CHESS Account

The flexible CHESS account makes every Naira count for you and your child.
N
2 000
Opening deposit
On maturity
Access to Funds
N5000
Minimum daily balance
CHESS Account Benefits
Affordable
Low Opening Balance
Mobility
Download the app, no need to go to a branch
Inclusive
Available for kids between ages 0 and 17 yrs
Independence
A MasterCard debit card
What You Get
- An account to manage your child’s savings for educational fees, extra classes, or simply learning about money.
- Interest rate of 1% above the average savings account
- Forfeiture of 1% interest upon more than 1 withdrawal in a quarter and forfeiture of savings rate if there are more than 4 withdrawals in a month
- MasterCard debit card for easy access to your money
- 24/7 Access to the customer care centre via phone, email and social media.
- Full digital banking access – internet, app and USSD
- Payment of cheques and divided warrants when KYC requirements have been met
What It Costs
- N 2 000 Opening balance
- Minimum N 5 000 daily balance
See product pricing guide on page below
How To Get It
- Minimum opening balance of N2 000
- Application form
- Child’s birth certificate
- Two recent passport photographs of the child
- Two recent passport photographs of the parent
- A valid ID of the parent
- Two reference forms - to enable cheque payments (Optional)
-
What You Get
-
What It Costs
-
How To Get It
- An account to manage your child’s savings for educational fees, extra classes, or simply learning about money.
- Interest rate of 1% above the average savings account
- Forfeiture of 1% interest upon more than 1 withdrawal in a quarter and forfeiture of savings rate if there are more than 4 withdrawals in a month
- MasterCard debit card for easy access to your money
- 24/7 Access to the customer care centre via phone, email and social media.
- Full digital banking access – internet, app and USSD
- Payment of cheques and divided warrants when KYC requirements have been met
- N 2 000 Opening balance
- Minimum N 5 000 daily balance
See product pricing guide on page below
- Minimum opening balance of N2 000
- Application form
- Child’s birth certificate
- Two recent passport photographs of the child
- Two recent passport photographs of the parent
- A valid ID of the parent
- Two reference forms - to enable cheque payments (Optional)
Pricing Guide in line with CBN Guide to Bank Charges by Banks and other financial institutions effective 1 January 2021.
Pricing Guide in line with CBN Guide to Bank Charges by Banks and other financial institutions effective 1 January 2021.
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