This can also be referred to as a chequeing account. It allows cheque lodgements and withdrawals by third parties through the use of a cheque. An individual, companies, government, clubs and societies, may operate this account. The bank charges Commission On Turnover (COT) at month end on the transactions, which passes through the account.
Key features
- Minimum account opening balance of N10,000.00 (Ten Thousand Naira Only) and for
N50,000.00 (Fifty Thousand Naira Only) for personal and corporate accounts respectively.
- Attracts COT of 5/mille for every withdrawal.
- Attracts penalty charge of 25% on overdrawn transactions.
Key benefits
- Clients are eligible after 6 months to open a domiciliary account.
- Full e-banking options, ATM, telephone banking, Internet banking.
- Eligibility for temporary overdraft based on length of relationship (facilities)
Documentation required
- Account opening form duly completed
- Two reference forms
- Referees must be corporate account holders and not officers of the company or related companies. Referees who maintain the account with the bank must have done so for a minimum of 6 months
- Two signature cards duly completed by each signatory to the account
- Two recent clear passport photography of each signatory to the account with their names written on the back
- Current international passport or current drivers licence of each signatory
- Proof of residential address (e.g. utility bill issued in the last 6 months)
- Resident permit (where applicable)
- Customer address verification form
|
