How to Change Money in Uganda - Uganda Money Information and Tips
• No need to worry about money in Uganda when you come for your holiday. The national currency is the Ugandan shilling, code UGX, sometimes written as UgSh. There are 50000, 20000, 10000, 5000 and 1000 shilling notes and 200, 100, 50 and 10 shilling coins (although the 10 shilling coin is no longer issued).
• Other currencies that might be accepted for transactions are the US dollar (USD), notes must have been issued since 2000, or possibly the Euro (EUR) or British pound (GBP). Older US notes might not be accepted even in banks but newer US notes can be spent directly at fair exchange rates, although you will receive shillings in change. Money tips and Advice for travelers to Uganda ________________________________________ •Uganda for the most part is a cash based society. Here and there you can use your credit card, (Visa cards most readily accepted, Master Card is next, but not Discover Cards and or American Express) and usually it means 6 to 8 or more% surcharge for the privilege for using your card (due to fees that are incurred by merchant in Uganda). That means one needs cash while in the country. Many hotels, safari companies and airlines will ask for US dollars. Uganda Shillings will be accepted in many cases instead, not always at market exchange rate. Traveller Cheques are often harder to cash and are cumbersome requiring extra fees in banks. Most Forex Bureaus will not take traveller cheques from you. Below are some tips that will make your visit to Uganda smoother. ________________________________________ US Dollars are the currency of Choice: Most permits such as the ones for gorillas must be paid in US Dollars. Euros and UK Pound are ok for changing money into Ugandan currency. It is important that you obtain dollar bills newer than 2003 and no tears or blemishes on them. This helps your exchange rate and getting them accepted. (2003 is due to forgeries in times past) ________________________________________ Forex Bureaus are readily available in the downtown area of Kampala: The one at the Grand Imperial Hotel gives you the best rates in town. Late at night, you can also go into Kampala Casino and they will give you a good rate since they will think that you are gambling it away. Look into the daily newspapers for today's rate. Avoid the Forex Bureau in Kabalagala, they will consistently give you one of the lowest rates around (personal experience) and they also give you the hardest time with the slightest imperfection on a bill. ________________________________________ Banks: You can always exchange money at a Bank and it might take a bit longer but in most cases you get a reasonable rate. You can use your credit card to get cash at banks, it may take a bit of time. You can also change your traveller cheques there however contrary to suggestions from American Express Traveller Cheques you will need proof of purchase and passport to prove ownership of cheques you want cashed. ________________________________________ ATM Machines: If you have a visa debit card it is easy to get the best rate from your country's currency converted into Shillings. I use Barclay Bank ATM and pay no fees with my bank in USA (Bank of America). The limit is 500,000 shillings per day with them. You can also use a visa credit card if you have a pin number...alert your bank that you will be doing withdrawals in Uganda otherwise you will not get any money out of the machine. ________________________________________ Traveller Cheques: Use American Express ones only. All others you will have a harder time getting money or no money at all. You will pay a fee for exchanging them into ,money. Plus in spite of suggestions from American Express you will need proof of purchase and passport to prove ownership cheques you want cashed. ________________________________________ Money Safety: Wear a money belt around your waist to hide cash. Use safe in Hotel to put your airline ticket and also your passport. Make copies of passport, airline tickets and anything else that is an important document. Never flash any money in public such as in restaurants or public places since it will attract unwanted attention and it will be your loss. ________________________________________ Money Changers: Avoid them. At border crossings you will be haunted by them and many are con-artists who can make you think you are getting one amount, while in reality you will get a lot less. Even if you are counting along, their hands are quicker than your eyes. ________________________________________ Purchasing Items: Avoid using dollars when buying things such as crafts and souvenirs. You will lose money in the process. Convert your money to shillings at a Forex Bureau. ________________________________________ Money Transfers: Best to use Western Union or MoneyGram since you will get the money. Bank to bank takes much longer and is tougher to get. Money transfers such as Western Union will be paid out in Uganda Shillings. If you need US dollars you can then buy them at a Forex Bureau. ________________________________________ Have A Great Story About This Topic?Do you have a great story about this? Share it!
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