BASIC ACCOUNT OPENING REQUIREMENTS 1

BASIC ACCOUNT OPENING REQUIREMENTS

General Guide to

Account Opening

INFORMATION

This booklet contains a checklist of

minimum/basic account opening

requirements. Account officers are

required to adhere by the listings

for a seamless account opening process.

Please note that these requirements

are subject to change as determined

by both in-house and regulatory

practices.

BASIC ACCOUNT OPENING REQUIREMENTS

Access Bank Plc Basic Account Opening Requirements

Basic Account Opening Requirements

Standard Savings Account

Access Advantage Account

Solo Account

Standard Current Account

Access Premier Account

Current Account (individual)

Joint Account

Current Account (corporate)

Mpower Business Account

Partnership

Sole Proprietorship Account

Current02

Joint03

Business04

Savings01

Public Organisation Account

Government07

Mpower Salary Account

Unincorporated Societies/Clubs/Associations Account

Salary05

Non-Profit Organisation Accounts.06

Estate Account

Domiciliary Account

Money Market Account

Estate08

Domiciliary Accounts09

Money Market10

Schools / Colleges / Tertiary Institutions

Education Accounts (Institution)11

Financial Institutions Account

Financial Institutions Account12

Minors Account

Students Account

Students Account14

Content

Access Bank Plc Basic Account Opening Requirements

Savings Accounts

STANDARD SAVINGS ACCOUNT

Duly completed Account Opening Form

2 Passport Photographs

Valid means of Identification

(National I.d. Card, Driving Licence or International Passport)

One Reference Letter

(For Accounts with Monthly Turnover of N1 Million & above)

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessment Form

Mandate Card

Resident Permit

(for Non-Nigerians)

Visitation Report

A generic account designed for holders desirous of saving towards future

financial security. Interest accrues on account balance, subject to maximum

number of withdrawals within a specified period, usually one month.

Requirements

Savings Accounts

ACCESS ADVANTAGE ACCOUNT

Duly completed Account Opening Form

2 Passport Photographs

Valid means of Identification

(National I.d. Card, Driving Licence or International Passport)

One Reference Letter

(For Accounts with Monthly Turnover of N1 Million & above)

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessment Form

Mandate Card

Resident Permit

(for Non-Nigerians)

Visitation Report

A customized hybrid savings account, with features of a current account.

Unlike saving accounts, cheque books are issued to accommodate third

party cash withdrawals, with non-clearing cheques. Interest accrues on

account balance, subject to maximum number of withdrawals within a

specified period.

Requirements

Access Bank Plc Basic Account Opening Requirements

Savings Accounts

SOLO ACCOUNT

Duly completed Account Opening Form

2 Passport Photographs

Valid means of Identification

One Reference Letter

(For Accounts with Monthly Turnover of N1 Million & above)

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessment Form

Mandate Card

Resident Permit

(For Non-Nigerians)

Visitation Report

Requirements

A customized hybrid savings account with features of a current account.

It is designed to facilitate savings culture in the target group - young people

(age range 18-24yrs) and students of tertiary institutions. The account is

interest-bearing, subject to specified withdrawal limits.

Access Bank Plc Basic Account Opening Requirements

Current Accounts

ACCESS PREMIER ACCOUNT

A customized current account designed to facilitate savings culture in the

target group – LIPs and MIPs. The account is interest-bearing, subject to

specified minimum balance threshold.

Requirements

Duly completed Account Opening Form

2 Passport Photographs

Valid means of Identification

1 Reference

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessment Form

Visitation Report

Resident Permit

(for Non-Nigerians)

Mandate Card

Current Accounts

STANDARD CURRENT ACCOUNT

Duly completed Account Opening Form

2 Passport Photographs

Valid means of Identification

2 References

(One reference for Accounts with Monthly Turnover of N1 Million & below)

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessment Form

Visitation Report

Resident Permit

(for Non-Nigerians)

Mandate Card

A generic account which allows holders to effect withdrawals by use of

cheques that are payable on demand. Also known as Demand Deposit

account, it is non-interest bearing.

Requirements

Access Bank Plc Basic Account Opening Requirements

CURRENT ACCOUNT (INDIVIDUAL)

Duly completed Account Opening Form

2 Passport Photographs

Valid means of Identification for Each Signatory

2 References

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessment Form

Visitation Report

Resident Permit

(For Non-Nigerians)

Mandate Card

A generic type of current account operated by individuals.

Requirements

Current Accounts

Access Bank Plc Basic Account Opening Requirements

Joint Accounts

JOINT ACCOUNT

Duly completed Account Opening Form

2 Passport Photographs of Each Signatory

Valid means of Identification for each Signatory

2 References

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessment Form

Visitation Report

Resident Permit

(for Non-Nigerians)

Mandate Card

Operating Instruction

A type of current account operated by two or more individuals. Each

Account holder can effect transactions on the account, in accordance

with specified account mandate requirements.

