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Home Business News

Access Bank keeps impacting lives with DiamondXtra savings scheme

NM Partners by NM Partners
April 1, 2020
in Business News, Company News
Access Bank, Scam Alert: Access Bank issues warning to customers over fraudulent acts , Director, West Africa region, IE, Onyekachi Eke, Access Bank lists N30 billion bonds on NSE , Access Bank, Zenith Bank Plc, Access Bank Plc and United Bank for Africa Plc, Zenith Bank Plc, Access Bank Plc and United Bank for Africa Plc, A new BVN guideline to curb e-fraud is coming soon - CBN announces , Access Bank donates 66 laptops to children in underserved communities, Access Bank postpones closed period for 2019 Year-End financial statement, Access Bank dispels rumour about its CEO being arrested, Access Bank set to establish subsidiary in Cameroon after acquiring Kenyan bank, Access Bank finally acquires Kenyan bank, Transnational Bank Plc, Herbert Wigwe: We are clamping down on malaria with the Malaria-To-Zero Initiative, Access Bank to list N15 billion green bond on Luxembourg Stock Exchange 

CEO/Group Managing Director, Access Bank Plc, Herbert Wigwe

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For Okpala Mark, a Lagos-based clearing and freight forwarding agent, he never has to worry about paying his children’s school fees, at least not for the foreseeable future, after winning a five-year education allowance from the DiamondXtra savings reward scheme powered by Access Bank.

“Awesome,” said the agent, who has had the account since 2012, while expressing his excitement at winning the prize. “It’s very very important (for me),” he continued, “As a matter of fact, it’s a very big relief on my children’s school fees. Very big relief. I thank God and I thank Access Bank.”

Okpala further explained that he had opened his DiamondXtra account a long time ago and was not expecting to win. “Actually when I opened the account I didn’t know I would win anything or if they were doing any promo on the account. So I just opened an account. When I was told that I had won, I didn’t believe it. It was a very big surprise when I got there and I was told that I won.”

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Last April, one of the winners was Chukwuemeka Emmanuel, a businessperson based in Lagos that had been operating his DiamondXtra account for five years. “I am filled with joy today and I encourage Nigerians to tap into the rewarding scheme,” Emmanuel said.

READ ALSO: Why Nigerian top bank stocks are too cheap to ignore?

“When I received a call that I have won ₦1million, I did not believe it, but now that the bank’s executives have presented a cheque, I have no reason to doubt them. I thank God and thank the management of Access Bank for this great initiative. My advice to all out there is to go and open a DiamondXtra account and save to win too.”

Like Emmanuel and Okpala, Access Bank has been impacting the lives of numerous customers through the reward scheme. Formerly called SavingsXtra, the initiative was launched in July 2008 by the defunct Diamond Bank to encourage savings and reward its loyal customers.

Following a repositioning of the product in 2013 to cater to a larger section of Nigerians, the name of the scheme was changed to DiamondXtra.

Although, the merger between Access and Diamond  Bank had raised concerns on whether the savings initiative would no longer hold, but it still stands as the longest reward scheme with two million customers. Over the last 11 years, about N5.7 billion have been won in cash and gift items monthly and quarterly by more than 19,000 customers.

Now in its 12th season, Access Bank has gone a step forward by enhancing the scheme to include benefits such as a Family Health Insurance cover for a year worth N1.6million; an increase in the number of winners for the Rent-for-a-year prize to 21 per quarterly draw from three and a ₦1million business grant.

Meanwhile, a total of 5,027 customers will be rewarded with ₦348.9million in the current edition.

READ ALSO: Banks beware: Small challenger banks are introducing disruptive account setup options 

Despite being a highly-rewarding scheme, entry for participation is very simple. Existing customers only need to increase their DiamondXtra account balance with a minimum of ₦5,000 every month while new customers can open an account by simply dialing *901*5# with a minimum of ₦5,000 and start growing their balances.

