FirstCurrent Plus

First Current Plus is a current account that gives you the opportunity to manage your funds without paying transaction charges such as Commission on Turnover (COT) monthly, having maintained a minimum operating balance on your account.


  • Minimum opening/operating balance of N500,000 for Individual customers, N5, 000,000 for corporate Customers and N5,000,000.00 for corporates
  • Free issuance of initial cheque book
  • Maximum of 5 withdrawals in a month via cheque/Letter of Instruction; where withdrawals exceed 5 times in a month, system applies default COT at the prevailing rate per mille on the total withdrawals for that month.
  • Internet & mobile banking, debit card issuance, SMS and e-mail alerts
  • Withdrawals limit– 5 times inclusive of alternate channels.



  • Zero COT charges
  • Initial cheque book is FREE
  • No restrictions on withdrawals via ATM, POS and Internet Banking, etc.

Who can apply?

  • If you are above 18 years
  • Have a valid means of identification alongside required documents (see below)


Required Documents

  • Duly completed Application Form
  • Valid means of identification (Drivers License, National ID Card or International Passport)
  • Valid proof of address of residency e.g. current Utility Bill not exceeding 3 months
  • Two passport size photographs of Applicant
  • Two satisfactory references (current account)
  • Download the FirstCurrent Plus Account Form (To be hyperlinked. Upload of form to website required.
  • Complete the form and submit at the nearest FirstBank branch

What is FirstCurrent Plus Account?

FirstCurrent Plus Account is FirstBank’s Zero COT Current Account. Holders of this account do not pay COT on the operation of the account as long as they meet the requirements specified by the Bank.

Can a company open and operate this type of account?

How do I open this account? You can open the FirstCurrent Plus Account at any branch of our Bank spread across the country. All you need do is to walk into any of our branches and the Customer Care staff will treat you to our traditional courteous service.

What are the benefits?

Commission on Turnover will NOT be charged on your account every month as long as you maintain the minimum balance and stay within the 5 times a month withdrawal limit.

Are there other benefits on this account apart from zero COT?

Yes, you get a free initial cheque book, withdrawals carried out on alternate channels (POS, ATM) are not counted as part of the monthly limit and there is an email alert on the account.

Will I be charged COT if I withdraw below the minimum threshold of N500,000?

Yes, the system will apply a default COT of N5 per mille on all transactions executed on the account for the month if you draw your account balance below the minimum operating balance. The same also applies if you exceed the limit of 5 times in the number of transactions allowed for the month except the transactions were carried out through alternate channels as explained above.

If I default on the minimum balance few days to month end will COT still be charged?

Yes, the default COT will be charged automatically for the whole month and will not be limited to the few transactions carried out on the closing days of the month.

I already maintain a current account with the Bank; can I switch to the FirstCurrent Plus Account to start enjoying the zero COT benefits?

Yes, you can. Simply complete the necessary account opening forms and the documentation requirements. You will also need to increase your account balance to meet the minimum operating balance required by the account.

Can I still retain my existing account number when I switch to FirstCurrent Plus Account?

You will end up with a new account number when you switch from your existing current account to FirstCurrent Plus Account (whether Individual or Corporate) since they are two separate products on our system.

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