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ACCESS BANK PLC

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30/7/2021

DBA Lite

DBA Lite is a variant of DBA (TraderLite) specifically designed for our young entrepreneurs.

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DBA Lite

DBA Lite is a variant of DBA (TraderLite) specifically designed for our young entrepreneurs.

Diamond Business Advantage (DBA) is a current account designed to add value to Micro, Small and medium businesses (MSMEs) and cause business growth via smart banking (cost management).

 

Features & Benefits

  • Less Documentation
  • Affordability
  • Convenience
  • Access to market
  • Access to finance
  • Access to business loans
  • Access to payment acceptance services e.g swift pay e.t.c.

 

Amazing Offers on DBA Lite

We’ve got amazing offerings for you. Kindly see below:
  • Access information, training, business courses and much more on SMEZone
  • Make payments and cash withdrawal on any POS or ATM with a business debit card  
  • Build an online business presence for as low as ₦15,000 with our discounted website service  
  • Register your business name at a discounted fee
  • Access finance at your fingertips through our  Cashflow loans by Access or Quickbucks
  • Conveniently receive payments for your business sales on Instagram, Facebook, WhatsApp via the Access Swiftpay – To sign up, please click HERE  

We’ve got lots more to offer!

Click HERE  to sign up.
 

FREQUENTLY ASKED QUESTIONS

DBA Lite is a current account specially designed for young entrepreneurs (individuals and businesses).
Yes, but they need to get their businesses registered. At Access Bank (Emerging Business unit), in partnership with legal solicitors we offer registration services at a discounted amount. For Business name registration, the cost is ₦24,438.75k while limited is ₦62,842.50k. The registration services come with a free corporate search as well as TIN (Tax identification Number).
These are:
  • Less Documentation
  • Affordability
  • Convenience
  • Access to market
  • Access to finance
  • Access to business loans
  • Access to payment acceptance services e.g swift pay e.t.c.
DBA Lite is affordable, customer gets to pay only ₦75 monthly fixed charge and a penal charge of 0.1% on the excess monthly turn over threshold amount of ₦1 million
Yes, DBA Lite customers can enjoy all our payment Channels.
 ATM cards (at the applicable Bank Charges) are available for both Individuals and Businesses.
 
Yes, Customers can request for cheque books, their cheque book will go for clearing.
Yes, TraderLite Businesses can access any of our Business loans
 
Customers can apply for the loan by contacting their Account Officer, any lending officer, Contact Centre or by visiting any Access Bank branch close to you.
No, this product is specifically designed for adults from age 18+ and above.
The DBA Lite variant is our response to meeting the needs of young entrepreneurs in the country. It is a business account specially designed for them, with the aim of providing financial inclusion for businesses in that segment while equipping them with the required skills to grow their business.
Any Individual or Registered Business that does a monthly turnover of 0-1 million naira. Examples are: Young entrepreneurs that fall under the ages18-35
DBA lite is a Business current account designed for individuals and Businesses in the micro segment.

Features

DBA Lite Individual

DBA Lite Business

Min Opening Bal

N5,000

N10,000

Min. Operating Bal

N2,000

N2,000

Monthly Fixed Charge

N75

N75

Segment Monthly Debit Limit

N1million

N1million

Penalty Charge

0.1%

0.1%

References

N/a

1

Yes, DBA Lite is a Tier 3 account that requires KYC (know your customer) in compliance with account opening regulatory requirement. This will be carried out by customers’ account officer.
There are different requirement for each variant of the DBA lite product:

Documentation requirements for DBA Lite Individual are:

  • Completed account opening form
  • Completed signature specimen form
  • 2 recent passport photographs of each authorized signatory
  • Valid Identification i.e. international passport, Driver’s license, National ID card
  • Proof of address (e.g., recent utility bill, rent agreement or rent receipt)
  • Bank Verification Number of signatories
  • Required minimum account opening amount
  • Important information form (T&C form).

Documentation requirements for DBA Lite Business are:

  • Completed account opening form
  • Completed signature specimen form
  • 2 recent passport photographs of each authorized signatory
  • Valid Identification i.e. international passport, Driver’s license, National ID card
  • Proof of address (e.g., recent utility bill, rent agreement or rent receipt) Bank Verification Number of signatories
  • Tax Identification Number (TIN)
  • 1 reference form
  • Special Control Unit Against Money Laundering (SCUML) certificate (if applicable)
  • Copy of form CAC/BN/A1- form of application for registration of business name
  • Copy of certificate of registration of business name (original to be sighted
  • Proof of address of business premises (e.g. recent utility bill, rent agreement or rent receipt)
  • Required minimum account opening amount
  • Important information form (T&C form).

 

No reference is required for Trader lite individual and only 1 reference is required for the Trader lite Business account.