Every ₦5,000 in the DiamondXtra account gives the customer a ticket in the draws, so the more multiples of ₦5,000 saved, the higher the chance of winning.

At the monthly draw, 10 customers have the chance to win ₦1 million each while the quarterly draw includes the star prize of ₦100,000 salary paid every month for the next 20 years, education allowance for five years, rent for a year, and cash prizes ranging from ₦50,000 to ₦1 million.

The current season also features women’s draws in March to commemorate Women’s Day as well as targeted draws to reward associations, organizations, Clubs, and Societies.

The reward redeeming process is as straightforward as well. Speaking in an interview with Ventures Africa, one of the winners of the ‘rent for a year’ prize in the current season, Akitiyan Yerimah in Kaduna, said she was able to get her prize despite not making it to Lagos.

“It wasn’t stressful. I was not able to make it to Lagos to redeem the prize but I was able to liaise with the branch officer here and they credited my account.”
Yerimah, who has been a customer of Access Bank for just three years and uses her account for savings, added that the reward has “gone a long way in solving some financial issues.”

READ MORE: COVID-19: Union Bank closes some branches, downgrades activities in FCT, Lagos, Ogun

She then called on Nigerians to partake in the initiative as it was real. “A lot of people think that things like this are a scam but it’s real,” she said. “Even me, before I thought it was a scam but as one of the beneficiaries, I believe that a lot of people can start saving too. Even if it is little, they still have a chance to win.”

Reiterating the bank’s commitment to rewarding its customers for their patronage, Victor Etuokwu, the company’s executive director for retail banking, describes DiamondXtra as “the best banking product in the country at the moment” while calling on Nigerians to move to the initiative so that they can “partake in the goodies which the product brings.”

Meanwhile, Robert Giles, the bank’s head for product insights and capabilities, notes that the recent merger between Access and Diamond will ensure more accessibility of products to more customers.

“It is exciting that we are going to continue changing more lives because we now have a larger customer base,” he said. “So our coming together with the best capabilities will bring the best services and products in the market.”

DiamondXtra is an interest yielding hybrid account – a combination of both savings and current account features – which allows the deposit of both cash and third party cheques. To open a DiamondXtra account, simply dial *901# from your mobile phone and follow the prompts and fund the account with a minimum of ₦5,000 or click here to know more.

Going forward, the Executive Director, Retail Banking, Access Bank, Victor Etuokwu, while speaking during the launch of its 12th season of the promo in Lagos, said that the bank has introduced new segments to the scheme.

READ MORE: Business Man, Nine Others Win Big in DiamondXtra Season 11 Monthly Draw

Etuokwu stated: “This year will be wonderful for our access bank customers especially the ones who have a diamondxtra savings account. This season we are introducing several good stuffs over last season.

“We will have over 63 winners for rent for a year category, 3 people winning salary for life and we will introduce a free health insurance scheme that will cover the customer, spouse or husband and three children.”


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Tags: Access Bank GroupDiamond Bank XtraNigerian Business News
NM Partners

NM Partners

"NM Partners" encompasses a diverse range of articles and content published on behalf of various organizations, including corporate entities, government and non-governmental institutions, academic bodies, and key stakeholders in the economic sphere. This content spectrum covers press releases, formal announcements, specialized content, product promotions, and a variety of corporate communications tailored to engage our readership. Notably, a portion of these articles are sponsored content. At Nairametrics, while we provide a platform for these diverse voices, it is important to clarify that our relationship with the content under "NM Partners" does not imply endorsement or affiliation. The responsibility for the content accuracy and viewpoints expressed rests solely with the respective contributors. Nairametrics maintains a firm commitment to editorial independence and integrity. Consequently, we do not assume responsibility for any of the content published under "NM Partners." For any inquiries, comments, or feedback regarding the content featured in this section, we encourage open communication and can be reached at info@nairametrics.com. Additionally, we invite our readers and contributors to familiarize themselves with our Paid Post Guidelines, which outline the standards and processes governing paid content on our platform.

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