Wema Bank Account Types

Wema Bank offers three main types of accounts for its customers: Tier 1, Tier 2, and Tier 3 accounts. Each account type has its unique features, benefits, and limitations, allowing customers to choose the one that best suits their financial needs.

Tier 1 Account

• Maximum Single Deposit: ₦50,000
• Maximum Account Balance: ₦300,000
• Features:
• Zero minimum opening balance
• No minimum operating balance
• Interest rate equal to existing savings account rate
• E-dividend lodgment allowed
• Requirements:
• Bank Verification Number (BVN)
• Completed account opening form
• 1 passport photograph

Tier 2 Account

• Maximum Single Deposit: ₦100,000
• Maximum Account Balance: ₦500,000
• Features:
• Zero opening balance
• No minimum operating balance
• Interest rate equal to existing savings account rate
• E-dividend lodgment allowed
• Requirements:
• BVN
• Completed account opening form
• 1 passport photograph
• Valid means of identification (e.g., National ID, Voter Card)
• Utility bill issued within the last 3 months

Tier 3 Account

• Maximum Single Deposit: ₦5,000,000
• Maximum Account Balance: Unlimited
• Features:
• Zero opening balance
• No minimum operating balance
• E-dividend lodgment allowed
• Requirements:
• BVN
• Completed account opening form
• 1 passport photograph
• Valid means of identification (e.g., National ID, Voter Card)
• Utility bill issued within the last 3 months
• KYC verification

Wema Bank Broker Account Opening Process

Opening an account with Wema Bank is a straightforward process that can be done via online platforms, the Alat app, or USSD code. Heres how to do it:

Online Account Opening

• Visit the Wema Bank Website: Go to the official Wema Bank website.
• Click on "Open Account": Locate the "Open Account" button on the homepage.
• Choose Account Type: Select the type of account you wish to open (Tier 1, Tier 2, or Tier 3).
• Fill in the Application Form: Provide personal details including name, date of birth, and contact information.
• Upload Supporting Documents: Submit scanned copies of required documents (ID, utility bill, etc.).
• Review and Submit: Double-check your information and submit the application.
• Verification Process: Wema Bank will review your application and may contact you for additional information.
• Account Activation: Upon approval, you will receive your account number and further instructions.

Alat App Account Opening

• Download the Alat App: Install the Alat app from the Google Play Store or Apple App Store.
• Launch the App: Open the app and click on "Open an Account".
• Provide Personal Information: Fill in your details as prompted.
• Verify Your Phone Number: Enter the verification code sent to your phone.
• Upload Supporting Documents: Upload necessary identification documents and a passport-sized photograph.
• Agree to Terms: Accept the terms and conditions.
• Account Confirmation: After submission, you will receive a confirmation message once your account is approved.

USSD Code Account Opening

• Dial USSD Code: Dial *945# on your mobile phone.
• Follow Prompts: Select the option to open a new account and provide the required details.
• Verify Identity: Enter your BVN for identity verification.
• Set Up a Secure PIN: Create a 4-digit PIN for secure access.
• Account Confirmation: You will receive an SMS with your new account details.

By following these steps, you can easily open a Wema Bank account that suits your banking needs.