CHESS Account
The flexible CHESS account makes every Naira count for you and your child.
N
2 000
Opening deposit
On maturity
Access to Funds
N5000
Minimum daily balance
CHESS Account Benefits
Affordable
Low Opening Balance
Mobility
Download the app, no need to go to a branch
Inclusive
Available for kids between ages 0 and 17 yrs
Independence
A MasterCard debit card
What You Get
- An account to manage your child’s savings for educational fees, extra classes, or simply learning about money.
- Interest rate of 1% above the average savings account
- Forfeiture of 1% interest upon more than 1 withdrawal in a quarter and forfeiture of savings rate if there are more than 4 withdrawals in a month
- MasterCard debit card for easy access to your money
- 24/7 Access to the customer care centre via phone, email and social media.
- Full digital banking access – internet, app and USSD
- Payment of cheques and divided warrants when KYC requirements have been met
What It Costs
- N 2 000 Opening balance
- Minimum N 5 000 daily balance
See product pricing guide on page below
How To Get It
- Minimum opening balance of N2 000
- Application form
- Child’s birth certificate
- Two recent passport photographs of the child
- Two recent passport photographs of the parent
- A valid ID of the parent
- Two reference forms - to enable cheque payments (Optional)
-
What You Get
-
What It Costs
-
How To Get It
- An account to manage your child’s savings for educational fees, extra classes, or simply learning about money.
- Interest rate of 1% above the average savings account
- Forfeiture of 1% interest upon more than 1 withdrawal in a quarter and forfeiture of savings rate if there are more than 4 withdrawals in a month
- MasterCard debit card for easy access to your money
- 24/7 Access to the customer care centre via phone, email and social media.
- Full digital banking access – internet, app and USSD
- Payment of cheques and divided warrants when KYC requirements have been met
- N 2 000 Opening balance
- Minimum N 5 000 daily balance
See product pricing guide on page below
- Minimum opening balance of N2 000
- Application form
- Child’s birth certificate
- Two recent passport photographs of the child
- Two recent passport photographs of the parent
- A valid ID of the parent
- Two reference forms - to enable cheque payments (Optional)
Pricing Guide in line with CBN Guide to Bank Charges by Banks and other financial institutions effective 01 January 2024.
Pricing Guide in line with CBN Guide to Bank Charges by Banks and other financial institutions effective 01 January 2024.
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