I t was just a few days to pay-day but John was really broke. He has watched his bank account going down by the day since the last pay-day. This month has been particularly stressful for his finances. He has had to pay his annual house rent and that has taken all of his savings and this month's salary. He was already out of cash by middle of the month and has been surviving with the support of his wife. But his wife is also running out of cash and right now John knew he had to get some money from somewhere to survive until next pay-day.
John had approached several of his colleagues but almost all had similar cash challenges. They were all hanging on till pay-day. John's cash crunch was becoming a crisis. His productivity at work started dropping as his concentration declined; coming to work each day was becoming a challenge. John knew he had to find a solution to his financial situation soon and very fast. So, it was a huge relief when John picked up the newspapers on Monday and read that
John immediately knew he had a solution to his problem. At least, he could get some money ahead of pay-day. A statement from the bank quoted its Divisional Head, e-Banking, Dr.
"The advantage of the U-Advance credit card is that it simplifies the credit process. So, it is not every time you have a temporary liquidity challenge that you fill out a form and go through the strenuous process of applying for a loan. Once you have a U-Advance Card, you can always meet any temporary cash crunch by just approaching the ATM. The card becomes your permanent access to credit anytime you need it," he explained. UBA explained that the U-Advance Card complements UBA's existing suite of retail credit products in the form of a naira-based, short-term, secured financing targeted at salary account holders and will provide frictionless access to much needed credit with the cardholder's monthly salary as security.
The statement explained further that "It is however available only to salary account holders with
For safety, the U-advance card comes with the EMV certified chip and PIN technology plus the 3D Secure feature for enhanced protection during web transactions. "The U-Advance Credit card has been introduced in line with UBA's strategy of growing its retail business across
UBA, with more than seven million retail customers, is a major issuer of payment cards in the country. The bank issues
UBA Debit and Prepaid Cards as well as the newly introduced U-Advance Credit Card are accepted across the 18 African countries the Bank operates in addition to over 30 million merchants locations around the world. An ideal travel companion during the holidays, UBA cards offer convenience and a safer alternative to cash.
A leading player on the African continent, UBA has significant market share and operations in 19 different African countries. The Group has a strong retail franchise across the continent offering its more than seven million customers a bouquet of products and services tailored to meet their different financial needs.
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