Banks that operate zero account in Nigeria

Read all about the banks that operate zero account in Nigeria.

The Central bank of Nigeria (CBN) has given a directive to banks to allow customers open bank account without needing to deposit and money.

Some banks have followed this directive and now allow people to open a bank account with no minimum account opening amount & zero operating balance.

This will help in CBN’s goal to have a cashless economy, as well as aiding the underbanked areas in the country.

In this post, I am going to be writing about the banks that operate zero account in Nigeria and more. Remember to leave us a comment after you finish reading and also share with your friends on social media.

Let’s get into it then…

Read my post on how to open GTbank account

What is a zero account?

A zero account means that you are not required to make any deposit in order to open an account. Usually when opening a bank account, there is usually a minimum account opening amount that you will need before your bank account can be opened.

There is also usually a zero minimum operating balance, this means that you can withdraw all the money from your bank account to zero, and it is not required that there be a certain amount in your bank account.

Banks that operate zero account in Nigeria

GTbank

GTbank allows you to open a zero account for both savings & current accounts. There is also a minimum operating balance of zero, which means that, you do not need to have any minimum amount in your account balance always.

To open a GTbank account, you will need to provide the required documents like passport photograph, valid ID, Utility bill and also fill the account opening form with all the required details like your name, phone number, email address etc.

Zenith bank

Zenith bank is another bank that allows you to operate a zero account. You do not need to deposit any money when opening a zenith bank account and also you are not required to have a certain minimum amount of money in your account at all time.

You can decide to withdraw every single penny from your zenith bank account.

To open a zenith bank account, you will have to provide the required documents like Valid ID card, passport photograph, utility bill and also fill the account opening form with your personal details like name, phone number, email address etc.

UBA

UBA is another bank that allows you to open a zero account. You do not need any money to open this type of account, and there is no minimum operating account balance, meaning you do not need to have a minimum amount of money in your account to keep it operational.

To open a UBA account, you will have to provide the required documents like Valid ID card, passport photograph, utility bill and also fill the account opening form with your personal details like name, phone number, email address etc.

First bank

Read my post on how to open a zenith bank account

First bank also allows you to open a bank account without any amount of money, although there might be a minimum operating balance of 100 naira, meaning that you cannot have less than 100 naira on your first bank account.

You can open a first bank account with the first bank USSD, from the first bank mobile app or by visiting the nearest first bank branch with all the required documents.

Union bank

Union bank operates an account for students and youth corpers, which allows you to open an account with zero account opening balance and also a zero minimum operating balance, i.e. you do not need to have a minimum amount of money in your account to keep it operational.

To open a Union bank account, you can will need to visit the nearest Union bank branch with all the required documents.

Summary

With the above, you should now know the banks that operate a zero bank account in Nigeria. If you need further information, then don’t hesitate to leave us a comment or visit our contact us page and we will get back to you as soon as we possibly can.

Conclusion

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