LAGOS — Sixteen years ago when DiamondXtra was established under the auspices of defunct Diamond Bank, not many people gave it the benefit of doubt to survive beyond its first five years of existence.
Too many people did not believe it would stand the test of time to become the best and most consistent reward initiative created to encourage loyal customers of Access Bank; which has apparently become the best of its kind in the country.
Consequently, there were concerns from different quarters that the savings initiative would not continue following the merger between Access Bank and Diamond Bank on April 1 2019.
However, these doubts were immediately doused and Nigerians were pleasantly surprised to learn that the scheme was able to survive and continue to be the longest-running reward program, with Access Bank consistently improving it by making it stronger, reliable and eminently attractive to behold.
In the last fifteen year of existence, the incentive program has ignited chuckles and smiles on the faces of Nigerians by changing their stories from despair to that of hope and excitement thereby midwifing a colourful beginning for them using its draws scheduled across the country. And through this, Nigerians who had no bank accounts have been successfully onboarded into the banking system.
Launched in July 2008 by the then Diamond Bank, Diamond Xtra was created with the name “SavingsXtra” to promote savings and reward its loyal customers. However, consequent upon the Bank’s repositioning plan of the initiative in 2013, the name of the Reward Scheme was thoughtfully changed from SavingsXtra to DiamondXtra.
To qualify for the DiamondXtra Season 16 that has been made open to both new and existing customers, new customers are required to open a DiamondXtra savings account with just N5,000 by dialling *901*5# or walking into one of Access Bank branches to open the account.
The more multiples of N5,000 both new and old customers save, the higher their chances of winning at the monthly, quarterly and annual draws.
DiamondXtra is an interest-yielding hybrid account which is opened with a minimum of N5,000 and allows the deposit of both cash and third-party cheques not more than N2m. ‘Hybrid’ in the sense that it comes with a combination of both savings and current account features.
The DiamondXtra initiative prides itself on a reward milestone and distinction where a total of 26,896 customers have been rewarded with more than N6.51 billion paid to winners who are currently enjoying the new status accruing to them by the saving scheme.
Interestingly, the total amount to be given out this season is N200m with a Star Prize of 3 brand-new SUVs for 3 lucky DiamondXtra Customers (1 per quarter) and 15,768 customers would emerge as winners this season 16.
For the sake of ease and robust participation, the draws for the reward scheme; which happens to be a special interest-yielding hybrid account that allows deposit of both cash and third-party cheques, will also be done across the six geo-political zones in Nigeria.
The reward categories are as follows: A Star Prize of 3 brand-new SUVs for 3 lucky DiamondXtra Customers, Monthly draws, Loyalty rewards, Regional Draws, Onsite Draws, Free Digital Marketing Training and Digital Cluster Draws. There are regulators (National Lottery Regulatory Commission and Federal Competition and Consumer Protection Commission) in place who monitor the draws to ensure transparency and smooth sailing for all participants.
Qualification
To stand a chance for the reward you would open a DiamondXtra account with a minimum balance of N5,000. It is however instructive to note that multiples of N5,000 give customers more chances to win.
Speaking at the unveiling in Alaba International Market, Lagos, Mr Bolarinwa Animashaun, Regional Sales Director, Lagos, said the new season will bring more goodies to the customers as the bank has considered the interest of the customers with the new improvement they now bring on board.
Animashaun said: “In the last fifteen years, we have been able to ensure customer loyalty, reward committed customers over time and show that we are a bank that is ready to empower people and partner with people.
“If I take it into specific figures, we have rewarded 26,696 customers and we’ve given a total sum of N6.5 billion over the period.
“In Season 16, it is interesting, because first of all, we have seen a lot of opportunities to expand into digital opportunities and this time around in this season, we will be rewarding 15,786 customers, and 10,000 of them will be digitally rewarded.
“This is almost half of what we have done over the last 15 years. So that is what makes it special. We have taken it into the possibilities of how technology can expand our business and also reward customers”.
Daily Independent gathered that the draws for the new season are going to be the same as the previous ones as they will be in different geographies.
