UBA Internet Banking: Complete Step by Step Guide
What is UBA Internet Banking?
UBA Internet banking is a new method of banking that allows UBA customers to carry out their transactions electronically through the internet. This is a departure from the traditional method of banking whereby customers need to appear physically at the bank before they can carry out their financial transactions. But with UBA internet banking, customers can conveniently bank safely and securely from any geographical location via their computer, laptop, or mobile device.
How to Register for UBA Internet Banking
UBA customers can register for internet banking in three ways depending on the one that best suits them.
Instant Self Registration: This method allows UBA customers to start and finish registration with their debit card through the UBA Internet Banking login page https://ibank.ubagroup.com. To register, you will need to click on the Instant Self-Registration button on the page. Choose the retail option for an individual account. If you operate a corporate account, you should choose the Corporate option.
Basic information that you will need for UBA Internet Banking Self Registration (Retail) includes your account number, the first six digits of your UBA debit card, the last four digits of your UBA debit card, your UBA debit card PIN, and the expiry date of the card. The expiry date format is YYYY-MM. Referral ID is optional. For UBA Internet Banking Self Registration (Corporate), you need to supply the same pieces of information. But in addition to this, you will be asked to provide a Preferred Corporate ID. This process is seamless and can be completed within two minutes.
Enrolment Via Account Opening: If you are just opening a new bank account with UBA, there is an option you can tick so that you can be automatically enrolled into the online banking platform. This will be done simultaneously with the account opening process. Some customers are not aware of this. That is why they can’t use the internet banking option after the account has been opened.
Enrolment through UBA Business Offices: If you have already opened a bank account with UBA and you don’t have the internet banking feature enabled, you can still do it. All you need to do is to visit any of the UBA business offices to complete Internet Banking Enrolment Form.
UBA Internet Banking Enrolment for Corporate Customers
In case your account is a corporate account, you can instruct the bank to enroll a particular number of users. This will enable them to have access to the account. However, such instruction has to be on your company’s letterhead paper. You can add as many corporate users as you want. The internet banking system supports multilevel approvals. This means that you can define the number of approvals that are required for a transaction to be completed. The transaction will not be processed until it has been approved by the final approver. Any time there is a transaction that needs to be approved, mail notification will be sent to the verifier and the authorizer so that necessary approval can be made.
Features of UBA Internet Banking
Multiple Payments: Customers can save payment details of the people that have made payments to. With this, customers can make up to thirty payments per screen to those people whose details have been saved in their payment history.
Access to Payment Trails: Customers can easily view the payments they made over a specific period of time. This can help them in keeping records of their transactions. Unlike cash payment that one can easily forget a transaction. But with this internet banking feature, one can easily look back at the previous payments.
Recurring Transactions: There are recurring payments such as cable TV subscriptions and payment of fixed staff salaries. Instead of filling the same information in every month, customers save the recurring payments into a template. Such payments can be effortlessly completed subsequently just by clicking a button. No stress!
Pick Up Instruction: With internet banking, customers may not necessarily appear in the bank before certain things are done. From the online platform, customers can instruct the bank to release certain things such as funds, ATM Card, cheque books, etc to a third party. However, the third party may need to present a valid ID Card for identification.
Account Monitoring: You can monitor activities on your account just by logging into the internet banking platform. At times, someone may send money into your account and you are yet to receive an SMS alert. You can quickly login into your account to confirm such payment.
Purchase of Airtime: You can easily recharge your mobile phone or another person’s mobile phone through your internet banking account. So, it doesn’t matter whether it is late in the night when no one is out there to sell recharge cards or you are far away in a remote village where there is no banking facility, you will still be able to top up your mobile phone.
Transfer money: You can easily send money to your other account or another person’s account in UBA or other banks. Also, you can authorize a standing order whereby you instruct the bank to be making a specific payment on your behalf on a regular basis.
