Diaspora Remittances: Access Bank to pay customers N5 for every $1 received

Diaspora Remittances: Access Bank to pay customers N5 for every $1 received

In a bid to promote diaspora remittances into the country, Access Bank Plc, Nigeria’s leading financial institution will be rewarding customers with N5 on every $1 received from their loved ones or associates abroad through foreign remittances.

The N5 for every dollar cashback will be paid to Access Bank customers irrespective of their preference to receive funds as US dollars cash pick-up over the counter or direct transfer into their domiciliary accounts.

The reward scheme is in line with the Central Bank of Nigeria’s “Naira 4 Dollar scheme” aimed at encouraging inflow of diaspora remittances into the country and the scheme will run from Monday, March 8 to Saturday, 8 May 2021.

Speaking on the initiative, Victor Etuokwu, Executive Director Retail Banking, Access Bank Plc, said: “Remittance Services are a key aspect of our economy and it is still vibrant and viable today because people still take care of family members, loved ones, friends and invest at home even as they live abroad.

“As part of our promise to create value and meet the needs of our customers, we are happy to announce that our customers can now receive the N5 for every $1 incentive, at any of our branches nationwide, when their loved ones or associates send funds from the diaspora.

“The Bank’s promise to deliver “More than Banking” services is even more relevant at this time as customers are looking for convenient products and services to facilitate their lifestyle needs. As a pioneer in international transfer services, we still maintain a strong relationship with our remittance partners: Western Union, MoneyGram, Ria, WorldRemit, Transfast, Paysend, Shift, Sendwave and other international money transfer services and we are committed to delivering excellent service to all our customers. Our remittance services are available to both customers and non-customers of Access bank,” Victor concluded.

Access Bank, over the years, has leveraged technology including advanced analytics, cloud computing, artificial intelligence, machine learning and robotics process automation to reform business operations and drive performance to improve customer experience.