FAQ

Accounts

  • Why do I need a current account?

    You can transact on the go.
    Enjoy zero maintenance fee if you maintain a daily balance of N50,000
    Unlimited transactions.
    Allows cheque withdrawals & lodgements.

    Types of current accounts

    1. Individual
    2. Business

    Currencies Available Available : NGN (Naira) , USD, GBP and EURO

     

    How can I transact?

    1. Mobile/Online transfers
    2. In-branch or via ATM

    Foreign Currency Transactions

    • Swift charge of 22USD, 15GBP & 18EUR for FX transfers
    • Transfer charge of 0.5% on amounts transferred
    • Withdrawal charge of 0.05%
    • You can transfer only $10,000 weekly (or its equivalent in pounds or euros).

     

alpher

  • How is the αlpher proposition different?

    At αlpher, we know and understand that women are multi-faceted and have interests that cut across different areas. We want to create solutions that fit every area of her life.

  • How can I join αlpher?

    Open an account with Union Bank of Nigeria, and you automatically get invited to the community.

  • What are the benefits of being an αlpher woman?

    To our vibrant community of women, αlpher offers a variety of benefits ranging from access to professional and personal development, business support services and invaluable networking opportunities.

    We also offer quick cashflow loans at competitive rates, discounted healthcare plans and amazing lifestyle benefits.

  • Why αlpher?

    Women, through their entrepreneurship and enterprise, make a substantial contribution to the economy and society. In spite of their contributions, they face huge obstacles and challenges that severely limit their potential. At Union Bank, we want to be the support and enabler that will help women actualise their highest potential because we know that when women do well, we all do well.

  • What is αlpher?

    αlpher is Union Bank’s proposition aimed at enabling success for the Nigerian woman. αlpher is for women from all walks of life.

Form Q

  • What are the various processes from filling the form up to transaction consummation?

    A prospective Importer goes to the Federal Inland Revenue Service (FIRS) to register his/her Tax Identification Number (TIN) (i.e. Peculiar Number given to individual Tax Payer). The TIN is registered by the FIRS and on the SINGLE WINDOW PORTAL [(i.e. Website used in processing Form M and Pre-Arrival Assessment Report (PAAR)]
    The Documents required for Form M processing are:

    • Filled and Endorsed E-Form M Submission Form.
    • Pro Forma Invoice (which has a validity period of 90days)
    • Insurance Certificate (which must be typed and it must be 110% of C&F value)
    • An Endorsed SONCAP PERMIT/Product Certificate for Standard Organization of Nigeria (SON) regulated Products.
    • National Agency for Food and Drugs Administration and Control (NAFDAC) Permit for food, drugs and chemicals.
    • Department of Petroleum Resources (DPR) Permit for Oil and Gas Products.
    • Power holding Company of Nigeria (PHCN) Permit for Importation of Electricity Generators.
    • FISHERIES PERMIT for Fish Importation

    IMPORTANT FACTS:

    • Note that Form M charge is N8,150 (BANK 3000 + 5000CBN + 150VAT)
    • Note that PAAR charge is N2, 625 (BANK2500 + 125VAT)
    • Note that Form M Extension Charge is N5, 250
    • Handwritten Insurance Certificates are not acceptable for Form M processing.
    • Insurance Value must be 110% of CFR Value.
    • SONCAP PERMIT/PRODUCT CERTIFICATE must be endorsed by the Authorized SON Officials.
    • Forms M/ BA Numbers are generated after Form M has been submitted to the Nigerian Customs for Approval via the SINGLE WINDOW FOR TRADE Platform.
    • Item of Import that is inspectable are preceded by “BA” non-Inspect able Import items are preceded by “CB”
    • Customers get an alert immediately the Form M has been Submitted and Approved respectively.
    • Importer sends the Form M and BA NUMBER to the beneficiary abroad to Inspect able items of Import.
    • Beneficiary sends the shipping documents for Pre-Arrival Assessment Report (PAAR)
    • The Shipping Documents include: Bill of lading, Commercial/Final Invoice, CCVO, Packing
      List, Certificate of Analysis, and manufacturer’s Certificate of Production.
    • After the shipping has been processed via Single Window Platform for PAAR applications, the NCS issues the Pre-Arrival Assessment Report.
    • Exchange Control Document is submitted to the Bank after Goods as been cleared.
    • Amendment of Approved Form M on the Single Window Portal is not possible.
  • How does a customer that wants to pay for a software licensing go about it?

