FirstCurrent Business

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.

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,

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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