Republic Bank Ghana Plc., a subsidiary of Republic Financial Holdings Limited of Trinidad & Tobago and one of the most diversified financial institutions in the country, has taken a step further in bringing banking to the doorsteps of its customers by introducing its four VISA credit cards, The Fantastic 4 Cards.
The newly introduced cards include the Republic Bank: VISA Business Credit Card, VISA Infinite Credit Card, Adeshie VISA Credit Card, and the VISA Classic Credit Card. These cards offer limitless banking products to various categories of its customers.
Charles William Zwennes, Chairman of the Board of Directors of Republic Bank Ghana Plc, lauded the management and staff of the Bank for their hard work under the supervision of his Board. He highlighted that these efforts are yielding positive reactions as shown in the growing interests of Republic Bank’s shares and investors on the stock market.
Mr. Zwennes said the new banking environment is about differentiating products and services that provide increased choices, controls security and accessibility.
“The ability of financial institutions to deliver products and services in the most efficient and effective manner will be key to determining performance and relevance as we go forward. The growing evolution and demand for online financial services will also lead to greater digitization of banking services. Whilst the use of cash and cheque will continue to be important, more consumers are realizing the convenience and flexibility of electronic banking of meeting daily payment needs”.
Charles William Zwennes
Republic Bank Ghana Plc. living up to expectations
The Chairman of the Board of Directors highlighted that the credit card is a privilege banking product not offered by all banks presently operating in Ghana. To venture into such a product in Ghana, he said, is a plus to Republic Bank and also shows that the bank is living up to the standard as an international brand in Ghana.
“There are enormous potentials that technological development can bring to transform the financial services industry in a manner that will bring sufficient gains to businesses and consumers alike. I am particularly happy about the introduction of the VISA Business Credit Card.
“As a business owner myself, I understand the importance of liquidity challenges and the importance of business credit cards. This card is indeed a business-oriented business solution credit product as my Managing Director has already said to us all. I therefore, encourage the management and staff to take this product to the door step of every business and entrepreneur in Ghana”.
Charles William Zwennes
The Fantastic 4 Cards
In a grand ceremony held at the Polo Courts in Accra to launch the new cards, Jessica Benson-Gyan, in a presentation, explained that the Republic Bank VISA credit card is a revolving credit facility that has been loaded onto a card with up to 45 days’ interest free period.
The card can be used for purchases, and pay for bills or services online and on POS devises. It can also be used on ATM’s globally to make cash withdrawals with a validity period of 3 years which can be renewed upon expiry.
Speaking on the specific cards, Benson-Gyan explained that the VISA Business Credit Card offers the most suitable solutions for employees who are authorized to make reimbursable expenditures on behalf of an institution. These Cards have a limit of up to GH¢200,000 and can also be used by SME’s with a minimum monthly account turnover of GH¢500,000.
Meanwhile, the VISA Infinite Credit Card, as the name suggests, “offers you infinite possibilities to take you everywhere in the world”, she said.
Permanent employees of organizations or companies, minimum monthly salary earners of GH¢15,000 and self-employed individuals with a minimum net worth of GH¢1,000,000 are qualified to use this card. The card limit is up to GH¢150,000 and “holders can spend today and pay later”.
The Adeshie VISA Credit Card has a limit of GH¢100,000 and can be owned by permanent employees of organizations and people earning a minimum monthly net salary of GH¢5,000.00. Non-salaried customers having investments with the Bank are also qualified to hold this card.
Furthermore, she disclosed that the VISA Classic Credit Card has a card limit of GH¢10,000 and enables quick access to funds to meet every day needs and many more benefits.
The launch, held in Accra, was attended by the banking industry’s regulator- the Bank of Ghana, industry players, the Managing Director of the Bank, the Board of Directors, other managers and staff as well as customers and the media.
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