FREQUENTLY ASKED QUESTIONS BY CUSTOMERS
Q1) How do I send money urgently to
someone in any part of the country?
A1) You instruct your branch manager to
debit your account and credit the account of the beneficiary or pay in
cash if you are not a customer of the Bank and give the same
Q2) Do I need to be an
account holder to purchase a bank draft?
A2) No, you don't need to be an account
Q3) Is it possible to withdraw or pay money
in Port Harcourt branch of the bank when my account is at Lagos?
A3) Yes, it is possible. With our current IT
facility, all our branches have been networked, operating
Q4) How do I carry cash around
A4) Union Bank ValuCard is the answer. As
much as N 16million can be loaded in a card. Enter any of the branches
and present your card to the tellers for any amount you want loaded
into the Union Bank Valu Card.
Q5) Do I need to enter the
branch or be at the counter to cash my money?
A5) You can buy Union Bank Easy Cash Card, this
gives you the opportunity to conveniently have access to cash always
by using the Automated Teller Machines (ATM) designated outside the
branches. It is a Self-Service Banking Solution at your own time in
all our selected branches nationwide. The ATM will pay you clean,
crisp cash notes at every withdrawal.
Q6) How do I pay the school
fees of my child studying abroad?
A6) Take your child's admission letter, the
school bill and other documents.
the mode of payment you want, for example - Telegraphic Transfer or
Draft and our branches will handle the rest.
Q7) My child is
residing abroad and intends to send money to me in Nigeria. How does
he do that?
A7) Your child could contact any of the
Travelex Money Transfer outlets in any part of the world and intimate
the company that he/she wants to send money to you in Nigeria
through Union Bank of Nigeria Plc.
child could also utilize the services of Vigo, MoneyGram, Money Exchange or Ria
Express services overseas to transfer money to you in Nigeria.
Q8) How do I receive
this money transferred to me from overseas?
A8) Visit any of our branches to collect
your money with something to identify yourself, for example Identity
Card, Nigerian Passport or Driving Licence.
inform your child to disclose certain information he used in remitting
the funds, for
instance the security number, the exact name of the beneficiary,
amount, branch of choice if specified, country sent from,
city/country, telephone, etc.
Q9) How do I open a
personal, company or club/society account and what are the
A9) Fill a form on this website (Open An
Account), then visit any Union Bank branch of your choice for
any further information.
Q10) How do I manage the cash
proceeds from my various sales outlets all over the country and ensure
that all such proceeds reach my main account.
A10) The Bank provides Cash Management Service. Your
main account holding branch directs the branches to transfer all your
proceeds to the branch on daily, weekly, or monthly basis depending on
Q11) How do I solve the problem of late receipt or
non-receipt of dividend warrants?
A11) Give a mandate by informing the company's registrar
to pay dividend directly into your bank account with Union Bank.
Q12) What are the preconditions for obtaining
A12) You must be a good customer of the Bank, then,
write a proposal letter indicating the purpose of the loan.
the amount of loan required, repayment mode and the repayment period.
the loan with the necessary security; this could be in form of - Lien
on Cash, Stocks & Shares, Insurance Policy, Real Estates, and
Debenture (for a company that will attach assets).
Q13) What qualifies as a good collateral for the
A13) The security must be solid, tangible and adequately
customer must provide the bank with the necessary documents that will
facilitate perfection of the securities by the Bank before drawing
down on the facility.
Q14) How do I inherit the bank
accounts and other valuables of my late father under the bank's
A14) Probate of the deceased's will or Letter of
Q15) How do I start export of cashew
A15) You must be a registered member with the Nigerian
Export Promotion Council
must be able to source the commodity to meet the required order and
international standard, and there must be a market for the product.
further details, approach your branch manager on the required
documentations and modes of payment / settlement.
Q16) Who qualifies for the Small & Medium
Industries Equity Investment Scheme?
must be registered as a limited liability company in Nigeria
with all applicable tax laws and regulations,
must be an enterprise with a maximum asset base of N200 million,
excluding land and working capital.
the number of staff employed by it not less than 10 and not more 300
shall be provided by way of investment /purchase of Equity share in
of the company shall be diluted to the extent of the Bank's