Opening a business account with any Nigeria banks is one way to access small business financing for your company, regardless of size. Additionally, a business account offers a variety of benefits. These features and services can potentially improve firm finance management and ensure successful operations.
The World Finance Banking Awards have named Zenith Bank the Best Commercial Bank in Nigeria. While Zenith Bank offers a number of business bank account alternatives, the ideal option for small and medium-sized businesses is the SME-Grow My Biz Account.
The features and benefits of the Zenith bank is that it offers zero account opening balance, internet banking, Zenith mobile banking app, and many related features.
Guaranty Trust Bank
Among the greatest banks in Nigeria, Guarantee Trust Bank (GTBank) provides a range of business banking services to suit the requirements of small and medium-sized businesses (SMEs).
There are three different GT business connect accounts and there are; GT business platinum, GT business gold, and the GT business silver and these different accounts have their own features and benefits.
There are features that make up the GTB bank and there are Simple processing of payments, No limit on withdrawals, Availability of GTBank’s online platforms, Minimum balance requirements vary by type of account and might be as low as N10,000, N20,000, or N50,000, N2,000, N5,000, or N10,000 per month as a fixed fee, depending on the kind of account, Obtaining advances and loans, Annual business seminars, workshops, and networking events are available.
Unity Bank has adopted digital banking technologies to improve client satisfaction. To make transactions and account administration easier, this also includes mobile banking apps and internet banking platforms.
Unity Bank has gained recognition for its support of farmers and agribusinesses through agricultural financing. The bank has worked with government organizations on a number of agricultural intervention projects. And it also offers the same support for small business.
As is the case with many ethical businesses, Access Bank participates in a number of CSR programmes. Projects pertaining to community development, healthcare, and education may fall under this category. Retail banking, corporate banking, investment banking, and asset management are just a few of the financial services that Access Bank provides.
Access Bank provides a broad range of services and products that are specifically designed to meet the demands of its corporate and retail clientele.
Eco bank is another bank that offers the best services for small businesses, from payment methods that safely record turnover to cash management. Because of its extensive reach, Ecobank helps companies that are doing business internationally in several African markets by providing trade credit.
To improve its service offerings, Ecobank has partnered and collaborated with a number of organizations. Collaborations with fintech firms and other financial institutions may fall under this category. With the aid of these different features ad services, they offer the best to small business.
Customers can conduct a variety of transactions, check account balances, and manage their accounts from the comfort of their desktops or mobile devices via Wema Bank’s online and mobile banking platforms. Wema Bank offers a range of loan products, such as mortgage loans, business loans, and personal loans. The bank offers financial solutions to both people and companies.
Retail banking services, such as current and savings accounts, fixed deposits, and other personal banking products, are offered by Fidelity Bank. Customers can conduct a variety of transactions, check their account balances, and manage their accounts online with the help of Fidelity Bank’s internet banking services.
Small and medium-sized businesses (SMEs) are provided with specialized banking services by Fidelity Bank, such as loans, advisory services, and financial solutions that are specifically designed to meet their needs.
Reasons for Opening Account for Small Business
There are reasons or it is necessary and important to open an account for either small or big business. Here are the reasons to opening an account for your small business in Nigeria.
- Keeps your finance organized and separated.
- Establish the credibility of the business.
- Gives to loans in dire need of finance for the functionality of the business.