You know how we all download and set up our bank apps once we open a bank account, and so begins the funds transfers, airtime buying, and even bill payments, and it looks like that’s all the bank app has to offer, well that’s not the case with us at the Alternative bank.
Banking today is more than just moving money around. With fraud cases on the rise in Nigeria, convenience alone is not enough, you need security, control, and smarter tools to manage your finances. That’s where the Alt Bank App comes in. Yes, we have features like the biometrics log in, two-factor authentication (2FA) account security, transaction limits setting, the request and activate or block debit cards feature, create a new account from scratch feature, seamless bills payments, and even rewards through the refer-to-earn feature. However, we have some other unique feature that make your experience with The Alternative bank and the Alt Bank app even more wholesome. A few of them have been listed below.
1. Billings Account
If you have an account with any bank in Nigeria, you’ve probably had issues with charges and levies being taken out of your account. The odd ten naira or twenty-five naira that you can’t seem to keep track of. Well, because we practice ethical banking at Alt Bank, we do things a bit differently. Your billings account is a transparency handshake between us and you. Instead of random charges you can’t track throughout the month, what we charge is a total, one-time payment at the end of each month that is transparent and properly communicated. NIBSS charges on transactions and such charges are properly tracked and summed up in what we call the Billing account which you can see on your Alt Bank app. The transparent total in your billings account at the end of each month is the sum of all transaction charges and that’s what we charge you. This feature affords you transparency and tracking.
2. Gold Token Earnings
Imagine getting something back every time you send out money to other banks from your account. Our gold token earnings is a feature that gives you 25micrograms on every inter-bank transfer. This is domiciled in your Alt Bank app and is redeemable into your Alt bank account at any time, at the current market rate for Gold. Our goal with this is to give you something for every transaction you make with us.
3. Free Insurance
You know that unexpected moment when your phone falls and the next thing you know, you need to change the device screen or get a new mobile phone? Now imagine that you already have insurance that covers that, and you didn’t have to spend anything extra to get this insurance. When you onboard on the Alt Bank app, you get points called ”Takaful” for every activity done on the app, and your total points gives you access to insurance when you reach specific milestone. When you redeem these points, you receive details in your email on how to access your insurance. Cool, right?
4. Alt Community
From the moment you join the bank and onboard on the Alt Bank app, you become a part of an Alt Community, each community has different benefits assigned to it, and you can graduate to the next community as you carry out transactions on the app. You can view your current Alt Community and its benefits on your app. For instance, spending an average of less than ten thousand naira monthly makes you a part of the Coral community and gives you an extra 5% on your annual referral income, and spending greater than or equals to ten thousand naira monthly makes you a part of the Cobalt community and gives you an extra 10% on referral bonus, and an extra 5% on referral income. We have up to seven communities with growing benefits for each community ranging from percentage increase on bonuses, to discounts and free deliveries when you shop on AltMall, credit offers, and so much more.
5. Panic Password
We’ve all heard stories of people being attacked on the road or in a vehicle and being held violently and forced to open their bank app to transfer all their funds to the assailants, and we’ve all prayed that this will never be us. As your wealth partner, we are with you in that prayer, but we have also created a feature on the Alt Bank app that keeps your funds almost-completely safe in such a situation. The panic password is different from your regular password, and can be set up in your settings on the Alt Bank app. If someone gets a hold of an Alt Bank user’s phone and forces them to open it for nefarious purposes, only 10% of your total balance is visible and available in that moment. If for instance, the person has ₦100,000 in their account, the balance will only show ₦10,000, and only the amount shown can be sent. The bulk of your money stays safe and the assailant will have no clue because when you enter your panic password, only you know that it’s not your regular password, you enter it into the same space for your regular password and it opens the app as usual, the only difference is the balance visible and accessible. Whenever you sign in with your regular password, you can see and access your full funds again. This is an extra measure to protect your funds.
6. Incoming Transaction feature
When someone sends money to you and it is yet to drop in your account, you get to see the exact status and what is going on with the funds. This ensures no one can “post” you with fake transfer talks and excuses like “I’ve sent it oo, maybe it’s bank network”. You can tell if this is truly the case with the incoming transaction feature.
7. Transaction Status Bar
This is very similar to the incoming transaction feature; the difference is that this tracks the status of outbound transactions, from you to others. This means that people can no longer deny when they have received the money you sent, and you don’t need to go into a banking hall to confirm. Right there on your Alt Bank app, you can tell what the status of the transaction is.
These features are there because we care, because we don’t just say ethical banking, we practice it, and because we want to continually make your banking experience with us as wholesome as possible; safe, rewarding, and convenient. So, if you haven’t explored or used these features on your Alt Bank app, you should start today. If you already bank with us but have not onboarded on the app, you can download the app on Google Play store or the Apple App store or here, and if you aren’t banking with us yet, the question is “why?”
We are the bank you’ve been looking for; you can begin your journey on altbank.ng, you are welcome to a wholesome partnership.
