How To Open an Account with Zenith Bank Nigeria

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Zenith Bank is one of the largest financial institutions in Nigeria. The bank is also among the leading banks in the African region. Over the years, the bank has been growing in both customer base, asset base, as well as capital base. This has led to many people opening bank accounts in the institution. Zenith Bank Nigeria offer a variety of bank accounts to suit individual needs as well as business or corporate needs. The requirements for opening a bank account in Zenith Bank Nigeria will vary depending on the type of account. But basically, the requirements per account are as follows:

See Also: How To Open a Business Account with GTBank Nigeria

1. Savings Account with Zenith Bank Nigeria

The savings account is aimed at individuals who are intending to save some money. Unlike a current or checking account, the savings account offers some interest as an incentive for customers to save. In order to open this account, the following is necessary:

  • · Duly signed account opening form
  • · Two specimen signature cards
  • · Two passport size photos
  • · Identification e.g. national ID, Voters card, or passport
  • · Utility bill for residents
  • · Risk assessment form
  • · Additional KYC (Know Your customer)
  • · Residential permit in case of foreigners

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For a person intending to deposit checks into the savings account, an additional requirement of 2 independent referees is required.

See Also: How To Convert US Dollars to Naira

2. Individual Current Account with Zenith Bank Nigeria 

The current account also known as checking account is used for day-to-day transaction. It allows an account holder pay for utility bills, make unlimited withdrawals, deposit cash and checks (cheques), and also access overdraft facilities. When intending to operate a current account, the following requirements are needed:

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  • Duly signed application forms
  • Two specimen signature cards
  • Two passport size photos
  • References from two independent people
  • Identification e.g. national ID, Voters card, or passport
  • Utility bill for residents
  • Risk assessment form
  • Additional KYC (Know Your customer)
  • Residential permit in case of foreigners

3. Zenith Diaspora Account with Zenith Bank Nigeria

The Diaspora account is targeted for people based outside Nigeria. The account may either be held by a Nigerian living abroad who usually sends remittances at home, or a foreigner working in Nigeria. The following essentials are needed to open a Zenith Diaspora account:

  • · A properly signed application form
  • · Most current passport photograph
  • · Copy of the international passport bio-data
  • · Proof of residency e.g. copy of visa page
  • · Physical address e.g. utility bill, bank statement, or drivers license

Usually, opening a Diaspora account is done online, hence an individual will send soft copies of the requirements via e-mail.

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4. Corporate Current Account (CCA)

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This account is directed at Limited liability companies (Ltd), as well as Public Limited Companies (Plc’s). The account is opened on behalf of the company or business, and is operated by designated signatories who are authorised to operate the account. It is similar to an individual account but from a company perspective. Requirements for opening this account are as follows:

  • · Duly signed account opening form
  • · Two specimen signature cards
  • · Certificate of incorporation
  • · Particulars of Directors
  • · Certified copy of Articles and Memorandum of Association
  • · Signed and Sealed board resolution
  • · Signatories Identification (International passport, driver’s license, voters card, national ID)
  • · Official and residential visitation Form
  • · Two passport size photos
  • · References from two independent people of another company
  • · Public utility bill
  • · Mandatory Initial deposit
  • · Risk assessment form
  • · Additional KYC (Know Your customer)
  • · Residential permit in case of foreigners

5. Enterprise account (Sole Proprietorship, Partnership)

A sole proprietorship account is meant for a business that is being operated by one person. The requirements of opening this account are similar to those of a current account. The only additional requirement is certified copy of Application for registration. For a business being operated by partners, a properly signed partnership agreement is also required.

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Other accounts that are available at Zenith Bank Nigeria include:

· Embassies and High commissions

· Non Governmental organisations

· Government Agencies and Parastatal

· Churches

· Children accounts

· Estate Accounts

· Clubs, Associations, and Societies

From the start, Zenith bank Nigeria had already identified its niche market. It usually targets the premium or middle class sector. It is for this reason that some people refer to the bank as the bank for a “big man”. Nonetheless, the bank is also known to offer premium services both online as well as offline. Earlier in the year, The “Banker Magazine” ranked Zenith Bank among the top 50 banks in Africa. The Financial institution was also among the top 10 providers of Internet banking.

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