Emmanuel Uffot
Ecobank PLC, has unveiled its new academic year Back to School product with a call to schools and parents to make the bank their preferred choice for fee payment and collection and stand to gain exciting benefits.
The Head of Consumer Banking of the Pan- African financial institution Mrs Korede Demola – Adeniyi made the appeal while rolling out the product s recently. According to her the products which are special loan packages are designed as back to school initiatives for parents, guardians and schools with its overall strategy to support the development of the nation’s education sector.
She listed the features of the Back to School product for educational institutions to access loans and capital to include, easy fee collection, zero charges on collection accounts with Ecobank pay, secure online banking with Omni Lite and smart cards for easy payments.
On the loans available for educational institutions, she noted the exciting benefits to include accessing it without bottlenecks as the bank takes into consideration the nation’s current economic realities.
Similarly, on the bank digital platform which is noted to be one of the best in the industry, Mrs Adeniyi explained that the digital platforms were optimised to make them convenient for school fees and other education related payments. ” As a bank that is passionate about education, we are prioritising the need of customers at this period when school resume. Children deserve to go to school and are making it easy for parents to provide them this basic rights as Ecobank has demonstrated that pedigree and expertise in fee collection both locally and internationally”.
On the packages for the parents, the bank stressed that the loan products would enable them to pay school fees for their children and wards for 2023/2024 school year.
According to the bank, the digital platforms offered by the bank in Back- to School packages are also targeted at reducing the financial burden on parents and students and facilitate the ease of payments of fees without much hassles.
Some of the digital platforms listed by the bank’s executive include, Ecobank Mobile App, Ecobankpay, Ecobank Online for contactless fee payment, personal loans and salary advance packages at competitive interest rates, international transfers for offshore school fees payment and affordable remittance offerings.
Under this platform, the bank has also made provisions for those in diaspora. Those families abroad can through the product, send money home to help with fees at zero charges on Rapidtransfer App.
The bank has therefore urged schools, parents and guardians to appoint Ecobank their preferred bank for payments and collections given the pedigree of the bank over the years in offering these services. And equally extend encouragement to schools and individuals yet to open Ecobank accounts to avail themselves of these exciting products that have endured the bank to its teeming customers under the educational products.
The Back to school product has become a common phenomenon by the bank during the resumption of new school year. This dates back to 2021/2022 session, 2022/2023 session and this session.
In 2022 session, the bank modified the Back- to school loans and remittances by also providing Back 2 School gifts to customers when they receive inflows for school fees payment into their domiciliary account.
Another key product under its array of educational products is the Ecobank Rapidtransfer ‘ Back to School’ campaign which commenced in 2014. It enables parents and guardians to pay their children’s school fees with ease.
The campaign according to the bank was mooted to create the necessary awareness for parents and guardians to know that they can pay their fees with ease.
The Ecobank back to school products have continued to excite its teeming customers in this sector mostly, educational institutions, parents and guardians. Checks revealed that many banking public have keyed into the product given the exciting benefits that come with them especially on ease in payment of fees both within and in diaspora.
