Abayomin70:

i lik it 4 one reson there wont b 2 much crowd in uba bank again

they already cleared the crowd from banking hall since. Withdrawing less than N80,000 over the counters attracts fees, so crowd you in the bank now are depositors or those needing services that cannot be done at ATM.

BTW don't you like to see "poor" people?

All mr Sanusi has been trying to do is get noticed at the detriment of economy and poor masses. If he is nt checkd, i fink we are in trouble.

25K!! Imagine! Money enough to start a petty trade.

For a mere rumour/speculation from a faceless UBA official some are blaming Sanusi, the post did not indicate that Sanusi has made it compulsory for all banks to make their  minimum balance #25,000. so why is he being blamed for what is said  to be peculiar to only UBA.or the proposed decision of the management of UBA.
God save Nigeria from sentiments.

A lot of the comments here are funny and emotional while many are also just playing to the gallery or sounding politically correct.

A bank is a company that is into business to make profits.  A bank, just like any other company, that is unable to make profit will die. In doing this, the bank is free to pursue business strategies that will increase its profits or minimize its losses.  In addition, a bank is also free to create its niche and choose not to serve everybody or be everything to everybody.  For example, Citibank Nigeria does not bother itself with making everybody a customer.

It is up to the regulatory body, in this case the CBN, to regulate the banks in such a way that there is a bank for everybody, e.g. microfinance banks, regional banks, etc. The CBN cannot legally force any bank to extend its services to a particular group of people, it can only use moral suasion or political arm-twisting to do so.

So what is Sanusi's problem in this? Why all the abuse on him? Those who are not happy with the decision should close their accounts and move their businesses elsewhere. Let the law of demand and supply do the rest. This is the hallmark of free enterprise.

Granted that UBA's move may not be popular or may be seen as elitist, but is it illegal?  No. Will UBA collapse if all those people close their accounts?  May be not. Don't be surprised that so many of UBA's branches may be making losses and they might actually reduce their loss (and boost profitability) by shutting down some branches that have such meagre balances in large number.

Should a company's focus be on profitability at the expense of service to the people?  I leave that to you to judge as capitalists.

Minimum Account Balance: UBA to Migrate Customers to Other Platforms.
Following the introduction of a minimum account balance of N25,000 by United Bank for Africa, customers whose accounts balances are below the minimum threshold and are not able to upgrade between July 1, 2011 to September 1, 2011 have the option of migrating to self-service 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.
Commenting on the increase in the minimum balance Mr. Kennedy Uzoka, Executive Director, Resources said the initiative is based on Management’s continuous efforts to improve on customer service delivery in the bank. “This decision is motivated by our desire to serve our customers better. We want to significantly improve customer service and optimize our resources” he said.
In the implementation of this new initiative, the bank is not unmindful of some of the inconveniences it would cause. According to Mr. Uzoka, “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”
United Bank for Africa (UBA) is a leading Pan African Bank with presence in 19 African countries, New York, London and Paris. Headquartered in Lagos, Nigeria; UBA provides broad-based banking services to over seven (7) million customers across Africa.

Actually i dnt knw wat CBN and UBA have in their mind, bt honestly i dnt think they have special advicer on public matters. Or betterstill they are talking to d legistlator, the senates and d minister, bt if nt, they are nt serious. For God sake, how did they want the masses to cope, the workers earning less than 18000k, coz they have nt even bn given, and i hope govt is nt using the bank to pay workers salary,coz they have to wait for three months to withdraw 17000K the money they sweat for. They are joking, maybe they want to close down and they are looking for a way to do dat, rubishh sweat for. They are joking, maybe they want to close down and they are looking for a way to do dat, rubishh

Its interesting, I think the bank is printing her obituary. Ow can they come up wit a crippling policy. Ow much are people having that they shud forget N25000 in a bank.
Sanusi hmm I don't kno what to say. The man is an antipeople, he doesnt care abt nigerians. It seems he just reads abt a policy or law or formular and he just applies it without considering nigerians. Something shud be done abt it/him.

Na wao,Som Banks like to dey deceive dierself o,Au much interest our money wey we dey put for Bank dey yield b4,Not to talk of minimum account Balance N25,000,while minimum wage s N18,000(CONTEMPLATING).Sanusi ur own way self just dey contradictory nd, "UBA" nobody get sense for una side dier?,

lmgao

Minimum Account Balance: UBA to Migrate Customers to Other Platforms.
Following the introduction of a  minimum account balance of N25,000 by United Bank for Africa, customers whose accounts balances are below the minimum threshold and are not able to upgrade between July 1, 2011 to September 1, 2011 have the option of  migrating to self-service 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.
Commenting on the increase in the minimum balance Mr. Kennedy Uzoka, Executive Director, Resources said the initiative is based on Management’s continuous efforts to improve on customer service delivery in the bank. “This decision is motivated by our desire to serve our customers better. We want to significantly improve customer service and optimize our resources” he said.
In the implementation of this new initiative, the bank is not unmindful of some of the inconveniences it would cause. According to Mr. Uzoka, “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” 
United Bank for Africa (UBA) is a leading Pan African Bank with presence in 19 African countries, New York, London and Paris. Headquartered in Lagos, Nigeria; UBA provides broad-based banking services to over seven (7) million customers across Africa.

