Frequently Asked Questions : Premier Current Account
Who can use an Access Premier Account?
Individuals, Upper LIP, MIP, HIP
A Customer Wants to Close his Current Account Premier Because he Cannot Maintain N100,000 as Minimum Daily Balance in the Account. What Option is Available for the Customer Besides Closure?
The current Account premier can be migrated to an individual current account, where he/she can have access to his/her funds.
Does this Account Attract Interest Payment, and at What Rate?
Yes, the interest on the account is 0.1% per annum.
What is the Minimum Amount Required to Open Current Account - Premier?
N100,000 only
What is the Minimum Threshold Balance Required?
N100,000 minimum daily balance
Is there a Monthly Charge Attached to Operating the Account?
Yes. There is a N500 monthly maintenance charge on all Current account - Premier accounts.
Since it is a Current Account, how Much Cot would I be Expected to When I Make Withdrawals?
The account is COT free, subject to minimum balance of N100,000 in the account. Should in case customer go bellows N100,000, account maintenance fee of N1/mille will be charged on debit transactions for the month.
Can Customers Issue Draft on the Account?
Yes. The customer would not be charged COT as long as the minimum balance threshold is not defaulted.
Is there a Penalty if the Account goes Below the Minimum Threshold Balance?
Account maintenance fee of N1 per mille would apply on all the withdrawals carried out in that month.
Is there a Limit to Which I Can Make Withdrawals on this Account?
There is no restriction on the number of withdrawals for this account.
Is Current Account Premier a Savings or Current Account?
Access Premier is an enhanced current account, with interest benefits, designed to suit the needs of individuals.
