Home/SME/Accounts/myBusiness Account
myBusiness Account 2018-11-13T15:02:26+00:00

myBusiness Account

Get access to funding and credit packages

An account targeted at Micro & Small Businesses. The product is dynamic enough to charge based on your monthly activities.

  • Sole Entrepreneurs
  • Micro Enterprises
  • Small and Medium scale businesses

Based on your monthly turnover, a flexible, monthly flat charge would be calculated as shown below:

  Monthly Debit Turnover Limit MyBusiness Account
Opening & Operating Balance 10,000
Target Market Micro and Small Businesses
Turnover Limit N30 million
Account Maintenance fee to be paid per band ≤ 1 Million NIL
  ≤ 5 Million 1,500
  ≤ 15 Million 3,500
  ≤ 30 Million 7,000
  ≤ 40 Million 17,000
  ≤ 50 Million 27,000
  • Low Account opening & operating balance
  • Easy access to loans
  • Concession on transaction charges
  • Activity-based charge for growing business which factors in changes in the business cycle
  • Access to SME capacity building programs (T’s & C’s Apply)
  • Business debit card
  • Tax advisory and Business tools (T’s & C’s Apply)
  • Completed account opening form (Download here)
  • 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

Apply for a Loan Now

Click here
Wemabank Logo