Pay-Day is no
longer end of the month. It is any day you choose. United Bank for Africa
(UBA) Plc has just delivered to workers the power to determine what day is Pay-Day.
longer end of the month. It is any day you choose. United Bank for Africa
(UBA) Plc has just delivered to workers the power to determine what day is Pay-Day.
No longer do monthly
paid workers have to wait till that time between 24th and 30 th or
31 st day of the month to be paid. With
UBA’s new U-Advance card, the pressure of waiting to be paid so that emergency
expenses can be taken care of has been removed.
paid workers have to wait till that time between 24th and 30 th or
31 st day of the month to be paid. With
UBA’s new U-Advance card, the pressure of waiting to be paid so that emergency
expenses can be taken care of has been removed.
The “U-Advance
Card,” is a payment card that allows workers who operate a salary account with
UBA to get a credit advance ahead of pay-day.
Card,” is a payment card that allows workers who operate a salary account with
UBA to get a credit advance ahead of pay-day.
John, a staff of a
consulting firm based in Lagos admits that U-Advance Card is one of the best
products to have come out of any financial institution.
consulting firm based in Lagos admits that U-Advance Card is one of the best
products to have come out of any financial institution.
“I ran into a recent difficult but temporary
financial situation recently. I needed to register my child in school and I had
the opportunity to get a 50% discount if I registered him before 15 th of the month.
I was cash strapped and could not get anyone who was not cash strapped enough
to lend me some money. If I had a U-Advance Card, I am sure I could have easily
paid and taken the discount. Sadly, I eventually paid the full amount without
the discount when I was paid at the end of the month”
financial situation recently. I needed to register my child in school and I had
the opportunity to get a 50% discount if I registered him before 15 th of the month.
I was cash strapped and could not get anyone who was not cash strapped enough
to lend me some money. If I had a U-Advance Card, I am sure I could have easily
paid and taken the discount. Sadly, I eventually paid the full amount without
the discount when I was paid at the end of the month”
Temporary
financially difficult situations as described by John above is what U-Advance
card is set to resolve, explains Dr. Adeyinka Adedeji, Divisional Head,
e-Banking, UBA Plc.
financially difficult situations as described by John above is what U-Advance
card is set to resolve, explains Dr. Adeyinka Adedeji, Divisional Head,
e-Banking, UBA Plc.
“The U-Advance Card
is an internationally accepted card payment solution designed to address the
salary account holders’ need for easy and quick access to extra funds before
pay-day. It is a form of a revolving,
secured credit facility” explains Dr Adedeji,
is an internationally accepted card payment solution designed to address the
salary account holders’ need for easy and quick access to extra funds before
pay-day. It is a form of a revolving,
secured credit facility” explains Dr Adedeji,
“The advantage of
the U-Advance credit card is that it simplifies the credit process. So, it is
not every time you have a temporary liquidity challenge that you fill out a
form and go through the strenuous process of applying for a loan. Once you have
a U-Advance Card, you can always meet any temporary cash crunch by just
approaching the ATM. The card becomes your permanent access to credit anytime
you need it.” He explained.
the U-Advance credit card is that it simplifies the credit process. So, it is
not every time you have a temporary liquidity challenge that you fill out a
form and go through the strenuous process of applying for a loan. Once you have
a U-Advance Card, you can always meet any temporary cash crunch by just
approaching the ATM. The card becomes your permanent access to credit anytime
you need it.” He explained.
UBA explains
that the U-Advance Card complements UBA’s existing suite of retail
credit products in the form of a Naira based, short term, secured financing
targeted at salary account holders and will provide frictionless access to much
needed credit with the cardholder’s monthly salary as security.
that the U-Advance Card complements UBA’s existing suite of retail
credit products in the form of a Naira based, short term, secured financing
targeted at salary account holders and will provide frictionless access to much
needed credit with the cardholder’s monthly salary as security.
