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The Lion King | 25
U-Care-Plus
Account
U
BA has a rich bouquet of
products and services, all
tailored to meet the needs
of all classes of people. This has
over the years given the Bank
the edge over its competitors.
One of these products is the
U-Care-Plus Account.
U-Care-Plus Account is a Foreign
Currency (FCY) account meant
for students who desire to
pursue their university education
overseas. This account is opened
and funded by the parent/
guardian of the beneficiary and
helps them in planning towards
the future of their children and
wards. Its features include:
• Opening balance of $100 or
GBP70 or its equivalent
• Minimum operating balance
of GBP350 or its equivalent
• Interest Rate of 0.1% payable
on the credit balance
• Not more than 3 withdraw-
als per quarter or interest is
forfeited
• Foreign cheques/instruments
can be credited into the
account (if two references
were provided)
• Allows withdrawals by third
party through non-clearing
cheques presented across
the counter only
• Access to MasterCard
Single currency card or VISA
DCDC for USD denominated
account
• Account can be used to
settle payments for eligible
transactions such as school
fees payments, home remit-
tances, etc.
• Ability to carry out transac-
tions via the internet using the
MasterCard or VISA DCDC
• Free network transactions.
U-Care-Plus Account provides
students with the opportunity to
save the mandatory minimum
of GBP6,500 to gain admission
into schools outside London
and GBP8,000 for schools within
London or other countries
abroad. Customers also have
the option of opening/operating
the account in any of these
currencies: GBP, USD, Euro
or NGN as well as access to
MasterCard or VISA DCDC card
for ATM withdrawal, POS and
internet transactions worldwide.
Funds in account can also be
used to settle payments for
eligible transactions.
Parents who wish to monitor
their children’s spending
and educate them on funds
management may opt for SMS
and email alert. This account
can help to sensitize and
cultivate savings culture within
this age bracket as well as help
parents plan towards the future
of their children.
U-Care Plus Account provides
the Bank the opportunity to
capture a significant portion of
the youth segment and groom
them to become tomorrow’s
premier customers.
Customers who need U-Care-
Plus account are:
• Parents/Guardians who seek
to save for their children’s
tertiary education overseas
• Undergraduates who wish
to make their school fees
payments overseas
• ‘A’ level students at some elite
colleges across the country
• Secondary school students
To open a U-Care-Plus Account,
Parents/Guardians must provide
the following:
• Valid identification of parent/
guardian
-International Passport
-Driver’s License
-National ID Card
• Other means of Identification
as per policy
• Two passport photographs of
child and parent
• Child’s birth certificate
• Utility bill within the last 3
months
• Address verification of the
parent/guardian
• Two references from current
account holders
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