Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 - Business

Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 (26478 Views)

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Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Omihanifa(op): 3:18am On Nov 10, 2025

Financial services provider, Standard Chartered Bank has announced that effective February 28, 2026, it will no longer continue its relationship with customers who do not meet its Assets Under Management (AUM) requirement of N7.5 million.

This, the bank said, is in line with its new Emerging Affluent Segment.

In a notice to it’s customers titled:

“Important notice: Branch network and segment update,” the bank said

“accounts without the minimum balance by the deadline will be closed.”

The bank stated that under its refreshed structure, it is closing the personal banking segment under which customers are banked and introducing the AUM.

It further said effective January 15, 2026, it would be closing some of its branches in furtherance of ongoing efforts to optimize services and customer value propositions.

“These closures also build on our digitisation efforts, which commenced a few years ago, to streamline our processes, operating channels, products and service solutions, and efficiently utilise resources to suit the expectations and evolving needs of our clients,” the notice read in part.

The bank assured that following the Central Bank of Nigeria’s (CBN) minimum capital requirement or N200 billion, for national commercial banks, it remains adequately equipped to serve and support it’s customers in the fulfillment of their financial goals and aspirations.

It said its online and mobile banking platforms remain fully operational, allowing customers to manage accounts, make transactions and access a wide range of services from the comfort of their homes or offices.

The bank listed branches in Lagos, Abuja and Rivers State as those that will remain operational

https://21stcenturychronicle.com/standard-chartered-to-close-accounts-with-less-than-n7-5m-balance-from-feb-2026/

4 Likes 2 Shares

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Freshandfitpod: 3:37am On Nov 10, 2025

My assets with them is running into billions.....

27 Likes 1 Share

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by yemmit90: 5:15am On Nov 10, 2025*

Nigeria banks are gradually moving away from traditional templates. Banking jobs are seriously at risk now. With this new method, they may not need more than just 15 branches and few workers all over Nigeria.

57 Likes 3 Shares

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by FreeStuffsNG: 5:17am On Nov 10, 2025

Era of brick and mortar banks everywhere is fading. Most banks are sitting on huge real estate that's not fetching them returns while the fintechs eat into their spaces.

Standard Chartered has always been exclusive like Citibank, RMB etc. They want to focus on affluent clientele which is actually their area of strength.

123 Likes 5 Shares

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by dawnomike(m): 5:46am On Nov 10, 2025

More banks will follow this route and the common man may have to port fully to fintechs.

50 Likes 2 Shares

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Omoboricash(m): 6:21am On Nov 10, 2025

What about me with just 10k naira balance

9 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Buharidgeneral: 6:59am On Nov 10, 2025

Omoboricash:
What about me with just 10k naira balance

Welcome to Opay

113 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Kobicove(m): 7:36am On Nov 10, 2025

Job losses loading undecided

26 Likes 1 Share

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Gotocourt: 8:15am On Nov 10, 2025

Fintechs have taken over, these guys are money spinners

27 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by KingAzubuike(f): 9:00am On Nov 10, 2025

Standard chartered na big men bank normally. That's where the creme de la creme in nigeria stash their wealth.

46 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Nazgul: 9:01am On Nov 10, 2025

These people are really funny. Sometimes I think the people making decisions in Nigeria don’t actually live here. Maybe they’re just visiting us through Zoom.

How can a country where most people are earning less than 500k a month be talking about having 7.5 million naira minimum balance to keep your account active? Like are you for real.

Let’s even be honest; how many Nigerians have seen 7.5 million at once in their account before? Some people’s total life savings, business capital, and village land inheritance isn't even up to that.

At this rate, when you enter the banking hall, they might soon start checking your account balance before allowing you to sit on their chair or drink water from their dispenser.

No wonder people are running to OPAY and PalmPay like it’s Noah’s Ark. When you have sense, you adapt, but when you have greed, you lose customers. And trust Nigerians, once they see free transfers and zero balance, loyalty changes immediately.

