UBA Introduces Reloadable Prepaid Card
The United Bank for Africa (UBA) Plc said it has introduced a reloadable prepaid card offering customers financial control, convenience and security.
The UBA prepaid card, according to the bank, is available in Nigeria and 18 African countries where it is located. The bank also added that the card is accepted at all VISA acceptance points, on over one million Automated Teller Machines (ATMs), 30 million Point of Sale (PoS)/merchant terminals in over 179 countries across the world.
UBA further described the card as “one of the most prestigious prepaid cards in the world. It gives user full control over personal finances as it is not linked to any bank account and therefore attracts no minimum balance.”
Commenting on the new product, Head, e-Banking, UBA, Dr. Adeyinka Adedeji said the UBA prepaid card helps customers control spending and be in control of their funds making it ideal for budgeting and travel.
“It is also ideal for students and even employees or casual workers who may not have a Bank Account,” he said.
Other key benefits of the card, according to him, include “efficiently allowing customers that cannot get approval for a current account to have access to financial services and deepen financial inclusion; while banked customers can still use the prepaid card to effectively manage their spend to what they have loaded on the Card.
“In addition, they can limit their account exposure by using prepaid card online or at locations where they do not trust safety of their information. Travelers can load Naira and be able to spend as much as $40,000 equivalent per annum on the secure card which is protected with the CHIP and PIN technology,” Adedeji said.