Q How long does it take to get my account opened?
A Within 24 hours of receipt of your complete account opening package
Q How will I know all the details concerning my new account?
A You will be issued a Welcome Letter that has all these details once your account
has been opened
Q What is the minimum amount to open this account?
A N500,000.00 (five hundred thousand naira only)
Q When can I start using my new account?
A As soon as it is opened
Q What is the credit interest payable on this account?
A Currently 2% (1% higher than the conventional savings account)
Q What is the free withdrawal limit on the Platinum Savings account?
A Platinum Savings account customers are allowed up to five (5) free branch
withdrawals per month after which they are charged on subsequent withdrawals
Q What are High transactions?
A Any withdrawal above the tenth withdrawal
Q What are the charges?
A N100 when a customer exceeds the free branch withdrawals limit and N350 when
a customer exceeds the high transactions limit
Q Do these charges apply to ATM withdrawals?
A No.
Q Do I get access to credit facilities with this account?
A No, customers cannot. This is a savings account; customers will need to open one
Of our current accounts before they can be availed credit facilities
Q What are the requirements for opening the Platinum Savings account?
A Completed application form, 1 passport photograph, minimum opening deposit of
N500,000.00, 2 references, a valid means of identification (National ID or
International passport or Driver’s license) and a copy of Proof of address
Q What is the penalty on withdrawals below the required minimum
balance?
A Interest forfeiture
Q Does the Platinum Savings allow third party withdrawals?
A Yes
Q What are the benefits of the account?
A There are numerous benefits like personalized debit cards, personalized
cheque books, higher interest rates, discounts on lifestyle benefits and
insurance products.
Q What is the cost of the withdrawal booklet?
A N500
Q What insurance products are available to Platinum Savings account
customers?
A They include (but are not limited to) Professional Indemnity, Life Assurance,
Personal Accident Insurance, Health Insurance and Travel medical insurance
Q Can Platinum Savings cheques go through clearing?
A No. The Platinum Savings account cheques are non-clearing 3rd party cheques
i.e they are payable over the counter only.
Q Are Platinum Savings account holders entitled to statement of accounts?
A Yes, Platinum Savings account holders are entitled to quarterly statement of
accounts.
