At FirstBank, we provide the support businesses need to grow with a dedicated business current account. This account is designed for micro, small, medium and large-scale enterprises, enabling businesses perform a variety of transactions at a predetermined fee.
Why Choose this Account?
The account comes in four (4) variants personalized to fit your business needs.
Premium
- Requires a minimum account balance N15,000.00
- Fixed monthly charge N2,000.00
- Maximum monthly debit turnover of N5 million.
- Excess on debit turnover limit attracts a default account maintenance charge at N1/mille.
- Excess on debit turnover limits attracts charges.
Silver
- Requires a minimum account balance N20,000.00
- Fixed monthly charge N5,000.00
- Maximum monthly debit turnover N15 million
- Excess on debit turnover limit attracts a default account maintenance charge at N1/mille.
Gold
- Requires a minimum account balance N50,000.00
- Fixed monthly charge N10,000.00
- Maximum monthly debit turnover N50 million
- Excess on debit turnover limit attracts a default account maintenance charge at N1/mille.
Platinum
- Requires a minimum account balance N100,000.00
- Fixed monthly charge N30,000.00
- Maximum monthly debit turnover N100 million
- Excess on debit turnover limit attracts a default account maintenance charge at N1/mille.
**Please note that FirstCurrent Business is a non-borrowing account**
Benefits
- No account maintenance charges
- Fixed monthly charge as low as N2,000.00
- Low minimum account balance
- No limit to number of withdrawals
- SMS alert on account.
Who Can Apply?
- Individual and Corporates organisations can operate this account.
What Documents Do You Need?
- 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
- Duly completed Specimen Signature cards.
To open a FirstCurrent Business account for your business/organisation,
- Download the Individual Account Opening Form
- Complete the form and submit at the nearest FirstBank branch
1) What is the FirstCurrent Business Account all about?
- It’s a new current account designed to cater for business needs of small and medium-scale enterprises. It allows unlimited transactions without paying COT.
2) Since this account does not attract COT, are there other charges to be paid by customers?
- The First Current Business Account allows payment of a monthly fixed charge depending on the particular variant subject to a prescribed minimum account balance and maximum debit turnover.
3) If a customer exceeds the prescribed maximum monthly debit turnover limit allowed on the Account, is there any penalty for the violation?
- Yes. The customer pays COT at N3/mille on the excess amount over the prescribed debit turnover limit.
4) Can a customer of FirstCurrent Business Account use it to access a loan from the Bank?
- The First Current Business Account is a non-borrowing account.
5) Are references required to open FirstCurrent Business Account?
- Yes. The requirements for opening the generic current also apply to the First Current Business Account.
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