What customers will benefit from the merger between Diamond Bank and Access Bank

With just weeks left before the biggest merger Nigeria has ever witnessed finally takes effect, the management of Diamond Bank Plc has assured its customers that the move will serve to their advantage.  

A statement by the company, yesterday, disclosed that the need to guarantee customers’ satisfaction is one of the factors that informed the decision to merge with Access Bank Plc. 

To this end, therefore, customers will have nothing to worry about as Diamond Bank joins forces with Access Bank to create one of Africa’s biggest banks. Instead, the customers should get ready to enjoy much more efficient services and benefits. 

According to the statement, Diamond Bank customers will continue to enjoy all the bank’s current unique products and services even after the merger. And there is more — these products and services will become better improved, thanks to the combination of expertise between the leading banks.

A closer look at what the customers will enjoy

Diamond Bank’s customers will continue to enjoy DiamondXtra. The reward scheme will remain unchanged, even as new winners will continue to emerge and be paid. As a matter of fact, the merger with Access Bank will ensure that DiamondXtra becomes bigger and better because the scheme will be opened to Access Bank customers as well. 

Secondly, Diamond Bank customers will enjoy instant, borderless banking from any Access Bank branch. In other words, whenever they walk into any Access Bank Plc branch and Initiate payment in their local currency, the beneficiary will receive an instant direct credit to their account or cash in their local currency. This service will be available in all Access Bank subsidiaries in Nigeria, Ghana, The Gambia, Democratic Republic of Congo, Rwanda, Zambia and Sierra Leone.

Also, following the merger, any Diamond Bank or Access Bank cards that get trapped in either banks’ ATMs will not be destroyed. Instead, such cards will be released to cardholders upon validation of ownership.  

In the same vein, customers of both Diamond Bank and Access Bank will have access to over six hundred branches, where they can enjoy Same Day Clearing of cheques in either banks, just as they will get rewarded for using either Diamond Bank or Access Bank POS terminals.

In the meantime, more lounges for the Diamond Bank XclusivePlus subscribers will be created. 

“Customers are at the heart of our decision to create one of Nigeria’s leading banks. The combination of Access Bank and Diamond Bank will result in real benefits. The products and services that Diamond Bank’s clients enjoy, including its commitment to digital innovation, will continue unchanged and will be backed by Access Bank’s own commitment to customers, financial inclusion and sustainability, and the bank’s corporate expertise and strong balance sheet.”

Both banks are poised to offer the best banking experience in Africa

According to the statement, when the highly anticipated merger eventually takes effect by the end of Q1 2019, Diamond Bank Plc and Access Bank Plc would have successfully combined efforts to bring the power of banking to millions of account holders across Nigeria and beyond. Much emphasis will be on the need for speedy and secured service delivery. Also, the partnership will ensure that customers of both banks continue to experience the best banking experience, with zero disruptions to normal banking services.

Diamond Bank also noted that although there may be some changes in the future, any such changes will be duly communicated to the customers ahead of time. 

Recall that both Diamond Bank Plc and Access Bank Plc announced late last year that they plan to combine resources in order to create the biggest retail bank in Sub-Saharan Africa.

Following the announcement, the banks proceeded to secure the necessary regulatory approvals and is currently waiting for the due date in order to make the deal official.