“So, we start from the monthly draws, quarterly draws and the annual draws. What makes it extremely interesting this year is that we will be rewarded with up to N200 million in prizes and we have added some very interesting gifts. We will be given out three SUVs as part of the N200 million price for this year”, Animashaun added.
Speaking at the unveiling at Access Bank, New Court Road, Ibadan, Regional Sales Director, South-West region, Bolaji Aboderin said the new season will bring more goodies to the customers as the bank has taken their interest at heart.
“We are here today for the 16th season of the DiamondXtra draw. This is just a scheme in place whereby the bank is trying to give back to our loyal customers. It is a form of saying thank you, it’s a reward system to encourage a saving culture.
“We enlighten them on the values, essence and advantages of savings. When you save, it gives so much advantage. We’re trying to inculcate that saving culture. Some of our customers are buying into it and it’s a mutual relationship so we use this initiative to give back to society. Our customers have shown so much loyalty”.
Chioma Okoli, Deputy Managing Director, noted that Access Bank remains committed to rewarding its customers for their patronage and loyalty. She also stressed that DiamondXtra is the best banking product in the country at the moment.
She said: “We want every Nigerian to move to the DiamondXtra initiative so that they can partake in the goodies which the product brings. The only way companies remain profitable is by creating value so as long as we keep doing this, our customer base will increase and this initiative will not affect our bottom line”.
On-site draws
One of the newest additions to the saving scheme was the on-site promo that customers of the bank who attended the launch win N20,000, N50,000, N100,000 and a grand prize of N200,00.
At the unveiling in Alaba, 48 customers who have DiamondXtra accounts and were on ground at the unveiling won prizes ranging from N20,000 to N200,000.
A careful breakdown shows 40 customers won N20,000 each, five customers won N50,000, two customers won N100,000, while a customer walked home with N200,000.
Among the winners of the N20,000 prize was Mr Victor Edobor. According to Mr Edobor, he opened the DiamondXtra accounts 24 hours before the draws.
One of the two winners of the N100,000 prize, Mrs Maureen Nneka Oforka, said she was surprised to have won at the well-attended event as that was her first time winning any prize in her entire life.
She said, “I have never won any prize in my life. This is my first. I came here reluctantly and thank God, I am here and I am a winner of N100,000 which has already been paid into my account.
The grand prize winner of N200,000, Mr. Emeka Ezikeugo, a trader in Alaba, said. “I will forever be grateful to Access Bank for the prize as I was not expecting it. I thank the bank for showing leadership among its peers”.
At the Ibadan launch, the grand prize winner of N200,000, Nurudeen Bayo Razak, expressed excitement about winning the cash prize and extolled the efforts of Access Bank in giving back to its customers.
He said: “God bless Access Bank for the initiative. I am so happy today. I’ll tell my colleagues and friends to open Access accounts.” One of the winners, Ajayi Fadeke, appreciated Access Bank for the reward saying, ” I never expected it. It’s amazing, being gifted cash at this time.
How to participate
The promo is aimed at rewarding loyal customers for choosing digital channels, giving them the opportunity to win cash prizes for performing transactions daily using the Access Bank USSD code *901*5# or the Accessmore App.
What an existing customer needs to do to benefit from the promo is to increase their DiamondXtra account balance with a minimum of N5,000 every month. On the other hand, new customers are expected to open a DiamondXtra account with a minimum of N5,000 and start growing their balances.
Every N5,000 in the DiamondXtra account gives the customer an extra ticket in the draws. This implies that the more multiples of N5,000, a customer has in his or her account, the higher their chance of winning.
DiamondXtra scheme has stood the test of time defying storms that pulled down similar initiatives in the Nigerian banking industry. It has waxed stronger —- showing perceptible indications of trust, transparency and consistency.
The fact that it has rewarded and empowered a total of 26,896 customers with more than N6. 51Bn in the last fifteen years remains an eloquent testimony to its firmness, reward capacity and continuity.
This year —- being its sixteenth year, it is unmasking new reward packages and goodies to further strengthen and add to the existing rewards customers have been getting in the past fifteen years. Indeed, what a sterling example of how to reward loyal customers by Access Bank.
