How to open a standard chartered bank account, what focus is required, where can you open a standard chartered bank account and more questions will be answered in this article.
Before you even consider opening an account at a standard chartered bank, you must choose the type of account which works best for you.
Standard Chartered Bank has a variety of accounts that you can open, all depending on your financial situation and what you’re looking to benefit.
Here is an outline of standard chartered accounts to choose from.
Ordinary Current Account
Enjoy limitless transactions in any of the major world currencies with this account.
Benefits
- It’s available in multiple currencies
- It’s accessible online and permits multiple transactions.
- You get a chequebook with your account
Features
- Works with higher daily Debit Card Limits. Customers can withdraw up to UGX15M at all local and international Visa ATMs and up to UGX20M for Online and Point of sale purchases
- Thanks to standard chartered banks’ international network, you can instantly move money within your community and beyond.
- Transfer your money from your Account to any registered MTN or Airtel Mobile Wallet or from your mobile wallet to your account
- Without needing to visit the bank, you can pay your bills, get a cheque book, activate, block, or replace your debit card online.
Requirements & Eligibility
- Existing account holder
- Anyone above the age of 18 years
- For US Persons, upload the W-8 BEN / W-9 BEN form
- For US Green Card holders, upload the W-9 BEN form
- Valid Work / Residence Permit (For non-Ugandan residents)
- Address Proof (Utility Bill, Tenancy Agreement, Employer Letter) Applies to non-Ugandan residents.
Digital Life Current Account
This account can be opened through the SC Mobile App. The best things about it are the unlimited transactions with no monthly ledger fees.
Here’s more about this account.
Benefits
- Easy access to your money through online and mobile banking.
- Enjoy the zero monthly fee charge
- You get a local free Visa ATM card.
Features
- No minimum balance is required.
- To activate your account you only pay a one-time fee of UGX20,000 and you get to enjoy maximum benefits.
- Transfer money from your Account to any registered MTN or Airtel Mobile Wallet or from your mobile wallet to your account
- Using your phone or tablet, pay bills, activate, block, or replace your debit card online. You don’t have to go to a physical branch.
Requirements & Eligibility
- Existing account holder
- Anyone above the age of 18 years
- Possess an original / copy of your National ID
- Selfie Photo
- For US persons, upload the W-8 BEN / W-9 BEN form
- For US Green Card holders, upload the W-9 BEN form
- Valid Work / Residence Permit (Non-Ugandan residents)
- Address Proof (Utility Bill, Tenancy agreement, Employer Letter) For non-Ugandan residents.
Safari Junior Savings Account
This is one of the best accounts to open with standard chartered bank. It’s a savings account created to help your child and your family.
Benefits
- Save money and earn more with standard chartered’s competitive interest rates
- Enjoy zero monthly service fees
- Supports multiple currency transfer funds at preferential rates online
Features
- You’re charged an opening fee of UGX100,000.
- You are permitted one free withdrawal from your account each calendar month. According to the tariff guide, additional withdrawals are subject to fees.
- Daily interest is calculated and paid monthly on the available balance.
- Without needing to visit the bank, you can pay your bills, get a chequebook, activate, block, or replace your debit card online.
Requirements & Eligibility
- Existing account holder
- Anyone above the age of 18 years
- Possess an original / copy of your National ID
- Selfie Photo
- For US persons, upload the W-8 BEN / W-9 BEN form
- For US Green Card holders, upload the W-9 BEN form
- Valid Work / Residence Permit (Non-Ugandan residents)
- Address Proof (Utility Bill, Tenancy agreement, Employer Letter) For non-Ugandan residents.
Fixed Deposit Account
The great growth potential and guaranteed earnings of this fixed deposit account can help you secure your future.
Benefits
- Get a high yield on a UGX10M or USD10K minimum deposit.
- Enjoy flexible tenure options
- Take advantage of their attractive and guaranteed returns
Features
- Competitive interest rates and attractive returns with total security.
- At maturity, interest is deposited into current or savings accounts. Additionally, there is a choice for upfront interest payments.
- There are flexible tenure options that let you fix your money for 3, 6, 9, or 12 months.
