When starting up a business, creating a business account should be one of the foremost things to pen down on your “To do” list. Even if you have started the business already and have been processing your transactions with a personal account, it is advised that you get a business account. There is no enterprise that doesn’t need a business account; you might even be wondering how to open a business account in Nigeria, so you are on the right track.
Professional ventures, small business owners, and whatever profitable venture have you. Banking with the best banks for business accounts in Nigeria will go a long way in relieving you of some unnecessary financial stress.
Business accounts are best for book-keeping, financial accounting, auditing, and tax reporting, among other necessities. No one wants to be left unattended on the bank premises just to open a business account.
The top 10 best banks for business accounts in Nigeria as we have listed below are some of the best banks in Nigeria for business owners and private corporations. These banks are licensed and regulated by the Central Bank of Nigeria.
Some of these leading banks in West Africa are managed by the Richest Bank CEOs in Nigeria and some of the richest people in Nigeria.
Top Ten best banks to open a business account in Nigeria
Below are the Top 10 Best Banks For Business Accounts In Nigeria
- Guarantee Trust Bank (GTBank)
- Zenith Bank PLC
- First Bank of Nigeria (FBN)
- Access Bank
- United Bank For Africa (UBA)
- Wema Bank
- Keystone Bank
- Standard Chartered Bank
- Heritage Bank
1. Guaranty Trust Bank PLC
Guaranty Trust Bank or GTBank is an indigenous Nigerian bank and also the best commercial bank to start your business accounts. Though it was founded as an indigenous bank in Nigeria by Fola Adeola and Tayo Aderinokun on 17th, January 1990, it has gained global recognition as a well-performing financial institution. GTBank is rated as the best bank in Nigeria because of some of its financial services like corporate banking, business banking, resource management, retail banking, and internet banking, among others.
GTB is a top-notch online banking platform that enables easy and convenient customers services. You no longer need to visit their bank branches before you can make transactions or operate their bank account. GTBank is rated among the best banks in Africa and the best banks for business accounts in Nigeria; with banking operations from 10 African countries.
Guaranty Trust Bank offers the following kinds of business accounts: GTB Business account, GTB Domiciliary account, GTBank Current account, and GTMax account.
Guaranty Trust Bank offers business banking services that allow its new and existing customers access to USSD codes for business banking, internet banking, and SME banking. Online transactions with GTBank can be done through the official GTBank website or via the GTBank App. For offline transactions, the GTBank USSD Code is “*737#”.
2. Zenith Bank
Zenith Bank PLC is another one of the leading commercial banks in Nigeria. It is a large financial service bank established in 1990 Zenith bank branches are located in the Anglophone countries of West Africa. Zenith bank is a Nigerian bank and arguably the major financial institution in West Africa.
Zenith Bank is popular and one of the best banks for business accounts in Nigeria; because of its well-structured online banking services. Being one of the best banks for business accounts in Nigeria, it is recognized on the Nigerian and London stock exchange markets.
Zenith Bank is regarded as one of the best banks in Nigeria, owing to some of the business banking services that they offer. The business accounts for organizations managed by Zenith Bank include Enterprise account for a sole proprietorship, Limited Liability Company account, Partnership accounts, and business accounts for clubs, societies, and associations.
Zenith bank helps her existing customers get aid for trade and financial services. Local and foreign-based businesses are guaranteed profits on their earnings when they bank with Zenith Bank. It is currently one of the most reliable banks to open a business account in Nigeria.
Zenith Bank is listed on Nigeria Stock Exchange and also on London Stock Exchange, the bank is one of the largest and richest banks in Nigeria as it is loved by everybody, no matter the age bracket or the area you find yourself in. The USSD code for Zenith Bank offline services is “*966#.”
3. First Bank of Nigeria (FBN)
First Bank Of Nigeria PLC is Nigeria’s oldest bank and has been operating since 1894. First Bank Nigeria was launched in 1979. First Bank is not just the best bank for business accounts in Nigeria but also the best bank for retirement accounts in Nigeria.
FirstBank is a successful financial institution with the best banking services cutting across over 750 business locations through the African continent, Johannesburg, the UK, Abu Dhabi, and Beijing.
FirstBank Nigeria used to be the best bank in Nigeria before the advent of the GTBank. FBN assists her corporate customers with the best business banking services to select when opening a business account.
The following are the business accounts in the First bank: First Bank current account, First current plus account, First premium term deposit, Fixed deposit account, and Domiciliary account. With the variety of business accounts in the First bank, business owners are assured of a quick response to their customer’s financial needs.
The modern banking method of FirstBank rated them among the best banks in Nigeria. The offline FirstBank USSD code is “*894#.”
