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Access Bank innovates to give customers more access to funds in COVID times

Access Bank Plc has introduced a Dual Transaction Service (DTS) – an enhanced debit card service that provides access to credit at the same time.

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Access Bank innovates to give customers more access to funds in COVID times

Nigeria’s leading retail financial services institution, Access Bank Plc has introduced a Dual Transaction Service (DTS) – an enhanced debit card service that provides access to credit at the same time.

The Dual Transaction Service (DTS) is a bundled service designed to allow pre-approved customers access a credit line through their existing debit card.

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“This is the first time any bank in Nigeria will be providing this kind of combined essential service to its customers. We have been encouraging our customers to stay safe and connected by going cashless while using our various digital channels. We know these are trying times and our customers may need an extra boost during this period so rather than have them go through the rigorous process of applying for a credit card, we will give them access to more funds using their existing debit cards.                                     

“This service is available to all Access bank customers who earn from N20,000 and above.  Customers can also access 3 times the value of their salary during this period of restricted movement. This is a remarkable feat and we will continue to promote digital transactions and discourage branch banking until we are completely come out of the pandemic times,” says Victor Etuokwu, Executive Director, Retail Banking, Access Bank Plc.

Access Bank innovates to give customers more access to funds in COVID times

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To activate this service, all our customers need to do is dial *901*14# from the comfort of their homes, choose credit as account type on any POS or ATM terminal during any transaction to access the credit line through their debit card.

READ ALSO: Access Bank makes top 500 global banking brands

“The dual card service from Access bank Plc is the first-of-its-kind on the continent. The features of the dual transaction service represent another milestone in our mission to transform banking and demonstrates how far we have come in such a short time,” he added.

Access Bank recently donated N1 billion as part of its contribution to fight coronavirus in Nigeria. The Bank has also reached out to its customers via several communications (SMS, Emails) to go cashless by using the Access Bank electronic and digital platforms during this period of the pandemic to remain safe.

To activate for the dual transaction service, simply dial *901*14# or click HERE to learn more.

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20 Comments

20 Comments

  1. Mac D

    April 2, 2020 at 9:09 pm

    Nice one

  2. Anonymous

    April 3, 2020 at 3:02 am

    Good update

  3. Chamz

    April 3, 2020 at 3:03 am

    Good update

  4. HoneyBunny Jess

    April 3, 2020 at 11:33 am

    Very nice.

    However during this lock down most people especially the middle class or below average, those that are on daily pay might not actually get access considering it has to be people who earn N20,000 and above to access this new update. However I do plead to access Bank to come up with a sort of minimal saving scheme ( can call it SHARP SAVING) like from N1000. people can be told that a bid to help them this period, they can save minimal of N1000 and get N4000 at the end of the month. You will that most people will increase savings because they believe since the shut down of companies and offices they need a way to get money. And thus the bank can provide such secured way of boosting finance. That’s just my opinion tho. Thanks

  5. Maryam zakari

    April 3, 2020 at 12:13 pm

    The best bank

  6. Anonymous

    April 3, 2020 at 9:11 pm

    The innovative bank.

  7. Chukwuemeka Okonkwo

    April 3, 2020 at 9:55 pm

    Impressive!

  8. Adetayo Fatima

    April 3, 2020 at 11:55 pm

    The best bank so far, my favorite nice one

  9. Adetayo Fatima

    April 3, 2020 at 11:59 pm

    My favorite nice one

  10. Idowu Olayinka Samson

    April 4, 2020 at 12:21 am

    Wonderful. I just love this bank always. Carry on the good work

  11. African Surveys

    April 4, 2020 at 2:38 am

    I really don’t believe any bank can do this. You are tooo much Access Bank. Good idea.
    But, what of those on daily pay. What’s their hope. I think if this option can be made available to them too but must be to anyone whom money runs through his or her account regularly.

  12. Remi olanipekun

    April 4, 2020 at 7:10 am

    It’s a good gesture if it will work.

