UBA launches salary advance package for customers

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United Bank for Plc (UBA) has launched an international card for salary account holders, enabling them to get a credit advance ahead of their pay-day.
solution dubbed “U-Advance Card” is designed for staff of reputable organisations and High Net-worth individuals (HNIs) receive regular monthly salary.
UBA’ innovation is coming at a time when of high-net-worth individuals is set to increase and general.
According to a recent report by New World Wealth, is home to at least 15,700 high-net-worth individuals (HNWIs) as at 2013, and will increase by 47 percent to 23,000 2017.
South and Egypt are also home to most of the continent’ high-net-worth individuals.
Meanwhile, customers a valid UBA salary account which has been use for at least three months can use the “U-Advance Card” to withdrawals across ATMs and PoS. They can also use the card to web purchases.
For new customers, they have to operate their salary account for six months before they are eligible to benefit the product.
UBA Divisional Head, e-Banking, Adeyinka Adedeji described the solution as an “easy and quick access to extra funds during their monthly salary cycles, in form of a revolving, secured credit facility.”
“The U-Advance Credit card” is designed to help strengthen the bank’ growing retail business across Africa.
To guarantee card security, the “U-Advance Card” comes the EMV certified chip & PIN and a 3D Secure feature for enhanced protection during web transactions.
seven retail customers in , UBA’s U-Advance Credit Card is accepted in and across other 17 African nations where the bank operates. (VENTURES AFRICA)