How to apply for a Union Bank Pos machine for free
Unlike the fintech startup company that sells/leases POS to agents who want to venture into the agency banking business also called the POS business. Union Bank, a commercial bank also wants to expand its reach to rural and undeveloped areas in Nigeria.
Here are the steps to follow to get the Union Bank POS machine
To get their POS, Walk into any Union Bank branches and request for the POS terminal. You will be asked to pay for the insurance of 1850 Naira. After which you will need to download two of their app the Union Direct app for the POS and the Union app. The Union Direct will be funded with 20,000 Naira which will be used for cash deposits for customers.
The more you use the Union Direct app, the more the chances of you getting the pos increase. After which you will be called directly from the bank to come and fill out some forms before getting the pos.
Union Bank Pos Charges and Commission
Unlike the FinTech POS machine where you ask the customers if they are to be charged from their account or from the cash, all pos transaction charges are being deducted from the customer’s bank account and the commission is being shared 50/50. an example is when you carry out a withdrawal transaction of 20k, the sum of 20,200 will be deducted from the customer’s account and at the end of the month the commission is being paid into your account, unlike Opay Baxi and Moniepoint where you get your commission instantly
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