Access Bank has commenced the 14th season of its DiamondXtra promo as part of its continuous drive to encourage savings culture and reward its loyal customers.
The bank in a briefing to announce the commencement said the promo will reward over 62,000 customers and would feature its reoccurring salary for life, Business Grant, Free Rent, education grant and different cash prize categories from its monthly and quarterly draw. And there will also be Digital marketing classes for 10,000 DiamondXtra customers.
The bank added that over 24,000 customers have been rewarded with more than N6bn and there are regulators in place who monitor the draws to ensure transparency.
Senior Banking Advisor, Retail, Mr. Robert Giles said: “From the very beginning, DiamondXtra was designed by our customers themselves. They told us that the return on savings was small, yet the reason to save was to transform and improve lives. Since that initial launch we have shared over Six Billion Naira of prize money through daily, weekly, monthly and quarterly draws. We have given out education grants, business grants and Salary for life.
“Our customers said we should not touch Salary for life, so we are keeping it. Education Grant and Business Grant has also return. We will be providing training for 10,000 customers, it is assume those customers trained would in return train other. Welcome to Season 13.”
Also speaking at the launch, the Group Head, Consumer banking, Adaeze Umeh said, first the bank has gone out to get feedback from its customers, Educational Support is been brought back this season because of the feedback we have gotten. We have to do thing different because the bank is open to adjustment. “We will be training 14,000 customer of digital marketing. We also be having regional draws to bring the draws closer to the people. 359 winner are expected to emerge while 28 winner will have the chance to win the Business Grant.”
Access Bank agency banking ‘Access Closa ’ recently hit a milestone of having 100,000 agents currently spread across Nigeria as the bank further plans to increase its footprint by having a minimum of 50 agents in each of the 774 LGAs across the country.
Group Head, Agency Banking, Access Bank Plc, Chizoba Iheme, in a chat with journalists noted that due to the limited number of financial institutions, especially in rural areas, Access Closa is Access Bank’s strongest retail channel used in providing banking services to a large population of unserved and underserved Nigerians.
She said: “Our plan is to bank one in two Nigerians as this will see us increase our customer base and deepen our wallet share of the banking population.”
“Going by the high youth and adult population, the resources of Nigeria’s financial institutions are being overstretched in providing physical and human resources and were unable to cope with gaps that existed in meeting banking needs of Nigerians hence the need for Agency Banking as envisaged by the Central Bank of Nigeria (CBN) in 2013.”
“Therefore, Agency Banking helps financial institutions decongest crowded branches by providing a matching and more often convenient channel for their customers. In instances where reaching customers in rural areas is often highly expensive for financial institutions because transaction numbers and volumes do not cover the cost of a branch, agency banking helps in serving them.”
Furthermore, she added that becoming an agent has become a means to empower and reduce unemployment in Nigeria.
“Our commission structure allows an agent to earn up to N500,000 and more monthly in commission including incentives and opportunities for agents to grow their business and partner with a reputable brand is an attraction to the Closa brand.”
Furthermore on risks associated with agency banking in the country and how Access Banks moves to mitigate it, she added: “There are four major risks that we have identified. These are Technological, Legal, Fraud/Reputational. Assets.
“Technological Risk, to prevent software and hardware failures, the bank is investing in new infrastructure with capacity to absorb service disruptions that will have minimal impact. As part of our onboarding process, the bank’s agents are required to execute a service agreement that stipulate the roles and responsibilities of each party.
“Also, agents are trained at the point of activation on Anti-Money Laundering (AML) and Terrorism Financing. This training also takes place every year to reiterate the dangers and consequences associated with fraudulent actions. Besides, the bank has set maximum daily limit on the amount and frequency of transactions that can be performed by an agent. Lastly, a quarterly risk profiling exercise is carried out on all agents for effective management,” Iheme added.
A past winner, Mrs Ajayi Temitope, said she was elated when she won N1 million in Season 13 and that the prize came at the time she was struggling business wise and that the money has really boosted her business.
“On this faithful day, I receive a call from a man who said I have won 1 million naira, I was initially scared said to myself this scammer has gone far. After frequent calls from the same number, I called Customer Care and told them about the calls I game them the number that has been calling me. Again, after some days another lady called me and advice I should visit Instagram to check Access bank page. I did exactly as the lady advice and saw my name, that was when I believe it was true. Thank you to Access bank.”
DiamondXtra is an interest yielding hybrid account, which allows deposits of both cash and third-party cheques. Hybrid means a combination of both savings and current account features.
The reward scheme which was launched in 2008 and has been running every year since inception, has rewarded millions of customers and over N6Billion has been given away in cash and gift items in the past 13 years.
All you need to do to qualify for the draw is to open a DiamondXtra account and fund up to N5,000. For every N5,000 you save, you get a ticket into the mega draw and increase your chances of becoming a millionaire in the DiamondXtra mega draw.
To be one of the winning customers in the cluster, monthly and quarterly draws, please visit any Access bank close to you to open an a DiamondXtra account or dail *901*5# Please click HERE to learn more.
