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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

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.

Nairametrics often allows the usage of its website for businesses wishing to send out important press releases, articles and other communication forms of their products, services, events, employees, and personalities. Some of these articles are paid for.

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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NM Partners

RED | For Africa is redefining work culture on the continent

“At RED | For Africa, we have always embraced an increasingly progressive work culture in response to the extant global research on the subject matter.” – RED

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RED

As more and more global attention shifts towards investing in the physical and mental welfare of people, an increasing number of companies are moving towards a human-centered approach to policymaking and accepted work culture.

At RED | For Africa, we have always embraced an increasingly progressive work culture in response to the extant global research on the subject matter. We have over the years, practiced a remote work culture, granting team members weekly work-from-home days, periodic work-from-home weeks, and more. This is why we seamlessly adopted a complete work-from-home policy long before the government-mandated lock-down in March, making us one of the first companies in West Africa to do so.

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Nonetheless, it has become necessary to cushion the likely effects of working from home during the COVID-19 pandemic. Also, considering the ease with which work can spill into personal time, and how a constant presence in one space can considerably deplete creativity, we decided to completely shut-down work on 21 March, 2020, allowing team members to recharge and come back fired up, and ready to better serve our clients.

Just recently, Google and Facebook announced that they have decided to extend their work-from-home till the end of the year. Twitter also announced that its employees could work-from-home “indefinitely”. This shows an increased leveraging of technology in order to make the way work is done better and more efficient for both the employer and employee.

A research in International Journal of Science shows that employee productivity, mental well-being and overall work-performance begin to suffer when there is no adequate break from work. It concluded that breaks albeit ignored for fear of losing productivity actually increase productivity, lessen fatigue, stress and boredom, and reduce job-related strain and accidents. Overworked employees often deal with chronic stress that can result in job burnout which will not only affect employee health and well-being but the company’s bottom line.

Amongst other innovative steps we are taking at RED, we’ve also opened a food bank for team members who require support in these times and created ‘The Huddle’, a weekly mental and emotional release and engagement channel for the team as we navigate the pandemic. This is the new normal and we are more than ready to adapt and make the most of it.

Above all, we have made a commitment as a company, to continually align our operations with emerging research backed by data. So whether it’s work-from-home, shutdown, or any other practice that will improve team performance and well-being, we’re always willing to adapt.


EDITOR’S NOTE: This is a sponsored content.

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Develop Homegrown Solutions, Human Capacity and Invest in Agriculture to Rebuild Africa; Experts say at UBA Africa Day Conversations

•Prioritise SMEs Development
•Advocate Partnerships between Private Sector and Government

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African thought leaders and great minds have noted that the development of homegrown solutions and adequate investment in human capacity building and agricultural expansion are key steps that will help to rebuild Africa and put the continent on a stronger footing post Covid-19.

Analysing the theme ‘Domestic Policies, Regional Development and a Global Agenda: SDGs and African Development at Crossroads; the speakers collectively gave this submission during the second panel session of the 2020 edition of United Bank for Africa (UBA) African Day Conversations.

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The virtual session, which was moderated by Veteran Journalist and Media Consultant, Eugenia Abu, was made up of thought leaders from across Africa, including the Regional CEO, UBA West Africa, Abiola Bawuah (Ghana); Senior Program Coordinator, Regional Network of Agricultural Policy Research Institutes, Dr Nalishebo Meebelo (Zambia); Leadership Coach and Chairman, Go Ahead Africa Ltd, Roland Kwemain (Cameroon); Founder and Executive Director, Social Change Factory, Sobel Aziz Ngom (Senegal); Special Assistant to the President Muhammadu Buhari on Digital and New Media, Tolu Ogunlesi (Nigeria); and Social Entrepreneur and Founder, LEAP Africa, Ndidi Nwuneli (Nigeria).

Abiola Bauwah who emphasised how Africa should rely less on foreign donors, said, “There are five areas we should work on more for us to reach the SDG goals; the private sector; rapid industrialization; institutions and the rule of law; develop our human capital; remove the barriers across Africa. We should institute Africapitalism which is an economic philosophy that says that the human and capital resources of Africa are the only ways in which we can develop Africa.”

