UBA lowers opening balance for savings account

Driven by its objective to implement cost saving e-Banking products and services, United Bank for Africa (UBA) Plc. has announced changes to its savings account scheme with reduced minimum opening balance.

According to the bank, with a minimum of N2, 000, customers can now open a UBA Savings Account and enjoy a world of high value banking with Africa ’s global bank. Christened UBA Savings Account Advantage, existing and new holders of UBA Savings Account stand to benefit from the bank’s range of cost saving e-banking products and services.

Speaking on the new initiative, Head, Retail Products, UBA Plc, Olumide Osunyomi, said “we have reduced the minimum opening balance for savings account to encourage more savers to inculcate the culture of savings, enhanced their living standards with the plethora of added high valued banking services.”

According to her, UBA has invested in cutting-edge technology towards delivery of seamless, efficient and cost saving e-Banking products and services. “UBA, being the largest eBanking services provider in the country, is inviting old and would-be customers to enjoy a new way of banking,” she said.

UBA savings account holders, among other traditional services availed by the Bank which include an ATM Card, would have opportunity to subscribe to the following eBanking platforms: U-Mobile; U-Mo; UBA Visa Prepaid Card; UBA Naira Debit Card; UBA DCDC.

On the Cash-lite policy of the Central bank of Nigeria (CBN), Divisional Head, e Banking, UBA Plc, Dr. Yinka Adedeji, noted the bank had adopted critical measures to encourage its customers to embrace electronic channels. He added that UBA is leading the crusade in the implementation of the policy, particularly small depositors, which the new initiative meant to address.