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Home    Customer Care    Account Opening Information
Types of Account provided by Wema Bank Plc
  • Savings/Wema Treasure Account
  • Individual/Personal/Salary Account
  • Sole Proprietorship/Partnership
  • Corporate Current/Deposit Account/Others
  • NGO”S
  • Fixed Deposit Account
  • Call Account
  • Societies, Clubs And Associations
  • Parastatals And Other Government Accounts

    - Federal/State Ministries, Departments, and Parastatals
    - Local Government Councils
  • Trustees Accounts
  • Minor Account

Others
  • Wema Open Plan Account (WOPA)
  • Wema Treasure Account
  • Wema Bounty Account
  • Domiciliary Account

ACCOUNT OPENING DOCUMENTATIONS

Savings/Wema Treasure Account
  1. Account opening form duly completed.
  2. Two (2) specimen signature cards duly completed by the signatory to the account.
  3. Three (3) recent passport size photographs of signatory with name and signature written on the reverse side.
  4. Means of identification i.e. Drivers licence, International passport or National ID Card etc (original to be sighted). These must bear the current address of customer.
  5. Photocopy of Public Utility Receipt i.e. Tax Clearance Certificate (TCC), NEPA, or NITEL bills etc (original to be sighted). These must bear the current address of customer.
  6. Mandatory Initial Deposit
  7. Residence Permit (For Expatriates).
  8. Letter of Administration/Will (for account of the estate of a deceased).
  9. One satisfactory reference required for Wema Treasure Account. A person to whom the prospective customer is well known.
  10. Where a Savings Account is to be used for clearing of dividend warrants/cheques, two references must be obtained as it is done on current accounts.

Individual/Personal/Salary Account
  1. Completed individual/personal account opening forms.
  2. Two passport sized photographs of signatory/or each of the signatories to be authenticated by the Referees/ or the Managing Director/Chief Executive Officer of the organization as applicable.
  3. Two satisfactory references from two persons to whom the prospective customer is well known.
  4. Current Resident permit where the prospective account holder is an
    Expatriate
  5. Evidence of identity (International passport or driving licence).
  6. Letters of introduction from employers (for those in employment)
  7. Note that cheques issued in the name of well-known individual within the community can be used to open a new account where he/she is unable provide cash but withdrawal should not be allowed until the account is fully perfected.
  8. Visitation Report: This will be conducted on the place of residence of the signatory to the account. The report of this exercise must be documented in the customer’s mandate file.

Sole Proprietorship/Partnership
  1. There must be a letter of request to open an account with the bank from the firm.
  2. Completed account opening forms
  3. Copy of Certificate of Registration of business names, (Original to be sighted).
  4. Certified True Copy of “Application for Business Name Registration” i.e form II (Original to be sighted).
  5. Two passport sized photographs of signatory/or each of the signatories (To be authenticated by the Referees).
  6. The two satisfactory references that must be obtained should be from the persons/ of whom the prospective account holder is well known.
  7. Visitation Report: This will be conducted on the place of residence of the signatory to the account. The report of this exercise must be documented in the customer’s mandate file.

Corporate Current/Deposit Accounts
  1. Completed current account opening forms
  2. Copy of certificate of incorporation (Original to be sighted)
  3. Copy of Printed Memorandum and Articles of Association. - (Original to be sighted).
  4. Board Resolution appointing the bank as bankers and duly signed by the Chairman and Secretary.
  5. Two passport sized photographs of signatory/or each of the signatories to be authenticated by the Referees/ or the Managing Director/Chief Executive Officer of the organization as applicable.
  6. Two satisfactory references must be obtained on the directors of a newly incorporated company. However where a company is well known, two satisfactory references can be obtained on the company.
  7. Referees can be an individual, the proprietor/s of a sole proprietorship or a widely recognized Limited Liability Company.
  8. Current Resident permit of non-Nigerians who are Directors and authorized signatories must be obtained.
  9. Searches report from Corporate Affairs Commission, Abuja will be conducted.
  10. Copy of Form CO7 (Original to be sighted) must be obtained.
  11. Cheques issued in the name of a well-established Enterprise or corporate entity that intends to open an account can be used to open the new account but funds cannot be withdrawn until the Corporate Affairs Commission confirms the legal status of the company and all other documentations are fully perfected.
  12. Customer’s pressure for withdrawal before perfection of such account shall be resisted.
  13. Visitation Report: This will be conducted on the place of residence of the signatory to the account/location of the company. The report of this exercise must be documented in the customer’s mandate file.

