School Fees Payment Service

The Bank accepts school/tuition fees payments from Customers whether one has an account with Centenary Bank or not. Customers are free to choose any of the two payment options:

Cash Payment Option

The Bank accepts cash deposit payments for school/tuition fees for students studying in educational institutions that have school/tuition fees collection accounts in the Bank. The Customers fill banking slips for school/tuition fees payment and hand to the cashier together with cash at any of the Banks Branches. The transaction charge for the service is only UShs. 2,000/=.

Benefits:

• No need to have an account with Centenary Bank.
• Service is available at only a small fee of UShs. 2,000/=.
• Payment can be made at any of the Centenary Bank Branches.
• If you are a Centenary Bank customer, you also have the option of accessing the EFT Direct Debit Transfer Option.

EFT Direct Debit Transfers Option

Considering the problems customers face during payment of school fees especially that of long queues is commonly attributed to the Cash Payment Option at the teller cabins, the EFT Direct Debit Transfer Option facilitates the transfers of fees from the parents/guardians accounts to the educational institutions' account electronically provided the customer has executed a Direct Debit Agreement (DDA). The DDA which is available at educational institutions when executed authorizes the Bank to collect fees from the parent's/guardian’s bank account for electronic transfer to the educational institutions bank account.

Benefits:

• Removes the inconveniences and pain parents, guardians and students face when paying fees.
• Saves time, which can be more productively and economically utilized by customers.
• Minimizes the risk of loss of money through con men and unscrupulous children.
• Improves operational efficiency of banks as it removes long queues in banking halls.
• Less deployment of security and staff to handle the influx of periodic payments.
• Modern and safer process of making payments.
• Reconciliation process is automated which makes it easier for the Bank to know who paid.
• Eliminates the presentation of forged/fake bank slips by students to parents/guardians (inflated amount) or schools.
• Cultivates and consolidates a strong banking culture, and more bank accounts may be opened.