One of the leading commercial banks in the Kingdom of Eswatini, Standard Bank has recently announced that there will be an upgrade from Instant Money (IM) to Unayo starting from 8 June, 2023. This announcement has caused an uproar from customers who are fond of IM. Who can blame them by the way as IM has been a darling to most Standard Bank customers. “Unayo is the same as mobile money and I heard they cancelling Instant. A stupid move I must say. Business people will suffer,” said one customer on one of the Facebook posts marketing Unayo.
Let me also confess that I am one of the customers who were enjoying IM to the core. I fell inlove with this product when I was still employed by the bank as a digital activator/Banker at the Nhlangano and Manzini branches.My duties included educating customers on how to send money using IM. I have rarely used my card to withdraw money as I have always preferred using IM to an extent that leaving my card at my place of abode doesn’t worry me as long as I have full access to my online or mobile banking platforms(I can send Instant Money to myself).
Despite all the glitz and glamorous benefits of using Instant Money allow me regress and focus on why we should warmly embrace Unayo despite all the reluctancy and resistance from customers. Using the little knowledge I have acquired in my over 1 year working experience at the banking institution, I am putting my money on Unayo. Here is why:
IT WILL CREATE JOB OPPORTUNITIES
In a country where unemployment is rife, there is need for more money making opportunities. Unlike other fintech companies like MTN’s Mobile Money and FNB’s e-wallet, Standard Bank’s Instant Money has been failing to generate income for ordinary vendors. As a silver lining, Unayo will give birth to entrepreneurs who will be merchants; fascilitate cash-ins and cash-outs wherever their businesses are located. What a blessing to vendors!
EASY TO WITHDRAW OR DEPOSIT
Currently, for one to be able to access Instant Money, he/she must locate a closest ATM or branch. Customers will be relieved to note that is a thing of the past. With merchants found countrywide, including in rural areas, customers will be able to deposit or withdraw their hard earned money without travelling to towns or places that have ATMs from Standard Bank! Adding icing on top of the cake is the fact that Unayo can also be withdrawn on ATMs thus spoiling us with the choice to choose our convenient platform at any given time or place.
Not only will it be easy to withdraw or deposit on Unayo accounts but it will also be easy to access it. One can currently access his/her Unayo account using the application available on Google Playstore, USSD code (*334#) or through any of the existing Standard Bank’s digital banking channels which include the smart App, online banking and mobile banking. If one channel is not working for you, you have the choice to utilise one that will give you the much desired results.
OFFERS EASY MOBILITY OF FUNDS
You will have to agree with me that having money on your Instant Money account will not help whenever you want to buy electricity or send a potion to your loved one. With Unayo, one will have full control over his/her money and decide how to use it. It is an open secret that most fintech companies allow customers to: decide how much to withdraw( make partial withdrawals); buy airtime; buy electricity; forward money to another person, to mention but a few. Standard Bank users will be delighted to know that they will experience this at long last.
CONCLUSION
“The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails,” once said William Arthur Ward. We have to adjust the sails and ensure that we utilise such a service that will uplift the economy. We can blame Standard Bank all we want for failure to consult customers on such drastic changes but truth be told, change was inevitable with the bank being a multinational corporation. Those privy to the culture of the bank will know that this move was beyond the control of the local management as it is the case in other countries where this bank operates. In Lesotho and Botswana, Unayo is taking over from instant Money. . Furthermore, the charges to withdraw will benefit the merchants who are trying to make ends meet! Why don’t you become a merchant and trust me, #ItCanBe.
Are you happy with the upgrade from Instant Money to Unayo? Let me know on the comment section!
PR Watchdog 