Non-governmental Organisation Account (Ngo’s)

All the basic documentation required in individual current account and the
following:

  • Copy of the Charter/Memorandum and Article of Association of the NGO.
  • A copy of the resolution of the Principal/Executive Officer of the NGO to open the account with the Bank.
  • Constitution.

Fixed Deposit Account
  1. Account opening form duly completed.
  2. Two (2) specimen signature cards duly completed by the signatory to the account.
  3. Two (2) recent passport size photographs of signatory with name and signature written on the reverse side.
  4. Means of identification i.e. Drivers licence, International passport or National ID Card etc (original to be sighted). These must bear the current address of customer.
  5. Photocopy of Public Utility Receipt i.e. Tax Clearance Certificate (TCC), NEPA, or NITEL bills etc (original to be sighted). These must bear the current address of customer.
  6. Mandatory Initial Deposit
  7. Residence Permit (For Expatriates).
  8. Letter of Administration/Will (for account of the estate of a deceased).
  9. One satisfactory reference required for Wema Treasure Account. A person to whom the prospective customer is well known.
  10. Where a Savings Account is to be used for clearing of dividend warrants/cheques, two references must be obtained as it is done on current accounts.

Call Deposit Account

Call Deposit Account is a flexible and accessible money market product. The tenor is 7 days notice. The requirements for opening a Call Deposit Account include:

  1. Opening a current account
  2. Initial deposit of N500, 000.00 and above.

Societies, Clubs And Associations
  1. Completed account opening forms
  2. Copy of Certificate of Registration. (Original to be sighted).
  3. Copy of Printed Memorandum and Articles of Association/copy of the society’s “Constitution”.
  4. Two-studio passport sized photographs of signatory/or each of the signatories. (To be authenticated by the Referees/ or the club president).
  5. Two satisfactory referees on each of the signatories.
  6. Extracts of the minutes of meeting appointing the bank as their banker and when the existing officials were elected.
  7. Visitation Report: This will be conducted on the place of residence of the signatory to the account. The report of this exercise must be documented in the customer’s mandate file.

Parastatals And Other Government Accounts

Federal/State Ministries, Departments, and Parastatals
  • Letter of authority to open account from the Accountant General or Chief Executive in respect of Departments or Parastatals.
  • The underlisted forms shall be forwarded to the Federal/State Accountant General for completion and signing by the authorized signatories and countersigned by the Accountant-General:
    -New Account opening forms
    -Two signature cards duly completed
    - Two passport photographs of all the signatories
    - Means of identification (Either International passport or Driving Licence)
    - A letter of request to open an account issued by the Permanent Secretary or Chief Executive and supported with a Board Resolution in respect of parastatals accounts.
    -Copy of the Act/Decree or other relevant instrument/setting up the corporation.
    -Cheques can be accepted to open Federal/State Government and parastatals Accounts.
    -Visitation Report: This will be conducted on the place of residence of the signatory to the account. The report of this exercise must be documented in the customer’s mandate file.

Local Government Councils
  1. A letter of request to open an account with the bank issued by the Chairman or Secretary which should incorporate the names and designation of authorized signatories and their signing powers.
  2. The underlisted forms shall be forwarded to the Chairman of the local government council for completion and signed by the signatories and counter signed by him.

  • New Account opening forms
  • Two signature cards duly completed
  • Two passport photographs of all the signatories
  • Means of identification (Either International Passport or Driving Licence)
  • A letter of request to open an account issued by the Chairman or the secretary to the Local Government.
  • Visitation Report: This will be conducted on the place of residence of the signatory to the account. The report of this exercise must be documented in the customer’s mandate file.

Trustees Accounts

The following are the documents required for opening of a Trustee Account:-

  1. Account opening forms
  2. Two signature cards executed by all Trustees.
  3. Copy of Trust Deed or any other documents creating the Trust
  4. Two referees for each of the Trustees
  5. Two passport photographs for each signatory
  6. Means of identification
Minor Account

Parents or guardian for such a person that is below 18 years of age can open minor accounts. However, when the minor attains the age of 18 years, he/she is to be introduced to the bank by the operators of the accounts and be allowed to continue operating the account independently.

The following is required: -

  1. Savings Account opening forms
  2. Two passport photographs each of signatory/operator and the minor.
  3. Means of identification of signatory
  4. Birth Certificate or Sworn Declaration of age of the minor.
  5. Visitation Report: This will be conducted on the place of residence of the signatory to the account. The report of this exercise must be documented in the customer’s mandate file.
Domiciliary Account

Please call our Customer Interaction Centre with nos. 234-1-4613146-7  for information on opening a Domiciliary Account.

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