Are you an entrepreneur or small business owner? Gain a competitive edge with the Wema myBusiness Account.
This account provides access to funding and credit packages to enable you build and maintain a thriving business over the long term.
- Sole entrepreneurs, micro enterprise business owners
- Small and medium scale businesses e.g., Private schools, Bakeries, Hospitals, Trading concerns, Commercial printers, Eateries, etc.
The myBusiness Account has three variants – Bronze, Silver and Gold – which have the following features:
|myBusiness Account BRONZE||myBusiness Account SILVER||myBusiness Account GOLD|
|Minimum Account Opening Balance||N10,000||N25,000||N100,000|
|Minimum Operating Balance||N10,000||N25,000||N100,000|
|Monthly Debit Turnover Limit||N5 million||N10 million||N40 million|
|Monthly Fixed Charge||N2,000||N5,000||N7,500|
- Access to the Wema Bank SME financing package for working capital
- Access to mobile banking and corporate internet banking platforms
- Access to select business forums organised by Wema Bank for SMEs
- Affordable monthly charges
- Low account opening and minimum operating balances
- Automatic COT concession rate for turnover volume above specified limit
- Completed account opening form (Download here)
- Copy of valid ID (Driver’s Licence, National ID Card, International Passport or Voter ID Card)
- Copy of utility bill (PHCN bill, Waste bill or Water bill issued within the last three months)
- Two passport photographs
- Two references
- myBusiness Account Agreement Form*
- Business/Company registration documents (e.g., Partnership agreement, Business Name registration certificate, Certificate of Incorporation; as applicable to business type)
- Memorandum and Articles of Association; copy of Forms CO2 & CO7; Resolution of the Board of Directors to open account (where applicable)
- The customer is required to sign this form at the beginning of the relationship with the Bank, stating their agreement to the terms and conditions of the product.
- Evidence of registration with the Special Control Unit on Money Laundering of the Federal Ministry of Trade and Investment (where applicable)
- Provision of Tax Identification Number(TIN) (where applicable)
- Search Report