The FCMB Personal Business (Current) Account is designed solely for individuals who are not willing to pay account maintenance but would not mind a fixed flat fee per month. 

Why choose the Personal Business Account?

• Opening balance is N5,000
• Account can be operated as either an individual or a joint account
• Maximum monthly fee is N1,500 only, irrespective of  turnover
• Get up to N1,000,000 insurance

• Free SMS alert
• Higher transfer limits on internet banking
• No minimium balance required
• Unlimited withdrawals allowed
• Access to virtual POS for payments.

Benefits of the Personal Business Account?

• Low entry (account opening) amount of N5,000.
• ‘Bigger is better’: Irrespective of monthly debit turnover, maximum monthly fee remains N1, 500.
• The more transactions/turnover, the more you save from account maintenance.
• NO DEBIT TURNOVER, NO CHARGE

FAQS

What type of account is the Personal Business Account?

It is a full-fledged current account

Does this mean I can pay in cheques/dividend warrants?

Yes. A personalized cheque book will also be issued to you that can go for clearing and also enable you transact.

What alternate channel transactions are available with this account?

• Access to an instant debit card(MasterCard, Visa or Verve) for both local and international transactions
• Online banking with higher transfer limits from any location at your convenience
• Mobile banking transactions from any national GSM phone network to all registered financial institution in Nigeria

What does the Insurance Cover?

Cover protects the traders stock for Fire & Special Perils, specifics listed below;

• Fire Lightening & Explosions
• Storm, Tempest flood wind & Hailstorm
• Earthquake, Subterranean fire Land Subsidence & Tornado
• Aircraft & other Aerial devices dropped from above. Bursting or overflowing of water tanks causing damage to the property

*Customer benefit is average of last 6 months turnover subject to a maximum of N1,000, 000

How do I claim the Insurance Benefit?

• Customer notifies of occurrence of fire, flood etc. at the business premises.
• Your Account officer/CSM Logs incidence with Bancassurance Unit on IMS & requests for claim stating Customer’s details & attaching the following requirements:
• Clients details including average monthly turnover for 6 months
• Clients written statement of loss
• Photographs of the scene of loss
• Eyewitness report
• Fire Brigade report
• Stock records (Where Available)

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Who is the Personal Business Account targeted at?

• Traders
• Professionals in other segments
• Individuals who desire reduced/balanced transaction fees

What do I require to open Personal Business Account?

In order to open a Personal Business Account, you must be a minimum of 18 years-old and provide the following:

• Proof of identification such as an original passport, driver's licence, national ID cards or Voter card
• A copy of a recent receipt from any public utilities or private telephone operator not later than three months
• A copy of residence or work permit for foreign customers
• Two passport photograph of each authorized signatory (stating the name on the reverse side)
• 2 reference forms

A comparison of Personal Business Account and the FCMB Business Account

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