- Borrow up to 95% of the amount of your fixed deposit at low rates.
Requirements & Eligibility
- An initial deposit of UGX10,000,000 or USD10,000 is required.
- A savings or current account is necessary to open a fixed deposit.
- The starting interest rate may change if the contract is terminated early.
- Possess an original / copy of your National ID
- Selfie Photo
- For US persons, upload the W-8 BEN / W-9 BEN form
- For US Green Card holders, upload the W-9 BEN form
- Valid Work / Residence Permit (Non-Ugandan residents)
- Address Proof (Utility Bill, Tenancy agreement, Employer Letter) For non-Ugandan residents.
Smart Banking Gold Account
This is a convenient cheque account that allows unlimited transactions.
Benefits
- Zero monthly service fees and free SCB bank transfers online
- access to your money through online and mobile banking
- You get a local free Visa ATM card with no additional charges.
Features
- Get a Free Visa Infinite Debit Card At Account Opening
- You can activate your account for the greatest benefits with just UGX500,000.
- Transfer money from your Account to any registered MTN or Airtel Mobile Wallet or from your mobile wallet to your account.
- Without needing to visit the bank, you can pay your bills, get a chequebook, activate, block, or replace your debit card online.
Requirements & Eligibility
- Existing account holder
- Anyone above the age of 18 years
- Possess an original / copy of your National ID
- Selfie Photo
- For US persons, upload the W-8 BEN / W-9 BEN form
- For US Green Card holders, upload the W-9 BEN form
- Valid Work / Residence Permit (Non-Ugandan residents)
- Address Proof (Utility Bill, Tenancy agreement, Employer Letter) For non-Ugandan residents.
Safari Savings Account
This account allows you to unwind and let your hard-earned money do the work for you.
Benefits
- No monthly fees are charged
- Enjoy multiple currency transfers
- Save and earn more money with competitive interest rates
Features
- Activate your account with an opening balance of UGX100,000 / USD100 /GBP100 / EUR100.
- On the available balance, interest is computed daily and paid monthly.
- You are permitted one free withdrawal each month from your account. Additional withdrawals are subject to fees by the tariff guide.
- Without having to go to a branch, you can use online services to pay bills, get a cheque book, activate, block, or replace your debit card.
Requirements & Eligibility
- Existing account holder
- Anyone above the age of 18 years
- Possess an original / copy of your National ID
- Selfie Photo
- For US persons, upload the W-8 BEN / W-9 BEN form
- For US Green Card holders, upload the W-9 BEN form
- Valid Work / Residence Permit (Non-Ugandan residents)
- Address Proof (Utility Bill, Tenancy agreement, Employer Letter) For non-Ugandan residents.
Diplomatic Account
This is the best option for the transaction banking requirements of foreign nationals and local employees of some diplomatic organizations.
Benefits
- You receive a free cheque book with 30 leaves and unlimited transactions.
- Carry out transactions in UGX or USD.
- Access your money through online and mobile banking
Features
- You may activate, block, replace, or reset your debit card PIN online, make transfers, pay bills, obtain statements or cheque books, and more.
- Includes a Visa Platinum (UGX/USD) Card with the Visa Secure function and several additional advantages.
- At all local and international Visa ATMs, you can withdraw up to UGX15 million or use UGX10 million to make online or point-of-sale purchases.
- Utilize online banking or SC mobile to receive free, frictionless outgoing transfers.
Requirements & Eligibility
- Ugandans on a diplomatic mission
- Existing account holder
- Anyone above the age of 18 years
- Possess an original / copy of your National ID
- Selfie Photo
- For US persons, upload the W-8 BEN / W-9 BEN form
- For US Green Card holders, upload the W-9 BEN form
- Valid Work / Residence Permit (Non-Ugandan residents)
- Address Proof (Utility Bill, Tenancy agreement, Employer Letter) For non-Ugandan residents.
Conclusion
For all the above standard chartered bank accounts, you can choose to open them online or visit the nearest branch with the required documents.
Each bank account on this list is uniquely tailored to fit a specific customer.
So, choose an account that works well with your current situation and you’ll be able to enjoy the perks that come with it.
