BoU reduces cheque clearing to two days

It will now take a client two days to access their money after posting the cheque. FILE PHOTO

What you need to know:

  • Cyber threats: Like any other digital system, the new automated cheque clearing system is susceptible to cybercrime. However, Mr Wilbrod Owor, said the central bank, working with different stakeholders, has taken a number of security measures to curb cyber security risks.

Kampala. Bank of Uganda (BoU) has reduced the duration of clearing cheques from four to two days.

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