Diamond Bank Supports Educational Development With ‘Bank In a Box’

Financial institution, Diamond Bank has just perfected another move at aiding educational development.

The bank unveiled this concept as ‘Banking In a Box’

Here is the report as made available to societynowng.com

‘In keeping with its promise to support education, Diamond Bank has launched a school banking proposition to cater for the financial needs of all school levels from crèche, primary to secondary institutions.

‘The proposition, called Banking-in-a-Box, is

aimed at providing a solution to the needs of various stakeholders within the school value chain, which includes Schools Students, Parents, Staff and Proprietors.

According to the Head of Corporate Communication of the Bank, Mrs. Ayona Trimnell, the initiative comprises many components that will be released in phases.

‘The components, she further revealed includes School Fees Loans for parents, low cost transactional and collections solution and Current Account for schools.

”Diamond Bank feels strongly that if your Bank does not support your education, then you need a new bank. At Diamond , we put action to our promises and our Banking -in -a- Box initiative is our way of supporting education in Nigeria, ”She said.

Part of the product offerings in the new proposition is The Diamond School Xpress Account (DSXA), a zero COT Current Account that allows schools carry out their business transactions at an affordable fixed fee per term irrespective of volume of transactions.

‘The account can also be used for collection of fees from parents or salary account for staff.

Mrs. Trimnell listed benefits of running the DSXA to include free cheque books for the Schools, free online banking, zero COT charges, access to loans for the schools, access to school fees loans for parents, among other benefits.
On what qualifies parents to access the school fee loans, Mrs. Trimnell explained that their children/wards must attend a school that banks or is willing to bank with Diamond Bank, they must have or be willing to open a current account with the bank and they must have a verifiable source of income either salaried or self-employed with evidence of proof of income.

‘It will be recalled that Diamond Bank recently launched a brand positioning campaign titled ”You need a new Bank,” in which it asserts that customers should not be satisfied with below average services of their current banks, but should switch to the bank that gives them the right support.’