Sending business payments from the US to Uganda
A US company pays a Ugandan supplier or contractor by SWIFT wire in US dollars to the company's USD account at a Ugandan bank. Uganda's Foreign Exchange Act, 2004 requires foreign currency payments to or from Uganda to go through a bank, and contains no provision requiring exporters to repatriate or surrender their proceeds. This guide covers the details to collect, the rules, timing, documents and fees.
- Section 9(2) of the Foreign Exchange Act, 2004 requires foreign currency payments to or from Uganda to go through a bank, and section 9(3) requires money transfers to go through a licensed person.
- The Act contains no provision requiring exporters to repatriate or surrender their export proceeds.
- Under section 10, temporary exchange controls may be imposed only in a severe deterioration of the balance of payments, for up to three months unless extended.
- Centenary Bank's 2026 tariff charges USD 8 on inward transfers under $500 and 0.25% above $10,000, and UBA Uganda lists an inward TT charge of UGX 30,000, with 15% excise duty on both.
- Centenary Bank lists a USD 35 charge for funds queried because of missing details, so complete payment instructions save money as well as time.
Details to collect from your recipient in Uganda
Ugandan banks receive dollars through correspondents abroad. Ask the supplier for its bank's standard settlement instructions for US dollars, in writing, and copy them exactly, including the US correspondent and the Ugandan bank's account number there.
| Detail | What to ask for | Why it matters |
|---|---|---|
| Beneficiary name | The registered name, exactly as on the account | Name mismatches lead to queries |
| Account number | The USD account, not the shilling account | A dollar wire to a shilling account is converted |
| Bank name, branch and SWIFT code | 8 or 11 characters | Routes the wire |
| Correspondent bank | The US bank the Ugandan bank uses for dollars, its SWIFT code and the account number there | A missing correspondent is the most common reason for delay |
| Reference | Invoice number, and for exports the contract or shipment reference | Lets the bank and the supplier match the receipt |
Sources: Centenary Bank, Tariff Guide 2026; field list compiled by the Helm Editorial Team. As published on 29 October 2026.
USD or shillings: what Uganda's Foreign Exchange Act says
Foreign exchange in Uganda is governed by the Foreign Exchange Act, 2004, which the Bank of Uganda (BoU) administers. The Act regulates channels, not ownership: a Ugandan company may hold and receive dollars and convert them when it chooses, provided the money moves through a bank or a licensed provider. The US dollar to Ugandan shilling page covers the currency.
| Rule | What it says | What it means for your payment |
|---|---|---|
| Payments to and from Uganda | Foreign currency payments go through a bank (s.9(2)); money transfers through a licensed person (s.9(3)) | Pay by bank wire, not through an informal agent |
| Export proceeds | No provision requires repatriation or surrender | The supplier may keep your dollars |
| Temporary controls | Only in a severe deterioration of the balance of payments, for up to three months unless extended (s.10) | Rules can change quickly in a crisis |
| Information | The BoU may require details of foreign exchange transactions and returns (s.4 and s.11) | Quote the invoice so the supplier can report |
| Dealing in foreign exchange | Requires a license (s.5) | Conversion happens at a bank or licensed bureau |
Source: Foreign Exchange Act, 2004, Bank of Uganda archive. As published on 29 October 2026.
The BoU Governor said in a speech published by the BIS in February 2026 that Uganda had no licensed virtual asset service providers, so keep supplier payments in the banking channel. For the recipient's view, see how Ugandan businesses receive USD.
Rails and arrival times to Uganda
A dollar wire settles in the United States on Fedwire, which runs from 9:00 p.m. ET on the previous day to 7:00 p.m. ET on weekdays, with a 6:45 p.m. ET deadline for customer transfers. Kampala is 7 hours ahead of New York in the US summer and 8 hours ahead in the US winter.
| Route | What the recipient receives | Timing, as published | Notes |
|---|---|---|---|
| SWIFT wire in USD to a USD account | US dollars | Swift reported in August 2023 that 89% of payments on its network reached the recipient's bank within an hour; crediting depends on the correspondent chain | The standard route |
| SWIFT wire in USD to a shilling account | Shillings, converted by the bank | Credited on a Ugandan business day | The bank sets the rate |
| Letter of credit or collection | Dollars against documents | On presentation of documents | Suits exports of coffee and other goods |
Sources: Federal Reserve Financial Services, Fedwire operating hours; Swift, 22 August 2023. As published on 29 October 2026.
