UBA Bureau De Change: What you must know

A Bureau De Change (BDC) is defined by the Central Bank of Nigeria (CBN) manual as a retail foreign exchange dealer carrying on the business of Personal Travel Allowance (PTA), Business Travel Allowance (BTA), medical and school fees, and also to carrying on inward and outward transfer. So, a BDC is a licensed outfit, normally by the CBN. So therefore we will be looking at features and benefit of UBA Bureau De Change in accordance with the CBN rule.

All over the world there are BDC operators and they play different roles. For instance, the primary role of BDCs globally, according to the Association of Bureau De Change Operators of Nigeria (ABCON), is to ensure forex availability to the critical retail sector of the forex market in terms of supply, to bridge the gap between the official and the parallel market exchange rate. The operators said they have even gone beyond ensuring rate convergence and providing liquidity, to the achievement of the major policy of the CBN, which is exchange rate stability.

UBA bureau de change offers the following services

Personal Travel Allowance (PTA)/Business Travel Allowance (BTA), Mortgage, Monthly Payments, School Fees, Medical Bills Payments, Credit Card Payments, Utility Bill Payments, Life Insurance Premium Payments.

Features

  • ·         Transaction Limit of $5,000 per transaction for BTA and $4,000 per transaction for PTA.
  • ·         Available in only three currencies, namely USD, GBP, & EURO.
  • ·         All products are subject to a maximum of $5000 per transaction and restricted to eligible transactions only.

Benefits

  • ·         Availability- it can be enjoyed by both non-account-holders and account holders of the bank.
  • ·         Affordable – the rates are very competitive.
  • ·         Security – services are rendered from selected and very secured offices

Target Market

  • ·         Business Men & Women
  • ·         Traders
  • ·         Importers
  • ·         Frequent Travelers
  • ·         PTA: Valid International Passport, Valid Return Ticket & Valid Visa
  • ·         BTA: SAME AS ABOVE Including a Corporate Account in UBA