Pan African financial institution, United Bank for Africa (UBA) Plc, is set to reward consistent customers with a 13th-month cash reward as well as access to scholarships in the upgraded and revamped UBA Kiddies and Teens Accounts.
To qualify for these exciting rewards, customers need to maintain a minimum balance in these accounts which have been designed to enable parents and guardians save for their children aged between 0 – 12 years for the UBA Kiddies Accounts and from 13 to 17 years for UBA Teens Account, whilst also teaching the kids money management skills.
Breaking this down to both old and new customers, UBA’s group head marketing and customer experience, Michelle Nwoga, said, the Children banking proposition has been revamped with new offerings to assist parents to imbibe the culture of savings in their kids from a very tender age.
To enjoy the 13th-month reward all the customer needs to do is maintain a standing instruction of saving a minimum of N5,000 for 12 months and they are rewarded automatically; in the same vein, for the Scholarship reward of N200,000; the customer simply needs to maintain a standing instruction of saving a minimum of N10,000 for six months to qualify for a bi-annual draw.
In addition to saving for their child’s future, holders of the UBA Kiddies and Teens accounts can also get discounted healthcare plans.
Nwoga said: “Typically, conversations about money start at home, when parents open their child's first account and the kids start asking questions about money. It’s one of the most important conversations a parent has with their child, hoping to set them on the right track to managing money responsibly."
“And that is why we have introduced exciting benefits and rewards to these account holders to make it easier for parents as they help their kids develop financial and money management skills. Our Kiddies and Teens Account offers parents an opportunity to give their children a head start in life by starting to save for their future early," Nwoga stated.
In a similar development, UBA recently upgraded its mobile and internet banking applications, introducing lots of new, exciting and interactive features to aid banking, while allowing customers to perform unlimited transactions from the comfort of their mobile phones.
UBA’s Group head, consumer & retail banking, marketing, Jude Anele, who expressed delight with the upgrade said that the bank’s numerous investments into digital transformation have begun to yield good returns for customers, going by the reviews already received.
“I will like to let you know that all the investments we have made over the years in the area of technology will begin to yield now because already UBA’s new Mobile Banking App demonstrates our resolve to provide unparalleled experience across all our channels is in line with UBA’s vision to dominate Africa’s digital banking space,” Anele said.
The United Bank for Africa is a leading pan-African financial institution offering banking services to more than twenty million customers globally. With a 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.