Diamond Bank has launched a school banking proposition to cater for the financial needs of all school levels from crèche, primary to secondary institutions.
In a statement, the bank said the proposition, called Banking-in-a-Box, would provide solution to the needs of various stakeholders within the school value chain, which includes schools students, parents, staff and proprietors.
The bank's head, corporate communications, Ayona Trimnell said 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, a zero Commission on Turnover (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. She 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.