Pay Bills: I can still remember when no payment can be made any time the director of a company is not available in the office. With internet banking, bills can be paid any time and from anywhere. In fact, there are many executives who are in a foreign country and are operating their local bank accounts as if they are physically present. Internet banking allows customers to have access to their accounts 24/7 whether on weekends or public holidays.
Book Flights: The era when one needed to book flights through a travel agent has passed. Nowadays, customers can surf the internet from the comfort of their homes and search for cheap flights and then pay directly from their bank account.
Personalization: There are certain things you can do to suit you. For instance, you can customize your User ID, your nickname, or change your password. The system allows customization to a certain degree. Therefore, there are certain things you can customize to suit your liking. If you need more information about this, you may contact your account handler for clarification. However, you should know that you should not disclose your sensitive personal information to anyone.
Issuance of Receipt: One question you may want to ask is that what happens if a beneficiary denies the payment you made via online banking? Customers can print proof of transfers or payments they make through their account online. Also, the receipts can be downloaded and sent electronically to the beneficiary.
Statement Download: Customers can log in to their account to download their statements at any time. Statements can be downloaded in different formats such as Excel, PDF, and MT940 formats
Security: I mentioned earlier that there are certain security features put in place to protect customers’ accounts from phishing tactics and data harvesting. Access to the account is protected. You need a username and password to access your account. And each time there is any login or attempted login into your account, you will be notified via your registered phone number and/or email address. So, if anyone unauthorized person is trying to access your account, you can quickly be alerted so that appropriate steps can be taken on time.
Also, if the wrong password is inputted thrice, you will be locked out. You will need to click on forget password option. You will be asked to input your User ID. Thereafter, you will need to follow the prompts.
If you feel that your User ID is compromised, you can change it anytime. To change your User ID, you will need to log in to your account, click on My Profile, and then Security Settings, and then click on Update my User ID. To complete this process, you will need to authenticate with Secure pass/Token and then click submit
Requirements for UBA Online Banking
For you to operate a UBA Online Banking, the following are basic requirements:
Active Account: You must be a customer of UBA and the account you want to use for internet banking must be active. If you have an existing account and the account is already dormant, you will need to first re-activate the account before you can be enrolled for online banking.
Internet-Enabled Devices: This is very important. Just as the name signifies, you need internet-enabled devices such as computers, laptops, tablets, and mobile phones with active subscriptions before you can carry out transactions via internet banking.
Completed enrollment Form: If you are having a UBA bank account, it is not automatic that you will be enrolled in UBA Internet Banking. You need to complete the internet banking enrolment form. This can be via printed form or web form. If you have more than one bank accounts with UBA, you will specify the accounts you want to access via the internet banking platform. If you want to access to all the accounts over the internet, this can be achieved with one single user ID.
Executed Indemnity: This applies to higher transactions limits up to five million Naira for individuals and one hundred million for corporate users.
Please note that the following Terms and Conditions apply:
- Information provided on the enrollment form must match what we have in our records
- Daily limits for Individual – N200k (for SMS OTP), N1m (with Secure Pass without indemnity), and N5m (with Secure Pass & executed indemnity). N2.5m per transaction is allowed for individual users with indemnity.
- SMS OTP is only available to individual users (Corporate users can only use Secure Pass)
- Daily limits for Corporate – N10m (with Secure Pass without indemnity) and N100m (with Secure Pass & executed indemnity). N50m per transaction is allowed for Corporate users with indemnity
Foreign Currency Transfer
If you operate a domiciliary account and you want to make a foreign currency transfer, the following will be required:
- Information about the beneficiary: Such information includes the beneficiary’s name, account number and full contact address. Please note that P.O. Box is not acceptable.
- Reason for the transfer.
- Beneficiary’s bank details – bank name, address, swift code (IBAN no./chips, sort code, and bank number, if available).
- Your Hard Token/Secure Pass.
How to Make Foreign Currency Transfer from UBA Online Banking
- Visit the bank’s website ibank.ubagroup.com.
- Sign in to your account with your unique user ID and password.
