Union Bank is one of the largest banks in the country that serves Small and Medium Enterprises (SMEs) as well as large organizations. This bank was rated the 14th largest bank in Africa has about $4.1bn in total assets and over $850bn in shareholders’ equity as of March 2018.
Brief background of the bank
The bank’s history can be traced as far back as the 1830s, making it one of the oldest banks in Nigeria. This is mainly why you may encounter people who tend to shy away from this bank, having the mindset that it is an ‘old people’ bank.
The bank maintains a two-tier board structure. A management board and a supervisory board. It wholly owns two bank subsidiaries, Union Bank UK and UBN Property Company Limited.
After 1993, the bank acquired the former Universal Trust Bank Plc and Broad Bank Limited and equally absorbed one of its former subsidiaries, Union Merchant Bank Limited.
Even though the youths of towards shy away from having any affiliation with this bank, it has secured loyalty from its customers due to its prompt delivery of information and other related services. Among these services includes the delivery of debit
alert messages to their customers’ phone lines whenever a withdrawal or payment is made on their account.
Why should I know Union Bank’s Debit Alert Format?
A debit alert format is the pattern of the debit alert, showing the transaction details and description as well as the leftover balance on the account after the debit.
As a business owner or account holder in the bank, you must familiarize yourself with the format in which the
bank sends you a debit alert message. This could save you from falling into the hands of fraudsters in the long run.
You could be saved from playing into the trap of scammers or from being involved in any ongoing fraudulent activity that is perpetrated using your bank account.
How can I spot a Fake Union Bank Debit Alert?
A real Union Bank Debit alert would typically contain:
- ‘Debit’ or ‘Debit Alert’ is written as the first line of the message.
- Accurate spelling of words in the transaction details/description.
- Time and of the transaction, even down to the second it occurred.
- Bank Mobile App link.
- The reference number for the transaction.
- A hidden portion of the customer’s account number.
Also, note that fake debit alerts don’t reflect your actual balance in your account.
If you receive any Union Bank Debit alert with a very noticeable deviation from the features outlined above, likely, you have just received a fake Union Bank debit alert.
Here is a sample of what a real Union Bank Debit alert would look like:
UNION BANK
DEBIT
Acct: 091**657
Date: 16/02/2022 6:13:19 AM
Desc: USSD Bundle Purchase//09188375672//227**955/8978452661
Amt: NGN 9,500.00
Balance: 12,095.23
Whether you receive a fake debit alert or not, you are always advised to check your Mobile Bank App to confirm the authenticity of the alert you have just received.
If you are still having trouble identifying fake Union Bank Debit Alerts, do leave a comment with us