- BANCASSURANCE
- CURRENT
- SAVINGS
- INVESTMENTS
- LOANS AND CREDIT CARDS
- NON-RESIDENT NIGERIAN (NRN) BANKING
- WAYS TO BANK
The FCMB Personal Business (Current) Account is designed solely for individuals who are not willing to pay account maintenance but would not mind a fixed flat fee per month.
Why choose the Personal Business Account?
- Opening balance is N5,000
- Account can be operated as either an individual or a joint account
- Maximum monthly fee is N1,500 only, irrespective of turnover
- Access up to N1,000,000 insurance
|
A |
No debit Turnover |
NIL |
|
B |
Less than 500,000 |
N1/MILLE |
|
C |
N500,000 – N2,000,000 |
N500 |
|
D |
ABOVE N2,000,000 |
N1,500 |
- Free SMS alert
- Higher transfer limits on internet banking
- No minimium balance required
- Unlimited withdrawals allowed
- Access to virtual POS for payments.
Benefits of the Personal Business Account?
- Low entry (account opening) amount of N5,000.
- ‘Bigger is better’: Irrespective of monthly debit turnover, maximum monthly fee remains N1, 500.
- The more transactions/turnover, the more you save from account maintenance.
- NO DEBIT TURNOVER, NO CHARGE
It is a full-fledged current account
Yes. A personalized cheque book will also be issued to you that can go for clearing and also enable you transact.
- Access to an instant debit card(MasterCard, Visa or Verve) for both local and international transactions
- Online banking with higher transfer limits from any location at your convenience
- Mobile banking transactions from any national GSM phone network to all registered financial institution in Nigeria
Cover protects the traders stock for Fire & Special Perils, specifics listed below;
- Fire Lightening & Explosions
- Storm, Tempest flood wind & Hailstorm
- Earthquake, Subterranean fire Land Subsidence & Tornado
- Aircraft & other Aerial devices dropped from above. Bursting or overflowing of water tanks causing damage to the property
*Customer benefit is average of last 6 months turnover subject to a maximum of N1,000, 000
- Customer notifies of occurrence of fire, flood etc. at the business premises.
- Your Account officer/CSM Logs incidence with Bancassurance Unit on IMS & requests for claim stating Customer’s details & attaching the following requirements:
- Clients details including average monthly turnover for 6 months
- Clients written statement of loss
- Photographs of the scene of loss
- Eyewitness report
- Fire Brigade report
- Stock records (Where Available)
- Traders
- Professionals in other segments
- Individuals who desire reduced/balanced transaction fees
In order to open a Personal Business Account, you must be a minimum of 18 years-old and provide the following:
- Proof of identification such as an original passport, driver's licence, a a valid BVN and NIN, national ID cards or Voter card
- A copy of a recent receipt from any public utilities or private telephone operator not later than three months
- A copy of residence or work permit for foreign customers
- Two passport photograph of each authorized signatory (stating the name on the reverse side)
- 2 reference forms
A comparison of Personal Business Account and the FCMB Business Account
|
Opening Balance |
N5,000 |
N25,000 |
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Minimum Balance |
NIL |
N5,000 |
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Target Segment |
Individual |
Registered Companies |
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Opening Name |
Individual Names |
Company Names |
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Debit Card |
Yes |
Yes |
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FCMB Online |
FCMB Online (Retail Version) |
FCMB Online (Business Version) |
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Free Insurance Cover |
Yes |
Yes |
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Max. Insurance Amount |
N1,000,000 |
N1,000,000 |
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Min. Insurance Qualification Threshold |
N250,000 |
N875,000 |
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Monthly Turnover Charge |
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