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UBA Announces “UBA Connect” To Ease Cross Border Payments For Members Of AfCFTA

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United Bank Of Africa has officially announced their service “UBA Connect” to help ease cross-border payments and settlements for members of the Africa Continental Free Trade Area (AfCFTA).

The service is targeted at account holders of the bank and walk-in customers. It allows UBA customers to have instant access to their funds at any branch within the UBA network in Africa. Customers can withdraw cash from their accounts and also undertake funding. Deposits can be done by third-party customers.

“UBA Ghana is driving innovation in retail banking to ensure seamless transaction across Africa countries. The UBA Connect Service allows for instant transmission of data and significantly fast processing with transactions being consummated and source account impacted within minutes,” Head of Retail Bank, Peter Dery said.

Mr. Dery added that the UBA Connect Service is non-restrictive, hence accounts can be operated from any UBA office in Africa outside the customer’s home country of account domiciliation, urging all businessmen, entrepreneurs, and travelers to take advantage of the product.

He added that transaction currency shall be in Ghana Cedis while transaction limit shall not exceed a US $10,000 (cedi equivalent) per day for withdrawals and US$10,000 annually for deposits.

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