Home/SME/Services/Agent Banking
Agent Banking 2018-03-14T18:11:05+00:00

Agent Banking

Banking the Unbanked

Agent Banking is the provision of basic financial services (such as Account opening, Deposits, Withdrawals, Fund transfers, Bill payment, airtime, etc.) to customers by a 3rd party (Agent) on behalf of a licensed Deposit Money Bank (Wema Bank)
Wema Bank Agents are existing business owners (Provision stores, pharmacies/chemist, etc.) who use their business locations to carry out basic financial services on behalf of Wema Bank to customers.

Customers are able to carry out basic financial transactions at agent’s location, while Agents are paid commissions for transactions done by customers at their locations.

Wema Bank’s Agent Banking commenced in April 2017 with a pilot phase across all geopolitical zones in the country (Abuja, Calabar, Uyo, Asaba, Benin, Ibadan, Kaduna & Lagos), with over 250 Agents (Roaming & Fixed Agents) across the regions.

Agent banking is the provision of basic financial services such as Account Opening (Tier 1), Cash deposit, Cash withdrawal, Fund transfer, Bills payment, Airtime Recharge and other Value-Added Services to:Agent banking is the provision of basic financial services such as Account Opening (Tier 1), Cash deposit, Cash withdrawal, Fund transfer, Bills payment, Airtime Recharge and other Value-Added Services to:

  • Unbanked
  • Underbanked
  • Banked persons

These transactions are done outside conventional bank branches through 3rd party retail persons (Agents) who often use non-bank retail outlets and rely on Mobile Phones, point of sale terminals etc. to service customers on the go.

Wema Bank takes advantage of the best technology solutions available to enable customers to transact banking business at their convenience. Our permitted Agent Banking transactions include the following: Wema Bank takes advantage of the best technology solutions available to enable customers to transact banking business at their convenience. Our permitted Agent Banking transactions include the following:

  • Account opening – Tier 1 (which come with debit cards and USSD for customer’s use)
  • Cash deposits (into any Wema Bank Account)
  • Cash withdrawal
  • Bills payment
  • Funds transfer
  • BVN Linking
  • Customer Service Management

As a Retail Focus Bank, our target at Wema Bank is to reach the last mile in serving our highly esteemed customers. Hence wherever you reside or do business, our Agent Banking financial touch-points are near you to serve you without the need to visit our branch.

Customers:

  • Open accounts seamlessly via our Agent Banking without the need to visit any Bank.
  • Carry out basic financial transactions ranging from Deposits, Fund Transfers, Bill Payment, Link BVN, Lodge complaints, etc.

 

 Agents:

  • Our Agents are highly motivated and empowered to carry out basic financial services. Our Agent commissions are very competitive. Wema Bank Agents are well branded and supported to carry out basic financial services to customers. Our Agent Banking increases footfall to our Agents’ locations

Become a Wema Bank Agent:

Our Agent Recruitment process is on-going and is open to existing retail business owners with physical business locations.
To become a Wema Bank Agent, interested persons must own:

  • A Wema Savings Account
  • A data-enabled Android phone with OS Android 6.0 (minimum)
  • A verifiable physical business location.

With these items above, Agents are expected to visit the nearest Wema Bank branch to fill this form and obtain more information on becoming a Wema Bank Agent.

Want to become an Agent?

Click here
Wemabank Logo