In a bid to promote diaspora remittances into the country, Access Bank has restated its commitment to pay customers who receive diaspora remittances with N5 on every $1.
A statement from the bank stated that the N5 for every dollar cashback would be paid to Access Bank customers irrespective of their preference to receive funds as US dollars cash pick-up over the counter or direct transfer into their domiciliary accounts.
The reward scheme is in line with the Central Bank of Nigeria’s “Naira 4 Dollar Scheme,” aimed at encouraging inflow of diaspora remittances into the country and the scheme will run from Monday, March 8 to Saturday, 8 May 2021.
Commenting on the initiative, Executive Director Retail Banking, Access Bank Plc, Mr. Victor Etuokwu, stated:
“Remittance Services are a key aspect of our economy and it is still vibrant and viable today because people still take care of family members, loved ones, and friends and invest at home even as they live abroad.
“As part of our promise to create value and meet the needs of our customers, we are happy to announce that our customers can now receive the N5 for every $1 incentive, at any of our branches nationwide, when their loved ones or associates send funds from the diaspora.”
He added: “The bank’s promise to deliver more than banking services is even more relevant at this time as customers are looking for convenient products and services to facilitate their lifestyle needs.
“As a pioneer in international transfer services, we still maintain a strong relationship with our remittance partners: Western Union, MoneyGram, Ria, WorldRemit, Transfast, Paysend, Shift, Sendwave and other international money transfer services and we are committed to delivering excellent service to all our customers.
“Our remittance services are available to both customers and non-customers of Access bank” Victor concluded.