baridamhoney:



So are u saying that it I only my id card that will be required to upgrade my account to accommodate millions and can it be done at any branch?

okenwa:
Deposit the money piece by piece. Or give different depositors to lodge the money into the account

andersonbaba:
A friend of mine has a Savings account and he plans to use it for land transaction worth about 10million naira. the questions now are;
1. can 10 million naira be deposited in a savings account without query?

2. will he be able to make a withdrawal from the individual savings account without being arrested bt security operatives ?

3. will his account be frozen for some policies reason and where that happens, will he still be able to access his hard earned cash?

4. is there anything like maximum cumulative balance and if there is what is the maximum balance for a savings account

andersonbaba:


no sir. 100k has been deposited into the account before. furthermore, the owner only want to use his personal account for a sale of land transaction

bayulll011:


Let me help here as ex banker.

We banks we av differents products,ranging from early savers,solo account,standard savings currents accounts individual,current accounts savings tier 1 nd tier 2 respectivelly,the onion here is to open an account with a complete documentations,for saving account standard u will need a valid I'd and ultulity bills,unlike for solo accounts which is for students,tier one and tier 2 no needs of valids I'd and there will be limit to amount of money you can pay into such accounts,if u open a tier 2 or tier 1 expects to do a transactions less than a million,anyday u drop cash more than a million a PND (post no deposit) will be placed on the account then u will be asked to produced some documents to migrates the account.also why will u deposite a 10m in an account that all the year u runs the account the largest deposit u ever made was 20k,re u funding terrorist ?

thunderbabs:
The truth is if dt savings account hs never in its entire life had a balance of N1Million, your account will be frozen until you can provide some documents and i.ds as requested by the bank.

Divinerace:

if they freez my saving account will they unfreez it
Pls answer me i ugently need ur replies!

shady16:


That's not true.... I've had more than that in my saving account and no one asked me nonsense.

Pieromania:
it depends on the document he used in opening the account,if he opened a regular account with normal valid id card,like national id card,international passport,or driver's license,he cn operate millions.
Bt if it is nt a regular accnt then he has to upgrade the account to be able to accommodate such amount.

thunderbabs:


Well, that's true coz it happened to me. And maybe you opened ur acct wit any of intl pprt, or natl i.d card buh i didnt open my acct with either of those i.ds.

ringi82:
If na access bank savings account don't try it o! Na common 100k I deposited in that account wey them block am. They placed a PND on my account. They said I can't deposit more than 20k in my savings! Can you imagine!

advanceDNA:


Ur number 1 answer is wrong....enter into any banking hall..theres a frame placed in every bank called STR / CTR... suspicious/ currency transaction reporting....all deposit in excess of 5M for individual nd 10M for company accounts is reported to CBN nd NFIU(Nigeria financing intelligence unit).... so he needs to break it into more than 2 units...


No2... he can withdraw..but they will give him some stress...but if he can show some evidence of the land sale like receipt and agreement just to make them comfortable...that will do just fine...so far he's not trying to withdraw the whole 10M at once...

No3..his account could be frozen depending on the kind of account he opened...there are 3 levels of saving account..if it's level 1 or 2 he opened which cumulative balance . 100k nd 400k respectively then it will be frozen once 10M hits the account...so he will need to submit extra document to convert the account to standard level 3 savings account. KYC would be carried out..b4 he can then withdraw..
No 4...there are 3 levels of savings account..
Level 1..u open with just a passport photograph highest single deposit is 50k cumulative balance is 100k
Level 2..opened with a photograph and any kind of bloody ID card...highest single deposit is 100k maximum balance is 400k...
Levek3...the standard Savings account..opened with valid ID..pasport, nd phcn bill...pay a u like..withdraw as u like..
But all kinds of accounts weda Sav or current is still subject to the CT and STR policy...
So OP should know his level b4 he will go and credit 10milla inside one yeye account.....bankers are not nice when it comes to suspicious entry..they will tell u straight up..we know it's ur money but u can't just withdraw at the moment...

Malayy:
that's the thing. I'm also going through the same thing. I opened this account in school without I'd card. and last month, I paid 51k in it.. when I went there next week, I couldn't withdraw. I was told that I paid above the limit. and before I can get my money, I will to present any valid I'd card and nepa bill. and I don't valid I'd card. my only option now is to go for international pass. and I will open a proper account with it..

Pieromania:
U CN GO AND REGISTER FOR NATIONAL ID CARD,AND COLLECT THE SLIP,USE THE SLIP TO UPGRADE UR ACCOUNT.U CN GET THE SLIP INSTANTLY OR AT MOST WITHIN A WEEK.
U CN ALSO GO FOR DRIVER'S LICENSE,U CN HAVE IT IN A MONTH TIME AFTER REGISTRATION.
BT NOTE,WHEN REGISTERING FOR ANY OF THE ID CARD,MAKE SURE U USE THE SAME NAME USED IN OPENING THE BANK ACCOUNT INCLUDING THE MIDDLE NAME AND DATE OF BIRTH.IF U USE ANY INFORMATION DIFFERENT IN UR ACCOUNT STATEMENT,IT WON'T BE ACCEPTED

Malayy:

I have registered for national I'd, and I have the slip. when I went there with it, the customer care lady said she can't access my account that slip.

