Stanbic launches fee-free overdraft for salary workers
In transport circles, a red sign is always portentous; it means “stop” or “be cautious”. At Stanbic Bank Ghana, however, red now signifies good treat for its customers, because they can now access a free overdraft without interest charges or fees for a year.
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From November 1, 2014 to January 31, 2015, a customer who opens a new salary account with the bank will be eligible to access the interest free and fee-free overdraft facility for a whole year.
“Whereas a red account normally signifies lack of funds and the inability to do the things that matter, Stanbic says a customer can be short of funds and still be on the go with this arrangement,” the Head of Personal Markets, Stanbic Bank, Mr Ben Mensah, said.
“When you are in Red with Stanbic, you can still ‘GO’ because it's for free. Stanbic Bank customers now have the ability to override the red light and get the money they need to do the things they hold dear,” he said.
The head of personal markets said the product was in response to the needs of customers as a way of lending them a helping hand.
At Stanbic, the salary account entitles the customer to a number of benefits such as zero service fees on current accounts for three months, free first cheque book, free SMS / email alerts and internet banking.
The rest are a free international visa debit card, free ATM withdrawals at Stanbic ATMs, free and prompt processing of salaries and many more.
In addition, customers will have access to flexible and competitively priced personal loans, vehicle and asset financing, as well as mortgage packages to suit their financing needs and access to a wide range of other Stanbic savings and investments products.
