UBA agent banking

Banking

How to join UBA agent banking (UBA moni agent)

How to join UBA agent banking (UBA moni agent)

UBA agent banking – The quest to deepen financial inclusion has continued to create opportunities for all in the financial industry.

Agent banking is the order of the day, banks are building into this opportunity to further penetrate the market, while serving their customers with financial services accordingly.

Understanding the concept “Agent banking”

Agent banking is the practice in which provision of financial service is made to customers by a third party called “agent” on behalf of a licensed deposit taking financial institution and or mobile money operator.

The operation of an agent is usually in the rural locality targeted at the under banked and unbanked.

By saying this, it then stands to mean that everyone is now at leverage to accessing financial services irrespective of their locations.

It then feels safe to say “More people are beginning to imbibe in local financial services, to as well broaden their appetites and horizon” which use to be a scarce commodity in the past.

Major benefits of agent banking

Agent banking comes with a good number of benefits, to the bank, the agent and the customers at large.

#1. Comes with an easy platform – This platform enables an agent put money and withdraw same easily from a digital wallet.

Which means to say the agent can withdraw or send funds on behalf of the customer.

Going by this, the agent serves the unbanked and the under banked.

Read also: How to become a Firstmonie agent in Nigeria

This service may be carried out via channels like Mobile phones, POS TERMINALS, card readers etc.

#2. Prompt service support available – A hand full of transactions are supported on the platform.

This include but not limited to voucher-less prepaid top-up, top-up prepaid voucher sale, loan repayments, account balance queries, cash withdrawal, deposit etc.

#3. It’s secured – Security and fear is top on the priority of financial service consumers, in this light, customers may be issued a pin and card, which are readable by the agent’s terminal.

By doing this, their security is guaranteed to forestall unauthorized access to their funds.

#4. Product cross sell – Agents take advantage of traffic toll in business location to sell other products to these customers, who are mostly willing to go extra mile for a patronage.

With that out of the way now, let’s move to a detailed aspect of this guide.

“How to join UBA agent banking (UBA moni agent)”

You should be abreast that UBA Moni is a way the bank ensures excluded individual becomes part of financial world.

UBA moni agents speak the language of the community they serve.

What you can do at the UBA agent banking location

  • Account opening
  • Cash withdrawal
  • Send money
  • Cash deposit
  • Bill payment etc

Read also: SurePadi agent – How to become a SurPadi agent in simple steps

Intending agents should have it at the back of their minds, they will be the custodians of the above mentioned services as part of their business process.

UBA Agent banking requirements

  • You will be required to open a standard savings account
  • You’ll provide a verifiable ID card (Voter’s card, Driver’s License, International passport or National Identity card).
  • You should have an existing business location with at least moderate traffic
  • You will need at least N50,000 cash requirement to fund and kick start, this is your money, you aren’t paying anyone, so make no mistake about that.

Facts you should know as an intending UBA agent

1# Agents representing the bank usually have a “UBA Moni agent” signage as part of their identification, in addition to other banking materials.

#2. As a UBA agent, you have an additional responsibility to open accounts for customers who wish to do so, the bank sees to your commission.

#3. Apart from cash deposit, withdrawal and transfers, you can also register for your Bank Verification Number (BVN) and pay other bills at the agent location.

#4. Transactions are authenticated via soft token (OTP- One Time Password) before it’s completed.

You will likewise receive SMS notification from the bank as proof of your transaction.

#5. For conflict and complaints resolution, the agent will work closely with relationship managers who handle complaints promptly.

Read also: Z-Money – How to become a zenith bank POS agent

Frequently ASKED Questions on UBA agent banking

Q1. UBA POS/charges – Pont of Sale terminal is a veritable tool in actualizing cashless banking objectives, they are more popular means of receiving payments and transacting business.

Benefits

  • Speed and accurate- No more queues
  • Safety with less cash – Less vulnerable to theft

Target merchants

  • Established businesses or stores with trade of goods and services
  • Merchant could be one man business, retail chain of stores, distribution chain, large corporates.

Q2. UBA agent banking requirements – This has been taken care of above, however, to refresh your mind, do go through the below requirements;

  • You will be required to open a standard savings account
  • You’ll provide a verifiable ID card
  • You should have an existing business location with at least moderate traffic
  • You will need at least N50,000 cash requirement to fund and kick start, this is your money, you aren’t paying anyone, so make no mistake about that.

Q3. Zenith bank agent banking– follow this link to read everything about becoming a Zenith bank/Z-Money agent.

Q4. How to get access bank POS – You may get an access bank POS by becoming an Access bank agent Here.

Q5. UBA Moni agent contact – Kindly send a mail to [email protected]

Conclusion

The sole aim of UBA agent banking is to deepen financial inclusion using electronic channels like mobile phones, POS terminals, card readers etc, to render financial services to rural unbanked and under banked.

Read also: How to become an Opay agent and make money from it in 2020

This is to ensure that no one is left out, irrespective of their locations, this has been found to bring about a sense of belonging and financial prosperity at large.

I will be glad to entertain questions and enquiries on this topic, do use the comment below and thank you so kindly for reading.

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