UBA Introduces Foreign Currency Transfer on Online Banking Platform

The United Bank for Africa Plc (UBA) has announced the introduction of forex transfer capability on its online banking platform, U-Direct.

The new service allows the bank’s customers to transfer funds from their domiciliary account to any account in the world within 24 hours, according to the bank.

It explained in a statement that the commencement of this service could not have come at a better time, considering the anticipated flurry of remittance activities as the festive season sets in.
The bank’s Divisional Head of e-Banking, Dr. Yinka Adedeji said customers can now transfer money from U-Direct to any part of the world in record time.

With this development, he pointed out that there is no need to fill forms or visit the banking halls any more.
“This again underscores the importance we place on service innovation and customer fulfillment,” he said.
According to the bank, to access the service, customers need to have a domiciliary account with UBA.
“Beyond forex transfer, U-Direct also enables customers to conduct their banking transactions on their personal computers, laptops or tablets,” the bank stated.

The UBA Group is a highly diversified financial services provider, one of the largest financial institutions in Africa, with business offices in New York and Paris and a subsidiary in London. The bank controls significant market share in 19 different African countries.
“The Group has a strong retail penetration across the African continent with more than seven million customers who enjoy a bouquet of products and services tailored to meet their different financial needs, backed by cutting edge technology that offers secure and convenient e-banking services,” it added.