Designed to fit the lifestyles of teenagers and young adults, the Wema Purple Account is free of the strings of a minimum balance. It also comes with free bank drafts for paying fees and a debit card.
Features
Opening balance of N1,000
No minimum operating balance required
Maximum savings limit of N500,000
Maximum single deposit limit of N100,000
Debit card, Internet & Mobile Banking service available with Cum daily transaction limit of N100,000
Competitive interest rate
Minimal documentation
Benefits to Customers
A pocket money account that ensures secure and easy access to funds as well as interest earning for young adults.
No charge for transfers (standing instruction) from parent’s/guardian’s Wema Bank accounts to Purple account
No charge for bank draft purchased for payment of school fees for account holder
Access to digital banking through ALAT
Transaction alerts through SMS and/or E-mail
Documentation
Duly completed account opening form including signature mandate card
Tertiary Institution’s student ID OR Letter of Introduction/Admission OR in situations where Student ID card has not yet been issued, a document/letter duly signed and stamped by the school authorities with student’s passport affixed would suffice.
1 passport photograph
BVN of young adult (BVN allowed for minors)
Copy of utility bill (Water, electricity, Waste or telephone) issued within the last three months
Student hall of residence allocation letter is acceptable in place of utility bill