But to be honest, 2026 no go funny at all. The economy is tightening like a new shoe. Food, rent, fuel, now even bank accounts want to join the suffering.

We really need to plan financially. Cut unnecessary expenses. Save where you can. Invest small, even if it’s in your local hustle. Because the way things are going, it's not looking funny anymore.

67 Likes 2 Shares

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Akamon(m): 9:01am On Nov 10, 2025

It's a technical way of exiting the country financial system. Or a way to attract shady saver's, the switz bank of Nigeria

15 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Bestwt001(f): 9:02am On Nov 10, 2025

Risk from every corner, lol

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Urgent1Million: 9:02am On Nov 10, 2025

My respect for SCB quadrupled during the Emefiele terror days.
Let the rich men keep going.
We are tagging along.

5 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by saphiere(f): 9:02am On Nov 10, 2025

My account with them is 6.8m

1 Like

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by kingar(m): 9:03am On Nov 10, 2025

More opportunity for opay

7 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by morikee: 9:03am On Nov 10, 2025

7m ke where i want see that make them kuku close all my accounts

4 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by omoredia: 9:03am On Nov 10, 2025

See levels. If u are too broke abeg go Wema

7 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by OlaMiki: 9:03am On Nov 10, 2025

Moniepoint or Opay or Palmpay is calling you grin

Omoboricash:
What about me with just 10k naira balance

11 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Westman001: 9:03am On Nov 10, 2025

Oloshi o r'aiye wa. Olohun!

Let's the the poor live too, standard chartered bank.

The likes of Opay and Palmpay and Moniepoint will continue to lead anyways

3 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by bmd1010: 9:04am On Nov 10, 2025

They should increase it to 20 million instead

3 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by GrammarNazi1(m): 9:04am On Nov 10, 2025

Poor people would be affected.

65 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Lukuluku69(m): 9:04am On Nov 10, 2025

Omihanifa:
https://21stcenturychronicle.com/standard-chartered-to-close-accounts-with-less-than-n7-5m-balance-from-feb-2026/

No problem. That's the Template they want to run. Others would gladly accept the closed Accounts and we all move on.

9 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by omoredia: 9:05am On Nov 10, 2025

Bank wey sweet like hotel. Nice one

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by correctyourself(m): 9:06am On Nov 10, 2025

yemmit90:
Nigeria banks are gradually moving away from traditional templates. Banking jobs are seriously at risk now. With this new method, they may not need more than just 15 branches and few workers all over Nigeria.

Ok, but without much branch bank would loss customers.

If you have issues of probate and estate you would know how important it is to have a bank that has branches close to you. Only the experienced people would understand this.

5 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by iwaeda: 9:07am On Nov 10, 2025

Let me go and close, before they close
Standard chartered should differentiate salary accounts. grin

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Helpfromabove1(m): 9:08am On Nov 10, 2025

PalmPay is dere for us
Bye byev

1 Like

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Urgent1Million: 9:08am On Nov 10, 2025

Omoboricash:
What about me with just 10k naira balance

AgbadoOkoko community mortgage bank.
You'll be a valued customer.

7 Likes 1 Share

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Lukuluku69(m): 9:08am On Nov 10, 2025

Westman001:
Oloshi o r'aiye wa. Olohun!

Let's the the poor speak too.

That's not true sir.

If Standard Chartered close the Accounts others will readily take it up.

Standard Chartered is well known for their aversion to Retail Banking. This is nothing new.

7m is a lot of money in Nigeria today even with the inflationary trend we have.

11 Likes 1 Share

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by Urgent1Million: 9:09am On Nov 10, 2025

saphiere:
My account with them is 6.8m

Lend me 5 million please, let me use it to complete my own. I have 2.5 million with them.

2 Likes

Re: Standard Chartered To Close Accounts With Less Than N7.5m Balance From Feb 2026 by delzbaba(m): 9:09am On Nov 10, 2025

Freshandfitpod:
My assets with them is running into billions.....

Wake up !!!! this your dream is lingering for far too long, remember today is monday.

3 Likes

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