By Babajide Komolafe

The Management of UBA PLC has defended its proposed N25,000 minimum account balance, saying there is no ging back on the policy as it is intended to offer better services to customers.

“This decision is motivated by our desire to serve our customers better. We want to significantly improve customer service and optimize our resources” , said Kennedy Uzoka , Executive Director , Resources, adding that the initiative is based on Management’s continuous efforts to improve on customer service delivery in the bank.”

Explaing the in the implementation of the initiative, he said, “ The bank is not unmindful of some of the inconveniences it would cause.

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”.

He further explained some accounts are however expeted from the proposed minimum balance. These he said are Salary/Pension Accounts whether Savings or Current , Overdraft/Facility linked Current Accounts , Loan Accounts , Savings/Current Accounts linked to Deposits/Investments , and Para-military/Military/Ex-Servicemen Accounts.

The bank however offered those who cannot meet with the new minimum opening balance the option of migrating to self- service e-banking 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.

Managing Director/Chief Executive, Afripay, the subsidiary company of the bank in charge of U-Mo, Mr yinka Adedeji said that the bank was trying to bring in mobile cash payment platform known as U-Mo, to provide customers with convenience and assess to self-service e-banking.

The system according to him makes customers accounts management devoid of any hassles in a simplified process and its giving its customers up to November to migrate to this new plan or shore up their account and that this is not a drastic action as they want to improve the quality of their services.