4. Access Bank Nigeria PLC
Having obtained Diamond bank in 2019 through their ownership of major shares in the financial institution, Access Bank Plc is fourth on the list of the best banks for business accounts in Nigeria and was established in 1989.
Access bank is one of the best banks for business accounts in Nigeria that is available for the creation of business accounts. It is one of the best Nigerian Banks to start a business account. Some of their business accounts services include The Gold Current account, The Domiciliary account, The Corporate account, and the MPower Biz account.
Access Bank is one of the top largest banks in Nigeria with about 309 branches in Nigeria and an estimate of 5.7 million customers. It is also the largest bank in Africa based on assets and also one of the most popular banks in Nigeria due to its exceptional performance and quality customer service. Access bank merited this rating and is unavoidably one of the best banks for business accounts in Nigeria.
5. United Bank For Africa (UBA)
United Bank for Africa (UBA) Plc is one of the best banks to start a business account in Nigeria. UBA currently operates financial services in 20 African countries and financial institutions beyond the African Continent like Paris, London, and New York. This top bank is one of the best banks in Nigeria and the best financial institution in Africa.
UBA is a leading pan-African financial institution with excellent customer care, convenient mobile banking, and smooth running online banking services among other banking institutions in Nigeria. UBA is one of the best banks for business accounts in Nigeria with corporate banking services for business accounts like UBA Professional accounts for freelancers and professionals, Self-employed current accounts, Regular UBA current accounts, and Diaspora/Expatriate accounts for foreigners.
With UBA provides customers with services like Savings Accounts, Domiciliary Accounts, Current Accounts, Mobile Banking, Money Transfer, Debit Cards, Corporate Banking, Wholesale Banking, Consumer Banking, Non-Resident African BankingTreasury, Trade, and Investment Banking.
6. Wema Bank
Wema Bank is one of the leading financial institutions in Nigeria based on its internet banking and commercial banking services in Nigeria. Wema Bank is one of the largest banks in Nigeria based on company assets and customer base. The business account services in Wema Bank are very profitable for individuals looking forward to investing in the commercial banks in Nigeria. You cannot complete a list on the best banks for business accounts in Nigeria without Wema Bank coming into the picture.
With a business account, you can save money with Wema Bank and be assured of numerous financial benefits. The business accounts available in Wema Bank include the My Business account, My Business account plus, Corporate account, Wema treasure account business, Alat by Wema for business, and Domiciliary plus account.
Also on the SME banking plan, business clients are connected for mixed business transactions. Another reason why they are unarguably one of the best banks for business accounts in Nigeria.
7. Keystone Bank
Keystone Bank Limited is a new generation bank licensed as a commercial bank in Nigeria. It is currently one of the best banks for business accounts in Nigeria. Being one of the largest banks in Nigeria, Keystone Bank offers businesses, business owners, SMEs large organizations, and corporations top-notch financial services.
Keystone Bank is a Nigerian commercial bank and one of the best banks for business accounts in Nigeria, that has built a reputation of excellence in customer services both online and offline, through the Keystone mobile app and USSD codes services.
8. Standard Chartered Bank
Standard Chartered Bank is one of the best banks for business accounts in Nigeria for opening a corporate account. The headquarters of the Standard Chartered Bank is located in London. The banking services in Standard Chartered Bank are the most endearing for corporate and business banking. There are numerous banking options in the Standard Chartered Bank for business owners who wish to open a business account in Nigeria.
Standard Chartered Bank is one of the best banks in Nigeria and also one of the oldest banks in Nigeria to have reached global banking standards. This is one commercial bank in Nigeria that has continued to acclimate with success over the years.
9. EcoBank Nigeria Limited
Ecobank Nigeria is one of the best banks for business accounts in Nigeria. It is also a popular commercial bank in Nigeria established in 1989 with its headquarters located in Lagos.
EcoBank like FirstBank is one of the oldest banks in Nigeria with bank branches all across Nigeria. The business accounts in Ecobank are best for retail businesses, wholesale services, investments, regular banking transactions, and corporate services. Ecobank is also preferred by salary earners and is currently one of the best banks for business accounts in Nigeria.
10. Union Bank of Nigeria
Union Bank of Nigeria PLC is also among the oldest commercial banks in Nigeria and began operating in 1917. Union Bank of Nigeria is the most trusted bank in Nigeria because it implements modern standards. Union Bank of Nigeria is also one of the best banks to open savings accounts in Nigeria. Not just for savings accounts, it is also rated among the best banks for business accounts in Nigeria for business operations.
Getting a business account for your organization or business venture is very beneficial in immeasurable ways. The best banks for business accounts in Nigeria as we have mentioned above are currently the best financial institutions that you can trust your company finds with.