By InvestAdvocate
Lagos (INVESTADVOCATE)-Africa’s Global Bank, United Bank for Africa Plc (UBA) Thursday said it has reduced its Automated Teller Machine (ATM) charges for customers of the Bank and has an alternative option of Pay-As-You-Go.
This is contained in a Statement by Charles Aigbe, Divisional Head, Marketing & Corporate Relations Directorate of the Bank and made available to www.investadvocateng.com in Lagos Nigeria.
“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†the Statement said.
UBA said instead of the monthly charge of N100 which is a flat fee charged to all ATM Card Holders, it 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†UBA affirmed.
Yinka Adedeji, Divisional Head e-banking of UBA, 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 (CBN) to the mass market.
“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†the Statement affirmed.
Adedeji said the Pay-As-You-Go type of charges is only applicable with the Bank’s local Verve Debit card; but 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†Adedeji said.
