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how much does centenary bank charge per month ?

**How Much Does Centenary Bank Charge Per Month? A Comprehensive Guide**

When it comes to banking, understanding the fees and charges associated with your account is crucial. Centenary Bank, one of Uganda’s leading financial institutions, offers a range of services, but customers often wonder about the monthly charges and other fees. In this blog post, we’ll break down what Centenary Bank charges, including monthly management fees, transaction fees, and more.

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### **1. Monthly Management Fees**
One of the most common questions about Centenary Bank is the monthly management fee. According to the bank’s official website and customer feedback, Centenary Bank charges **USh 3,000 per month** as a monthly management fee for certain accounts. This fee is deducted automatically from your account, so it’s essential to keep track of your balance to avoid any surprises.

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### **2. Transaction Fees**
Centenary Bank charges fees for various transactions, including withdrawals, balance inquiries, and utility bill payments. For example:
– **Balance inquiry via mobile banking**: USh 600 per transaction.
– **Withdrawals through CenteAgent**: Fees range from USh 600 to USh 3,500, depending on the amount withdrawn.
– **Utility bill payments**: Fees range from USh 1,000 to USh 5,000, depending on the transaction.

These fees apply to most transactions, whether you use mobile banking, ATM, or in-person banking services.

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### **3. Customer Feedback and Concerns**
Many customers have expressed dissatisfaction with Centenary Bank’s fees, particularly the **USh 600 charge for balance inquiries**. Some users have reported feeling that the fees are too high, especially for basic services like checking their account balance. Additionally, some customers have shared concerns about hidden charges and unexpected deductions from their accounts.

For example, one customer shared their frustration on social media:
*”I spent a year and six months without using my account, and when I finally tried to access it, I found out that the bank had deducted USh 3,000 as a monthly management fee. This is unacceptable!”*

While Centenary Bank defends these charges as necessary to cover operational costs and improve services, customers argue that the fees are excessive and lack transparency.

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### **4. How to Minimize Fees**
If you’re a Centenary Bank customer, here are a few tips to help you minimize fees:
1. **Monitor your account regularly**: Keep track of your transactions and account balance to avoid unexpected charges.
2. **Use in-branch services wisely**: Some transactions may be free or cheaper when conducted in person.
3. **Ask about fee waivers**: Centenary Bank sometimes offers fee waivers for high-value customers or those with long-standing accounts. Don’t hesitate to ask about this.
4. **Consider alternative banking options**: If you’re unhappy with the fees, explore other banks or mobile money services that may offer more affordable charges.

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### **5. Centenary Bank’s Response**
Centenary Bank has defended its fee structure, stating that the charges are necessary to sustain its operations and improve services for customers. For instance, the USh 600 fee for balance inquiries was introduced to cover the costs of mobile banking services. The bank has also emphasized its commitment to transparency and customer satisfaction.

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### **Conclusion**
Centenary Bank is a popular choice for banking in Uganda, but its fee structure can be a source of frustration for some customers. While the bank provides essential services, the charges for monthly management, balance inquiries, and other transactions can add up quickly.

If you’re a Centenary Bank customer, it’s important to stay informed about the fees and consider strategies to minimize costs. On the other hand, if you’re looking for a new bank, comparing fee structures and services can help you make an informed decision.

Let us know in the comments if you have any questions or experiences to share about Centenary Bank’s fees!