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FirstSME Basic
FirstSME Basic Account is a bespoke SME current account designed for Nano & Micro SMEs who are yet to complete their formal business registration.
Account Information
Description
Features
Who Can Apply?
How to Apply
Description
FirstSME Basic Account is a bespoke SME current account designed for Nano & Micro SMEs who are yet to complete their formal business registration.
Features
- Minimum opening balance of N5,000
- Minimum operating balance of N5,000
- Zero/mile annual maintenance charge subject to minimum operating balance and turnover limit
- Turnover limit of N10m per month with AMC to apply at N0.25k per mile on the excess or when overdraft is requested on the account
- Drawing below minimum balance of N5,000 attracts AMC N0.25k per mile on all transactions for the month
- Access to digital services and loans
Who Can Apply?
SMEs who are yet to complete their CAC business registration can open this account.
How to Apply
This account can be opened from any of our branches.
FAQs
No, the FirstSME Current account is meant for Small & Medium Scale Enterprise Customers.
No, the FirstSME Current account and Individual current account have different scheme codes.
Yes, it can be opened to these sets of customers.
Yes, the FirstSME Current account can be opened for new customers and No, it is not strictly for existing corporate customers with savings account who has been advised to migrate to current account.
