7 Best Banks for Current Account in Nigeria


A current bank account is opened by people who have a higher number of regular transactions with the bank. These transactions include deposits, withdrawals, and contra transactions. A current account is also referred to as a Demand Deposit Account.

7 Best Banks for Current Account in Nigeria

A current bank account can be opened in a corporate or commercial bank. This article writes on the best banks in Nigeria where you can open a current account. Read on below:

1. Zenith bank

Zenith has various options for a current account. These are:

Individual current account

With an Individual current account, you have access to mobile banking applications, debit cards and other services

How to open a current account with Zenith bank

Open a Zenith Bank current account with the requirements laid down.

Features and benefits

  • Zero account opening balance
  • Internet Banking
  • Zenith Mobile Banking app
  • *966# Eazybanking
  • MasterCard/Visa/Verve debit card
  • Email and SMS Alerts
  • Cheque book

Requirements for Zenith bank current account

  • Duly completed account opening form
  • One recent clear passport photograph
  • Identification documents such as Driver’s License, International Passport,
    National Identity Card or Voter’s Card
  • Residence permit (where applicable)
  • Two independent and satisfactory references
  • Public Utility Receipt within the last three months. This can be the electricity bill, water rate bill, tenement rate, rent receipt etc.

Gold premium account

This is a high yield current account that is best suited for customers who have more inflow transactions than outflows. With the Gold premium current account, one has maximum interests on daily account balances and minimum charges on transactions.

Features of Gold premium account

  • Opening balance of N1, 000, 000
  • Interest earning of 1% per annum on N1, 000, 000
  • Zero account maintenance fee for the first 5 withdrawals.
  • International transaction monthly limit of $3, 000
  • MasterCard Gold debit card
  • Emergency Gold debit card
  • Emergency card replacement
  • Emergency cash reimbursement

Platinum Premium Account

Platinum premium account is Zenith current account with the highest yield.

Features of Platinum Premium Account

  • Opening balance of N3,000,000
  • Interest bearing of 1.6% per annum on N3,000,000 minimum balance
  • No Account Maintenance Fee (AMF) on first 5 withdrawals.
  • Emergency Card Replacement
  • Emergency Cash Disbursement
  • Fraud Protection

2. UBA Current account

UBA Current account comes with great benefits such as prepaid and debit cards, access to digital banking channels, attractive interest rates and a secure account.

UBA Individual Current Account

This is a Demand Deposit Account designed for individuals and joint individuals. Funds deposited are payable on demand, in person, a third party or via electronic fund transfers.

Requirements for UBA Current account

  • Completed Account opening form
  • 2 Passports photograph
  • A valid means of identification such as national ID, International Passport, voter’s card or license
  • 2 references
  • Benefits of the UBA Individual current account
  • Opening balance of N5, 000
  • Zero minimum operating balance
  • Access to consumer credit facilities
  • Enablement of cheque book
  • No restrictions on the frequency of withdrawal
  • Third party transactions are allowed
  • No restrictions on amounts that can be deposited’
  • Access to internet and mobile banking
  • Access to UBA Master card and Visa card

3. Union bank

Basic Current Account

Features of Basic Current account

  • You can open a basic current account with just N5,000
  • Use your MasterCard, Visa or Verve debit cards to withdraw and make online transactions

Payroll Plus Current

The Payroll Plus current account is for salary earners.

  • Zero account opening
  • Free daily minimum operating balance.
  • Access to online/mobile banking
  • Zero account maintenance fee
  • Access to personal loans

4. GT Bank

The current account with GT Bank is a checking account that allows you to carry out bank transactions with third parties. You can carry out transactions on your GT Bank current account with your cheque, ATM card or via a GT Bank electronic channel. The GT Current account is a convenient way to manage your daily finances.

Features of GT bank Current account

  • 24/7 Banking services via our various e-channels
  • A personalized Naira MasterCard
  • A Cheque book will be issued on request at any of the GTB branches nationwide
  • Account owner is eligible for Internet banking, telephone banking with GTConnect and GTBank Electronic Notification Service.

Requirements to open a GT Bank Current account

  • A duly completed application form
  • Copies of documents of identification, such as Driver’s License, International passport, National I.D Card or any other acceptable means of identification
  • One passport photograph.
  • Two (2) duly completed reference forms
  • Utility bill issued within the last 3 months

5. Access bank

Individual Current Account

Features of Access bank current account

  • It requires an opening balance of N10,000
  • No minimum balance required
  • Account maintenance fee of only N1/mile
  • Various options of Debit card (based on your preference)
  • Access to internet and mobile banking
  • Availability of cheque book
  • Allows direct debit instructions
  • Third-party transactions are allowed
  • Transactions are charged (at bank’s approved rate)

Benefits of Access bank current account

  • Access to overdraft and loan facilities at competitive rates.
  • Remote access to bank account
  • Third-party withdrawals
  • Convenient & flexible account opening requirements.
  • SMS/Email alerts
  • Access to cash at any time with debit cards and ATMs

Access Current Account Opening Requirements

  • Duly completed account opening form
  • 2 duly completed reference forms
  • Means of identification such as National Identity Card, Driver’s License, International Passport or Voter’s card
  • Documentation of the customer
  • Valid proof of residence
  • Visitation report
  • BVN of signatory (or signatories)
  • Anti- Money Laundering risk assessment
  • 1 passport photograph
  • An opening deposit of N10, 000 (cheque/cash)

Access bank also runs a Community Current account, Gold Current account and Premium current account.

First Bank Current Account

The First bank Current account requires a minimum opening balance of N5,000 for individuals and N10,000 for corporate organizations. The First bank current account is open to both individuals and corporate organizations. Individuals must be aged 18 years or older to be able to open a First bank current account.

Features of First bank current account

  • Account can be operated at zero balance.
  • Limitless number of withdrawals in a month.
  • There is an account maintenance fee
  • Funds transfer and bank cheques/drafts are allowed
  • Third party transactions are allowed
  • Access to loans.
  • Issuance of cheque books

These are the best banks to open a Current Account in Nigeria.


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