HB STARTER ACCOUNT
This is the CBN KYC Tier 1 savings account designed to cater to those referred to as unbanked. These are basically Financially Excluded Persons (FEPs) such as;
- Individuals in informal employment personal security guards, cooks, valets, petty traders, small time farmers, vulcanizers, mechanics, labourers, tricycle operators, garage boys, bus conductors etc.
- Uneducated individuals performing menial tasks.
- Individuals above the age of 18 with no statutory means of identification,
- Rural dwellers
REQUIREMENTS FOR OPENING
- Account Opening Balance of 2,000
- N1, 000 Minimum operating balance
- Single Deposit Limit of N50,000
- Maximum cumulative balance of N300,000 at any point in time
- No ID
- No KYC required
- Passport photograph
- Only basic information required:- Name, Place and date of birth, gender, address and telephone numbers registered with any of the Mobile Companies.