Firstbank’s Zero Maintenance Cost On First Current Plus Account Excites Customers

Banking has over the years become more simpler with the entrance of technology in the financial industry. As banks race to attract more customers to themselves and be in the lead in the financial industry, recourse is being made to core competence, innovation, and boldness to explore and satisfy the specific needs of bank customers as these industry leaders cover new grounds in Nigeria, other parts of the African continents, and Europe.

More banks are developing products that are specifically tailored to meet the specific needs of individuals and corporates, that are either customers or those they are intending to woo as new customers.

In a market whereby products are innovated for savings account holders’, FirstBank has provided a simple current account that can offer customers all that is needed to manage funds and day-to-day transactions with zero account maintenance charges

To this end, First Bank of Nigeria Limited has revamped its First Current Plus (FCP) account which is designed to meet the specific needs of high net-worth Individuals, affluent as well as upcoming individuals, offering zero account maintenance charge to individual customers.

The First Current Plus account is a simple current account that offers customers all that they need to manage their funds and day-to-day transactions without account maintenance charges, giving customers the opportunity to bank hassle-free.

To ensure that the product can be accessible for more of its customers and intending customers, FirstBank had reviewed the minimum and operating balance of the account from N500,000 to N50,000 for individuals.

According to FirstBank, the First Current Plus account offers zero-annual maintenance cost (AMC) as a unique value proposition to the market with customers enjoying 10 free withdrawals a month across all channels including withdrawals through alternate channels withdrawals such as ATM, POS terminal, Online/Internet Banking, etc.

This means that in any month that more than 10 withdrawals are made, default AMC is applied at prevailing rate on total withdrawal made. Hence, excess over the withdrawal limit of 10 will attract AMC at N1/mille and applied on total debits on the account for that month.

Customers using the account are also entitled to a free initial cheque book and they would have no restriction on the number of withdrawals across all channels, whilst having access to the bank’s digital platforms for fast and convenient banking experience.

First Current Plus account holders get access to internet and mobile banking, a debit card , SMS and e-mail alerts (at the prevailing fee), a cheque book as well as access to quick banking services via USSD for individuals.

To open the First Current Plus account, which is open to individuals such as traders, salary earners, high net-worth individuals, customers in the Diaspora, one will need a valid means of identification (Driver’s License, National ID Card, voter’s Card or International Passport) alongside the duly completed application form, valid proof of address of residency e.g. Current Utility Bill not exceeding 3 months, two passport size photographs of the applicant and two satisfactory references.