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Saturday, February 8, 2025

UBA Launches Ruby Account For Today’s Woman

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In response to the call by the Bankers’ Committee to empower more women financially in 2012, United Bank for Africa Plc has introduced a gender specific personal current account product called Ruby, a premium account specially designed for women. Hear the Head, Retail Products of UBA, Mrs. Osunyomi Olumide on it

What is Ruby Account?
The UBA Ruby account is a gender-specific product designed for female customers of UBA to satisfy some of their business and personal needs. It’s a current account specifically designed for discerning women, providing unique services to fit the banking needs of UBA’s exquisite female customers.
The Ruby account is a female account and as the name depicts, it is a precious stone. The Ruby stone particularly for women is jewellery that is of high value which we think aptly describes the value of this special current account designed for women. We say it is for discerning women because we all know women love bargains and Ruby comes with a lot of perks. There are certain conditions to be fulfilled to be a part of the Ruby club so to speak, but the benefits are much more than the conditions.

What does it take to open a Ruby account?
The conditions are that you must have the minimum operating balance of N500, 000, about $2500 now. That money is remunerated at one per cent. As the balance goes up, you can get up to two per cent. It is a current account. Ordinarily, current accounts don’t earn interest. And it is savings that do. Like I said, women love bargains, women love to buy things at the lowest price at the highest quality and also still have something to go away with. That is like the discount UBA is giving on that particular product. It is zero COT ever before the CBN mandates banks to start reducing their COT. As far back as 2011, UBA had removed COT on accounts for women.
Basically, the bank had already zeroed out the COT for this particular account, basically the key for this is just the N5,000 minimum balance, the normal conditions for opening the current account holds two references, your normal ID and we all know now that CBN has even allowed us to use the voters ID card. It is an acceptable identification, just like we have the driver’s license, the international passport. You fill the account opening form as an individual, and then you bring the two references and a utility bill, just the normal requirements that you are to bring.

So what are benefits that come with the account?
Oh yeah, we have a lot of partners not just in Lagos, basically in the key locations what we call the LPA-Lagos, Port-Harcourt and Abuja. We have partners in all those places that cut across sectors that we know women love to patronise for themselves or for their kids. Partners who deal in businesses like Spa, Beauty Salon, Dry cleaning, women’s clothing, children’s clothing’s, Restaurant, pharmacies, you know women are the ones who shop and do all the up keep for the house or husbands or partners. We have a partnership with a car rental company, Avis which offered opportunities for discerning women who will rather be pampered and not stand by the road side wanting to pick a taxi. You know what, Avis rental is not just in Nigeria but in various countries all over the world, so whatever we negotiate with them covers Ruby account holders universally, anywhere Avis rental is across the world.
Current partners where Ruby account holders can have exclusive access and enjoy significant discounts include; AA Rescue, Ruff and Tumble, Laterna ventures, Zaron International, Clear essence Spa, Avis Nigeria, Mega care, Fine and Country, Bulwark Vault & Safes Deposit, Exquisite Magazine, Nathans Superior Dry-Cleaners, Laserderm Clinics, Body Boost, Prime wash drycleaners, Ginger Blu, Bold & Beautiful Salon and many more.
We also have functions like lifestyle events that some of our partners or non-partners are organising and we pay for Ruby account holders to attend. It is important that these events address issues such as women empowerment and There was one we had recently in Muson “Hear Word” family issues were being discussed and it was really a great one so we invite Ruby customers.
You spoke of personalised gift for Ruby account holders; can you shed more light on that?
We have three gifts, and yet we have a luxury gift for each customer and when we say it is a luxury gift, it is a designer gift. It is actually a Mont Blanc pen. For those familiar with luxury gifts, you know Mont Blanc is a high-profile luxury brand. This is what every Ruby customer is entitled to when you have exceeded a particular balance and for you to get the luxury gift, we expect you to have done up to two million naira transactions over six months. The gift is customised and personalised for the customer.

For an account that is gender–oriented, is there any partnership with women based organisations such as WIMBIZ (Women in Management, Business and Public Service) and others?
Yes, we do; unfortunately we couldn’t make the last edition of WIMBIZ. I also know of NACIMA women, Women Chamber of Commerce the segment of it anchored by Mrs Lawson and so we also do things with them.

Can the Ruby account be linked with other accounts one has with UBA to avoid carrying several cards?
Yes, any card can be linked to as many cards as you like but yes it has to be the same name. So, if I am a Ruby customer for instance the reason why we have a special card is because your card is your passport to all the benefits. For instance, if I go to Laterna ventures and I’m done with my purchase and want to pay at the till, I can use my Ruby card which shows I am a Ruby customer but if I have other accounts and want to link my savings account to it, yes I can link it. Our account holders don’t have to carry out multiple cards.

I want to find out if cheques are also customised and what advantage does it offer against others?
The cheque leaf is just branded to give you the uniqueness by exclusive, if not checks are subjected to whatever we have in the regulations of CBN. It is the same process. If you are in a branch, we could give you preference but if we find out that the Ruby customers they are savvy enough to know that they do not have to come to the branch to carry out their transactions because of e-banking through their phones and laptops or internet and our internet banking, they are quite up to date. And then one thing for Ruby that I must mention about all our accounts is that you can open the account online without coming to the branch. When you open the account online you only take 10-15minutes to submit your initial details and you get your account number. You can do that for Ruby, like a transcending woman who is very busy and is interested in Ruby through our website or some other sites that we have partnership with and based on what you submit, someone can even come over to pick up your details from the branch that you picked. That also applies to all other retail accounts that we have.

Talking about priority pass, how does it work with the Ruby account?
The priority pass is free and it comes along with the Mastercard or the Gold branded card for Ruby and you get the free priority pass. What the free priority pass does is that you can also bring one person into the lounges where it is accepted in the world and we have over 600 branches including Africa. One of my colleague and I travelled to Abidjan and I forgot my card but my colleague brought his so I was allowed access. It doesn’t matter the class of tickets that you have but you are allowed access, in some of the lounges there are some free refreshments but some you have to pay for, at least it gives you access to a comfortable place, wifi and all of that is the beauty of the priority pass.
Priority Pass Membership offers great value for money and allows members to use any of 600 airport lounges in more than 100 countries and 300 cities worldwide, use lounges regardless of the class of travel or airline they are flying, privileged access to over 70 US Airport VIP Lounges, relaxation ambience for both customer and her guests, complimentary refreshments and snacks as well as access to e-mail, internet and conference space powered by WIFI technology

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