12-08-2017, 10:44 AM
The bank has put this measure in place to
reduce incidence of fraud, legal and
reputational damages.
The United Bank of Africa, UBA, has issued
a ban on the use of its ATM cards for
subscribing to betting, pornographic as
well as dating and escort services
websites, among others.
The financial institution made this known in
a mail sent to its customers titled “we want
you to transact safely”.
The bank also noted that customers will no
longer be able to use their ATM cards to
fund certain lifestyles.
The mail sent to customers on Thursday
evening of August 24, 2017 noted that the
UBA debit and prepaid cards are now
restricted from carrying out such
transactions.
The mail reads: “We wish to inform all
cardholders that we have placed restrictions
on the Bank’s debit and prepaid cards from
carrying out transactions with merchants
that are transacting on the following
business categories; -Jewelry -Pornography
-Dating and Escort Services -Betting
(including lottery tickets, casino gaming
chips, off-track betting and wagers).
This has become necessary with the
increased need to protect our customers
and the institution from fraud, litigation and
reputational damages.”
UBA is a Nigerian multinational financial
institution. It is one of Africa's best and
most resilient banking groups with
operations in 19 African countries and
offices in three global financial centers:
London, Paris and New York.
reduce incidence of fraud, legal and
reputational damages.
The United Bank of Africa, UBA, has issued
a ban on the use of its ATM cards for
subscribing to betting, pornographic as
well as dating and escort services
websites, among others.
The financial institution made this known in
a mail sent to its customers titled “we want
you to transact safely”.
The bank also noted that customers will no
longer be able to use their ATM cards to
fund certain lifestyles.
The mail sent to customers on Thursday
evening of August 24, 2017 noted that the
UBA debit and prepaid cards are now
restricted from carrying out such
transactions.
The mail reads: “We wish to inform all
cardholders that we have placed restrictions
on the Bank’s debit and prepaid cards from
carrying out transactions with merchants
that are transacting on the following
business categories; -Jewelry -Pornography
-Dating and Escort Services -Betting
(including lottery tickets, casino gaming
chips, off-track betting and wagers).
This has become necessary with the
increased need to protect our customers
and the institution from fraud, litigation and
reputational damages.”
UBA is a Nigerian multinational financial
institution. It is one of Africa's best and
most resilient banking groups with
operations in 19 African countries and
offices in three global financial centers:
London, Paris and New York.
