Biz Smart Account
Biz Smart is an SME-focused account type designed to help businesses operate at lower costs by offering current account maintenance (CAM) fee concessions along with other benefits. The product supports small and medium enterprises in optimising their financial resources while maintaining operational efficiency.
Some of our benefits
Save
Transact and Pay Zero Account fees
Access
Bank 24/7 through our digital banking channels
Support
24 hour business banking support through our customer care channels
Mobility
Download the EOL (Enterprise Online) or SME App wherever you are
What you get
- Zero current account maintenance (CAM) fee if you keep a minimum daily balance of ₦5,000 in the account
- A free debit card upon successful account opening
- A personalised Biz Smart cheque book that you can only cash at Stanbic IBTC branches. (Applies to third-party recipients too)
- Access to free business POS
- Free e-mail alerts
- Easy access to a domiciliary account
What it costs
This is a current account with an exemption from an account maintenance fee if the following are met:
- The minimum account opening balance is ₦20,000 – for registered businesses
- This account will be charged with a current account maintenance fee of ₦1 per mille if the minimum daily balance on the account is less than ₦5,000
- A customer who does a total monthly withdrawal of less than ₦50million will not be charged the CAM fee, while a customer who does above ₦50million will be charged ₦1 per mille on the excess withdrawal. 7.5% VAT will automatically be taken alongside the CAM fee.
- The cheque is not eligible to go through the Central Bank of Nigeria Clearing House. Accordingly, the cheque can only be cashed at the Bank’s branches and or paid into bank accounts maintained in the Bank.
- Minimum operating balance of ₦5,000 to enjoy the concession on current account maintenance fees
How to get it
- Complete registration documents from the Corporate Affairs Commission (CAC):
- CAC certificate and status report for business name
- CAC certificate, status report, and MEMART for Limited Liability companies
- A valid means of identification: Driver’s license, INEC voters’ card, NIN slip/card, or international passport of the signatories
- BVN of signatories
- Recent utility bill – not older than three months.
- TIN
- 1 passport photo of each signatory
- Download and complete the account opening form
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What you get
-
What it costs
-
How to get it
- Zero current account maintenance (CAM) fee if you keep a minimum daily balance of ₦5,000 in the account
- A free debit card upon successful account opening
- A personalised Biz Smart cheque book that you can only cash at Stanbic IBTC branches. (Applies to third-party recipients too)
- Access to free business POS
- Free e-mail alerts
- Easy access to a domiciliary account
This is a current account with an exemption from an account maintenance fee if the following are met:
- The minimum account opening balance is ₦20,000 – for registered businesses
- This account will be charged with a current account maintenance fee of ₦1 per mille if the minimum daily balance on the account is less than ₦5,000
- A customer who does a total monthly withdrawal of less than ₦50million will not be charged the CAM fee, while a customer who does above ₦50million will be charged ₦1 per mille on the excess withdrawal. 7.5% VAT will automatically be taken alongside the CAM fee.
- The cheque is not eligible to go through the Central Bank of Nigeria Clearing House. Accordingly, the cheque can only be cashed at the Bank’s branches and or paid into bank accounts maintained in the Bank.
- Minimum operating balance of ₦5,000 to enjoy the concession on current account maintenance fees
- Complete registration documents from the Corporate Affairs Commission (CAC):
- CAC certificate and status report for business name
- CAC certificate, status report, and MEMART for Limited Liability companies
- A valid means of identification: Driver’s license, INEC voters’ card, NIN slip/card, or international passport of the signatories
- BVN of signatories
- Recent utility bill – not older than three months.
- TIN
- 1 passport photo of each signatory
- Download and complete the account opening form
We also offer
Fixed Deposit Account
If you have a lump sum of money to invest and desire amazing returns on it, then our Fixed Deposit Account is perfect for you. With our Fixed Deposit Account, you can earn more interest on your deposits from a period as short as 30 days to up to a full year.
MaxYield Account
Accelerate your savings with the option of partial withdrawals for emergencies along the way