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Wema Bank Tier 1, Tier 2, and Tier 3 Account Limit
Wema Bank is one of the most resilient banks in Nigeria with decades of experience in the business of banking, providing financial solutions to Nigerians. The bank has remained innovative in delivering value to its stakeholders and also constantly introducing products and services to meet the needs of its customers at every stage of their lives. In addition, the bank boasts of being a proud partner to over one million individuals, families, and businesses across Nigeria, helping them achieve their personal and financial goals.
Wema Bank uses the three-tier banking system as a series of levels to structure and place limitations on customer accounts. Each Wema bank account tier has its own requirements, benefits, and limitations which allow you to operate a certain amount of money in your account.
However, customers can always open any type of account with Wema Bank and later upgrade their account to meet their needs, easily by providing the required documents such as BVN, utility bill, NIN, and KYC requirements. Do you want to know about Wema Bank’s tier 1, tier 2, and tier 3 account limits, then you are in the right post. Let’s dive in…
Wema Bank Tier 1 Account
Wema Bank tier 1 account is a bank account that can be created with the last account opening requirements. Moreover, this type of account can be opened from anywhere, simply by providing your personal details such as first name, last name, sex, date of birth, phone number, and photograph. However, the Wema Bank Tier 1 account has a maximum single deposit of N50,000 and a maximum account balance of N300,000.
Wema Bank Tier 2 Account
Wema Bank tier 2 account is a bank account that can be created with minimal requirements such as BVN, personal information, and an ID card. This type of account is similar to the tier one account in the sense that the account opening documentation is usually few. However, you can upgrade your tier 1 account to tier 2 by providing the necessary documentation. The account has a limit of N200,000 single deposit and a maximum account balance of N500,000.
Wema Bank Tier 3 Account
Wema Bank tier 3 account is a high-level account that requires top-tier KYC procedures. To open this type of account you will need to provide all the necessary documents but you can also upgrade to tier 3 from the comfort of your home through the ALAT app if you already have an existing account. However, the account has a limit of N5,000,000 single deposit and the maximum account balance is unlimited. This means that there is no limit, you can receive any amount of money into the account and transfer any amount of money.
How much can a Tier 1 Alat account hold?
Alat Tier 1 account has a limit of N50,000 single deposit and a maximum account balance of N300,000.
Is there a limit on Wema Tier 3 saving account transfers?
There is no limit to transfer on a Wema tier 3 saving account.
What is the difference between Tier 1 and Tier 2 and Tier 3 accounts?
The major difference between these accounts is the required documentation and the limit placed on the account.
Conclusion: Wema Bank Tier 1, Tier 2, and Tier 3 Account Limit
With the above, you should now know all about Wema Bank tier 1 account limit, Wema Bank tier 2 account limit, and Wema Bank tier 3 account limit. Thank you for reading this post and I hope you were able to get a lot of helpful information. Please share with your friends and family and also drop us a comment or suggestion.