Standard bank, parent company of Stanbic Ghana has introduced a new product dubbed the ‘Heartland current account’ which allows Ghanaians as well as Africans living in the UK and wanting to build some wealth there to do that.
The account helps African citizens in the United Kingdom access many banking products that can be used in Kenya, Ghana and Nigeria.
Apart from standard remittance services, the account allows users based in the UK to open a full suite of banking products ranging from a current account to a home loan, which can either be held in local or foreign currencies.
The current and savings account can be used by family in the East and West African countries or by account holders when they are back in the country.
This is the first full service offering that can be opened and managed from a foreign country in these three Standard Bank markets.
The Head of Heartland Banking, Shalen Moodley said Standard Bank will like to help non-resident Africans manage their finances while accumulating assets and building wealth in their home countries.
“Standard Bank is well-placed to do this given that it has the largest footprint on the continent with a presence in 18 countries, robust channel capabilities, innovative products and an in-depth knowledge of the needs of Diaspora customers.”
He added that “given recent money transfer trends, there is strong evidence to show that Africans living abroad have the need and willingness to invest in their home economies, and eventually return home. Standard Bank offers a targeted offering that meets these needs.”
Customers who already have UK-based bank accounts can transfer money into their Standard Bank Heartland current accounts by simply adding the account as a beneficiary on internet banking.
Through the Heartland savings account Diaspora residents can now also save towards a home, an education, a holiday, a sabbatical in their home country, or merely to diversify their savings portfolio by part taking in the Africa growth story.
By: Vivian Kai Mensah/citifmonline.com/Ghana