Skye Bank plc has introduced a self-service currency exchange transfer service on its internet banking platform to allow customers transfer funds from their foreign currency account to their naira account with the bank.
In addition, the service allows customers to transfer from their foreign currency accounts to other Skye Bank account holders. Similarly, the bank has also introduced a direct international funds transfer service that enables account holders to transfer foreign exchange from their account to offset payment in any part of the world. The service is known as FX Direct.
All the transactions are performed at the bank’s prevailing exchange rate, Richard Amafonye, Skye Bank’s head of information technology, who disclosed these new self-service offerings, said, saying the service provides ease and convenience to customers if they run short on cash in local currency.
“All it takes is to choose the foreign currency account you want to transfer from, fill the amount with the naira equivalent of the amount you wish to exchange and submit,” he said.
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The currency transfer service is particularly invaluable over the weekends as customers can conveniently exchange foreign values for naira and use the naira to pay for goods and services, Amafonye said.
Still on the benefits of the service, customers now have the discretion and flexibility to hold currencies in the preferred option since they can readily remit abroad or convert to local currency for their spending convenience.
The bank hopes to build a loyal customer base through its more efficient, customer-focused and innovative offerings, he said, adding that customers can transact through any of its alternate channels.
The service is targeted at cash strapped customers in naira who have foreign currency in their Skye Bank account, and customers who wish to pay other Skye Bank account holders but do not have sufficient naira to perform the transaction.
On the security of the platform, Amafonye said protecting the financial information and privacy of customers was a top priority and with SkyeSecure – a multi-layered security system in place, the safety, integrity and confidentiality of transactions were guaranteed.