Pieromania:
they issue 2 types of slip after registration,the first slip wil be issued immediately after registration,it is like a photocopied slip,u cnt use that if that is what u have.
The second slip is issued a wk-a month after registration,it is a coloured slip with serial number,u cn use that to upgrade it wil be accepted by any bank,that is ur national id card,it may be a slip,what is needed is the information on it and serial number of the card,evn if u finally collect the permanent one,it is the same information on the slip that wil be on it.
No bank wil reject the slip if u have it,if u dnt have it go to the place u registered to request for it,go wit d first slip u collected to claim the original slip

missuniverse:
I dont think so,
I ve both slip...as a matter of fact, it was issued same day...
sme tym in 2013 I was requested to make an upgrade to my gtb account; in absence of my natl I.d, I went with both slips but twas rejected...(they insisted on an I.D, not sme paper)

although during my reg in 2012, I was told dat I could use one of d slips(d one dat comprises d serial number ofcos) for my transactions, however it doesn't really work dat way...

and d so called id card is not ready till date

Malayy:
bro my own is 51k. they ordered me to provide I'd and any utility bill before I can get my money. I will get int. passport Jan, and get my money back..

bayulll011:


Let me help here as ex banker.

We banks we av differents products,ranging from early savers,solo account,standard savings currents accounts individual,current accounts savings tier 1 nd tier 2 respectivelly,the onion here is to open an account with a complete documentations,for saving account standard u will need a valid I'd and ultulity bills,unlike for solo accounts which is for students,tier one and tier 2 no needs of valids I'd and there will be limit to amount of money you can pay into such accounts,if u open a tier 2 or tier 1 expects to do a transactions less than a million,anyday u drop cash more than a million a PND (post no deposit) will be placed on the account then u will be asked to produced some documents to migrates the account.also why will u deposite a 10m in an account that all the year u runs the account the largest deposit u ever made was 20k,re u funding terrorist ?

hoyze24:

Any idea how long it takes to upgrade account into standard savings account with zenith bank? Also, is there a maximum withdrawal limit?

oluplus:
Dear OP, there is no maximum limit placed on a fully KYC tier 3 saving account, so no need to worry. My only concern is we will ask questions. We may not be interested in what the money is meant for but more concerned about the source of the money. We will definitely flag it as a suspicious transaction since such an inflow is entering the acct for the first time. It must be reported to regulatory authority so as avoid being sanctioned.
You should also ensure that your Bvn is in place and must be the same with your acct details. (name and DOB). With this., you will be fine.
God bless

advanceDNA:


Ur number 1 answer is wrong....enter into any banking hall..theres a frame placed in every bank called STR / CTR... suspicious/ currency transaction reporting....all deposit in excess of 5M for individual nd 10M for company accounts is reported to CBN nd NFIU(Nigeria financing intelligence unit).... so he needs to break it into more than 2 units...


No2... he can withdraw..but they will give him some stress...but if he can show some evidence of the land sale like receipt and agreement just to make them comfortable...that will do just fine...so far he's not trying to withdraw the whole 10M at once...

No3..his account could be frozen depending on the kind of account he opened...there are 3 levels of saving account..if it's level 1 or 2 he opened which cumulative balance . 100k nd 400k respectively then it will be frozen once 10M hits the account...so he will need to submit extra document to convert the account to standard level 3 savings account. KYC would be carried out..b4 he can then withdraw..
No 4...there are 3 levels of savings account..
Level 1..u open with just a passport photograph highest single deposit is 50k cumulative balance is 100k
Level 2..opened with a photograph and any kind of bloody ID card...highest single deposit is 100k maximum balance is 400k...
Levek3...the standard Savings account..opened with valid ID..pasport, nd phcn bill...pay a u like..withdraw as u like..
But all kinds of accounts weda Sav or current is still subject to the CT and STR policy...
So OP should know his level b4 he will go and credit 10milla inside one yeye account.....bankers are not nice when it comes to suspicious entry..they will tell u straight up..we know it's ur money but u can't just withdraw at the moment...

bayulll011:


Let me help here as ex banker.

We banks we av differents products,ranging from early savers,solo account,standard savings currents accounts individual,current accounts savings tier 1 nd tier 2 respectivelly,the onion here is to open an account with a complete documentations,for saving account standard u will need a valid I'd and ultulity bills,unlike for solo accounts which is for students,tier one and tier 2 no needs of valids I'd and there will be limit to amount of money you can pay into such accounts,if u open a tier 2 or tier 1 expects to do a transactions less than a million,anyday u drop cash more than a million a PND (post no deposit) will be placed on the account then u will be asked to produced some documents to migrates the account.also why will u deposite a 10m in an account that all the year u runs the account the largest deposit u ever made was 20k,re u funding terrorist ?

wiloy2k8:
3 billion