The only way you can be regarded as a bank customer is simply by having an account with the bank.
Without this, you can only enjoy the banking activities not as its authentic customer, rather as a third party.
The banking business nowadays is the one that mainly influences the economy
They accept deposits from the surplus units and channel those funds to the deficit units thereby controlling the flow of money in circulation in the economy.
Bank has both financial and investment activities its carries out daily.
Let's explain some of these functions performed by bank for better understanding!
Bank Accepts Deposit from You
Have you ever wondered why people stopped keeping money under their pillows?
It's because there are now banks everywhere where you can conveniently keep your money without the issue of theft.
Bank will just accept such funds from you and lend it out to those who need them.
The Deposit Accepted from You Are Lent out
That's called Granting of Loans and Overdraft to Customers
Are you the type that has business orientation but has little or no funds at all to finance your project, you can just approach the bank for loan or an overdraft at an affordable interest rate.
Provision of Investment Advice
If you have money and want to use such money for a business but don't know the kind of business you can venture into, your bank is there to advise you as regards where to invest your funds and their advice is always dope.
Those are some of the core functions carried out by bank.
Now, How can You and I Open a Bank Account with Any Bank in Nigeria?
The first thing to do is ask yourself, which type of account do I want to open?
Are you a student that just want to be saving and withdrawing any time? If your answer is yes, then you need a normal savings account and it has a limited amount of money it can receive.
Or you're a business man that wants to save only? you need a current account
or let me ask you.. you want to save your money only to make profit? my dear you need a fixed deposit account.
Or you're a corporate body that wants to open an account for your company? then go for a corporate account.
Account has different types, just select whichever one that suits your purpose
That is the main question you have to ask yourself before choosing an account.
-Is it savings that I need, current or other types? Read about different types of bank account that we have to know which is best for you.
-Having known the type of account you want to open, approach the bank of your choice with 3 passport photograph with a valid means of identification, be it Voter Card, International Passport, Driver's Licence or National I.D Card, ask for the customer care officer.
- Request for an account opening application form
-Fill the application form to the best of your knowledge and make sure your details are correct. You can employ the assistance of the customer care officer if you are not sure of the banking terminologies used to draft the application form
-After that, you will attach the 3 passport to the already filled account opening application form.
-Submit the filled application form and wait for the account opening officer to call you to the front desk.
-After having satisfied with your details, your account will be opened and ready for use
Note: in some instances, the bank account that you're opening may not be zero account, so you have to go with at least #3500, that will cover the initial deposit with the ATM Card charges
Zero Account means you don't need to have any amount in your account before you can operate it.
While some are using zero account, some require #100 as initial deposit in the account for it to be activated, some require #1000 while some require #2500.
Ask thoroughly about the account maybe it's zero account or not.
Follow those procedures and your account will definitely be opened
How was your experience when you opened yours?
Your comments are welcome.
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