Requirements

Business Accounts

CURRENT ACCOUNT (CORPORATE)

Duly completed Account Opening Form

2 Passport Photographs

Valid means of Identification

2 References

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessment Form

Visitation Report

Resident Permit

(for Non-Nigerians)

Form C07

Form C02

Certificate of Incorporation

Memo & Article of Association

Board Resolution

Search Report

Indemnity/letter of Set-off

Mandate Card

A generic type of current account operated by corporate entities.

Requirements

Access Bank Plc Basic Account Opening Requirements

Business Accounts

MPOWER BUSINESS ACCOUNT

A customized current account, with zero COT designed for small and

medium size businesses, which must be registered. It has two variants –

Mpower Gold and Mpower Platinum.

Requirements

Duly completed Account Opening Form

Memos & Article of Association

Mandate Card

Board Resolution

2 Passport Photographs

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

Valid means of Identification for each Signatory

KYC Form

Two Duly completed Reference Forms

Visitation Report

Form C07

Search Report

Form C02

AML Assessment Form

Certificate of Incorporation

Resident Permit

(For Non-Nigerians)

Business Accounts

PARTNERSHIP

Duly completed Account Opening Form

Form CO2

2 Passport Photograph of each Signatory

Copy of Certificate of Business Registration

Valid means of Identification for each Signatory

Memo & Article of Association/Partnership Deed

2 Reference Forms

Board Resolution

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

Search Report

KYC Form

Operating Instruction

AML Assessment Form

Mandate Card

Visitation Report

Form CO7

Resident Permit

(For Non-Nigerians)

An account designed for unincorporated business entities, registered

as partnership business, owned and managed by two or more persons

with equal responsibility for profits, losses, assets and liabilities.

Requirements

Access Bank Plc Basic Account Opening Requirements

Business Accounts

SOLE PROPRIETORSHIP ACCOUNT

A low transaction volume account designed for small and registered

business entities, owned and run by single individuals, with no legal

distinction between the owner and the business.

Requirements

Duly completed Account Opening Form

Certificate of Business Registration

Identification of Signatories

Copy of Proprietors List

Two Passport Photographs of each Signatory

Two Reference Forms

Resident Permit

(For Non-Nigerian)

Mandate Card

Search Report

Address Verification

Indemnity/Letter of Set-Off

Visitation Report

AML Assessment Form

KYC Form

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

Salary Accounts

MPOWER SALARY ACCOUNT

All Documents necessary for opening a Corporate

Account will be used

Resident Permit

(for Non-nigerians)

For the staff Product Account, The following will

be accepted:

Mandate Card, Signed Product Application Form with

provision for Direct Debit/Standing Instruction/Card

Acceptance

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

1 Passport Photograph

KYC Form

Valid means of Identification

Two Duly Completed Reference Forms

(By the Employer)

Address Verification

AML Assessment Form

A customized salary account designed to assist large corporate organisations

in their payroll administration, with staff of the organisations as primary

beneficiaries.

Requirements

Access Bank Plc Basic Account Opening Requirements

Non-Profit Organisation Accounts

UNINCORPORATED SOCIETIES/CLUBS/ASSOCIATIONS

ACCOUNT

Duly completed Account Opening Form

Mandate Cards

Certified True Copy of Certificate of Registration

Operating Instruction

2 Passport Photograph of each Signatory

Constitution of the club/society

Resident Permit

(for Non-Nigerians)

Minutes of meeting which specify where the Account

should be opened

Certified True Copy of Particulars of Trustees

(If Applicable)

KYC Form

Valid Identification of Signatories

AML Assessment Form

Board of Trustees Resolution

Visitation Report

2 Reference Forms

Power of Attorney

Search Report

(If Registered)

Accounts opened by registered non-profit making entities, with a minimum

of two signatories mandated to operate it, in addition to their specific

constitutional requirements.

Requirements

PUBLIC ORGANISATION ACCOUNT

Duly completed Account Opening Form

AML Assessment Form

Completed Signature Cards

Passport Photographs of Signatories

Valid means of Identification

Letter of Authorization from Accountant General/

Executive Council Resolution or Treasurer of Local

Government Council

Copy of Enabling Act/decree or Certificate of Incorporation

(where Applicable)

Memorandum & Article of Association

Form C07

Copy of Financial Regulation

(Where applicable)

KYC Form

Accounts designed for Government-owned entities, whose activities

may be commercial or otherwise.

