UBA Sharp-Sharp Account – This is a TIER 1 Low KYC savings account under the Bank of Sierra Leone guideline designed to encourage the un-banked and the underbanked to have bank account in line with the Financial Inclusion strategic intent of the Central Bank.
KYC TYPE
This type of account is opened and operated on LOW KYC basis with the following minimal documentation requirement: 1. Completed account opening forms
2. Internal Due Diligence Form
3. Two Passport photographs
Target Market
• The Un-banked and the Under banked. i.e. Artisans
• Students of tertiary institutions
• Farmers
• Traders
• Motorcyclist
• Junior Civil Servants
• Bus drivers
• Unemployed Individuals
• Labourers/Field workers
• Fishermen
Rural dwellers and communities where banking is still alien
Benefits
• Access to internet and mobile banking
• Access to debit card (for ATM and POS transactions)-restricted to local use
• Attractive interest rate. • Can be linked to a bank account or mobile money account in the name of the same customer
Features
• Minimum Initial Deposit of SLL 10,000
• SLL 30,000 operating balance
• Maximum operating balance of SLL 2,500,000 otherwise account should be converted to Regular Savings Account.
• Daily and Monthly withdrawal limit of SLL 500,000 and SLL 2,500,000 respectively
• Allows funds transfer within Sierra Leone
• No Independent verification of customer information required
• May be opened by agents without validation by financial institution
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