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By signing up to become a UnionDirect Agent, you can be on your way to making thousands of Naira every month. The bank claims that working as an agent can fetch you around N100,000 every month. However, I want to believe that the location of your business will play a vital role.

What is UnionDirect?

UnionDirect is the agency banking platform created by Union Bank of Nigeria in order to bring banking activities closer to the Nigerian population especially those who are considered unbanked or under-banked. The bank engages individuals (other than the staff of the bank) and other businesses to carry our banking transactions on behalf of the bank) . If you want to become a UnionDirect agent, you will need to meet certain requirements. The requirements are highlighted below:

Requirements for Becoming A UnionDirect Agent

• Have an account with Union Bank. Anybody cannot just walk in to the bank and say that he wants to become a UnionDirect Agent. Only customers of the bank are qualified to become their agent. This means that you are expected to have a bank account with the bank. It can either be Saving or Current Account. Also, you must have operated the account for the period of minimum six months.
• Own an Existing Business: Having an account with Union Bank is not enough. You should have an existing business that you are doing. You cannot depend solely of the UnionDirect Agency banking as a business. You must have a business that you have been operating for a specific period and the business must be in a physical location that is easily accessible.
• Have at least one Staff: You should have a minimum of one staff dedicated to support the UnionDirect Agency banking.
• Minimum Capital of N150,000: You need a minimum working capital of N150,000 (One Hundred and Fifty Thousand Naira). You should understand that the money remains your own. You are not paying the money to the bank as registration fee. The bank just wants to be sure that you have enough capital to support the business.
• You must provide relevant business information. The information you will provide depends on whether you want to run the UnionDirect Agent banking as an individual or as a registered company. People that can register for UnionDirect Agent banking include Limited Liability Companies, Cooperative Societies, Sole Proprietorships, Unregistered SMEs or Individuals. This means that you can register with either business name (corporate account or in your personal name (an individual account). Entities Exempted from Becoming UnionDirect Bank Agent Banking include Non-Governmental Organizations (NGOs), Faith Based Institutions, Union Bank Staff and Associates, Bureau De Change (BDCs), and Not for Profit Organizations.
• Complete the UnionDirect Agent registration form: You will need to obtain a form from any of the Union bank branches. You will fill the form and execute the agreement and then submitted the completed form to agentbanking@unionbankng.com in case you are sending by email. Otherwise, you will submit the completed form at a Union bank branch.
• If you want to enquire for any information on how to become a UnionDirect Agent, you can call the bank customer service on 07007007000 or send a mail to customerservice@unionbankng.com.

Benefits of UnionDirect Agent Banking

You may want to know the benefits you will enjoy as a UnionDirect Agent Banker. Below are some of the benefits:

• Cash Management: Agents have the opportunity to evacuate cash off their retail premises. This makes the risk low.
• Extra Income: You are not rendering banking services for free. You will enjoy certain commissions on the transactions customers carry out from your outlet.
• Improved Status: Anybody who can be trusted with money tend to enjoy respect from people.
• Added Value: You will be adding value to your customers. Besides the monetary gains you will enjoy, this makes you more fulfilled.
• Increased Sales: You will have many people visiting your stores. With more traffics coming to you, more people will get to know about what you sell. Some of them may end up buying from you. This will automatically increase your sales. The fact that they necessarily need to pay cash gives you an edge over others.
• Instant Payment Confirmation: You are sure of all the transactions as they are instant. So, there is no fear of losing your money to somebody who may want to withdraw when he is not having money in his account.

Read Also: Comprehensive Guide on How To Become a Firstmonie Agent

Benefits to Customers

• Convenient: The dread of a long queue is one of the things that discourage people from visiting banks. The agent banking makes things easy and convenient for people.
• Accessibility: Agents are closers to customers and more accessible. They don’t need to travel far before they can enjoy banking services. This saves them time and money.
• It accepts all banks: It works like ATMs. Customers can withdraw from any agent banker regardless of your bank.
• Security: Customers don’t need to carry cash in a long distance now. They don’t even need to store cash at home with the assurance that they can always get the cash they need per time from agent bankers. Also, customers get receipt and alert for their transactions.

Required Documentations

The documents you will need to submit depend on whether you want to register with a business name or as an individual. If you are registering with business name (Corporate account), you will need the following:

• Duly completed registration form
• Valid means of identification such as International passport, Driver’s license, National ID card or Voter’s card.
• Utility Bill for proof of address
• Tax Identification Number (TIN)
• 2 Passport photographs
• Memorandum and Article of Association
• Certificate of Incorporation

However, if you want to register as an individual, below are the required documentation:

• Duly completed registration form
• Utility Bill for proof of address
• Biometric Verification Number (BVN)
• 2 Passport photographs
• Valid means of identification such as International passport, Driver’s license, National ID card or Voter’s card.

Union Bank Near Me

If you are finding it difficult to locate the nearest Union Bank branch to you, you can use the map below to navigate your way. For your information, Union bank of Nigeria was founded in 1917. The bank offers a portfolio of banking services to Individuals, Small and Medium Enterprises, and Corporate Organizations. The bank has more than 284 service centres and more than 934 ATM locations spread across the states of Nigeria. Union Bank of Nigeria is a public limited liability company. Its shares are listed on the Nigerian Stock Exchange.

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