Compare bank accounts in Nigeria

By the Rateweb editorial team · How we rate · Product details checked 1 Aug 2026

Compare current and savings accounts from Nigerian banks and licensed digital banks on fees, transfer charges and app features. Every provider here is licensed by the Central Bank of Nigeria (CBN), and deposits are insured by the NDIC — up to ₦5,000,000 per depositor at a commercial bank and ₦2,000,000 at a microfinance bank (2024 limits). A statutory ₦50 electronic-transfer levy (EMTL) applies to inflows of ₦10,000 or more whichever provider you use. Digital banks usually win on fees and speed; a full-service commercial bank adds branches, domiciliary accounts and the higher deposit-insurance limit.

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17 results
Best for free transfers

Opay

Nigeria's most-used fintech app — free bank transfers, a nationwide agent cash-in/out network and instant onboarding. Upgraded to a CBN national licence in Jan 2026; deposits NDIC-insured.
★★★★☆
4.3/5 · How we rate
None
Monthly Fee
Free (fair-use limits apply)
Transfers
CBN national licence (Jan 2026)
Licence
NDIC-insured
Deposit Safety
Free transfers + agent cash-out
Best For
digital
Type
Pros
  • Free transfers and a huge agent cash-in/out network
  • Instant onboarding with BVN/NIN; works on any phone
  • CBN national licence (upgraded Jan 2026)
Cons
  • A wallet/app, not a full-service branch bank
  • Can see downtime at peak times
  • Support is app-based only
Fees, eligibility & documents
Fees
Monthly maintenanceNone
TransfersFree (fair-use limits)
Statutory levy₦50 EMTL on inflows of ₦10,000+
Eligibility
  • 18+ (limits apply by KYC tier)
  • Valid Nigerian ID
  • BVN and/or NIN
Documents needed
  • Valid ID (NIN, passport, driver's licence or voter's card)
  • BVN
  • Proof of address (utility bill) for a full-tier account
Visit Opay Full details & review →
Best app-only bank

Kuda

A licensed microfinance bank built app-first — no account-maintenance fee, a free transfer allowance each month, budgeting tools and overdrafts. Deposits NDIC-insured.
★★★★☆
4.2/5 · How we rate
None
Monthly Fee
Free monthly allowance, then a small fee
Transfers
CBN microfinance bank
Licence
NDIC-insured (to ₦2m, MFB)
Deposit Safety
App-first budgeting
Best For
digital
Type
Pros
  • No account-maintenance fee; free transfer allowance each month
  • Clean budgeting, savings and overdraft features
  • Licensed microfinance bank; deposits NDIC-insured
Cons
  • No physical branches
  • Free transfers are capped each month
  • MFB insurance caps at ₦2m vs ₦5m at a commercial bank
Fees, eligibility & documents
Fees
Monthly maintenanceNone
TransfersFree monthly allowance, then a small flat fee
Statutory levy₦50 EMTL on inflows of ₦10,000+
Eligibility
  • 18+ (limits apply by KYC tier)
  • Valid Nigerian ID
  • BVN and/or NIN
Documents needed
  • Valid ID (NIN, passport, driver's licence or voter's card)
  • BVN
  • Proof of address (utility bill) for a full-tier account
Visit Kuda Full details & review →
Best for business & agents

Moniepoint

A licensed microfinance bank known for rock-solid transfers and the largest POS/agent network — strong personal and business accounts. On a CBN national licence (2026).
★★★★☆
4.2/5 · How we rate
None on personal
Monthly Fee
Low flat fee; reliable at scale
Transfers
CBN national licence (MFB, 2026)
Licence
NDIC-insured
Deposit Safety
Small business + POS/agents
Best For
digital
Type
Pros
  • Reliable transfers even at peak load
  • Excellent for small business, POS and agents
  • CBN national licence; deposits NDIC-insured
Cons
  • App/agent-led rather than branch banking
  • Fewer lifestyle features than rivals
  • MFB insurance caps below a commercial bank
Fees, eligibility & documents
Fees
Monthly maintenanceNone on personal
TransfersLow flat fee
Statutory levy₦50 EMTL on inflows of ₦10,000+
Eligibility
  • 18+ (limits apply by KYC tier)
  • Valid Nigerian ID
  • BVN and/or NIN
Documents needed
  • Valid ID (NIN, passport, driver's licence or voter's card)
  • BVN
  • Proof of address (utility bill) for a full-tier account
Visit Moniepoint Full details & review →
Best for rewards

PalmPay

A fast-growing fintech app with free transfers, slick bill-pay and cashback/rewards. Now on a CBN national licence (2026); deposits NDIC-insured.
★★★★☆
4.0/5 · How we rate
None
Monthly Fee
Free (fair-use limits apply)
Transfers
CBN national licence (2026)
Licence
NDIC-insured
Deposit Safety
Cashback & bill payments
Best For
digital
Type
Pros
  • Free transfers plus cashback and rewards
  • Slick bill-pay, airtime and data
  • CBN national licence; deposits NDIC-insured
Cons
  • A wallet/app, not a branch bank
  • Rewards terms change often
  • MFB-tier insurance limit (₦2m)
Fees, eligibility & documents
Fees
Monthly maintenanceNone
TransfersFree (fair-use limits)
Statutory levy₦50 EMTL on inflows of ₦10,000+
Eligibility
  • 18+ (limits apply by KYC tier)
  • Valid Nigerian ID
  • BVN and/or NIN
Documents needed
  • Valid ID (NIN, passport, driver's licence or voter's card)
  • BVN
  • Proof of address (utility bill) for a full-tier account
Visit PalmPay Full details & review →
Best full-service bank