Nalishebo Meebelo noted that there’s a lot that young people can do along the value chain of manufacturing, transporting, technology and marketing, adding that, “Government cannot do it alone, they need to work with other stakeholders. Cut and paste solutions do not work for us here in Africa, we need to have our own homegrown solutions to fight this pandemic.”

Eugenia Abu, who focused on the huge role that women and youth must play in rebuilding the continent, said that Africa had to work together to provide solutions to its numerous challenges. “Women, entrepreneurial champions, young people and collaborations between African countries are very key to developing Africa,” she stated.

Ndidi Nwuneli who was saddened that the agricultural sector remained hugely untapped, emphasised the need for a change of mindset where people usually equated agriculture to poverty. “This is a $1 trillion industry and we are neglecting it; therefore my charge to you is that we invest in the agricultural sector, prioritize it, leverage it, transform our educational system to prepare our young people for this sector, change the mindset and trade with each other,” she explained.

Sobel Aziz Ngom pointed out the need for the youth to take charge in Africa. “It is time to not just serve young people, but to trust them to lead. The challenge that we have at the domestic and continental level is making the change in our structure and in the political system that give the place to young people to be 100% engaged,” Ngom stated.

In his own submission, Tolu Ogunlesi, said, “All over the countries young people are seizing opportunities, and we need to start thinking about how to make sure that this is not just for the age of COVID but for now and beyond COVID-19. Even if the pandemic was to disappear today, I hope that the lessons we’re learning, we’re not going to forget them and go back to where we used to be.”

For Roland Kwemain, more institutions need to tow the line of UBA in events such as UBA Africa Conversations. “If 100 multinationals in Africa were doing that UBA is doing, we would go far because CSR is an amazing leverage not just for the brand but also for supporting people & women in terms of activities. The truth is that we need partnership between the government, corporates and the civil society,” he said.

The United Bank for Africa is a leading pan-African financial institution offering banking services to more than twenty million customers globally. With footprint in 20 African countries and presence globally in the United Kingdom, the USA and France, UBA is connecting people and businesses across Africa through retail, commercial and corporate banking, innovative cross border payments and remittances, trade finance and ancillary banking services.

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Get access to Eurobonds on Wealth.ng

Like every other investment, buying Eurobonds should be a well thought out process and not just another plight to add to your investments or be tagged a Eurobond investor.

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Now you have access to buy USD denominated Bonds from FGN and other Corporate entities like Fidelity, UBA, Ecobank etc directly from Wealth.ng.

What is a Eurobond?
A Eurobond is a fixed-income debt instrument (security) denominated in a different currency than the local one of the country where the bond is issued. Hence, it is a unique type of bond.
Eurobonds are not necessarily denominated in Euros as the name implies. For example, bonds denominated in US Dollars are better known as Eurodollar bonds, while those denominated in Japanese Yen are called Euroyen bonds.

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Benefit to Investors
• Affordable: The main benefit to local investors in purchasing a Eurobond is that it is relatively cheap to obtain.
• Liquidity: Importantly, Eurobonds are highly liquid and can be converted into cash within one fiscal year. Since the bonds are fixed-income securities; Eurobonds usually offer a fixed interest rate to investors such as yourselves and we have made this readily available to you on Wealth.ng.
• Foreign Exposure: There is also exposure to foreign investments staying in the home country.
• Diversification: It also gives a sense of diversification spreading out the risks.
So If you’re looking for new ways to invest in the ever-changing economic environment, the FGN and Corporate Eurobonds (USD) are your ideal choice to increase your chances of positive returns and earning a profit on your investment.

How to invest in Eurobonds on Wealth.ng
The process of investing in Eurobonds in Nigeria does not differ from that of ordinary bonds. Simply select your preferred Eurobond product, and make payment directly on Wealth.ng. Please note that you can get started with a minimum of $500 and a 1% penalty fee applies for early liquidation.

Before you Buy
Like every other investment, buying Eurobonds should be a well thought out process and not just another plight to add to your investments or be tagged a Eurobond investor. It is advisable to review and understand the risk profile of any Eurobond that you are interested in buying.
Get started with Investing in Eurobonds on Wealth.ng— www.wealth.ng

 

 

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