Is Wema Bank A Zero Account?

Cheques, overdrafts, salary advance and a zero minimum balance all come with this highly functional account that you can open alone, with someone else or for your business. Allows cheque lodgements and withdrawals. Access to credit facilities.

Can I open a Wema account online?

You can register for your retail internet banking service by clicking here on ‘Register’ on the Wema Online Login Page. You can request for token online and pick it up at your preferred branch or have it delivered to a preferred location.

What is a Tier 3 account?

Tier 3 capital is tertiary capital, which many banks hold to support their market risk, commodities risk, and foreign currency risk, derived from trading activities. Tier 3 capital includes a greater variety of debt than tier 1 and tier 2 capital but is of a much lower quality than either of the two.

What is a Tier 2 savings account?

Tier 2 capital includes undisclosed funds that do not appear on a bank’s financial statements, revaluation reserves, hybrid capital instruments, subordinated term debt—also known as junior debt securities—and general loan-loss, or uncollected, reserves.

How much can I use to open Wema Bank account?

– Minimum account opening amount of N2,000.
– No minimum operating balance is required.
– Allows use of cheque for withdrawal by self and third parties from the account across the Wema Bank branch network.
– Allows cheque lodgments/ cheque clearing by bank on behalf of the customer.

How do I activate my Wema account?

– Dial *945*5# or *945# and select ‘account reactivation’ from the menu.
– Select the account to reactivate.
– Enter Account Officer Code (if known) or select 1 to proceed.
– Enter 945 PIN to validate the request.

What does Tier 3 accounts mean?

Tier 3 capital is tertiary capital, which many banks hold to support their market risk, commodities risk, and foreign currency risk, derived from trading activities. Tier 3 capital includes a greater variety of debt than tier 1 and tier 2 capital but is of a much lower quality than either of the two.

How much can a Wema savings account hold?

The maximum savings limit on this account is N300,000. If your balance exceeds this amount you will need to upgrade your account to a Tier 2 or Tier 3 savings account.F

Is Wema a zero account?

Cheques, overdrafts, salary advance and a zero minimum balance all come with this highly functional account that you can open alone, with someone else or for your business. Allows cheque lodgements and withdrawals.

What is a Tier 3 customer?

Tier three customers usually make up a very small percentage of a business’s customer base as these are the lifetime customers: customers who are not only loyal, but have no problem spending or investing in your company.S

How do I open a Wema account on my phone?

– A Smartphone, maybe Android or IOS.
– Access to internet connection.
– An active Email Address.
– Your registered and active mobile phone number.
– You will need to get the WEMA Alat mobile app installed, you can get it on Google play store or Apple store for IOS users.

What is a tiered savings account?

A tiered-rate account is a bank account that pays different rates of interest, depending on the amount of the funds held in it. It can be any type of account but usually is either a money market or a savings account.

What is a zero savings account?

The idea is simple – you can open a Savings Account, but you don’t have to maintain a minimum balance in it. Features of a zero-balance Savings Account: No Minimum Balance. As the name of the account implies, this is a zero-balance account. Therefore, you don’t have to maintain a minimum balance.