How can I open a student account at Zenith Bank
Teaching your children how to save is a great way to help them build their future. Starting at an early stage to teach your children is a sure way to inculcate the spirit of saving in them.
It is worth opening yourself or your kids a student account, this will help you in time of need or an emergency this post, will give you every detail you need to know about the Zenith Bank student account.
- What is a student account
- How to open a student account with Zenith Bank
- The requirements needed to open a student account
- How to upgrade my Zenith Bank students account
- How much can a student account hold
- How to know if your account is a student account
- How much is your student account’s daily limit?
We will be discussing this with you, so if you want to open a student account. Then this is an opportunity for you to know all about how to open a student account in Nigeria.
Before we go on let’s quickly throw more light on what a student’s account is.
What is a student account (Zenith Bank)
The student account is a special saving account for children and teens between the age of 16 to 28 years. This form of saving money was introduced to encourage saving among Nigerian students.
One benefit the student’s account has over other accounts is that it’s easy to open and run. And you can open one with only your Passport, Student ID card and your admission letter.
You don’t need a utility bill or even a guarantor to open a student account in Nigeria.
The Student account is a tier one account that comes a lot of limits placed on it such as the balance limit and the deposit limit.
Zenith Bank one of Nigeria’s leading banks also offer an opportunity for the student to open a student account without stress.
How to Open a student account (Zenith Bank)
To open a student account you don’t need much requirements or stress. You can also open a student account online, but that is not what we will be talking about today.
To open your student account you should visit any commercial banks in Nigeria like Zenith Bank, First Bank, Access Bank and the rest of them
Get all the requirements and fill in all the necessary forms, then wait for your student account to be open.
Once the account has been successfully opened you will receive an SMS containing some important bank information such as Account name, account number and even the ATM pin.
Requirements to open a student account in Nigeria(Zenith Bank)
You don’t need to follow the normal processes used in opening a normal account. You just need to bring some simple documents and passports.
The following are the requirements needed.to open a student accounts
- Account Opening forms must be correctly filled.
- A recent passport photograph of the student
- Your National Identity Number, your school admissions letter
- Details of your parent and guardian
Once all these requirements are met, you can now open your student account
How much can a student account hold
This is one of the most widely asked questions about the student account. As you all want to know how much the account can hold and its transfer limit.
Just like any other bank account, the student account is used to save money, transfer and receive money. But it has some limits to what it can transfer and receive.
With a Zenith student account your daily transaction is only 100k and below. It cannot be transferred once, 10k per time. That sounds funny, right?
The Zenith student’s account has an operating balance of 1 million(1,000,000). That means the account holds more than 1 million.
How to upgrade your Zenith Bank student account
As time goes on you might find the need to upgrade your bank account to meet up your daily target
Walk into any bank branch near you, go to the customer service section tell them you want to upgrade your bank account.
You will be given a form that contains your basic details such as your name, account name, Bank Verification Number (BVN), telephone number and home address.
Make sure you provide the correct information in the form given to you and submit it along with the requirements to the staff.
This process will take up to 24 hours to be activated, once it’s done you can receive and send any amount of money you want.
For fast money transfers and to buy recharge cards download Opay online bank
Benefits of opening a student account
You may be considering instead of opening a student account while not opening a normal standard account. The choice is yours to make, but I will advise you to choose the student account.
The student’s account has some advantages over a standard account, some of which will be discussed here.
- Free transactions;
Have you ever heard when people complain of too many bank charges? But with a student account, your transactions are) free.
If you open a student account in Nigeria then you do not need of complaining about transfer charges.
2. Free Debit card
As a student running a student account, you won’t have to pay for the usual ATM card and monthly maintenance.
You will ne given a free debit card for your online and offline transactions.
3. No account Opening fee
Unlike other banks’ tier standards, where you must pay some money to be deposited in your bank. But with a student account, it’s free.
4. Yearly interest
As a student account owner, you stand to earn an interest rate of 1.15 % per annum.
How to know if your bank account is a student account
You just opened a bank account, but don’t know which bank type it is.
The student account is a tier-one account, which means it has some limitations that may hinder your transaction.
To know if you are on a student account, try transferring above your limits, if it’s successful then you should know that you are running a second or third-tier bank account.
Conclusion
There is a need for every Nigerian student to have a bank account, that will help you in sending and receiving money.
That is why we have compiled a list of requirements and where to open a student account in Nigeria.
We will like to hear from you, if you have any suggestions or questions do use the comment box below.
Am a tech enthusiast who loves sharing tech tips and how to do step by step tutorials.
