Banking
Go Beyond Banking, Do Everything and More With AccessMore App
The last time a family member of mine booked a plane ticket they had to go to the airport to do it. Imagine if you could book international flights from the comfort of your hands. Imagine being able to send money to someone in the UK from your Nigerian account directly into their UK account or even converting dollars to naira easily on your bank app. These features and more are what Access Bank is offering through the newly launched Access More app.
Beyond just banking
AccessMore is a state-of-the-art, mobile banking application offering a wide range of financial solutions, tailored and personalized services, and excellent customer experience. With five million downloads and counting, the Access More app is more than just a banking app, it is tailored to fit around customer lifestyle needs and is packed full of essential banking features to improve the lives of its users. With growing internet access on the African continent and a large youth population, many individuals are seeking better financial options and a large percentage of people would like more tailored and globally useful banking products. With Access More, Access Bank has set out to offer its customers the efficiency of modern banking from the convenience of their phones.
Some of the standout features on the app include;
- Better account management
On this app, customers get instant and direct access to their account officer. This gives customers a direct line to resolve whatever issues they may encounter. You can rate your account officer and change them if you want. Traditional banking services are also more accessible through this app. Users can perform regular banking functions and also get e-reference letters and request account statements.
Transfers
This is one feature that customers will be delighted to explore on this app. The AccessAfrica feature of the Access More app allows users to make foreign currency transactions seamlessly. Customers can make transfers from their Access account directly to a foreign bank account in either local currency or the US dollar. They can also convert their FX to naira on the app effortlessly, create e-naira wallets, or add existing wallets. Intra-bank and Inter-bank transfers and transactions are also faster and easier on this app.
More Payment options
AccessMore has made sending and receiving payments better by giving users multiple methods to do this
With AccessMore you can;
- Generate personal QR codes to send and receive payments.
- Send and receive money via Bluetooth with nearby devices.
- Pay using Breezepay.
- Make cardless withdrawals at ATMs.
- Send split payments to multiple recipients in one transaction. (Split payment is more of sharing payment among multiple payers to one beneficiary, more like splitting payment like t-fare, or restaurant/food bill among friends)
All these payment features make it easier for business owners and individuals to perform the most essential banking transactions and it also creates better payment avenues for them.
One other very interesting feature of the app is the gift cards (e-vouchers). The electronic voucher market has seen steady growth in Nigeria, on Access More, you can get a gift card for Amazon, Apple, Primark, Airbnb, Express, Tripgift and many more
Bill payment
With this app, paying bills is better, more convenient, and more reliable. You can buy data and airtime both locally and internationally on this app. One notable feature of paying bills on this app is the tuition payment feature. Currently, students in Nigeria can pay school fees on the app and students of Cranfield University in the UK also have access to this feature. Users can pay all types of utility bills directly from this app which also includes religious bills, like tithe and other payments to religious bodies. It also includes transport tolls and customs duties, making it easier to conduct both public and private business efficiently.
Loans
Users with active loans or who have requested a loan can view their loan status on the app. Access Bank offers salary advance loans, and also personal and business loan options with competitive interest rates and quick processing times.
Cards
All types of cards are accessible through this app. You can request for a credit, debit, or virtual card. (You can also activate or block your card on the app) Users can also manage their cheques on this app including requesting, stopping, or confirming a cheque.
Additional features on this app include being able to make payments for leisure activities like event tickets and betting. You can plan your life better with access to quick and easy insurance, pension payments, group contributions on e-susu, and more. Customers can also comfortably make fixed investments on their accounts through this app. (You can buy and sell shares on the app and also manage your stock portfolio) Overall, the banking features on this app make an improved financial lifestyle more accessible to Access Bank customers.
Access Bank is known for its diverse financial options tailored to meet the varied needs of its customers. This AccessMore app is its way of continuing to live up to this goal. Access More packs a multitude of essential features into a user-friendly and highly secure mobile app. All these features provide more financial accessibility and security to Nigerians.
By Aduragbemi Omiyale
The Central Bank of Nigeria (CBN) has reaffirmed that the old and new Naira notes will continue to be used for financial transactions in the country beyond December 31, 2024.
There had been rumours that the old and redesigned N200, N500, and N1,000 banknotes would no longer be legal tender from Wednesday, January 1, 2025, because the central bank would phase out the notes in compliance with a Supreme Court judgement of November 29, 2023.
But the apex bank, in a statement signed by its acting Director of Corporate Communications, Mrs Hakama Ali, on Friday, clarified that the apex court’s judgement being cited did not authorise the bank to phase out the banknotes by the end of this year.
