Designed to fit the lifestyles of teenagers and young adults, the Wema Purple Account is free of the strings of a minimum balance. It also comes with free bank drafts for paying fees and a debit card.
Features
- Opening balance of N1,000
- No minimum operating balance required
- Maximum savings limit of N500,000
- Maximum single deposit limit of N100,000
- Debit card, Internet & Mobile Banking service available with Cum daily transaction limit of N100,000
- Competitive interest rate
- Minimal documentation
Benefits to Customers
- A pocket money account that ensures secure and easy access to funds as well as interest earning for young adults.
- No charge for transfers (standing instruction) from parent’s/guardian’s Wema Bank accounts to Purple account
- No charge for bank draft purchased for payment of school fees for account holder
- Access to digital banking through ALAT
- Transaction alerts through SMS and/or E-mail
Documentation
- Duly completed account opening form including signature mandate card
- Tertiary Institution’s student ID OR Letter of Introduction/Admission OR in situations where Student ID card has not yet been issued, a document/letter duly signed and stamped by the school authorities with student’s passport affixed would suffice.
- 1 passport photograph
- BVN of young adult (BVN allowed for minors)
- Copy of utility bill (Water, electricity, Waste or telephone) issued within the last three months
- Student hall of residence allocation letter is acceptable in place of utility bill