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Customers with accounts with UBA are also given
UBA Alerts containing a combination of SMS and
email alerts for every transaction and e-Statement
of their account at the end of each month.
AfriCard
The UBA Visa Prepaid card is a payment card
which is setup without need for the customer to
own/operate a bank account with UBA. It is a
Naira denominated card that is pre-funded and
reloadable. It is internationally accepted in all Visa
acceptance points. The card can be used for ATM,
PoS and Web transactions.
The UBA AfriCard is internationally accepted in over
210 countries and reduces risk of carrying cash on
travels
U-DIRECT
Customers are also given access to manage
their accounts on internet (U-Direct). On U-Direct,
customers are able to see anddownload transaction
history, move money between own accounts,
transfer money to others with accounts in UBA and
other banks with instant value, pay bills, etc.
UBA Prepaid Card is also available for unbanked
but have limits on how much can be loaded at
once and a lower limit on total amount that can be
loaded on the card.
MOBILE BANKING
Mobile Banking (U-Mo/U-Mobile) are also provided
to access UBA bank accounts or UBA Prepaid
accounts for unbanked. U-Mo, for example, is
specifically designed for the unbanked to be able
to have access to financial services without having
to open bank accounts. Note that UBA prepaid is
also designed for underbanked and unbanked but
can be managed on U-Mobile. U-Mobile provides
access to account balances, mini-statement, instant
money transfer to any bank, transfer to mobile
numbers, bill payment, airtime credit reload, while
other lifestyle experiences are added continuously.
Banking service on mobile phone is seen as a tool
that will drive banking penetration to the unbanked
in Africa at minimal cost. UBA sees Mobile banking,
mobile money and Prepaid card as means to drive
banking penetration across Africa.
UBA Plc strongly believes that CBN’s cashless drive
provides ample opportunity for banks to improve the
performance of their service delivery infrastructure.
But more importantly, the initiative is underpinned
by the fact that electronic channels would indeed
deepen the customer base of financial institutions
that essentially take financial services to the
grassroots.
COLLECTIONS
For merchants that provides goods or services at
physical locations, Points of Sales (PoS) are being
provided as means of collection to avoid the need
to deposit cash beyond the N3Million limit set by
the CBN. The PoS deployed accepts all types of
cards, irrespective of the bank that issue the card.
The PoS accepts Prepaid, Debit and Credit card in
any currency. With PoS, the merchant’s money is
electronically deposited into his or her account with
the bank. Merchants that have internet presence