According to her, the court allowed the CBN to leave the old and new notes to be used concurrently until it decides to gradually phase out the former.
The central bank’s spokesperson urged members of the public to disregard claims suggesting the old series of these denominations would cease to be valid at the end of this year.
She urged them to continue to accept all Naira notes for daily transactions, encouraging banks to also adopt alternative payment methods such as electronic channels to reduce the pressure on physical cash usage.
“The Central Bank of Nigeria (CBN) has observed the misinformation regarding the validity of the old N1000, N500, and N200 banknotes currently in circulation.
“In line with the bank’s previous clarifications and to offer further assurance, the CBN wishes to reiterate that the subsisting Supreme Court ruling granted on November 29, 2023, permits the concurrent circulation of all versions of the N1000, N500, and N200 denominations of the Naira indefinitely.
“For the avoidance of doubt, all versions of the naira, including the old and new designs of N1000, N500, and N200 denominations, as well as the commemorative and previous designs of the N100 denomination, remain valid and continue to be legal tender without any deadlines,” the statement noted.
By Adedapo Adesanya
Access Bank Plc, the banking subsidiary of Access Holdings Plc, has entered into a binding agreement with South African-based Bidvest Group Limited for the acquisition of 100 per cent equity stake in Bidvest Bank Limited.
The deal for the 24-year-old South African lender is due to be completed in the second half of 2025, upon regulatory approval.
This shows Access Bank’s further expansion plans in line with goals set by its late founder, Mr Herbert Wigwe.
The agreement to acquire 100 percent stake in Bidvest Bank reflects Access Bank’s commitment to strengthening its footprint in South Africa and consolidating on its position as the continent’s gateway to global markets as it seeks to optimise the benefits of recent acquisitions and accelerate its transition towards a greater focus on efficiencies.
Bidvest Bank, founded in 2000 is a niche and profitable South African financial institution providing a diverse range of services, including corporate and business banking solutions and diverse retail banking products.
As of its year ended June 2024, Bidvest Bank reported total assets equivalent of $665million and audited profit before tax of $20million.
Upon conclusion of this acquisition, Bidvest Bank will be merged with the bank’s existing South African subsidiary to create an enlarged platform to anchor the regional growth strategy for the SADC region.
This is coming just as the bank opened a new branch in Malta as part of efforts to focus on international trade finance after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
The Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
By Modupe Gbadeyanka
To strengthen Europe-Africa trade ties, Access Bank has opened a new branch in Malta. It will focus on international trade finance, employing approximately 30 people in its initial phase, with plans for controlled expansion over time.
It was learned that this Maltese branch was established by Access Bank UK Limited, the subsidiary of Access Bank Plc, which is also the subsidiary of Access Holdings Plc, which is listed on the Nigerian Exchange (NGX) Limited.
Access Bank Malta Limited commenced operations after obtaining a banking licence from the European Central Bank (ECB) and the Malta Financial Services Authority (MFSA).
Access Bank said the licence marks a transformative milestone in bolstering Europe-Africa trade flows.
Malta, a renowned international financial centre, and a gateway between the two continents, is strategically positioned to play a pivotal role in advancing commerce and fostering economic partnerships.
This strategic expansion into Malta enables The Access Bank UK Limited to leverage growing trade opportunities between Europe and Africa.
It underscores the organisation’s commitment to driving global trade, financial integration, and supporting businesses across these regions.
“By establishing operations in Malta, we will gain a foothold in a market that bridges European and North African economies, moving us one step closer to our goal of becoming Africa’s Gateway to the World.
“It further enhances our bank’s capacity to support clients with innovative solutions tailored to cross-border trade and investment opportunities,” the chief executive of Access Bank, Mr Roosevelt Ogbonna, stated.
“Europe has emerged as Africa’s leading trading partner, driven by initiatives such as the Economic Partnership Agreements between the EU and African regions and the African Continental Free Trade Area (AfCFTA).
“With Europe-Africa economic relations entering a new phase, The Access Bank Malta Limited is ideally positioned to deepen trade and meet the financing and banking needs of our clients in these expanding markets,” the chief executive of Access Bank UK, Mr Jamie Simmonds, commented.
Also speaking, the chief executive of Access Bank Malta, Renald Theuma, said, “Malta is uniquely positioned as a bridge between Europe and Africa, making it an ideal location for our subsidiary. This move allows The Access Bank Malta Limited to engage more closely with customers in Europe and deliver tailored financial solutions that drive growth and connectivity across both continents.”
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