Access Bank New List of Approved Charges on Customer’s Savings and Current Account

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Access Bank New List of Approved Charges on Customer’s Savings and Current Account

Access Bank is one of the largest banks in Africa (by customer base) and a Nigerian Multinational Commercial bank licensed by the Central Bank of Nigeria; it has turned out to be the largest Bank in Nigeria (by assets).

The bank recently released a new list of approved charges on the customer’s savings and current account. It made a list of approved charges that will apply to financial transactions below N50,000 and those above it.

Also Read The Tips to Secure Your Bank Account; Access Bank Provides Customers with Tips on How to Secure Bank Accounts.

Also, a list of charges for the savings account will apply to actions or activities in the account. Do you want to know about these charges and the financial activities that may attract them? Read on to get the detailed gist.

Access Bank list of Approved Charges for Personal Savings Account

Here is the list of approved charges for the personal savings account:

Type of ServiceService Charge
Quarterly Card maintenance feeN53.75
Electronic Money Transfer (above N50,000)N50
Account RestrictionsN/A
Transactional SMSN4/SMS
Card Issuance fee (if requested for)N1,000
Electronic Money Transfer (within N50,000 to N5,000)N25
Electronic Money Transfer (below N5,000)N10

Note:

  • Interests will not be earned if you make more than four monthly withdrawals.
  • Electronic money transfer fees are charged on all electronic transfers of money deposited in a bank or financial institution, on any account, in the sum of N10,000.00 and above.

Also, See The Top 10 Profitable Business Ideas to Start as a Student With Zero Capital

Approved Charges for Personal Current Account

Type of ServiceService Charge
Account Maintenance feeN1 per mille
Electronic Money Transfer levyN50
Transactional SMSN4/SMS
Debit card maintenance feeN/A
Monthly Maintenance chargeN/A
Cheque Book Charge (VAT inclusive)25 leaves = N806.25
50 Leaves= N1,612.50
100 Leaves= N3,225

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Approved Charges for Business and Corporate accounts

Type of ServiceService Charge
Electronic money Transfer feeN50
Transactional SMSN4/SMS
Debit card Maintainance feeN/A
Interest Rates: Less than ₦51 million0.0%
                      ₦51m- ₦100m0.75%
                      ₦101m – ₦200m1.25%
                      ₦201m – ₦400m1.50%
                      ₦401m -₦500m1.75%

 

Other Approved Charges

Type of ServiceService Charge
Naira card maintenance fee (Quarterly)N50+ N3.75 VAT
USD card maintenance fee (Annually)$10
Card Issuance fee (Naira)N1,000 + N75 VAT
Card Issuance Fee (USD)USD equivalent of N1,075
Card re-issue or replacementN1,000 + N75 VAT or its USD equivalent
Nairacard ATM withdrawals (Internationally)N420
USDcard ATM withdrawal (Internationally)$3 per transaction
Cost of Hard tokenN2,500
Cost of Soft TokenN1,500

The comprehensive details of the Access bank-approved charges are found here.

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