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MPower Biz Account

MPower Biz Account is designed to enable account holders to run their accounts at minimal cost. This allows you to maximise other opportunities required to grow your businesses.


Product Features

  • Opening balance of N50,000 
  • Minimum daily balance of N100,000 
  • Zero monthly account maintenance fee. 
  • Maximum monthly turnover of N100million 
  • Different variants of Debit Card based on the customer’s preference.  
  • Access to alternate channels e.g. online, mobile & telephone banking 
  • No restrictions on number of withdrawals  
  • Direct debit instructions 
  • No current account maintenance fee subject to maximum monthly turnover of N100Million and minimum daily balance of N100,000 
  • Access to Platinum Credit Card 

Benefits

  • Account is online real time 
  • Zero current account maintenance fee (subject to maintaining minimum balance and maximum turnover covenant) 
  • Free Financial Advisory Services 
  • Free Economic and Business Intelligence Reports 
  • Monitor account activities at the comfort of your home or office through the internet 
  • Third party withdrawals 
  • Provides account information updates via SMS/Email alerts  

Account Opening Requirements

  • Documentary evidence of address (Utility bill)
  • 2 references
  • 2 Passport photographs
  • Valid ID of all signatories
  • Residence Permit (Foreigners)
  • Forms CO7 and CO2
  • Certificate of Incorporation / Business Registration
  • Memorandum and Articles of Association
  • Board resolution
  • Search report
  • BVN

Product Pricing

PRICINGRATE

Account Maintenance Fee 

N1/mille Account Maintenance charges will apply if minimum daily balance is breached. 

If the stipulated maximum turnover volume of N50,000,000.00 is breached, then N1/mille will apply on the excess above the stipulated turnover

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