  13. Yinka

    April 4, 2020 at 11:38 am

    The Western world is giving stimulus all over the place what stops these banks in crediting the accounts of all their customers no matter how little. They can also freeze the loan repayments till the situation normalizes. Being poor in Nigeria is doom.

  14. Anonymous

    April 4, 2020 at 8:12 pm

    My best bank, nice idea but how did you made your contribution to the fight of covid 19. We expected you to credit the accounts of your customers with that mentioned amount than giving it to govn.

  15. John

    April 4, 2020 at 8:13 pm

    My best bank, nice idea but how did you made your contribution to the fight of covid 19. We expected you to credit the accounts of your customers with that mentioned amount than giving it to govn.

  16. Sulphate

    April 5, 2020 at 12:16 am

    Ooooooin! I say Oooooinnn!! Access Bank! You have done well.

  17. Olamide

    April 11, 2020 at 8:36 pm

    Bt pls I was sent a message that I have been approved for the credit limit fund and I went to the POS and ATM to take some cash, my ATM was declined, pls wat can I use to get dis offer

  18. Benahili smart manna

    April 19, 2020 at 9:53 am

    Nice one from access bank thanks for carrying your customers along side this pandemic period may God continue to increase and expand your initiatives the more for this kind mind you have brought out to assist the masses, but i want to chip in one order thing please why is it that those that hasn’t gotten an ATM can not have access to the cash they already borrowed in their account nor transfer the funds to another account or bank were they can make withdrawal since the bank is not operating now for them to get an ATM card thanks please. Notice very important please we are many that are facing this challenges now presently we are stuck at your bank no hope of withdrawal i have downloaded my access banking advice from pple despite that to know avail thanks

  19. Benahili smart manna

    April 19, 2020 at 11:00 am

    Super thanks to access bank for carrying her customers along side in this difficult time of this epidemic covid- 19 i appreciate your operations and your warming relationship towards your customers but permit me to chip in something i feel that has been bothering me along side customers whom are also facing same challenges too at home, for those of us whom have borrowed your token but don’t have access to your ATM card for now to withdraw or to transfer to order bank account were they can withdraw are really going through difficult time now unlike myself i was advice to download access mobile banking of which i did but despite that to know avail unless we see the customer service before we can have access to the borrowed funds in our account please kindly help us out with your kind banking system on the pin to enable transfer till full operation will commence at access bank thanks a lot for your concerned

  20. Anonymous

    April 19, 2020 at 12:46 pm

    It’s Audio credit facility. Myself and all colleagues have salary account with Access bank. There’s no one out that has successfully got credit from the DTS. It’s a fat lie.

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“We enable ATM withdrawals without a card” – Ecobank

With Xpress Cash, customers can send money to their loved ones who are not even banked.

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Ecobank Transnational's 32nd AGM

Ecobank has stated that cash withdrawals can be made at all its ATMs, without a card. The Ecobank cardless withdrawal concept, Xpress Cash, enables users to withdraw cash from ATMs using only a mobile phone, no ATM card is required.

The solution is seamless, secure and is driven by the generation of a code (e-token) by an account holder via the bank’s USSD code *326# or mobile app, Ecobank Mobile.  The e-token can be sent to customers, non-customers and even people without bank accounts for cash withdrawal at all Ecobank ATMs nationwide.

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Speaking in Lagos, Head, Consumer Banking, Olukorede Demola-Adeniyi said, “Digital payments are fast evolving. Customers want seamless experience across channels. We are committed to providing suitable options for our customers. Forgetting your card at home should not be a showstopper when you need cash.”

She went on to explain that the concept recognises the needs of the unbanked. In her words, “With Xpress Cash, our customers can send money to their loved ones who are not even banked. You can send money to your domestic servants or unbanked staff just by generating a code and sharing the code.”

“As a bank, we are not only keen to make our services accessible, but also affordable. Xpress Cash attracts only a flat charge of N50. Our USSD code, *326# offers zero session charges; and transfers of N5000 or less using our digital channels are absolutely free of charge. Also, people abroad who need to send money to their loved ones can do so without paying transfer charges using the Rapidtransfer app,” she said.

