Home Business & TechCompanies Bank of Kigali Waives Monthly Account Maintenance Fees for All Retail Customers 

Bank of Kigali Waives Monthly Account Maintenance Fees for All Retail Customers 

by KT Press Reporter
9:49 am

In a bold move towards promoting financial inclusion, Bank of Kigali, is delighted to announce that it has waived monthly account maintenance fees on all personal accounts in local currency effective 22nd January 2024.

Bank of Kigali is embarking on a journey to challenge the stereotype that banking services are exclusively for the affluent. By removing this monthly fee, the bank is committing to empower people across the income spectrum to participate fully in the formal financial sector.

This strategic decision aligns with the bank’s objective to make banking more accessible to all and attract a diverse range of customers including the unbanked and underserved groups.

Diane Karusisi, CEO at Bank of Kigali said:At Bank of Kigali, we believe in creating opportunities for everyone to build a secure financial future. By waiving monthly account charges for our retail customers, we are breaking down barriers and making banking more inclusive. This decision reflects our commitment to serving the entire community and creating a more equitable financial landscape in Rwanda.”

In addition to waiving monthly charges on local currency accounts, the bank has revised transfer to mobile wallet fees and will be accepting third party cheques at zero cost.  

These changes come after Bank of Kigali recently launched the digital account opening feature allowing new customers to open accounts remotely using BK mobile App and leveraging technology to provide convenience.

BK mobile app enables customers to pay bills, make transfers, request instant loans also known as BK Quick, manage cards and existing loans, open saving accounts and much more without visiting a branch. Customers without smartphones have not been left behind as they can access the bank’s digital services through the short code *334#.

Bank of Kigali encourages both existing and prospective customers to take advantage of these enhancements and explore the diverse range of banking products and services it offers.

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