ReadNWrite | LifeStyle Choices - 4 Services that I use regularly Part 1 | by janeo42

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This post is an entry for the ReadNWrite contest.

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Introduction

As humans we all have a lifestyle, this is a core part of living your life. Your lifestyle varies based on so many factors, and it consists of products and services that we use very often.

There are diverse products and services that are being offered, we get to use them based on what they offer us and our preferences.

In the next few paragraphs, I will write about four different services which I use and I'm excited to share.

This contest entry is going to be a four part series as I talk about four of the service I use. This is the first of the four, I hope you like it.

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First Service: Bank - Ecobank

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Ecobank is a Pan-African bank that was founded in 1985. It was established first as a private sector initiative where the Federation of West African Chambers of Commerce and industry was responsible for running it.

It also had support from Economic Community of West African States, at that time most banks in West Africa and the African continent in general were dominated by foreign banks. Therefore, it was necessary to get a bank that represented West Africa.

To own a share of the Ecobank stock, you have to get through the Nigerian Stock Exchange, Ghanaian Stock Exchange, and the BRVM Stock Exchange (located in Ivory Coast). However, there are large share holders like Nedbank group with 20.7% Ecobank shares, Qatar National bank with 17.4% Ecobank shares, and Government Employees Pension Fund with 13.8% of Ecobank shares. It should be of note that these shares are publicly listed.

Another 26.6% are being owned by individual investors.

Ecobank currently operates in 36 countries around the world. Most of them are in Africa including Tanzania, Kenya, South Africa, and more. The countries outside Africa includes China, United Arab Emirates (UAE), France, and the United Kingdom.

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When did you start using this service?

I started using Ecobank banking services as far back as 2018. That time I was preparing to enter my second year in the university. In my first year, my monthly allowance was given to my guardian.

Since that time I have continued to use their banking services.

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What is special about them

One thing that is special about them is their customer's service. When you get into the banking hall, the first thing you see is the customer service point, there you can lay any complaint and if tenable, they help you to take care of it.

Another thing I like about them is their savings service where customers can save their monies with them. Through this way, you can keep your money in a savings account where you can save for the rainy days.

Along with saving your money, you also get to create an Ecobank PAC debit card. With this card you don't need to carry cash around as your card acts as the 'holder of cash'. With it you can access your cash in any ATM terminal across the Nigeria. You can also use it to pay for goods and services in shops that has a point of sale (POS) option.

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You can also shop for things online by typing the details of your card on the online platform.

Also it has a banking application which makes it easier for you to access their services online anywhere and anytime. It's application is both on Google Playstore and Apple Store. With it you can manage your account, transfer funds, pay for goods and services without having to walk into the bank.

Finally, I like their branding. From their logo design to the color that they use and how it is represented in their banking halls and business operations. It is something exceptional.

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What area should they improve?

There are some areas that Ecobank needs some improvements. One of them is network failure. This is an experience that so many users on Ecobank has experienced at one time. This issue comes in two folds.

One is network failure experienced in the banking hall. Sometimes when I go to withdraw money, check my balance, or try to perform certain operations, they usually have network failure and this can be very frustrating.

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The other way is through the use of your saving cards on ATM machines and POS terminals. Without having to go to the bank you can experience network failure while trying to use my these services. I will like them to improve in this area.

Another area I think they can improve is the update of BVN. When I went to a branch to try to change the phone number that I registered with on my BVN, they said I should go to the branch I registered my BVN. When I heard this I was shocked because I needed to go to another state to do this.

I believe that they can change this process by authorizing key branches in every state to assume the responsibility of changing some details of BVN registration. When successfully completed, they can communicate with the branch where you registered your BVN to notify them.

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Conclusion

Ecobank is a decent bank that has provided a lot of banking services to it's customers. I have used some of them and become accustomed to them.

Sometimes, they can have shitty service due to poor network or lack of network which can be very frustrating. Generally, they are an ok bank.