MYBUSINESS ACCOUNT

What happens if I withdraw below the minimum operating balance requirement in any of the variants?
Normal Account Maintenance charges will apply.
Tue, 16 Feb, 2021 at 5:03 PM
I run a printing press, and my turnover in a month is between N20m to N45m. Can I still open MyBusiness Account?
Yes, MyBusiness Account allows monthly debit turnovers of up to N200m COT free.
Tue, 16 Feb, 2021 at 5:03 PM
What happens if I withdraw more than the approved turnover limit in a month?
You will be charged COT on the excess amount only.
Tue, 16 Feb, 2021 at 5:03 PM
I don't want to pay the account maintenance charge because it affects my profit. I need a bank account that would not take all my income as bank charges. Does Wema Bank have any account that can help me?
MyBusiness Account does not charge an account maintenance fee if you maintain the required daily minimum balance and monthly debit turnover
Tue, 16 Feb, 2021 at 5:03 PM
I run a small bakery and MyBusiness only generates a small income. Do I qualify to open this account?
Yes, if you can maintain a minimum balance of N10,000 you qualify for this account. 
Tue, 16 Feb, 2021 at 5:03 PM
Is there a maximum cumulative balance for this account?
No
Tue, 16 Feb, 2021 at 5:04 PM
What is the minimum opening balance for this account?
N10,000
Tue, 16 Feb, 2021 at 5:04 PM