Hello, Today we’ll be discussing On How to upgrade Union Bank account easily (Online & Offline).
Union Bank is one of the long-standing commercial banks in Nigeria with over 300 branches nationwide. Upgrading your regular Union Bank savings account unlocks additional benefits and improved services.
Benefits of Upgrading Your Union Bank Account
Some key reasons to upgrade your regular Union Bank account include:
- Higher interest payment on account balances
- Discount on certain banking transactions and charges
- Free debit card with loyalty reward programs
- Special rates on personal, education and salary overdraft
- Dedicated relationship manager and priority services
- Eligibility for bigger and longer-term loans
Tips for Upgrading Your Account
Follow these useful tips when upgrading your Union Bank account:
- Visit your home branch for faster offline upgrade experience
- Leverage online banking platform for convenience
- Choose account type based on usage – savings, current, salary etc.
- Have valid ID card, passport photo and minimum balance ready
- Obtain account upgrade confirmation message within 24 hours
How to Upgrade Union Bank Account Offline
To upgrade your account at a Union Bank branch, take these steps:
- Visit any Union Bank branch near you
- Request to upgrade your savings account to premium type
- Fill and submit account upgrade form with necessary attachments
- Make mandatory opening deposit to activate new account
- Receive upgraded account package within 1-3 working days
Documents Required for Offline Upgrade
- Valid means of ID (national ID, driver’s license, voters card etc.)
- 2 passport photographs
- Proof of residence (utility bills, rent agreement etc.)
- TIN, employment details (for salary accounts)
How to Upgrade Union Bank Account Online
To upgrade your savings account through online banking, take these steps:
- Login to UnionMobile app or online banking
- Locate and select ‘Upgrade My Account’ option
- Choose the premium account type you wish to upgrade to
- Review terms, fill details and submit application
- Fund account immediately with minimum opening balance
- Upgraded account is activated within 24 hours
- Notification message sent to registered contact
Information Required for Online Upgrade
- Account number
- BVN
- Valid means of ID
- Email address
- Phone number
- Minimum balance amount etc.
FAQs on How to upgrade Union Bank account easily (Online & Offline)
1. Which Union Bank account has the easiest upgrade process?
Union Bank Premium Savings Account has the simplest upgrade requirements making it the easiest to upgrade to from a regular savings account.
2. Can I operate both old and new accounts after upgrade?
Yes, you can choose to keep your old regular savings account running alongside the newly upgraded premium account.
3. Is there any upgrade fee charged?
No, Union Bank does not currently charge any processing fee for upgrading regular savings account to premium variants.
4. What documents do students need to upgrade account?
Students need valid school ID, JAMB letter, BVN, passport photo and applicable minimum balance amount to upgrade account.
5. Do I need to change my ATM card after upgrade?
No, your existing debit card will work normally after upgrade. However, request for new card types now eligible based on account tier.
6. How many days does account upgrade take to complete?
Union Bank account upgrade takes between 1-3 working days for both offline and online applications to be fully processed.
7. Can I apply for overdraft after upgrading account?
Yes, upgrading account allows access to special overdraft and quick loan products at discounted interest rates.
8. How much balance is needed to open current account?
Minimum opening balance required for Union Bank current account upon upgrade is N50,000 for individuals.
9. Must I visit branch to upgrade salary account type?
No Union Bank allows salary account holders initiate upgrade directly via mobile or internet banking without visiting branch.
10. Which premium account types can I upgrade to?
The major account types you can upgrade to are: Target Savings, Premium Current,Salary Classic,Corp Classic, Sole Classic accounts etc.
11. Can I reverse upgrade after initial change?
Yes, you can downgrade back to your former regular savings account within 6 months without extra charges.
12. Is there a mobile app for upgrading account?
Yes, apart from Internet Banking you can also easily upgrade your Union Bank account via their UnionMobile app.
13. How much balance do I need after upgrade?
Minimum post-upgrade balance is N2,000 for savings, N50,000 for current accounts. Failure to fund leads to reversal.
14. Can I upgrade for my kids?
Yes – parents/guardians can upgrade existing minor savings account to premium types by visiting any Union bank branch nationwide.
15. What are the criteria to qualify for upgrade?
To qualify, you must be an existing savings account holder. Also have valid ID card, BVN, passport photograph and ability to make special deposits.
Conclusion
Upgrading Union Bank account enables preferential access to services, interest on savings, flexible borrowing etc. Union Bank offers reliable online and offline upgrade channels. Walk into any branch or leverage self-service platforms to initiate seamless upgrade in 24 hours. Contact relationship manager for assistance if needed during or after Union Bank account upgrade.
After reading this article now you know How to upgrade Union Bank account easily (Online & Offline).
