BOA referral program terms & conditions

  1. Introduction:

    The BANK OF AFRICA-UGANDA Ltd (BOA) referral program (hereinafter referred to as "the program") shall run until December 2022 ("the program period").

    By participating in this campaign, you release BOA and hold it harmless from all losses, damages, rights, claims, liabilities, and actions of any kind relating to the campaign including, without limitation, personal injuries, death and property damage, and claims based on publicity rights, defamation, or invasion of privacy.

  2. Eligibility:
    The program eligibility for referred clients is open to:
    1. Individuals
      Individual participants are expected to have the following requirements
      1. Ugandans with a valid National ID.
      2. Non-Ugandans: Valid passport and Visa.
      3. Refugees: Valid refugee card issued by Ministry of Internal Affairs.
      4. All participants must be over the age of 18years.
      5. The Phone number must be in names of the customer.
      6. The campaign is open to new to bank customers.
    2. Registered companies
      Registered entities in any of the categories below shall be considered:
      1. Sole Proprietorships.
      2. Partnership Firms.
      3. Limited Liability.
      4. Clubs / Societies / NGOs / Churches / Charities.
      5. Trusts / Administrators / Executors / Liquidators.
    3. Existing client exclusion
      A referred individual does not include an individual having an existing Bank account(s) with the Bank.

  3. Purpose of Account and Products considered
    All BOA savings and current account products shall be considered in this program.

  4. Basic Requirements for Referees to be Considered
    1. The following parameters shall be considered for Agent Banking Referrals:
      1. Agent must be approved in line with BOA and Bank of Uganda (BOU) guidelines
      2. Agents must be active i.e must have transactions that have been processed within the past 30 (thirty) days.
    2. The following parameters shall be considered for BOA Existing Customers Referrals
      1. Active Customer (At least a transaction within 6 months)
      2. Customer must be registered on at least one digital channel with a transaction in last 3 months
      3. Channels of Referral
    3. The following channels of referral are to be used for agent Banking Referral: Online website application and Agent location.
    4. The following channels of referral are to be used for BOA existing Customer Referrals: Online website application and Branch location.

  5. Referral Commission
    1. The commission for Agent Banking Referrals shall be UGX 6,000 net commission for Individuals and UGX 10,000 net commission for Registered entities.
    2. The commission for BOA Existing Customers referrals shall be: UGX 6,000 net commission for individuals and UGX 10,000 net commission for Registered entities.

  6. Qualifying Referrals
    1. Referred customers must make an initial deposit of at least UGX 30,000/= or as per preferred product minimum balance.
    2. Referred Customers must be registered on at least one channel (Mobile Wallet for individuals and internet banking for companies or any other optional channel where requested)
    3. Referred Customers must at least undertake three transactions on a BOA channel of choice in the month.
    4. Referral commission will be issued within 1 month (30 days) of a successful referral.
    5. In the event that a referral ceases to maintain their BOA account prior to the agent/customer receiving their commission, the commission will be forfeited.
    6. The Referral must not hold any product or service with or distributed by BOA (including but not limited to deposit accounts or loans) in the past 12 months from the date of signing up for the new service(s).
    7. If more than one existing Customer/agent refer the same individual/company to the Bank, only the first existing Customer/ agent who refers the referred individual/company to the Bank is eligible for the referral reward. In the event of any dispute, the Bank shall have the sole and absolute discretion to determine which existing client/agent receives the reward.
    8. Commissions will be credited to the agent or Customer active account at the end of every week (irrespective of the working day when the 30-day mark is reached) for accounts that have met their 30-day window from date of opening.

  7. General Terms and Conditions
    1. Referee (agent or existing Customer) will be notified through their mobile number registered with the Bank, once their referral has met the criteria of a successful referral.
    2. The Bank will remunerate the referee within 30 days of successful referral account opening for all leads.
    3. All account opening applications shall be subject to approval through the Bank’s normal account opening processes.
    4. Accounts will be opened once the Bank’s account opening requirements are met. The Bank’s decision on account opening will be communicated directly to the referred Customer.
    5. BOA reserves the right to amend, reduce or extend at any time the incentive for referring a friend/family/company on the different channels. Changed Terms and Conditions will be posted on the BOA website.
    6. The Bank assumes no liability for any direct or indirect loss or damage of any nature in connection with agent or Customer participating in the referral program.
    7. BOA reserves the right to terminate this program. In the event of such cancellation, the Customer/agent waives any rights, which they may have against the Bank and acknowledge that they will have no recourse or claim of any nature whatsoever against BOA.
    8. Fraud and abuse will result in forfeiture of an eligible Customer or Agent's eligibility to participate in the program. In case there is any suspected abuse, misuse or fraud, which shall be determined at the sole discretion of the Bank, the Bank reserves the absolute right to forfeit the eligible Customer or Agent's eligibility to participate in the program without prior notice.
    9. In the event of a dispute, the Bank’s decision will be final and binding on all aspects of the referral program.
    10. BOA is not making any commitment to make such similar offers beyond the offer period.
    11. These terms and conditions are supplementary to BOA's standard terms and conditions applicable to the advertised products (“Standard Terms”). In the of any conflict between these terms and conditions and the standard terms, the standard terms shall apply.
    12. Winners hereby explicitly authorise BOA to share their story with full name and image or video in relation to the program via announcements, publications and promotional tools that include:
      • Awards documents submitted to publications
      • Media releases/interviews
      • BOA proprietary and industry events
      • Printed and electronic client communications
      • Advertisements & Promotional videos / Case studies / Client Testimonials

  8. Governing Law
    Any dispute arising out of this offer will be subject to the exclusive jurisdiction of courts in Uganda.