    The customer must provide the following documents:

    • A) License Agreement.
    • B) Demand Note/Invoice
  • For Groupage that carries the shipper information. Are they to use the shipper’s information to open the Form M? This is because one container may carry six people’s goods cleared by one person who may probably be cleared by clearing companies not particular to one person. How do we address form M in such instances?

    It is advisable for the customer to open Form M directly to a beneficiary who can arrange the shipment. However, the shipper on the groupage may agree with the customer to open the form M in his name based on their contractual agreement. In that case the shipper will ensure he provides shipping documents to the respective parties.

  • Does one Form M suffice for multiple TT transfers until full payment is made?

    This is possible if the form M is opened to one beneficiary for the importation of a specific item for a specific amount. The payment can be made in tranches to the same beneficiary until the value of the form M is fully paid.

  • In the cases where we deal with middle men, different goods are assembled as one container. How do they raise form M in such cases?

    The form M will have to be opened either directly to the middleman depending on the level of agreement between both parties or the customer identifies a beneficiary who will consolidate all the purchases from different manufacturers and ship them together.

  • How do we open a form M when its groupage?

    The form M still needs to be opened for one beneficiary who can then arrange how the goods will be shipped.

  • What are the charges on Letter of Credit to import Tractors and can we transfer in EUROs?
  • For credits, up to 180 days: 1% of the face value
  • For credits, up to 270 days: 1.25% of the face value
  • For credits, up to 360 days (these charges are on
  • The period of validity of the credit): 1.5% of the face value
  • We can transfer Euros if the invoice is in EUROs.

  • Is the Bank expected to process Form M for the customer or does the customer process and forward documents to bank for PAAR?

    The customer is expected to open form M through the CBN e-form M single window. However, any customer that will like the bank to process same on their behalf will provide the bank with the following details.

    • a). Tax Identification Number (TIN) which would have been activated by FIRS
    • b) Proforma Invoice (PFI)
    • c) Insurance
    • d) Regulatory permits e.g SONCAP, NAFDAC, DPR as applicable
  • Do we have to open Form M to do Form Q for our customers?

    Yes. All wire transfers (Domiciliary Transfers & Form Q) for purchase of goods will be supported by Form Ms. going forward. The form M must be Valid for forex since FX is sourced officially.

  • Do we have to open Form M to do Telegraphic Transfer (TT)?

    Yes. All wire transfers (Domiciliary Transfers & Form Q) for purchase of goods will be supported by Form Ms. going forward. In the case of transfer for purchase or importation of an item categorized as Non-valid for forex by CBN (42 items), CBN approval will be an additional documentation with the Non-Valid Form M.

  • General

    • What if I have another question?

      Call our contact centre on 01 2716816 or 07007007000. You can also send a mail to [email protected] We look forward to serving you.

    • Can I print my Statement of account?

      Yes. You can print your statement of account by clicking on ‘Export to Excel’ or ‘Export to PDF’ button. This downloads your statement of account in excel or PDF format which you can save or print.

    • How do I get my login details?

      When the completed enrolment form is processed, an automated message containing your initial/default login password (without the username which is known to you already) is sent to your registered mobile number. You will be asked to change the initial login password when you log in for the first time.You choose your own login name during registration.

    • Can I use the App while I am away from Lagos or while I’m abroad?

      YES, the App can be used wherever there is data connection. Please note that your network provider may charge you for fees associated with roaming while abroad.

    • What If I forget my PIN?

      Visit the nearest branch to get a new PIN.

    • What happens if I forget my password?

      Simply click on “forgot password” on the log in page. An e-mail will be sent to your registered e-mail address.

    • Why do I need to set up a new password?

      The login process for UnionMobile has been created to protect you from fraudulent activities. The password is necessary to avoid unauthorised access.

    • How do I change my PIN?

      After successfully logging into UnionMobile with your password,
      Click on the icon at the top left corner of the application page
      Click on Security
      Click on Change PIN
      Enter the old PIN (e.g. current PIN) and the New PIN
      Confirm new PIN, select the correct account type and click on subm

    • How do I get my PIN?

