FirstBank is one of the big names in the banking industry in Nigeria. Provides financial solutions through its loan platforms and makes life convenient for its customer.
Everyone knows what it means to be a student. Having to survive on campus, and as well pay attention to studies could prove to be daunting sometimes. The student is often caught in between this restlessness during the period of his/her studies. That is where the FirstBank Student comes in.
What is a FirstBank Student Account?
The Student Account is a type of savings account designed specifically for students from the age of 16 and above. This account enhances students’ lifestyle on campus and generally makes the schooling experience a lot better by helping them own an account easily. The Students’ Account comes with lots of benefits that may not be peculiar to other types of accounts. In addition, it is open to all undergraduates in all higher institutions.
So, are you a student looking for an account that best suits you? Then this piece of information is for you. All you have to do is read on, to get the best out of it.
Requirements for a First Bank Student Account
- One major requirement for this Student Account is that you must have attained 16 years of age or above.
- One recent passport photograph.
- A valid school Identity Card.
- Your Admission Letter (major evidence that you are a student and an undergraduate).
- National Identity Card.
- Information of Parents/Guardian
The above requirements should not be difficult to provide if you are an undergraduate.
What Qualifies You to Open This Account?
As long as you are an undergraduate in Nigeria, you are qualified to open the FirstBank Student Account. All you have to do is provide evidence that you are an undergraduate, and that you are up to 16 years of age and above.
In this article, we will focus on two methods of opening a FirstBank Student Account. These methods are:
- Visiting the bank
- Online method
How to Open a Student Account by Visiting the Bank
This is the conventional way of opening the FirstBank Student Account, and in some ways, it is beneficial because you can get as much information as you want.
To open a Student Account:
- Visit any First Bank branch near you
- Request for the First Bank Student Account Form
- Fill in all the correct information required of you
- Finally, submit the application form and wait for it to be processed and your account opened.
You see that it is quite easy and stress-free to open a Student Account.
Now let’s take a look at the other methods of opening a First Bank Students Account which is the online method.
How to Open a First Bank Student Account Online:
The online method of carrying out any banking activities is usually the most convenient, given the advent and widespread usage of the internet.
To open a Student Account using this method, simply follow these steps:
- Head on to the FirstBank Student Account portal on the FirstBank website.
- Obtain the form for FirstBank Online Student Account opening on the portal.
- Follow the instructions and guidelines on the portal in order to successfully open the FirstBank Student Account.
- Visit any FirstBank branch to get your debit card (popularly called an ATM card.)
That is pretty much all you need to open a First Bank Student Account. Below, we are going to be looking at the benefits of the FirstBank Student Account.
Benefits of the First Bank Student Account
- You get free access to online and mobile banking.
- You do not have to pay a dime to open a FirstBank Student Account.
- No monthly maintenance charges on your Student Account.
- The minimum balance required is N100.00 only.
- The Student Account can receive a credit of N50,000 per credit transaction.
The maximum amount in a FirstBank Student Account is N300,000.00 only. So, whatever credit you might be expecting in this Student Account, please ensure it is not above this limit. It is called a Student Account for a reason.
Most students in Nigeria are not rich. It could be frustrating if you do not have any money as a student, but you have an idle N1000 in your bank account which you cannot withdraw because that is the minimum balance. That is why it is better to open a Student Account as a student. The FirstBank Student Account is out to look out for all students in Nigeria who have attained the age of 16 years and above. The account type seeks to make life easier for students, by helping them to survive until graduation. In order to reduce your financial challenges in school, you should consider opening a FirstBank Student Account if you are a student. The account avails you so many benefits including easy banking experience.
We hope that this piece of information did well to educate you about the FirstBank Student Account. You can visit any FirstBank branch nearest to you to get more information about this, and perhaps, too, to open an account.
Can I Still Have a Non-Student Account as a Student?
Yes, you can. That you have a Student Account does not disqualify you, or exempt you from having other account types. You can have as many accounts as you desire, it does not stand in the way of owning a Student Account. The Student Account is just to help your school lifestyle on campus a lot better and more convenient, financially.
How Do I Receive a Sum Larger Than My Limit?
It is not possible to receive an amount higher than your maximum balance (N300,000) on your Student Account. You might have to use another account type to receive such an amount. Kindly note that this does not come with the same benefits as the Student Account.
What Happens to My Student Account Upon Graduation?
Upon graduation, when you provided all documents required, your Student Account will be upgraded to a Savings Account.