Business
Access Bank Debit Card Holders To Enjoy Credit Line
By Emmanuel Aziken
In a radical step to satisfy the needs of its customers on lockdown, Access Bank is offering certain categories of customers the opportunity to use their debit cards as credit cards.
The service termed as a Dual Transaction Service (DTS), according to the bank is the first of such product on the continent.
Mr. Victor Etuokwu, the bank’s Executive Director, Retail Banking, in a statement on Thursday said the product was the bank’s offer to keep customers safe in the light of global concerns on social distancing.
However, only customers on a salary and pre-approved would be considered for the product.
He said:
“This is the first time any bank in Nigeria will be providing this kind of
combined essential service to its customers.
“We have been encouraging our customers to stay safe and connected by going cashless while using our various digital channels.
Customers can also access three times the value of their salary during this period of restricted movement.
“We know these are trying times and our customers may need an extra boost during this period. So rather than have them go through the rigorous process of applying for a credit card, we will give them access to more funds using their existing debit cards,” he said.
Etuokwu explained that the service was available to all Access bank customers who earn from N20,000 and above.
“Customers can also access three times the value of their salary during this period of restricted movement.
“This is a remarkable feat and we will continue to promote digital transactions and discourage branch banking until we are completely come out of the pandemic times,’’ Etuokwu added.
According to him, to activate this service, all our customers need to do is dial *901*14# from the comfort of their homes, choose credit as account type on any POS or ATM terminal during any transaction to access the credit line through their debit card.
“The dual card service from Access bank Plc is the first-of-its-kind on the continent.
“The features of the dual transaction service represents another milestone in our mission to transform banking and demonstrates how far we have come in such a short time” he said.
Etuokwu noted that the bank recently donated N1 billion as part of its contribution to fight coronavirus in Nigeria.
He said the bank had also reached out to its customers via several communications to go cashless by using the Access Bank electronic and digital platforms during this period of the pandemic to remain safe.
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