      For an existing user, it prompts you to continue with your previous PIN.
      For a new user using a java phone e.g. Blackberry bold/curve series and Nokia Asha series, it prompts you to send a short code (e.g. PM**********) as an SMS to 20220, you will receive a default PIN which you most change to complete activation.
      For a new user using, Android, Windows, iPhone and Blackberry (OS 10.0 and above), you will be prompted to create a 4 digit PIN during the registration process

    • What are the acceptable means of Identification?
      • International Passport;
      • Driver’s License;
      • National Id. Card;
      • INEC Registration Card or
      • Bank Verification Number (BVN)
      • Union Bank Staff ID (for staff)
    • Can a foreigner access these services, on the provision of a valid International Passport and evidence of legal entry into Nigeria?

      Yes, a foreigner can send or receive money on these platforms upon the presentation of valid International Passport and evidence of legal entry into Nigeria.

    • Can corporate organizations use this outbound service for paying subscriptions and fees abroad?

      No, outbound transactions are available to individual customers only.

    • Who is this service available to?

    Transactions

    • Domiciliary Account Details
      USD TRANSFER TO DOMICILIARY OR NAIRA ACCOUNT
      INTERMEDIARY BANK: CITIBANK NEW YORK
      SWIFT CITIUS33
      ROUTING/ABA NUMBER 021000089
      BENEFICIARY BANK UNION BANK OF NIG PLC
      SWIFT UBNINGLA
      OUR AC NO WITH CITIBANK 36058132
      BENEFICIARY NAME: YOUR ACCOUNT NAME
      BENEFICIARY ACCOUNT NO: YOUR ACCOUNT NO.
       
      GBP TRANSFER TO DOMICILIARY
      INTERMEDIARY BANK: CITIBANK LONDON
      SWIFT CITIGB2L
      BENEFICIARY BANK UNION BANK OF NIG PLC
      SWIFT UBNINGLA
      CURRENT A/C 19249621
      BENEFICIARY NAME: YOUR ACCOUNT NAME
      BENEFICIARY ACCOUNT NO: YOUR ACCOUNT NO.
      EUR TRANSFER TO DOMICILIARY OR NAIRA ACCOUNT
      INTERMEDIARY BANK: COMMERZ BANK FRANKFURT
      SWIFT COBADEFF
      BENEFICIARY BANK UNION BANK OF NIG PLC
      SWIFT UBNINGLA
      OUR AC NO WITH COMMERZ BANK 400880111000EUR
      BENEFICIARY NAME: YOUR ACCOUNT NAME
      BENEFICIARY ACCOUNT NO: YOUR ACCOUNT NO.
      INTERMEDIARY BANK: CITIBANK LONDON
      SWIFT CITIGB2L
      BENEFICIARY BANK UNION BANK OF NIG PLC
      SWIFT UBNINGLA
      CURRENT A/C 19249605
      BENEFICIARY NAME: YOUR ACCOUNT NAME
      BENEFICIARY ACCOUNT NO: YOUR ACCOUNT NO.

    • How often can I transfer funds?

      Funds can be transferred as frequent as possible until the daily limit is exhausted.

    • Can I schedule future transfers?

      Yes, you can schedule future transfers through the standing order menu.

    • How do I get my token during a transaction?

      Visit any of our branches to request for your token

    • What types of transactions can I perform on UnionOnline?

      Check your balance

      • Generation your bank statements

      • Perform own bank and third-party transfers

      • Perform international transfers

      • Review your transaction history

      • Pay your bills

      • Schedule standing orders

    • What are the requirements for sending a transfer?
      • Sender’s full name
      • Receiver’s full name
      • Test Question and
      • Valid non-expired government issued photo ID
      • Send Amount
      • A duly completed ‘send form’
      • Transfer Amount plus fee
    • Can a Teller process a remittance transaction?

      Yes, Tellers can process Remittance transactions.

    • Who determines the exchange rate and charges on transfers?

      The exchange rate and transaction charge are determined by the Money Transfer Organization and not the Bank.

