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FirstBank committed to financial inclusion through First Current Plus

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COMFORT EKELEME, Business Editor


Customer experience is globally considered to be a key to the growth and success not only of the financial services industry, but across all industries. In today’s technology-driven world, there is no shortage of opportunities for banks and credit unions to innovate and improve the customer experience with different products aimed at delivering quality service, while banks must develop a steady stream of new products and services.


A recent study from the Raddon Research Institute shows that financially literate customers are more profitable because “they are credit-driven and have a higher usage of depository products.


As a premier bank in West Africa and one of the leading financial services solution providers, First Bank of Nigeria Limited has consistently broken new ground in the financial sector. This industry watcher maintained is among the reasons why the Bank is leading in innovations in the sector.


One such is FirstBank’s revamped First Current Plus (FCP) product targeted but not limited to traders, salary earners, high net worth individuals, upwardly, mobile Professionals, and customers in the diaspora.


First Current Plus is a simple current account that offers users all they need to manage their funds and day-to-day transactions without account maintenance charges, giving the opportunity to bank hassle-free.


According to the bank, this product was designed to meet the needs of high net-worth Individuals, affluent as well as upcoming individuals, with a minimum opening/operating balance of N50,000 for individual customers.


This product, which has enjoyed huge patronage over the years has been further enhanced, by reviewing the minimum balance from N500,000 to N50,000 for individuals. This review is geared toward extending the product’s benefit to an expanded number of individuals with the bracket of its target customers.


Interestingly, this product offers a free initial cheque book, zero-AMC as a unique value proposition to the market and customers enjoy 10 free withdrawals a month, access to a premium card with unique privileges.


Others features for FCP include the use of different alternative channels such as Automated Teller Machine (ATM), Point of Sale (POS) terminals and Online/Internet Banking.


In addition, customers have access to SMS alerts on the account (at a prevailing fee). Free online and mobile banking activation, USSD quick banking service for individuals, as well as debit card issuance.


The minimum opening balance for FCP is N50,000 and the minimum operating balance is N50,000.


Stating several withdrawal Limits, FirstBank said 10 free withdrawals above which an AMC at N1/mile is charged on the excess, while maximum withdrawal on ATM – N150,000, POS – N500,000, and WEB – 1,000,000. However, the excess over the withdrawal limit (10) attracts AMC at N1/mille and this applies to total debits on the account for that month.


FirstBank remains committed to rendering the gold standard of services to customers and stakeholders regardless of where they may be across the globe.


Through the last 128 years of its operations, FirstBank has played a leading role in utilizing its robust customer service network and digital banking architecture to support its customers, cutting across diverse cultures, tribes, and races beyond the shores of Nigeria, in meeting their individual and business needs.


With over 750 business locations and over 189,000 Banking Agents spread across 99per cent of the 774 Local Government Areas in Nigeria, FirstBank provides a comprehensive range of retail and corporate financial services to serve its over 30 million customers.


The Bank has an international presence through its subsidiaries, FBNBank (UK) Limited in London and Paris, FBNBank in the Republic of Congo, Ghana, The Gambia, Guinea, Sierra-Leone, and Senegal, as well as a Representative Office in Beijing.


FirstBank’s cashless transaction drive extends to having more than 12 million people on its USSD Quick Banking service through the nationally renowned *894# Banking code and over 4.5 million people on the FirstMobile platform.



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