• Tuesday, May 28, 2024
businessday logo


Banking without Borders: The FirstBank way


Chinyere Nwankwo needed to renew her PayTV subscription, top up her airtime and also pay her electricity bill. She had been busy all day attending meetings in the office. After one of the meetings, a text message from her 12-year-old son who was on holiday reminded her she needed to attend to those needs.

“I am bored at home, mum. When will you pay for the PayTV?” read the text message. Immediately, she instructed her secretary to use her FirstBank ATM card to renew the PayTV subscription online.

FirstBank card products and online platforms have made bill payments easy for consumers. Recently FirstBank and PayPal announced a partnership which will enable FirstBank card holders and businesses enjoy increased transaction limits, receive instant verifications, make online payments and transfer funds across the world in over 193 countries and regions globally. This synergy between FirstBank and PayPal gives the bank an edge over other institutions in Nigeria, which have access to the PayPal platform.

FirstBank Internet-banking customers can now open a PayPal account from their FirstOnline account and use their FirstBank debit or credit card to shop and pay online on millions of websites around the world from their PCs or smartphones, without having to share their card details with the seller and with the added reassurance of PayPal Buyer Protection.

The partnership will provide convenience for our customers that love to shop online or carry out money transfers across our various alternative channels.

With FirstBank international cards, consumers like Chinyere don’t have to worry when they travel or shop online. FirstBank International cards offer a veritable platform for consumers to have a pleasant shopping experience anywhere in the world they travel to or make online payments.

For instance, the FirstBank Visa gold card, an international cash-collaterised credit card issued in partnership with Visa International is accepted for payment at over 29 million locations and for cash withdrawals at over 1.8 million ATMs in over 200 countries and territories worldwide, anywhere the Visa logo is displayed.

“The customer is expected to open a Visa Gold card account (US Dollar Domiciliary account),” says Folake Ani-Mumuney, Head, Marketing and Corporate Communications, FirstBank, to enjoy the benefits of our Visa Gold card.  All withdrawals from the account will be via the Visa Gold card. Hence, no cheque booklet will be issued. Minimum balance to be left in the account at all times is $50. There is a card issuance fee of $25 and annual maintenance fee of $50. Customers will enjoy discounts and rewards at hundreds of outlets worldwide. It is a hundred percent available and dependable. The FirstBank Visa Gold card has been designed to ensure that your transactions always go through at all times.”

In addition, she says Visa Gold Card gives the customer greater spending power. “There’s no limit to how much you can access from your Visa Gold card. Your spending power is only limited by how much you pay into your Visa Gold card account. It is convenient for use across all channels including POS, Internet and ATMs, wherever the Visa logo is displayed.”

The FirstBank Visa Infinite card is another way for the affluent individual to spend big this summer.  It is the ultimate bouquet of personalized rewards and benefits designed to complement the lifestyles of the discerning, successful and prestigious few. “This product is available to FirstBank Private Banking clients and by invitation only,” explains Ani-Mumuney. “With an extraordinary selection of distinctive travel, dining, shopping and lifestyle offers, your FirstBank Visa Infinite card is your frictionless access to the finest things in life.”

Visa Infinite features include the Visa Infinite mark, the guarantee to priority attention and dependable services. It has a validity period of two years and it is protected by EMV Chip and PIN Technology.

“Customers stand to enjoy over 87 international rewards and offers,” adds Ani-Mumuney, “available on the dedicated website. It is a personalized attention from FirstBank Private Banking and it gives access to international concierge, medical services and legal assistance. There is comprehensive insurance services, including purchase protection, extended warranty, and travel insurance multi-lingual round-the-world, round-the-clock support, providing 24 hours emergency card replacement, 24 hours emergency cash disbursement and emergency payment authorization. It is accepted worldwide for payment at over 28 million locations in over 200 countries. It is convenient for use across all channels including POS, Web, Mail Order/Telephone Order and ATMs. It comes with flexible credit limit.”

For those who prefer a naira based card, the FirstBank Naira Master card offers a good alternative.  The FirstBank Naira MasterCard is an international debit card, denominated in naira. It is linked to your Naira Savings or Current account.

“Your Naira MasterCard enables you carry out transactions anywhere in the world while your Naira account is debited,” explains Ani-Mumuney.”

Its features include the secure chip and PIN technology, daily local ATM withdrawal limit of N100, 000, daily local POS transaction limit of N500, 000 and POS/Web limit increase available upon request.  It is valid for two years.

“With the Naira MasterCard, there is no need to source for foreign exchange whenever you are travelling, as transactions are debited directly to your naira current or savings account,” explains Ani-Mumuney. “It is accepted internationally, wherever the MasterCard logo is displayed and it is an EMV card with enhanced security that ensures safety of your funds and transactions.  With variants of cards, our internet banking platform; FirstOnline and over 2500 ATM machines, FirstBank is demonstrating how putting customers first is all that matters, a clear testimony to the new value proposition, You First.