    • What are the charges on outbound transfers?
    • What is the turnaround time for Remittance transaction processing?
    • What is the transaction limit per customer for Western Union and MoneyGram transfers?
    • In what currency are outbound transactions processed?
    • What is the Outbound Money Transfer service?
    • Are the three money transfer services available in a select number of branches?

      No, the 3 services are available at all Union Bank branches

    • Which Remittance Products are offered by Union Bank?

      MoneyGram, Western Union & Sigue

    Union Mobile

    • Can I still use the UnionMobile App if I change my mobile device?

      Yes, you can. All you need to do is download the App from the store of the new mobile device, reinstall the App and register as a new user. While registering as a new user on the new device, you may change your password but this will not affect your PIN.

    • Can I use the UnionMobile App for Corporate accounts?

      No, UnionMobile is for your current and savings accounts only; if you would like to manage your corporate account on the go, please go to the Union Bank website to download the online banking (UnionOnline) enrolment form, send the duly filled and signed form to [email protected] for processing. You can also visit the nearest Union Bank branch to register for UnionOnline.

    • What is the transfer limit on my UnionMobile?

      The default transfer limit is N5, 000. To increase your limit visit a branch or call the contact centre on 0700 700 7000 or 012716816.

    • Can I use more than one account on my UnionMobile?

      Yes! You can
      Click on Banking Services
      Click on Account Management
      Click on Add Account
      Enter the secondary account number, account type and click submit
      You will then have to visit a branch to activate the secondary account details before use.

    • What will I do after I have successfully downloaded UnionMobile?

      Open the UnionMobile app, enter the necessary details in the required fields and click on “continue”
      You will receive a pop up message for a successful registration on UnionMobile.

    • How much will I pay to download or run the UnionMobile App on my phone?
    • How do I download UnionMobile?

      For Blackberry, Android, Windows and iPhone, search for UnionMobile in Blackberry World, Google Play Store, Window Store and Apple App Store respectively.
      For java phones such as Blackberry bold/curve series and Nokia Asha series, send an SMS with the word “D UNION” to 20220
      For feature phones, dial *389*032# and follow the prompt.

    Union Online

    • What is the daily transfer limit for UnionOnline?

      Daily transfer limit is N250, 000. However, you can request for a limit increase but you will have to complete an indemnity form for this request to be granted.

    • When can I use UnionOnline?

      UnionOnline is available and accessible 24 hours a day, 7 days a week!

    • Can I link a single token to all my accounts on the UnionOnline platform?

      Yes, a single token can be linked to all your accounts.

    • Can a token device work outside Nigeria?

      Yes, the token works anywhere in the world.

    • How do I get my token during a transaction?

      Visit any of our branches to request for your token

    • What is the cost of the Token?

      N1500.

    • What is a Token?

      A token could be a small physical device (hard token) or a mobile application (soft token) that enables you to authenticate your transactions on the UnionOnline platform. It also serves as another layer of security outside your password and security word. You can download the soft token from your app store by searching for UnionToken.

    • How safe is UnionOnline?

      UnionOnline is very secure. There are several level of security measures put in place to ensure that your banking transactions are done seamlessly. The security features include:
      • Unique username
      • Password
      • Security word
      • Token

    • What If I forget my UnionOnline password?

      • Visit the UnionOnline page.
      • Click on “forgot password”.
      • Enter username, account number and security word
      • Generate a new password with your token

    • How do I login to the UnionOnline platform?

      Visit the Union Bank website and click on internet banking at the top right corner of your screen to gain access to the page.

    • How do I register for UnionOnline?

      Below are the two ways to register for UnionOnline.
      1. Visit the Union Bank website, download and fill the UnionOnline enrolment form, email it to [email protected] for onward processing.
      2. Visit any Union Bank branch nearest to you and request for UnionOnline

    • What types of transactions can I perform on UnionOnline?

      Check your balance

      • Generation your bank statements

      • Perform own bank and third-party transfers

      • Perform international transfers

      • Review your transaction history

      • Pay your bills

      • Schedule standing orders

    COVID-19: We’re here to serve you. You can pay your bills, sort out transfers, check your balance, buy airtime and even request a loan on *826#, UnionMobile & UnionOnline. Click here for a list of our active sales and service locations, you can also book an appointment here. For assistance, chat with us on our website, or via WhatsApp 09070070001 or call us on 07007007000