OPPORTUNITY BANK UGANDA LIMITED
REF NO: SMART POCKET v.1
(Licensed and Supervised by Bank of Uganda)
KEY FACTS DOCUMENT – DEPOSITS
1. TYPE OF ACCOUNT
SMART POCKET
2. AIMS AND BENEFITS
Quick, Secure and convenient way to open a digital account, to save, pay for goods and services from the digital account and earn redeemable points on your transactions.
3. TERMS AND CONDITIONS
- a) Interest to be earned: N/A The interest rate is: □ Tiered ⮽
- b) Duration: N/A End Date: N/A
- c) Account opening balance in UGX: 3,000
- d) Maximum balance in UGX: 5,000,000
4. FEES, CHARGES AND PENALTIES
| Description of standard fees | Amount in UGX |
|---|---|
| a) Deposit to wallet fee | 0 |
| b) Send money – Other Smart Pocket / OBUL Account | Free |
| c) Withdrawal fee From Smart Pocket | |
| 500 – 30,000 | 750 |
| 30,001 – 125,000 | 1,300 |
| 125,001 – 250,000 | 2,000 |
| 250,001 – 500,000 | 2,500 |
| 500,001 – 1,000,000 | 3,000 |
| 1,000,001 – 2,000,000 | 3,500 |
| 2,000,001 – 4,000,000 | 5,500 |
| 4,000,001 – 5,000,000 | 15,000 |
| d) Bill payments and Fees | |
| 500 – 30,000 | 1,000 |
| 30,001 – 125,000 | 1,500 |
| 125,001 – 250,000 | 1,700 |
| 250,001 – 500,000 | 2,500 |
| 500,001 – 1,000,000 | 5,000 |
| Potential additional fees/charges | |
| e) System alerts | Free |
| f) Reactivation of account | 5,000 |
Depending on how you use the account, you may be charged any of the fees above, which will be directly deducted from your account. NOTE that while the common fees, charges and penalties are listed in the table above, there may be other fees, charges and penalties – you can find information on these on the tariff guides via our website www.opportunitybank.co.ug or by calling the Contact Centre 0800 306 306 (TOLL FREE PHONE LINE), Whatsapp +256 754 680049, customerservice@opportunitybank.co.ug
5. RISKS
- a) Redeemable points earned are variable depending on a transaction or referral and the reward amounts are subject to change.
- b) N/A
- c) N/A
6. FURTHER POINTS TO CONSIDER
How to deposit money into your account: You can pay money into your Smart Pocket in any of the following ways: Opportunity Kussimu, Opportunity Mobile App/ Online Banking, Opportunity ATM, Opportunity Agent Banking, transfer from Mobile Money or other bank accounts.
How to take money out of your Smart Pocket: You can withdraw from your smart pocket in any of the following ways: Opportunity Kussimu, Opportunity Mobile App, Opportunity ATM, Agent Banking, transfers to mobile money or other bank accounts.
Inactivity/dormancy: Your wallet account will be considered inactive after 180 days of no customer activity. You will need to do a transfer into your account to reactivate your account. After 9 months of account inactivity, the account is considered dormant. To reactivate, a fee may apply. See 4 (fees). Reactivation must be done within six months upon receipt of notice from the Bank.
Deposit protection: Your deposits are insured up to UGX 10 million by the Uganda Deposit Protection Fund. Please ask our staff for further details.
Tax implications: The current withholding tax / excise duty will be debited from your account in compliance with the law.
Account closure: You may close your wallet account at any time.
How to complain: If you are dissatisfied with our services, we welcome you to communicate this to us via our Customer Call Centre on 0800 306 306. We will acknowledge receipt of your complaint, investigate and give you an answer within two weeks.
Where can I find out more? If you want more information on this deposit product or the terms used in this KFD, please contact us on Our toll-free line 0800 306 306, or visit our website at www.opportunitybank.co.ug.co.ug