Each correspondent in the chain adds screening and processing. Paying through the correspondent the Ugandan bank names, with complete details, is the simplest way to avoid a query and Centenary's USD 35 charge for funds queried because of missing details.
Documents, screening and why payments to Uganda are held
Because the BoU may require information on foreign exchange transactions, Ugandan banks ask recipients what large or unusual receipts are for. Put the invoice number and a description of the goods or service in the payment, and make sure the supplier has the contract on file for the first payment.
On the US side, sanctions screening applies to every payment: OFAC states that all US persons, including US-incorporated entities and their foreign branches, must comply with its sanctions, so check the payee and its bank against OFAC's lists (OFAC FAQ 11).
| Problem | What happens | How to prevent it |
|---|---|---|
| Missing details | Funds queried; USD 35 at Centenary Bank | Copy the bank's settlement instructions |
| Dollars sent to the shilling account | Converted at the bank's rate | Ask for the USD account number |
| Payment through an informal agent | Outside the channels section 9 requires | Pay the supplier's bank directly |
| Name differs from the account | Queried or returned | Use the registered name exactly |
| Wire sent as SHA | Arrives short of the invoice | Use OUR for large invoices |
Sources: Foreign Exchange Act, 2004; Centenary Bank, Tariff Guide 2026. As published on 29 October 2026.
Costs: SHA, OUR and Helm's fees for payments to Uganda
On a $20,000 receipt, Centenary's 0.25% inward commission is $50, while UBA Uganda's flat UGX 30,000 charge is the same at any size; both banks state that their charges attract 15% excise duty. Intermediary deductions on SHA come on top. Use OUR when the supplier must receive the full invoice. For account options, see USD business accounts in Uganda.
Helm is a financial technology company, not a bank. Its US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. Helm sends international payments by SWIFT and by local rails in the recipient's currency where available, confirmed by your account manager, and shows the rate, the fee and the expected arrival before you confirm.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. See how Helm pricing works.
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How do I send a business payment from the US to Uganda?
Send a SWIFT wire in US dollars to the supplier's USD account at its Ugandan bank, using the bank's standard settlement instructions, including the US correspondent, and quote the invoice number.
Does Uganda require exporters to bring dollars home?
The Foreign Exchange Act, 2004 contains no provision requiring exporters to repatriate or surrender export proceeds. It does require foreign currency payments to or from Uganda to go through a bank.
Can Uganda impose exchange controls?
Under section 10 of the Act, temporary controls may be imposed only in a severe deterioration of the balance of payments, for up to three months unless extended.
How much do Ugandan banks charge to receive a wire?
Centenary Bank charges USD 8 under $500, USD 18 from $501 to $1,500 and 0.25% above $10,000; UBA Uganda lists UGX 30,000 for an inward TT. Both add 15% excise duty.
How long does a wire from the US to Uganda take?
The dollars settle in the US on Fedwire and are credited on a Ugandan business day, depending on the number of correspondents in the chain. Kampala is 7 or 8 hours ahead of New York.
What does Helm charge to send money to Uganda?
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
References
- Bank of Uganda: Foreign Exchange Act, 2004
- BIS: Michael Atingi-Ego, From regulation to growth, Uganda as a regional hub for virtual assets (10 February 2026)
- Centenary Bank: Tariff Guide 2026
- UBA Uganda: Tariff Guide (effective 1 May 2026)
- Federal Reserve Financial Services: Fedwire Funds Service operating hours
- Swift: Cross-border payments on Swift exceed the G20's processing speed target (22 August 2023)
- Office of Foreign Assets Control: FAQ 11, Who must comply with OFAC sanctions?
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.