Gone are the days when you need to schedule a full day of running from one business centre to the other in order to print and photocopy your documents, and spending time in traffic to complete bank trips just to find yourself waiting in long and seemingly endless queues at the bank. Don’t even get me started on the hefty account opening balance you had to deposit and all the forms you had to fill just to open a bank account, only to be told the dreaded ‘come back for your account details in 5 to 7 working days.’
Today, opening a bank account is as easy as walking into the bank, filling one simple form, and walking out with your bank account details. If you are lucky, you might even get your debit card to start making transactions immediately. What’s more? It gets much easier than that!
In this article, I will tell you why you need to own a bank account, the requirements needed to open a bank account in Nigeria, and the fastest and most convenient way to open a bank account in just a few minutes.
Why You Need a Bank Account
While there are multiple ways to get by without owning a traditional bank account, using options like prepaid cards and mobile money agents amongst others, owning a bank account is indispensable if you plan to earn money from your employer, make hassle-free payments for goods and services, and receive money from friends and family. Of course, these things can still be done without owning a bank account, albeit with more hassles than necessary sometimes, permit me to share some more serious reasons why owning a bank account is a must for every citizen of a country.
Owning a bank account offers you security for your money, an easier way to get overviews and properly manage your finances with digital tools and services banks offer. Bank account creates a financial footprint that might come in handy when applying for loans or fulfilling business, or travel, requirements where your bank account statement is required as proof of income and your ability to fulfil your financial obligations. Imagine being denied a loan because credit bureaus couldn’t find proof of your financial existence, or a position because you couldn’t prove your contribution to the growth of commerce in your locality. You don’t want to be that person.
Bank Account Opening Requirements in Nigeria
Now that you know how important it is for you to own a bank account, let’s look into the documents required to open a bank account in Nigeria. While the documents required to support your application for a bank account may vary, depending on the type of bank account you are applying for, these are some general requirements that you will need to meet. In addition to filling a relatively short form by providing personal information like your full address and contact information, you will be required to provide the following:
Utility Bill: A recent proof of your residential address, such as water or electricity bill, is required to open a bank account.
Government-issued Identity Card: A government-issued identity card, such as national identity card, permanent voters card, driver’s license or international passport, is required to open a bank account.
Passport Photograph: The bank requires the passport photograph of the applicant for identification purposes.
With these basic requirements, you can walk into the nearest UBA branch and open your bank account in a few minutes.
How to Open a UBA Account Online in Minutes
So, now you know why you need to own a bank account and the documents required to open one. In fact, you are already checking your schedule to make the trip to the closest bank branch in your area so that you can start enjoying the benefits of banking with UBA. I mean, who wouldn’t be excited to take advantage of UBA’s flexible account opening balance and attractive interest rates? You also get to enjoy unfettered access to use UBA debit cards on ATM, POS and online anywhere in the world, and 24 hours access to mobile, internet banking and USSD banking codes for stress-free financial transactions and not forgetting the new UBA Mobile App and mobile chat with Leo on Facebook Messenger and WhatsApp. But that’s not all, it gets better with UBA!
Because UBA continues to distinguish itself in the financial services industry by maintaining its position at the forefront of innovation in Africa and delivering excellent services to its customers, you don’t need to visit a branch to open a UBA account. For busy people who are totally plugged into today’s digital ecosystem, and are not intrigued by the thought of spending time in traffic to visit a bank’s branch, waiting on queues, and filling physical forms, UBA feels you and has got you covered. You can also open your UBA account online, instantly! All you need to do is to fill the application form, upload pictures of your documents online, and get your fully functional bank account opened instantly from the comfort of your home or while enjoying a cup of coffee during your break at work.
Although you can open a UBA bank account online, to have a fully functional account, you’ll still need to complete your documentation at any of the UBA branches to have a fully functional bank account.