It is however
available only to salary account holders with UBA Plc, but non-UBA customers
can pre-qualify by opening a salary account with UBA. It is Ideal for staff of
reputable organizations, affluent and high networth individuals (HNIs) who
receive regular monthly salary; individuals wishing to obtain the U-Advance
credit card can approach the nearest UBA business office for details on
eligibility and how to apply.
available only to salary account holders with UBA Plc, but non-UBA customers
can pre-qualify by opening a salary account with UBA. It is Ideal for staff of
reputable organizations, affluent and high networth individuals (HNIs) who
receive regular monthly salary; individuals wishing to obtain the U-Advance
credit card can approach the nearest UBA business office for details on
eligibility and how to apply.
It is also interesting to know that the
U-Advance card is accepted locally and internationally. U-advance cardholders can make cash
withdrawals at over 1.9 million ATMs worldwide and POS or web purchases at more
than 30 million retail outlets around the world.
U-Advance card is accepted locally and internationally. U-advance cardholders can make cash
withdrawals at over 1.9 million ATMs worldwide and POS or web purchases at more
than 30 million retail outlets around the world.
For safety, the
U-advance card comes with the EMV certified chip and PIN technology plus the 3D
Secure feature for enhanced protection during web transactions.
U-advance card comes with the EMV certified chip and PIN technology plus the 3D
Secure feature for enhanced protection during web transactions.
“The U-Advance
Credit card has been introduced in line with UBA’s strategy of growing its
retail business across Africa and strengthens its position as Africa’s
financial solution power house. Access to this credit card is relatively easy
as the main requirement is a valid salary account which has been operated for a
period of no less than three months for existing customers and six months for
new customers.” Dr Adedeji explained.
Credit card has been introduced in line with UBA’s strategy of growing its
retail business across Africa and strengthens its position as Africa’s
financial solution power house. Access to this credit card is relatively easy
as the main requirement is a valid salary account which has been operated for a
period of no less than three months for existing customers and six months for
new customers.” Dr Adedeji explained.
UBA, with more than
seven million retail customers, is a major issuer of payment cards in the
country. The bank issues MasterCard, Visa and Verve cards. UBA also pioneered
the issue of Prepaid Cards in the country, which can be used without a bank
account.
seven million retail customers, is a major issuer of payment cards in the
country. The bank issues MasterCard, Visa and Verve cards. UBA also pioneered
the issue of Prepaid Cards in the country, which can be used without a bank
account.
Cards are a key
part of the UBA e-banking strategy hence the bank’s strategic partnerships with
credible local and international retailers to ensure that all customers enjoy
the advantages and convenience which come with the use of its payment
cards.
part of the UBA e-banking strategy hence the bank’s strategic partnerships with
credible local and international retailers to ensure that all customers enjoy
the advantages and convenience which come with the use of its payment
cards.
UBA Debit and
Prepaid Cards as well as the newly introduced U-Advance Credit Card are
accepted across the 18 African countries the Bank operates in addition to over
30 million merchants locations around the world. An ideal travel companion
during the holidays, UBA cards offer convenience and a safer alternative to
cash.
Prepaid Cards as well as the newly introduced U-Advance Credit Card are
accepted across the 18 African countries the Bank operates in addition to over
30 million merchants locations around the world. An ideal travel companion
during the holidays, UBA cards offer convenience and a safer alternative to
cash.
The UBA Group is a
highly diversified financial services provider, with business offices in New
York, Paris and a subsidiary in London. A leading player on the African
continent, UBA has significant market share and operations in 19 different
African countries. The Group has a strong retail franchise across the continent
offering its more than seven million customers a bouquet of products and
services tailored to meet their different financial needs
highly diversified financial services provider, with business offices in New
York, Paris and a subsidiary in London. A leading player on the African
continent, UBA has significant market share and operations in 19 different
African countries. The Group has a strong retail franchise across the continent
offering its more than seven million customers a bouquet of products and
services tailored to meet their different financial needs
