₦airaland Forum

dottozil:
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dottozil:
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Openbusiness4:
STANBIC IBTC everyday of the week, every month of the year, every year and leap year till infinity.

Beblessedbaba:
Really

Beblessedbaba:
Standard chartered bank straight ..

dottozil:
Available

eksammy:
The choice of a bank depends on the type of business you are doing, what you want out of the business account and even your location.

All banks are the same and offer the basic savings and current accounts.

However, most of them now add features and flesh to make it look like theirs is different or any better.

Again most banks have a niche or target market in which they operate or have comparative advantage.

Home or Abroad-focused : For example if you are a distributor of a foreign multinational or a corporate looking to do international business, it will make sense to consider standard chartered, zenith, stanbic cos your foreign partners may be familiar and more comfortable with these intl brands. Some banks make importation easy while others can kill your business with too many requirements. Some banks sell dollar cheaper while others will never even have. So do your homework well and choose wisely.

Target market: Again if your business is retail and focuses a lot on youth and tech savvy population, GTB and surprisingly firstbank will be the places to consider cos a lot of youth bank with them. Nothing beats giving someone an account number in the same bank he banks.

Location: Your location also is a factor cos some banks in Nigeria have some areas of strength. Fidelity and Diamond Access are really popular down south, and Keystone and Jaiz (i suspect) should be good up north. So if your customers will be paying in mostly from Onitsha or Aba, you need to research a bank that is readily available for them.

Crowdiness: You dont want to be spending hours in the bank. Think well and look at your type of business. If your business needs you to be depositing large amounts of cash frequently, you may consider a bank with less customers like...oh no i really dont want mention any bank in a negative way, but hey not having plenty customers and less crowded banking calls can be an advantage.

Cost/charges: Some banks have a lot of freebies and even allow you run the traditional current account (free) .i.e without charging you the traditional COT (N1 for every 1,000 you withdraw). But some will find ingenious ways of going beyond the COT to make money off you. So if you are not so cost-sensitive you can look to ecoban, Access, zenith but if you want to get cheap transaction fees gtb, fidelity, sterling etc have some loopholes that you may like to explore.

There are a lot of things you'd have to consider before choosing a bank to partner with. If you share more info, you will get more tailored advise. Some banks are even women-friendly while some are even risk-friendly and so may be more likely to give you loan when you need it.

Choosing a bank these days maybe as important as choosing your club. It can even shed a light on your personality and brand.

dottozil:
Available

dottozil:
Available