Minimum Account Balance: UBA to Migrate Customers to Other Platforms.


Following the introduction of a minimum account balance of N25,000 by United Bank for Africa, customers whose accounts balances are below the   minimum threshold and are not able to upgrade between July 1, 2011   to September 1, 2011 have the option of migrating to self- service channels provided by the bank. The migration of customers to self-service e-banking channels and mobile payment platform, U-Mo, is being done through the various business offices of UBA where the respective accounts are domiciled, in a simplified process, devoid of any hassles. These platforms provide customers much more convenience and access compared to brick and mortar based services.      

Commenting on the increase in the minimum balance Mr. Kennedy Uzoka, Executive Director, Resources said the initiative is based on Management's continuous efforts to improve on customer service delivery in the bank. "This decision is motivated by our desire to serve our customers better. We want to significantly improve customer service and optimize our resources" he said. In the implementation of this new initiative, the bank is not unmindful of some of the inconveniences it would cause.

According to Mr. Uzoka,' cheques drawn on all current accounts which will cause them go below the NGN25,000.00 minimum balance will be honored and an auto alert generated and sent to the affected customer's mobile phone and email, with the information 'the below NGN25,000 account balance" and an advise to regularize"    

United Bank for Africa (UBA) is a leading Pan African Bank with presence in 19 African countries, New York , London and Paris . Headquartered in Lagos , Nigeria ; UBA provides broad-based banking services to over seven (7) million customers across Africa .