ABC Bank reaches out to UK Diaspora with GBP Debit card- 14th August 2015

ABC Bank has become the first Kenyan bank to introduce a British Pound (GBP) Debit MasterCard.

The new card is suitable for Diaspora customers in the UK. Kenyan business and leisure travelers to the UK can also deposit GBP in their ABC Bank accounts and access it while in the UK, thereby avoiding exchange rate losses. The card is also useful for UK expatriates. It provides them easy and convenient access to their funds held in their ABC Bank accounts. It also allows them to withdraw cash at MasterCard ATMs, pay for goods and services at point of sale terminals in the UK, and over the internet. Additionally, the card is EMV enabled, making it a secure substitute for cash.

The introduction of this card is part of the bank’s strategy to bolster its strategy for Diaspora customer acquisition. ABC Bank’s Head of Diaspora Banking, David Mburu said the bank entered the UK market last year and has sustained a marketing campaign to grow its presence there as recognition of the growth of the segment.

Mburu added: “Convenience to the customer is always the starting point for us; it forms an integral part of our consumer strategy as a bank.”

The launch of the GBP debit card comes at a time when there is a growing number of local entrepreneurs importing and exporting commodities between Kenya and the UK and addresses the challenge of carrying cash while traveling.

“If you have a business in Kenya and you need GBP in UK then this is your solution. You can deposit your GBP in Kenya, and shop with the GBP card in UK. It doesn’t get better than that,” noted ABC Bank General Manager, Peter Kinyanjui.

“ABC Bank recognizes the important role Kenyans in Diaspora are playing in economic development here at home, and we are giving them value added services to catalyze and facilitate that process. With the benefit of convenient access, our Diaspora customers can now bank here the same way they would in the UK,” added Kinyanjui.

Last year, the bank launched a US Dollar debit card and a money transfer solution that allows Kenyans in the Diaspora to transfer funds from their accounts to mobile wallets. Locally, the bank launched a four-in-one prepaid card in partnership with EMO Society. The Emo Connect card, designed for both Diaspora and local members, is a prepaid bank account card, insurance card, membership card and loyalty card, all in one.

Furthermore, the bank will soon launch a multi-currency card, which will facilitate the convenient usage of different currencies including the Dollar, Rand, Dirham and the British Pound.

In addition to offering them custom-made financial solutions, the bank also provides Diaspora customers with professional advice on investment opportunities available in Kenya and gives them the necessary financial support for investment.

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