- Select who bears the correspondent bank charge. The beneficiary’s bank normally charges a processing fee for the service rendered. This charge is not controlled by UBA. If you are the one to bear the charge, select ‘Sender to bear’. But if the beneficiary is the one to pay the charge, you should select ‘Beneficiary to bear’.
- Select Transfer Type: The system automatically selects “Swift Transfer”. However, you can choose to change this by selecting Draft.
- Choose the account to debit: Your Domiciliary Account(s) will automatically appear here. It is compulsory that your selected account matches the currency you wish to transfer. The system does not allow cross-currency transfer. However, this does not mean that the Beneficiary cannot receive the funds in other currencies. You can only transfer Dollars from Dollar accounts, Pounds from Pound accounts, and Euros from Euro accounts.
- Fill in Sender, Beneficiary, and Bank’s Details (and Intermed6iate Bank, if applicable.
- You need to indicate the purpose of the transfer clearly. You can’t use general terms such as personal, official, etc. You have to be very specific. For instance, you can write, payment for the purchase of a Toyota Camry.
- Ensure that all details are correct before you click Transfer. To continue you need to accept the Terms and Conditions. You can only proceed to the transaction authentication page if you click Agree. Clicking Disagree means that you want to abort the transfer process.
- Enter your Token code in the token field and click OK to authenticate the transaction. You will get a response “Successful: Transaction is sent for processing!” You will get a telex copy of the transaction (if successful but if not, transaction declined notification and reason for decline)
Advantages of UBA Internet Banking
Convenience: The fact that customers can carry out their transactions 24 hours a day all through the week makes internet banking to be convenient. Customers don’t need to visit the bank before they can carry out basic banking transactions such as transferring funds between accounts and paying bills.
Speed: Transactions can be carried out in a fast and efficient manner. Also, the risk of carrying cash about is totally eliminated. People don’t need to stockpile cash at home.
It Keeps You Safe: In this period of the pandemic when keeping social distancing is the new norm, UBA online banking keeps you safe as you don’t need to mingle with anyone neither do you need to exchange cheques, tellers, or cash before you can conduct your banking transactions. In fact, you can stay indoors and still carry out your normal payment and receiving transactions.
Low Overheads: UBA online banking reduces customers’ overhead fees. For instance, customers may not need to apply to the bank for the printing of their bank statements. Also, the fact that you don’t need to drive or commute to the branch location saves you transportation costs. The use of cheques is also minimized.
Simplicity: It does not take more than two minutes to be enrolled in online banking. It is simple to open and any literate person can easily operate it.
Availability: Internet banking is available all time whether during the day, night, holidays, weekends, home, or abroad as long as you have an active internet connection on your device.
Accessibility: Customers can easily keep an eye on their transactions. They can quickly check their account balances before any payment is made. So, the problem of issuing a cheque that will later bounce due to insufficient funds is totally eliminated. Even if you want to make payment from your online banking platform, the system will not allow the payment if the amount exceeds your available bank balance. So, there is no problem with the dud cheque here.
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Some people are scared of internet banking because of the fear that somebody somewhere may have access to their account and withdraw their money. Well, customers have the responsibility to keep their login details safe and secure. On the part of the bank, some security features are put in place to ensure that customers’ monies are safe.
UBA online banking is available in different countries where the bank operates, These countries include Benin Republic, Burkina Faso, Congo DRC, Cote dÍvoire, Gabon, Ghana, Guinea, Kenya, Liberia, Mozambique, Nigeria, Senegal, Tanzania, Uganda, and Zambia.
UBA Corporate Headquarters
The bank’s corporate headquarters is located in Lagos, Nigeria. The Head Office address is 57 Marina, Lagos, Nigeria
UBA Customer Care
To contact the bank, you can call their customer care numbers, +234 700 2255 (0700-CALL-UBA), +234 1 280 8822 (2808UBA), +234 1 631 9822. Alternatively, you can send an email to cfc@ubagroup.com.
However, for prompt response to your inquiry, you may visit any of the UBA branches closest to you.