusion
Among other important requirements, you need a Stanbic Bank business bank account and a physical address where you intend to operate your agent banking business.
Anyone with a registered business from a mobile money agent, gas station, supermarket or grocery store, pharmacy, hardware store, or retail shop that has been open for at least 12 months is eligible to become a Stanbic bank agent.
