Economy

UBA Bans ATM Cards Use For Betting, Jewellery Purchase, Others… See Details

Published

7 years ago

August 24, 2017

An information which was contained in an email sent to bank’s customers on Thursday evening, the United Bank for Africa revealed that it has placed a restriction on the use of its debit and prepaid cards for purchasing certain items.

Routed through its official email address, cfc@ubagroup.com, the mail was entitled, “We want you to transact safely,” the items under restrictions include jewellery, p*rnography, dating and escort services.

It was learnt that the bank also forbids the use of its cards for all sorts of betting – including buying lottery tickets, casino gaming chips, off-track betting and wagers (bets).

The bank says the overall aim is to enable its customers transact business safely, and to also protects its own business integrity as regard cases of fraud involving its credit/prepaid cards, with the attendant litigation and damage to its reputation.

The email in full 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;

-Jewellery

-P*rnography

-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.

Thank you.