That is a sign of collapse, when intercontinental bank wanted to collapse some years back they increase there balance to N10,000 but they failed, my warning to all UBA customer is that they should shine there eyes

@ okpara ugo. If their aim is to decongest the banking hall, and if people don't transact more than N25,000 weekly, then why did the same UBA offer free account opening some 2 years or so back. They even had the one you can open with just N500. Now how do they want someone who opened an acct with N500 to leave N25,000 in the acct?

As for me, I have reduced my money with them to N1,000. My friends are not far behind me. My wife too.

When they repent, we will repent too.
If you rom.ance with Bank Ole (s), you become an Ole Bank.

Some of the points have been hilarious, some angry and some wisdom!

But I have asked and i was told that this minimum balance does not affect salary accounts, current or savings!

So all of you talking about minimum wage, UBA is apparently not that heartless a company!!!

There are categories of accounts that will not be affected but you have to understand banking to comprehend!

How many people now have savings accounts and actually use savings withdrawal booklets to make withdrawals, then a Bank is giving u a compulsory option to migrate to mobile banking if you cannot fulfill all the criteria to sustain a checking account and we cry.

UBA Useless Bank of Africa wants to try and increase customer service and reduce customer delay and disappointment!

Believe it or not, it is not only in NL that we have intelligent people, there might be some in UBA who knows, only time will tell!

Meanwhile, i am an advocate of the truth and reason! Whatever we will say or do, we will say or do!!!

Dear  Valued Customer,



To improve the quality of service we provide our numerous customers, we write to formally inform you of the =N=25,000.00 minimum account balance requirement by your bank. This is being introduced so that we can continue to provide you, our esteemed client with world class banking services in all your transactions with UBA.

Please note that with effect from July 1 to September 30 2011, we expect you to increase and maintain you  Savings account balance to the new operating balance of =N=25,000.00 if you desire to continue transacting banking business with UBA over the counter. In the unlikely event that you are unable to meet this new requirement by October 1 2011, you will be given the opportunity to migrate to our mobile banking (U-Mo) or E-banking channels so that we can continue to serve you better.

The following account types are exempted from the new =N=25,000 minimum account balance initiative:

§  Salary and Pension Accounts

§  Overdraft and Facility linked Current Accounts

§  Current Accounts linked to Deposit/Investment Accounts with NGN100,000 plus value

§  Para-military/Military/Ex-Servicemen Accounts



For more details or clarification, please do not hesitate to contact your UBA Branch Manager, Relationship Officer or our Customer Interaction Center (CIC) at cic@ubagroup.com or on 01-2808-UBA (i.e. 2808-822) and 0700-CALL-UBA (i.e. 0700-2255-822).

Thank you for continued patronage.



UBA Customer Interaction Centre

………………… Africa ’s Global Bank

Simple. UBA with its Afripay arm wants to be a major player in the mobile banking in the country. This is another strategy of having a huge customer base thereby becoming the champ. Probably will later buy m-kudi or pagatech. Let's see.

This is unacceptable in a country where the minimum salary is below #10,000.

bash673:

Dear  Valued Customer,



To improve the quality of service we provide our numerous customers, we write to formally inform you of the =N=25,000.00 minimum account balance requirement by your bank. This is being introduced so that we can continue to provide you, our esteemed client with world class banking services in all your transactions with UBA.

Please note that with effect from July 1 to September 30 2011, we expect you to increase and maintain you  Savings account balance to the new operating balance of =N=25,000.00 if you desire to continue transacting banking business with UBA over the counter. In the unlikely event that you are unable to meet this new requirement by October 1 2011, you will be given the opportunity to migrate to our mobile banking (U-Mo) or E-banking channels so that we can continue to serve you better.

The following account types are exempted from the new =N=25,000 minimum account balance initiative:

§  Salary and Pension Accounts

§  Overdraft and Facility linked Current Accounts

§  Current Accounts linked to Deposit/Investment Accounts with NGN100,000 plus value

§  Para-military/Military/Ex-Servicemen Accounts



For more details or clarification, please do not hesitate to contact your UBA Branch Manager, Relationship Officer or our Customer Interaction Center (CIC) at cic@ubagroup.com or on 01-2808-UBA (i.e. 2808-822) and 0700-CALL-UBA (i.e. 0700-2255-822).