Requirements

Government Accounts

Access Bank Plc Basic Account Opening Requirements

Estate Accounts

ESTATE ACCOUNT

Duly completed Account Opening Form

Mandate Cards

2 Passport Photograph of each Signatory

Letter of Administration nominating the Next of Kin

Copies of Death Certificate of the Deceased

Visitation Report

KYC Form

All other requirements for an Individual Current Account

AML Assessment Forms

An account opened in the name of an estate of a deceased person by a

representative of the estate, usually refered to as an executor/administrator.

Requirements

Domiciliary Accounts

DOMICILIARY ACCOUNT

Account Opening Form

Board Resolution

(If Corporate)

2 Passport Photographs

Form C02

(If Corporate)

Valid means of Identification

Form C07

(If Corporate)

Two Reference Letters

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessement Form

Visitation Report

Resident Permit

(For Non-nigerians)

Mandate Card

Search Report

(If Corporate)

A foreign currency denominated account designed for both individuals

and corporate entities. Account can be funded through cash deposits,

inflows and foreign cheques in the defined currency (Usually U.S Dollars,

Euros and Pound Sterling), while cash withdrawals and funds transfer

are permissible.

Requirements

Access Bank Plc Basic Account Opening Requirements

Money Market Accounts

MONEY MARKET ACCOUNT

Account Opening Form

Board Resolution

(if Corporate)

2 Passport Photographs

Form C02

(if Corporate)

Valid means of Identification

Form C07

(If Corporate)

Two Reference Letters

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessement Form

Visitation Report

Resident Permit

(For Non-nigerians)

Mandate Card

Search Report

(If Corporate)

An internal account designed for both account holders and non-account

holders, who desire investment in the Bank's money market products.

Requirements

Education Accounts (Institution)

SCHOOLS / COLLEGES / TERTIARY INSTITUTIONS

All documents necessary for opening a Corporate

Account will be required, in Addition to the following:

Copy of approval from National University Commission/

Relevant Government approval from Ministry Of Education

Letter from the Bursar/Accounts Office

Certificate of Incorporation

(Where applicable)

For departments in the School/College/University, the

following will be required:

A letter from the Head of the Faculty/Department

Constitution of Department

Extract of minutes of meeting in respect of banking

relationship

A corporate current account designed for institutions of learning.

Requirements

Access Bank Plc Basic Account Opening Requirements

Financial Institutions Account

FINANCIAL INSTITUTIONS ACCOUNT

Duly completed Account Opening Form

Mandate Cards

Two Passport Photographs of each Signatory

Valid Means of Identification for each Signatory

Form C02

Form C07

Certificate of Incorporation

Memorandum and Article Of Association

KYC Form

AML Assessment Form

Visitation Report

Board Resolution

Search Report

Operating Licence from Regulator

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

Accounts operated by entities engaged in the activities of acceptance

of deposits and other repayable funds from the public, lending, transfer

of money or value, financial leasing, etc.

Requirements

Access Bank Plc Basic Account Opening Requirements

Minors Account

MINORS ACCOUNT

Duly completed Account Opening Form

Birth Certificate of Child or International Passport

Valid means of Identification for Parent /Guardian

Two Passport Photographs of Both Child and Parent/Guardian

Mandate Card Visitation Report

(Verification of Address of Parent/guardian)

Resident Permit

(For Non-Nigerians)

AML Assessment Form

One Reference Letter

(For Accounts with Monthly Turnover of N1 Million & Above)

Proof of Residence of Parent/Guardian

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

A generic account opened on behalf of a child (usually under

the age of 18 years) by a custodian, who may be one of the

child's parents or guardian.

Requirements

Access Bank Plc Basic Account Opening Requirements

Students Account

STUDENTS ACCOUNT

Duly completed Account Opening Form

Valid Student ID Card of Institution of Learning

Evidence of Tenancy or Student Accommodation Contract

from Institution of Learning

Visitation Report

(Verification of Student's Address from Institution of Learning)

Resident Permit

(for Non-Nigerians)

One Reference Letter

(for Accounts with Monthly Turnover of N1 Million & Above)

Mandate Card

Proof of Residence

(Recent Utility Bill, State/Local Government Rate, Residence Permit issued by NIS, Tenancy Agreement etc)

KYC Form

AML Assessment Form

A generic type of savings account designed to hold funds for students

of secondary and tertiary institutions. Source of funding could be from

parents, scholarships, etc.

Requirements

Access Bank Plc RC125384

Group Head Office

Plot 1665, Oyin Jolayemi Street, Victoria Island

Lagos, Nigeria

T 234 (01) 461 9264 - 9, 271 2005 - 7

E [email protected]

ww.accessbankplc.com