Skip to main content

UBA introduces RUBY account for special women in Ghana



By: Fred Yaw Sarpong

Ruby is a current account, specially designed and targeted at the bankable women within the mass affluent and high net worth individual segment of the Ghanaian population. It was launched by United Bank for Africa (UBA).

The Ruby account has unique features that set it apart from other banking products in the industry. The features include; Zero COT and highly attractive interest rates of 6%, customized debit cards and cheque book, no limit on number of withdrawals or deposits; up to 50% discounts on services from RUBY partners.

The Ruby partners are made of women hospitals, spas, automobile companies, furniture firms, mobile phones companies, and many more.

The targeted women are Self Employed Professionals, Executives, Entrepreneurs, Professional women – mid to senior level officers and management, Employed professionals, Housewives, married to spouses with mid to high income, Politicians, and among others.

The Chief Executive Officer/Managing Director of the bank, Mrs. Abiola Bawuah explained that they focused on women because; generally women have a prudent savings culture because of the dependency of the family on them.

She noted that women are becoming financially independent, they are taking up high positions in institutions, and more women are becoming entrepreneurs, doing good business.

Mrs. indicated that this initiative is to increase the growth of the bank demand deposit portfolio; significant fee income opportunities from transaction fees and e-Banking.

‘Accounts with high minimum operating balances have remained our most profitable in the bank; this will increase the tally in number of highly profitable liability products in the bank,’ she added.

According to her, key alliances and partnerships (top-end beauty salons and spa, designer labels etc) developed to support this product will be flowed into their Corporate and Commercial Banking customer base

Daily Express gathered that any Ruby account holders will automatically become members of Ruby Club. The Ruby Club will offer various kinds of meetings for the women to share ideas, learn developmental issues, plan their progress, and also offer social services to Ghanaian society 

The Ruby account is in two parts: Ruby Classic and Ruby Premier. Ruby Classic requires GHc2,000 as a minimum opening balance, while GHc5,000 minimum opening balance also required for Ruby Premier. All these accounts comes with special discounts and benefits.

Some of the additional benefits to the account holders are zero COT account (Subject to maintaining the minimum operating balance); access to consumer credit facilities (salary accounts must be domiciled in UBA and employer must be listed on FinnOne); Access to discounts at various partner shops/outlets/concierges nationwide using Ruby cards on POS at the shops; and free enrolment for e-banking products and services.

The Ruby Current Account is doing extremely well in Nigeria and expected to be move to all UBA operating countries.

United Bank for Africa (UBA) Plc is one of Africa’s leading financial institutions offering universal banking to more than 7.5 million customer accounts. UBA currently operates in 19 African countries besides presence in leading world economies such; New York, London and Paris.




Comments

Popular posts from this blog

PIAC told to go to court to enforce recommendations

By: Fred Yaw Sarpong
sarpong007@gmail.com

The Public Interest and Accountability Committee (PIAC), the mandated body to monitor the use of Ghana’s oil revenues has been asked to go to court to seek strict compliance of the laws covering accountability of oil funds in the country.

According to Dr. Steve Manteaw, the Campaign Coordinator for ISODEC and a member of the PIAC , it’s time for PIAC as a body to consider going to court to compel institutions responsible for managing Ghana’s oil revenue to answers some questions concerning the expenditure of oil funds.

He pointed out that there are several recommendations made by the PIAC in its past reports on management of petroleum revenues, and a lot of these recommendations has received no positive response from the institutions concerned.

He disclosed this to the Daily Express at a three-day workshop on Interrogating the 2016 Semi Annual PIAC Report at Koforidua in the Eastern Region.

The workshop was organized by the Institute of Financ…

BoG shuts down two financial institutions

The Bank of Ghana has closed down two financial institutions in the country. This was after the central bank investigation revealed that the two companies were operating without approval.

The two companies were Agro Development Fund Services Limited (ADFSL) and Hebron Financial Investment Limited (HFIL).

The Daily Express gathered that the ADFSL was asked to stop operating after the central bank realized the institution had not been licensed to take deposit from the public.

A statement from BoG said the ADFSL continued to operate despite the orders from the Bank of Ghana. It however closed down ADFSL’s operation until further notice.

The Bank of Ghana said that the ADFSL is located at Asufufu, opposite the Sunyani Traditional Council in the Brong Ahafo region.

“The decision to close down ADFSL is in furtherance of section 20(2) (g) of the Banks and Specialized Deposit-Taking Institutions Act, 2016 (Act 930). Bank of Ghana has investigated ADFSL thoroughly and has concluded that its a…

Graphic Communication Group staffs petition GJA Election Dispute Adjudication Committee

Some staffs of the Graphic Communications Group have petition the Election Dispute Adjudication Committee of the Ghana Journalists Association (GJA) concerning their grievances covering issues affecting the association.
The staffs of the company seeks some clarification on the mandate of the current executives of the association.

BELOW IS THE FULL STATEMENT (Not edited)
Dear Sir,
DISPUTE ABOUT THE MANDATE OF THE EXECUTIVES OF THE GHANA JOURNALISTS ASSOCIATION AND THE LEGALITY OF THE GJA ELECTIONS OF 2017
We the undersigned write to place before you our grievances covering issues affecting the Ghana Journalist Association, and we hasten to add that our grievances are placed before you in furtherance of our constitutional duty under Article 11 (e) of the 2004 Constitution of the Ghana Journalists Association.
We first of all seek clarification on the mandate of the current executives of the Association to be in office and take decisions to affect the wellbeing and welfare of the Associ…