How Absa Prestige Banking Is Elevating Your Financial Journey

The past few decades have witnessed a rise of the middle class in Kenya, reshaping the country’s economic landscape. Over the years, their financial needs have evolved, and many have found that conventional banking no longer matches the complexities of their financial aspirations. And this is where the banking industry has been called to step up to serve this demographic better.

In the banking industry, assessing the customer’s needs is a crucial part of the service delivery process and can make or break a bank’s success. Being aware of the diverse dynamics of consumer living standards is crucial to meeting each customer’s needs. Banks need to understand the pivotal stages of a customer’s financial journey, acknowledging when they are building wealth and securing their future. Banks need to step in not just as service providers but as strategic partners in wealth creation and preservation.

In February this year, Absa Bank launched its refreshed Prestige Banking proposition, which focuses on delivering real value in financial planning and investment opportunities to empower affluent customers with the right financial tools, protection, and guidance to navigate their ambitions.

This proposition targets individuals within consumer business who are growing in life and are going through key life changes, such as buying their first car, a house, building families, or making their first savings and investments, and they aspire to secure their lives and grow into wealth.

Account holders are privileged to enjoy a wide range of benefits:

Insurance Benefits

The Prestige Account Membership offers comprehensive insurance benefits, including gadget insurance of up to KES 80,000, home contents insurance of up to KES 200,000, and retrenchment salary cover of up to KES 150,000 for three months. In cases of death and disability, the account holder has access to an insurance cover of up to KES 150,000 to protect the future of their loved ones. Additional benefits include enhanced security with up to KES 50,000 cover for digital forced withdrawals and discounted motor and medical policies.

Banking Benefits

Members enjoy enhanced banking privileges whereby international transactions are more efficient because they have a free foreign exchange account in any major currency. Additionally, they can earn monthly rewards on their current balances and transactions with a free Twin Plus Account. Moreover, members have the privilege and convenience of having a prestige platinum debit card in 8 major currencies. They also have access to more favourable terms on lending facilities, including interest rates on all types of loans, and enjoy unsecured loan limits of up to KES 5 million. Members who maintain a balance of over KES 3.5 million also enjoy a 100% waiver of the account maintenance fee.

Service Benefits

Additionally, members receive expert guidance due to their access to financial advisors, enjoy prioritised access and tailored service experience at all Absa branches, free ATM withdrawals and counter services, and get free SMS alerts to stay informed. Furthermore, they are provided with a free cheque book and a free debit card for their daily transactions and enjoy free processing of their monthly salaries. Members can expand their networks with exclusive invitations to events connected to Absa, gaining access to other entrepreneurs, markets, and mentorship programs.

The Prestige Banking Account is designed to offer members exceptional services, ensuring they have financial flexibility and peace of mind. Clients benefit from a comprehensive suite of services across wealth management, lending, international banking, insurance, and everyday banking needs. It provides a platform to help people realise their most meaningful life ambitions.

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