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FirstCurrent Business
At FirstBank, we provide the support businesses need to grow with a dedicated business current account.
Account Information
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 to perform a variety of transactions at a predetermined fee.
The account comes in four (4) variants personalised 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**
- 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.
- 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.
Individual and Corporates organisations can operate this account.
To open a FirstCurrent Business account,
- Download the Individual Account Opening Form
- For joint account holders, download the Joint Account Holder Form
- Complete the form and submit at the nearest FirstBank branch
FAQs
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.
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.
Yes. The customer pays COT at N3/mille on the excess amount over the prescribed debit turnover limit.
The First Current Business Account is a non-borrowing account.
Yes. The requirements for opening the generic current also apply to the First Current Business Account.
