in May to improve its weak corporate governance and lack of internal controls. But it appears the bank would have to come up with innovative ideas to challenge the growing competition and maintain its number of active accounts.
“Right now Ubank has many problems that I know of is that of their cards. Once you lose your card it may take up top three months before you get a new one and also, their phone service such as the banking app is quite slow. So, I can say that it is not working for me as much as the other banks,” a mine worker says.
“It was ok because when you work at this company it is convenient because it will open up an account for you even when you don’t have funds,” adds another mine worker. “I’ve used Ubank before but I left it because I’m from the Eastern Cape. You’ll find that in some towns back home there is no Ubank and you end up travelling long distances to get to a town that has one to withdraw money,” complains a mine worker.
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