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Biz Smart Account
This is a hybrid current account designed for Nigerian small and medium businesses. It can be opened with N60 000.
What does it offer you:
- Zero current account maintenance fee if you keep a minimum balance of N50,000 in the account and do not withdraw more than 4 times at a branch
- Earn interest of 1% per annum on available balance
- Free access to internet banking and mobile banking (transaction fees applies)
- MasterCard Debit Card for single signatory accounts
- A personalized Biz Smart cheque-book that you can only cash at Stanbic IBTC branches. Applies to third parties recipients too
- Free e-mail alerts
- Easy access to a domiciliary account
- You will need a Business Current account to get a loan
How much it will cost you:
- You need a minimum opening amount of N60,000
- The minimum balance on the account is N50,000
- You pay a Federal Government of Nigeria stamp duty charge of N50 for transactions initiated by a third party and above N1, 000. Salary accounts are exempted from this charge
- SMS alerts at N4 per alert
What you need to apply:
- A completed account opening form Please download here (PDF)
- Two completed reference forms
- Referees must be business account holders and not officers of the company or related companies
- Two signature cards filled by each signatory to the account
- Two clear recent passport photographs of each signatory with their names written on the back
- Any one of a valid international passport, driver's license, permanent voter's card or National ID card of each signatory
- Proof of residential address (e.g. utility bill issued in the last three months)
- Resident permit (where applicable)
- Bank Verification Number (BVN) of each signatory
- Applicable business registration documents i.e. Co7, Co2, certificate of registration, memorandum and article of association
- Applicable specialized business or trade licenses (e.g. SCUML)
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