In this article, you'll discover whether Revolut works in Uganda, explore some potential drawbacks if it is available, and consider the possibilities for its use in the country.
Does Revolut Work In Uganda?
Revolut is not available in Uganda. The financial technology company does not offer its services directly to users in Uganda, limiting the functionalities that residents can access through the app.
While Revolut provides a Ugandan shilling travel card for users traveling from the UK to Uganda, this service is primarily targeted at travelers rather than local residents. Therefore, Ugandan residents looking to use Revolut's full range of financial services will need to explore alternative options.
Fees and Charges for Using Revolut in Uganda
Here are some general costs that users might encounter when using Revolut in Uganda:
- Currency exchange fees: Subject to fair-usage limits and weekend markups.
- ATM withdrawal fees: A maximum of 5 ATM withdrawals a month and up to £200 per rolling month are free. Anything over these limits is charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- Transaction fees: No specific transaction fees are mentioned for spending in Ugandan Shillings. However, currency exchange fees may apply if the transaction involves a currency conversion.
- Currency conversion fees: Exchange fees above free conversion limits will apply for conversions.
- Withdrawal fees: Fee-free ATM withdrawals up to £200 for Standard and Plus plans, up to £400 for Premium plan, and up to £800 for Metal plan. Withdrawals beyond these limits are charged at 2% of the value of the ATM withdrawal or a minimum fee of £1 (whichever is greater).
- Additional fees: Potential additional fees charged by ATM providers that Revolut cannot prevent.
Is Revolut the Best Option in Uganda?
Even if Revolut is available in Uganda, it might not be the best option for users due to several limitations and restrictions that could affect its usability and cost-effectiveness.
- Limited local support: Revolut does not offer customer support tailored for Ugandan residents.
- Currency exchange fees: Subject to fair-usage limits and weekend markups, increasing costs.
- ATM withdrawal limits: Free withdrawals are capped, with fees applying beyond set limits.
- Additional ATM fees: Local ATM providers may charge extra fees that Revolut cannot prevent.
- Service restrictions: Some Revolut features may not be fully accessible to Ugandan users.
Alternatives to Revolut in Uganda
1) OneSafe
OneSafe is a leading alternative payment solution in Uganda, offering a seamless blend of traditional and Web3 financial services. Key features include simple onboarding, lower fees, and superior customer support. With global payments and multi-currency support, OneSafe ensures efficient and secure financial operations for users.
OneSafe Reviews
Users have praised OneSafe for its comprehensive services, including ACH, Crypto, Wire deposits, and Virtual cards. Many appreciate the seamless experience and support for various business needs. OneSafe is often highlighted for its user-friendly interface and efficient customer service.
2) Wise
Wise offers a multi-currency account, international money transfers, and a debit card, making it a viable payment solution in Uganda. Key benefits include lower fees, transparent pricing, and the ability to hold and convert money in over 40 currencies. Wise also ensures fast, reliable transfers and strong security measures.
Wise Reviews
Wise has an overall rating of 4.7 out of 5 based on 86 reviews. Users have reported issues with money transfers being returned without notification and challenges with document approval.
Check out more Wise reviews here.
3) Paypal
PayPal offers a secure and efficient payment solution in Uganda, allowing users to send and receive money globally. Key features include 24/7 fraud monitoring, Buyer Protection on eligible purchases, and the ability to link multiple cards for flexible payments. Businesses benefit from customizable digital payment options and fast invoicing capabilities.
Paypal Reviews
PayPal has an overall rating of 4.4 out of 5 stars. Users have reported high transaction fees, especially for international payments, and a lengthy dispute resolution process.
Check out more PayPal reviews here.
Frequently Asked Questions about Revolut in Uganda
Is Revolut available for Ugandan residents?
No, Revolut is not available for residents in Uganda. It primarily serves other regions.
Can I use Revolut's travel card in Uganda?
Yes, travelers from the UK can use Revolut's Ugandan shilling travel card in Uganda.
Are there any fees for using Revolut in Uganda?
Yes, fees include currency exchange, ATM withdrawals, and potential additional charges by local ATMs.
Does Revolut offer customer support in Uganda?
No, Revolut does not provide customer support specifically tailored for Ugandan residents.
What are the alternatives to Revolut in Uganda?
Alternatives include OneSafe, Wise, and PayPal, each offering various financial services and benefits.
Begin Your Journey with OneSafe Today!
Choosing the right payment solution in Uganda is crucial for seamless financial operations. While Revolut has limitations, alternatives like OneSafe offer comprehensive services tailored to local needs. Explore OneSafe for efficient, secure, and cost-effective financial management. Sign up today to get started!
