Opening a business account is as simple as an English alphabet. Let’s dive in to learn more.
What is a small business account?
A small business account is a financial account specifically designed to meet the needs of small businesses.
These accounts allow businesses to easily manage their finances, pay suppliers and employees, access cash and credit, and gain insights into their financial performance. Below are legit banks you can open a business account with today.
1. Guaranty Trust Bank
Guaranty Trust Bank (GTB) is one of the leading financial institutions in Nigeria, offering a range of services including banking, investments, and insurance products. It has grown rapidly since its inception in 1990 and now serves millions of customers across the country.
GTB’s Small Business Banking solutions provide business owners with access to tailored products and services that help them manage their finances more efficiently and effectively.
How to Create a Business Account with GTB
- Visit your nearest GTB branch to open your account.
- Fill out the necessary forms and submit relevant documents.
- Open your account by making an initial deposit.
- Receive your debit card and Internet Banking login details.
- Login to the Internet Banking platform to access your account details.
- Activate your mobile banking service if needed.
- Start managing your funds online with ease.
2. First Bank of Nigeria
First Bank of Nigeria is one of the oldest and largest financial institutions in the country, offering a wide range of banking services to both individuals and businesses.
This bank offers Small Business Account is a convenient and cost-effective way for entrepreneurs to manage their finances.
3. United Bank for Africa
The UBA small business account provides a convenient way to manage finances and access banking services.
The account allows customers to carry out banking transactions quickly and securely, with features such as electronic payments, online transfers and mobile banking.
Business Customers can also take advantage of UBA’s financial planning advice, and budgeting tools. With the UBA small business account, customers can also benefit from competitive interest rates and access to credit facilities.
4. Zenith Bank
Zenith Bank is one of Nigeria’s leading banks with a presence in over 10 African countries.
Zenith Bank offers a range of business accounts tailored to meet the specific needs of small businesses.
These accounts allow business owners to access funds, receive payments, transfer money, manage finances, and more. All accounts come with several features, such as online banking, debit cards, mobile banking, overdrafts, and merchant services.
5. Access Bank
Access Bank’s Small Business Account provides an efficient and affordable way for entrepreneurs and small businesses to manage their financial affairs.
With this type of account, you can easily transfer money between accounts, make payments, open savings accounts, and apply for loans.
It also allows you to access funds in multiple currencies, offering you more flexibility with your business transactions. Additionally, the bank also offers financial advisory services and other support to small businesses.
Ecobank is a pan-African bank that provides banking services to individuals and businesses in Africa.
Ecobank’s Small Business Account is designed for businesses with a turnover of less than NGN 10 million.
This account offers a range of services including online and mobile banking, merchant acquiring, and foreign exchange solutions. With the Ecobank small business account, you can easily open an account online and have access to several useful features such as free international transfers and free access to the Ecobank mobile app.
7. Fidelity Bank
Fidelity Bank’s business account works like any other bank account. It allows you to deposit money into the account and manage your funds with ease.
The bank provides online banking services that allow you to monitor your accounts from anywhere. This helps you stay on top of your finances and manage your business finances efficiently.
Frequently Asked Questions
Which bank is the best for small business in Nigeria?
The best bank for small business in Nigeria is Guaranty Trust Bank (GTB).
Below are three reasons why GTB is the best bank for small business in Nigeria
It offers a variety of features and services which includes: competitive interest rates.
Which bank is easy to open business account in Nigeria?
When it comes to opening a business account in Nigeria, UBA is the bank that makes it easy.
The bank offers a range of banking solutions tailored for small businesses and entrepreneurs. With its wide network of branches across the country, opening a business account at UBA is a hassle-free process.
To conclude, if you’re looking for a bank that allows easy opening and maintaining of a business account in Nigeria, UBA is the best bank for you.
Can I open a kuda account for my business?
Yes, you can open a Kuda account for your business.