The United Bank of Africa, UBA, has placed a ban on the use of its ATM Cards for subscription to betting, porn, Dating and escort websites.
The financial institution made this known in a mail sent to its customers titled “we want you to transact safely”.
The bank while disclosing the latest development stated that its customers can no longer use their ATM cards to fund some lifestyles including the purchase of jewelries.
The mail sent to customers on Thursday evening noted that the UBA debit and prepaid cards are now restricted from carrying out such transactions.
The mail reads: “We wish to inform all cardholders that we have placed restrictions on the Bank’s debit and prepaid cards from carrying out transactions with merchants that are transacting on the following business categories; -Jewellry -Pornography -Dating and Escort Services -Betting (including lottery tickets, casino gaming chips, off-track betting and wagers)
“This has become necessary with the increased need to protect our customers and the institution from fraud, litigation and reputational damages.”