This is a major revolution in the banking sector in Cameroon and Central Africa. Afriland First Bank gives “Carte blanche” to its customers for credit. “For your credit needs, First Bank is innovating and offering you the possibility of having cash advances 24 hours a day over 4 years, renewable, without contacting your manager,” indicates the bank. This is the very first credit card in Cameroon and Central Africa, specifies the bank.
According to Afriland First Bank, this card is a payment instrument coupled with credit support. In short, it allows the holder to make payments like a traditional debit card on the basis of credit authorization from the card issuer.
The banche card refers to a reading of initiative, we learn, it grants full powers to its holder and frees them from the constraints linked to requests for advances or overruns.
According to Afriland First Bank, this card will solve a problem which until now seemed insoluble, at least in the Central African sub-region. “Customers (employees) are generally forced to queue at the bank to request cash advances to deal with certain everyday problems. This instrument gives those who have the ability to have access to a cash advance available 24 hours a day.[de manière autonome] ».
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According to the bank, the customer who holds his credit card uses it whenever he needs it (up to a ceiling contractually agreed with the bank) like a standard debit card. He therefore uses it for withdrawals from ATMs, merchant payments on electronic payment terminals or even E-Commerce (online).
On a date agreed with the bank (the 25th for civil servants and the 5th for other employees), we learn, the entire credit consumed is debited from its reimbursement account, including interest. The reimbursement account is a direct debit account for the client’s salary.
The customer can make multiple withdrawals until their ceiling is saturated, we learn. When the credit is repaid, the same amount is made available the next day for new use (revolving), she continues.
The customer has the possibility of making early repayments. In this case he uses the Afriland First Bank remote banking applications (Sara and E First) to carry out a transfer from his domiciliation account to the credit card account. Once this transfer is executed, the credit card account is leveled up to the amount transferred. Early repayment can also be made by deposit into account.
Benefits
The customer who has his carte blanche benefits from a certain number of advantages. In fact, he can make cash advances at the desired time, indicates the bank, without calling on his manager. Once the card is subscribed, the drawing facility is available for four years [avons-nous déjà dit], as long as the customer fulfills his contractual obligations. In addition, the customer, it is said, only pays for what he has consumed and the associated interest charge and the customer’s privacy is respected because he does not need to tell the manager about his troubles. Finally, the bank invokes flexibility on the amounts granted.
