myBusiness Account

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Summary
Target Market
Features
Benefits
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Are you an entrepreneur or small business owner? Gain a competitive edge with the Wema myBusiness Account.

This account provides access to funding and credit packages to enable you build and maintain a thriving business over the long term.

  • Sole entrepreneurs, micro enterprise business owners
  • Small and medium scale businesses e.g., Private schools, Bakeries, Hospitals, Trading concerns, Commercial printers, Eateries, etc.

The myBusiness Account has three variants - Bronze, Silver and Gold - which have the following features:

 

myBusiness Account BRONZE

myBusiness Account SILVER

myBusiness Account GOLD

Minimum Account Opening Balance

N10,000

N25,000

N100,000

Minimum Operating Balance

N10,000

N25,000

N100,000

Monthly Debit Turnover Limit

N5 million

N10 million

N40 million

Monthly Fixed Charge

N2,000

N5,000

N7,500

  • Access to the Wema Bank SME financing package for working capital
  • Access to mobile banking and corporate internet banking platforms
  • Access to select business forums organised by Wema Bank for SMEs
  • Affordable monthly charges
  • Low account opening and minimum operating balances
  • Automatic COT concession rate for turnover volume above specified limit
  • Copy of valid ID (Driver's Licence, National ID Card, International Passport or Voter ID Card)
  • Copy of utility bill (PHCN bill, Waste bill or Water bill issued within the last three months)
  • Two passport photographs
  • Two references
  • myBusiness Account Agreement Form*
  • Business/Company registration documents (e.g., Partnership  agreement, Business Name registration certificate, Certificate of Incorporation; as applicable to business type)
  • Memorandum and Articles of Association; copy of Forms CO2 & CO7; Resolution of the Board of Directors to open account (where applicable)
  •  The customer is required to sign this form at the beginning of the relationship with the Bank, stating their agreement to the terms and conditions of the product.

  • Evidence of registration with the Special Control Unit on Money Laundering of the Federal Ministry of Trade and Investment (where applicable)

  • Provision of Tax Identification Number(TIN) (where applicable)

  • Search Report 

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July 24, 2017
SHARE PRICE N 0.6200 Up
VOLUME TRADED 10,515,199 Up