Union Bank Account Opening Requirements And Activation Procedures
The Union Bank of Nigeria, originally known as the Colonial Bank, was founded in 1917. Between 1971 and 1979, it became a listed bank on the NSE and made share acquisitions/transfers. As a result, a completely new Nigerian-owned entity (UBN "the Bank" or "Union Bank") was formed.
After acquiring two additional banks, old Universal Trust Bank Plc and Broad Bank Ltd, the Union Bank of Nigeria Plc finally seized its former subsidiary, Union Merchant Bank Ltd. All of this occurred as a result of the Central Bank of Nigeria's (CBN) banking sector consolidation program.
Union Global Partners Limited owns the union bank. An investment firm that invests in systems, procedures, and infrastructure to provide customer-centric services.
How to Create an Account
To open a union bank account, go to the original Union Bank page.
Step 1: Choose the service option that interests you.
- Create an account
- Request a loan
- 24 hour banking
- Trade Finance.
If you wish to establish an account in this scenario,
Step 2: Click the open an account button.
Step 3: Determine the kind of account;
Individual account
Account for business.
Individual Accounts
They come in four varieties:
- account for saving
- Accounts payable.
- Account for a domiciliary.
- Savings Goals
Regular savings with competitive interest rates and flexible withdrawals are possible. This account is particularly designed for long-term savings and other advantages.
There are several sorts of savings accounts.
- Union saves more Union saves more
- Union sliver savings account
- Savings on payroll
- Union atmosphere (student/NYSC)
- Domiciliary Union hybrid enterprise
- Fixed investment.
- Accounts Payable
This account is versatile enough to fulfill most people's banking needs. It is also known as a salary earner's personalized account. It provides overdraft protection, no maintenance fees, and access to personal loans.
There are several sorts of current accounts to pick from, such as
Current Basic Payroll plus Current Domiciliary Account
This is a foreign currency account that allows clients to bank in worldwide currencies (just these three) (US Dollars, Euros and GB Pounds).
It is accessible in a variety of forms.
Current Domiciliary Union ace USD Domiciliary account
Savings Goals
For persons with little discretionary income, this is a term savings plan designed to cover future needs (e.g., school tuition, medical bills). Target savings is now only offered in 11 northern Nigerian states.
Target savings comes in several varieties, including,
Dai Dai Qatar Exclusive Union goal corrected by Union
Accountant in Business
The business account is a sort of account that facilitates all forms of company activity. Visit the official website of Union Bank to learn more about creating a business account, including its benefits and drawbacks. In general, the following are the sorts of business accounts that are accessible for commercial activities:Leading cash flow Union Accelerate Dollar & I Local letter of credit SME Commercial Corporate
Step 4: Complete the relevant paperwork ( BVN, Name, Email, Telephone number)
And there you have it!
After a few days, you will get an SMS with your account number. Then you may enter your pin and other information. To obtain a debit card, you must first deposit at least N1000 and then visit a Union Bank location near you.
Additional Information
You may also become a Union Bank Nigeria agent. For additional information, go to their website.
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