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LSETF re-launches Idea Hub for tech start-ups

The programme would afford budding entrepreneurs with the necessary leverage to grow their ideas.

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In line with its mandate to provide entrepreneurship solutions, training, and upskilling opportunities to innovative entrepreneurs and start-ups in the Lagos tech ecosystem, the Lagos State Employment Trust Fund (LSETF) has re-designed the Idea Hub Programme, under its Lagos Innovates Programme.

The Lagos Innovates Idea Hub Programme is a 12-week incubation programme designed to support tech-enabled businesses with relevant skills, networking opportunities and mentorship from seasoned industry experts; geared towards building a competitive and sustainable brand.

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It is expected that the programme would afford budding entrepreneurs with tech solution with the necessary leverage to grow their ideas. The benefits include business incubation and coaching by Lagos Innovates experienced and seasoned Mentors; an opportunity to pitch for Lagos Innovates Workspace Vouchers for 6 or 12 months (valued between ₦120,000 – ₦1,800,000); and access to Lagos Innovates network including Government, corporates, start-ups, local and international investors, etc.

In her remarks on the initiative, the Executive Secretary/CEO, LSETF, Mrs. Teju Abisoye said; “The Lagos Innovates Idea Hub is a programme under one of our delivery mechanism tagged Tech Start-ups (Lagos Innovates), primarily responsible for cementing Lagos’ position as the leading destination for tech and innovation in Africa. With the recent global economic challenges due to the pandemic, we believe technology will be critical in proffering recovery and adaptive solutions as the world embraces the new normal.

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Some of the seasoned mentors and industry experts of the programme are Bilikiss Adebiyi-Abiola, Founder, We-Cyclers, and DG, Lagos State Records and Archives; Olu Akanmu, Executive Director Retail Banking, FCMB; Nkemdilim Uwaje Begho, CEO, Future Software Resources Ltd; Ponmile Osibo, Partner, Platform Capital; Wale Ajiboye, Associate Director, Acumen; Oluwatoyin Oshinowo, Co-founder and VP Product, Field Insights; Dr Olanrewaju Phillips, Enterprise Account Manager, HP, Central Africa, and Odunayo Eweniyi, Co-Founder and COO, Piggyvest.

Other mentors are Olutosin Oni, Principal, Echo VC; Damilola Thompson, Vice President and Associate General Counsel, Echo VC; Oluwatoyin Emmanuel-Olubake, Associate Director of Portfolio, Acumen; Dayo Kolewole, Partner Microtraction, and Simeon Ononobi, Co-founder/CEO, Thank U Cash.

Interested applicants must run an early-stage start-up with viable and solution-driven ideas; technology must be the core or the enabler of the enterprise, and the founder must reside in Lagos State. Applicants should visit https://ideahub.lagosinnovates.ng to apply before the deadline date, Sunday 16th August 2020.

About Lagos State Employment Trust Fund (LSETF)

Established in 2016, LSETF’s vision is to create employment and entrepreneurship opportunities to reduce unemployment in Lagos State. LSETF focuses on promoting entrepreneurship by improving access to finance, strengthening the institutional capacity of micro, small, and medium enterprises (MSMEs), formulating policies and actively intervening to improve the business environment. The Agency also trains and places unemployed Lagos residents in jobs, while driving innovation within the Lagos ecosystem.

Learn more at https://lsetf.ng. Communications contact: Charles Anyanwu, [email protected]

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United Capital Asset Management explains mutual funds’ positive performance

Available data showed that the funds surpassed the market realities and beat the benchmarks.

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United Capital Asset Management explains mutual funds’ positive performance

United Capital Asset Management mutual funds have recorded significant growth despite the COVID-19 pandemic that has affected the economy and headwinds in the financial markets. Data made available showed that the funds surpassed the market realities and beat the benchmarks.

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