Centenary bank has cancelled all Personal Identification Numbers (PINs) of its clients using Automated Teller Machine (ATM) services due to ongoing internal investigations of fraud.
Fabian Kasi, the Managing Director Centenary bank says they are conducting investigations stemming from complaints from some customers that their PINs had been used.
He however notes that the move to cancel and replace all PINs has risen out of new controls that the bank has instituted on withdraws from the bank's ATM machines.
Yesterday the bank announced that they had put a cap on ATM withdrawals at Shs 100,000 although at some ATMs withdraws were capped at Shs 50,000.
Kasi says the bank will take up to a minute to verify helping the customers' PINs at the bank's branches. Customers need to carry identification documents for each account that they hold.
Centenary is the biggest indigenous bank in Uganda with the highest number of savings accounts in the economy. Information obtained from Bank of Uganda shows that Centenary has 1.3 million savings accounts and 41,715 current accounts.