The role of an Absa bank agent is to guide ABSA bank customers by providing cash withdrawals, cash deposits, account opening, checking balances, paying bills, applying for loans, and paying for utilities and school fees.
All these services which are usually conducted in the bank can now be done in the neighborhood through an approved ABSA bank agent. Through these transactions, Absa agents receive commissions.
Looking to become an Absa bank agent yourself, here’s how;
The requirements to be an agent
Remember that to operate as an agent, your company must be established and licensed as a sole proprietorship, a limited liability company, or any other category that the central bank deems appropriate for the agent banking activity.
With that in mind, you’ll need to have the following;
- Certificate of registration
- Statement of particulars
- TIN certificate
- National ID
- Passport photo
- LC 1 letter.
- Valid trading license showing evidence of operating for at least a year.
- After the central bank (Bank of Uganda) has approved you for gent banking, you need an agent float of UGX 6,000,000.
- The company search fee of 70,000(Limited company)
- Company Letterhead. (Limited company).
- The most recent yearly returns should be provided if a company has existed for more than three years.
- Articles and Memorandum of Association
- National IDs for directors and secretaries.
- Board resolution to open the account.
- Certificate of incorporation(limited company)
- Valid trading license.
- Company form 7 / 20.
- Passport photos for directors and secretaries. (limited company).
Who can become an Absa bank agent?
Any person 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 an Absa bank agent.
Please note that you shouldn’t run Absa agent banking as your main business.
Additionally, you must have a business bank account with Absa Bank and a physical address where you intend to conduct your agent banking business to become an Absa Bank agent.
How to Become an Absa bank agent
- Head over to any Absa branch near you
- Inform the branch manager or the Customer Care desk about your agent request.
- The bank representative will then hand you an agent application form to complete along with a checklist that will help you with the application procedure.
- Once you’ve completed your application and provided all necessary supporting documentation. A request for an agent will be made and submitted for review and approval.
Conclusion
Confirm that you possess all the requirements to become an Absa Bank agent before visiting Absa Bank to apply.
That way you can be sure that the bank will approve your request to begin transacting on their behalf.
