A finance firm, Branch, yesterday said it had begun offering its customers unlimited free money transfers to any bank account and 20 per cent per annum investment returns.
It said the new offerings complement its instant loans up to N500,000, free bill pay, airtime top ups, and other services in the Branch app.
Branch, licensed by the Central Bank of Nigeria (CBN), in a statement challenged its customers to find a bank offer better than its own.
“Finding the best deal when it comes to your money can be overwhelming. We have made it simple. Compare our 20 per cent returns and free money transfers to see how Branch is better than your bank,” said Branch Managing Director Dayo Ademola.
According to him, the unlimited free transfers “have no hidden fees or restrictions. Most financial apps today charge a transfer fee or cap the number of free transfers.
“Unlike other investment platforms where the money is locked for a fixed period, our customers can withdraw their investments after 24 hours. Branch’s 20 per cent per annum return is paid weekly.
“Investments through the Branch app are channelled into low-risk financial instruments with capital preservation as the ultimate goal. Branch also forfeits its commissions to customers in order to provide returns that are amongst Nigeria’s highest.
“To further encourage new customer trials, Branch is offering a limited time additional incentive: for each deposit of N300 or more using the wallet, customers receive a N50 bonus – up to N6,000 in bonuses per year.”
The statement added that Branch is authorised by the CBN to provide services such as credit and fund management.
“Over 23 million people have installed Branch’s app with a 4.4 star rating by over 300,000 reviews on Google Play. Branch is backed by some of the world’s biggest investors, including Andreessen Horowitz (early backers of Facebook & Twitter) and Visa. Since 2018, Branch has provided over 3 million loans to Nigerians and is now expanding to offer 20% investments and free money transfers.