A leading regional banking group, Ecobank Nigeria, has unveiled an innovative product, Xpress Cash, which allows customers to withdraw from all its ATMs without use of card.
The Head of Consumer Banking, Ecobank Nigeria, Olukorede Demola-Adeniyi, made this known to news men in Lagos on Thursday.
She explained that the cardless withdrawal concept enables customers and users to withdraw money from its ATMs using only a mobile phone as no ATM card is required.
Xpress Cash, she noted, is a seamless and secure concept driven by the generation of a code (e-token) by an account holder via the bank’s USSD code *326# or mobile app, Ecobank Mobile.
“The e-token can be sent to customers, non-customers and even people without bank account for cash withdrawal at all Ecobank ATMs nationwide.
“Digital payments are fast evolving. Customers want seamless experience across channels. With Xpress Cash, customers can send money to their loved ones who are not even banked.
“You can send money to your domestic servants or unbanked staff just by generating a code and sharing the code,” Demola-Adeniyi said.
She disclosed that Xpress Cash attracts only a flat charge of N50.
She added, “Our USSD code, *326# offers zero session charges, and transfers of N5,000 or less using our digital channels are absolutely free of charge.
“Also, people abroad who need to send money to their loved ones can do so without paying transfer charges using the Rapidtransfer app.”
She assured that the bank will continue to make its services accessible and affordable.
BADEJO ADEMUYIWA has 23 years experience as a Finance Writer, specialising in Insurance and Investigative Reporting.