Africa Banking Network

An Africa Business Community

UBA Reduces ATM Charges for Customers

In an unprecedented move designed for the benefit of customers, United Bank for Africa, UBA has reduced the charges associated with ATM cards, significantly lowering the cost of transactions, particularly for its Verve Debit card customers.

Instead of the monthly charge of N100 which is a flat fee charged to all ATM card holders, UBA has introduced a pay-as-you-go charge structure. In the month a customer does not withdraw cash at the ATM but use PoS and Internet to make payments the customer will not be charged the N100 flat fee. This is to encourage the uses of alternate channels.

Divisional Head e-banking, UBA, Dr. Yinka Adedeji said the move was aimed at delighting customers, following recent complaints and feedback as well as foster the Cashlite initiative of the Central Bank of Nigeria to the mass market.

He explained that ATM card holders who seldom use ATMs will now pay less. “If you do not use the ATM to do cash transaction you do not pay”. He was quick to point out that frequent ATM users are not disadvantaged as a result of the new pricing regime.  “Assuming as a frequent user and you visited the ATM more than 10 times during the month, you will not be charged more than the monthly cap of N100” he stated.

He explained that Pay-as-U-Go type of charges is only applicable with the bank’s local Verve Debit card though UBA has kept open the option of Visa and MasterCard single currency cards that still attract N100 per month fee with unlimited ATM access. “Customers are free to choose the N100/month or the Pay-as-you-go option” said Adedeji.

United Bank for Africa (UBA) is a leading Pan African Bank with presence in 19 African countries, New York, London and Paris thus being able to effectively arbitrage Africa an African related business globally.

- Ubagroup.com

info@africabusinesscommunities.com
Follow us on Twitter!
www.twitter.com/africabizz
www.twitter.com/andreaayemoba

Views: 12

Comment

You need to be a member of Africa Banking Network to add comments!

Join Africa Banking Network

Africa Business Panel | B2B Market Research

As a valued LinkedIn group member, we invite you to join a prestigious online community.

The Africa Business Panel is open exclusively to business men and women engaged in business on the African continent.

 

As a participant in the African Business Panel, you will benefit in several ways and at the same time, you will have no obligations whatsoever. You will decide if and when you want to participate. However, the more you participate in surveys, the better your chances of benefiting from your membership.

Click here to join now


Badge

Loading…

© 2023   Created by Bas Vlugt.   Powered by

Badges  |  Report an Issue  |  Terms of Service