How to Open Access Bank Savings Account

By Esther Owolabi on February 17, 2024

Access Bank is a multinational commercial bank. It is the largest bank in Africa by customer base and the largest in Nigeria by assets. Access Bank was originally a corporate bank and in 2012 expanded into a personal and business bank. In December 2018, Access Bank acquired Diamond Bank and on April 1 2019, both banks merged, with a new logo unveiled. With the help of technology, opening an Access bank savings account is one of the easiest things to do. You no longer need to visit the banking hall before you can open an account.

Access Bank Savings Account

An instant savings account provides options for tier 1 and tier, and you can open any of them instantly.

The features of Tier 1 savings account:

Minimum opening balance of ₦1,000
Verve card only is issued
A maximum single deposit of ₦50,000 only
Account details uploaded via the Access Bank website, branch or contact centre
Transactions are limited to Nigeria.
Interest rate of 5.625% per annum
Maximum cumulative balance of ₦300,000

Features of Tier 2 savings account:

Minimum opening balance of ₦1,000
Verve card only is issued
A maximum single deposit of ₦100,000 only
Account details uploaded via the Access Bank website, branch or contact center
Interest rate of 5.625% per annum
Maximum cumulative balance of ₦500,000
Transactions are limited to Nigeria.

With the features mentioned above, you can decide and select the account best suited to your needs and below are the requirements.

Requirements for Tier 1:

Duly completed account opening form including signature mandate section
1 passport photograph
Address verification is not required
Means of identification not required
Customer data verification is not required
BVN of signatory(ies)
AML risk assessment

Requirements for Tier 2:

Duly completed account opening form including signature mandate section
1 passport photograph
KYC documentation
Means of identification (any verifiable ID including student ID Association ID)
Valid proof of residence
BVN of signatory(ies)
Visitation report
Customer data verification with NIMC, INEC, FRSC or others where applicable
AML risk assessment

With the following information above you can proceed to download and fill the account opening form, provide the required documents and start using your new bank account.

Using the Access Bank USSD Code, you can also open an account number with your mobile phone