Thank you for continued patronage.



UBA Customer Interaction Centre

………………… Africa ’s Global Bank

****THERE IS NO KNOWLEDGE THAT IS NOT POWER****

UBA is a bastard bank, sanusi did his, UBA wants to do theirs, they will burn in hell, decongesst the bank my foot!!!! as if they have customers

Seems like it's only UBA doing it.

The idea behind the might be lofty one, but the speed of its introduction and the lack of proper enlightenment makes the whole scenario untidy.

How many of their 7milloin customers know about its U-Mo or E-banking crap??

Even though the account I maintain with them hardly goes below over 10x their new minimum, and so would not be affected by the new policy, I must confess I'm very uncomfortable with it and am seriously considering closing the account.

After all, what stops them from increasing it 50k or even a 100kwhen it suits them?

Lets face the fact, this 25,000 minimum balance trash by UBA is a sure pointer that the bank is either pursuing something or something is pursuing the bank.If it is another Sanusi reform,then that man is biting more than he can chew, and i believe the one that will send him back to his village soonest is the so -called Islamic banking,which in my own estimation is a ploy to rope in Nigeria and Nigerians into Islam.Sanusi is smart and i strongly believe he is being used by some marfias to Islamize nigeria.The earlier the guy is removed the better for all of us, rubbish endless banking reforms.Infact all this he is doing is political diversionary strategy as though banks and banking is the only problem in nigeria,
Uba get set to loose 70% of your current customers if you fail to reconsider your opinion about the 25k unrealistic minimum balance.

So they are not satisfied with pilfering customers account. I desrted my account because of this illegal withdrawal from my account. This new policy ll drive a nail into their coffin

My fellow Naija men and women, My fear is that this may go round to the other banks, I don't think this is an isolated decision by UBA, It may be all the banks , UBA may only be spearheading this.
What a world, Nigeria is being impoverished every passing day.

I received the message informing me about this today. I never liked the bank for a thing, but I needed to have an account with them to be able to receive some money from a company.

I could remember the first withdrawal I made with them some months back. Before I could withdraw, I was made to sign over and over again to get close to my submitted signature despite having my picture right there on their system; that never happened since 3-4 years I've been using GTB. I practise with 6 to 10 slips every time since then whenever I want to make a withdrawal; I've been there about two times since.

It's only a matter of time before I get going.

Sanusi i must confess is a big idiot.What happens to the masses?Damn is he really okay?Hope no be say he dey take codeine,

This is the only country in the world where the central bank will go about issuing orders regarding account opening balance for account holders in banks without taken cognizance of the fact that their standered of living had not improved significantly in recent years?Our policies had always been for the rich and not for the poor-but the future of this country Nigeria is hinged on how you treat the poor and not the rich?

I am surprised at most responses i read on this thread. Is it that people read upside down or they dont take time to read & digest b4 responding to issues? The bank has the largest customer base & want to give them world class service, that is why its migrating those that cannot afford N25,000 min bal to e-channel. With their U-mo u can do most of ur transaction at the comfort of ur house without going to bank or even use atm. Those that can afford n25k min bal will be given world class service whenever they enter their banking hall. For those of u dat has been crying out loud dat many people will close their a/c, yes 4 those who are not well informed. Check out how many people are opening a/c on a daily basis with this new n25k min bal, u'll be amazed. Salary earners & pensioners are not affected at all, they can still withdraw to the last kobo.

i have withdrew all my balance in uba, I dont think they taught of the low income earners among there cutomers

I really don't get what all the fuss is about. The banking industry is a perfectly competitive market, at least from the customers' point of view and the customers have a myraid of options as to what bank to transact with. If UBA chooses a corporate strategy that increases miminimum deposit to whatever amount, so be it. And If it sinks them, so be it. If you can't comply with their requirements, move to First bank. Most likely, the accounts that can't maintain the 25K minimum balance are not what keeps the bank alive anyway.

What I see here are just shallow, unobjective analyses and resistance to change, which is expected considering UBA's business model over the years.  If you incorporate your own bank, you can even deposit money into your customers' accounts to please them. Must we always bring sentiments into everything? By the way, UBA exempted salary accounts, which flaws the revolt based on the minimum wage factor.

If UBA is not violating any law or regulatory provision, then let them be and watch what they make of their business. But castigating the bank based on the poor-masses sentiment is at least unfair. The bank is neither the government nor an NGO.

The sad fact is that most people drawing swords at UBA's head would (if not already) implement worse decisions than UBA is now.

For those insinuating the bank's demise; if the bank doesn't die, u may go kill it. Selah!!!!!!