GTBank (GTCO)

A leading commercial bank (CBN international authorisation) — full current/savings and domiciliary accounts, cards and the widest branch/ATM network. Deposits NDIC-insured to the ₦5m commercial-bank limit.
★★★★☆
4.0/5 · How we rate
Account-maintenance + card/SMS fees
Monthly Fee
Per-transfer fee + ₦50 EMTL
Transfers
CBN commercial bank (international)
Licence
NDIC-insured (to ₦5m)
Deposit Safety
Full-service, branches & dom account
Best For
bank
Type
Pros
  • Full-service: domiciliary accounts, cards, cheques, business banking
  • Largest branch/ATM network plus a strong app (GTWorld)
  • Higher ₦5m NDIC deposit-insurance limit
Cons
  • Account-maintenance, card and SMS fees add up
  • Transfers cost more than the neobanks
  • More paperwork to open than an app wallet
Fees, eligibility & documents
Fees
Account maintenanceCBN-set charge on customer-induced debits
TransfersPer-transfer fee + ₦50 EMTL
Card & SMSCard-maintenance and SMS-alert fees may apply
Eligibility
  • 18+ (limits apply by KYC tier)
  • Valid Nigerian ID
  • BVN and/or NIN
Documents needed
  • Valid ID (NIN, passport, driver's licence or voter's card)
  • BVN
  • Proof of address (utility bill) for a full-tier account
Visit GTBank Full details & review →
Best digital bank with commercial-bank backing

ALAT by Wema

Nigeria's first fully digital bank, run by Wema Bank — so you get an app-first account with commercial-bank NDIC cover behind it. Free to sign up, with automated savings goals (Fixed, Flexi, Spend-and-Save) and virtual and physical cards.
★★★★☆
4.2/5 · How we rate
Free to sign up; standard regulated charges on transactions
Monthly Fee
Backed by Wema Bank, a CBN commercial bank
Licence
NDIC-insured (commercial bank tier, to ₦5m)
Deposit Safety
App-first banking without microfinance-tier limits
Best For
digital
Type
Pros
  • Commercial-bank deposit cover, unlike most app-only rivals on MFB licences
  • Strong automated savings goals, including a spend-and-save sweep on purchases
  • Longest track record of Nigeria's digital banks (launched 2017)
Cons
  • App reliability complaints recur in store reviews during peak periods
  • Branch service exists only via parent Wema — the ALAT experience is app-only
  • Headline savings-goal rates apply to locked goals, not the everyday balance
Fees, eligibility & documents
Fees
Sign-up / maintenanceFree to sign up
TransfersStandard CBN-regulated electronic transfer charges
Eligibility
  • Nigerian resident with BVN
  • 18 or older
  • Smartphone for the app
Documents needed
  • BVN and phone number to start
  • Valid ID and utility bill to upgrade tiers
Visit ALAT Full details & review →

Sparkle

A lifestyle-led digital bank holding its own CBN microfinance bank licence, with NDIC-insured deposits. Accounts open in about five minutes from a phone, with spending analytics, bill payments and a flexible 'Stash' savings feature.
★★★★☆
3.9/5 · How we rate
None advertised
Monthly Fee
CBN microfinance bank
Licence
NDIC-insured (to ₦2m, MFB tier)
Deposit Safety
Freelancers and small traders who live on their phone
Best For
digital
Type
Pros
  • Own CBN microfinance licence with NDIC deposit insurance
  • Five-minute, document-light account opening
  • Built-in spending analytics and flexible Stash savings, including group saving
Cons
  • Smaller and less battle-tested than the biggest fintech wallets
  • Physical card delivery is Lagos-centric
  • MFB tier means the lower ₦2m NDIC cover, and no branch network at all
Fees, eligibility & documents
Fees
Account maintenanceNone advertised
Transfers and billsStandard regulated charges; not itemised on the site
Eligibility
  • Nigerian resident
  • 18 or older
  • Smartphone with BVN for full features
Documents needed
  • Phone number and BVN; tier upgrades ask for valid ID
Visit Sparkle Full details & review →
Best for fee-free transfers

OneBank by Sterling

Sterling Bank's fully digital account, advertising zero transfer fees to other banks — rare among Nigerian banks since transfer charges were re-regulated. Tiered onboarding runs from a personal-details-only wallet up to full savings and current accounts.
★★★★☆
4.0/5 · How we rate
App is free; charges only when you transact
Monthly Fee
Sterling Bank, a CBN commercial bank
Licence
NDIC-insured (commercial bank tier, to ₦5m)
Deposit Safety
Cutting transfer costs on a full bank account
Best For
digital
Type
Pros
  • Advertised zero transfer fees to other banks, and free airtime purchases
  • Wallet tier opens with personal details only — lowest possible barrier
  • Full commercial-bank product set behind it: loans, FX swap, investments, cards
Cons
  • Statutory charges (like stamp duty on larger deposits/transfers) still apply
  • Current-account tier requires referees, which slows full onboarding
  • The app bundles many Sterling products, so the interface is busier than minimalist rivals
Fees, eligibility & documents
Fees
Transfers to other banksZero fee advertised via OneBank
Statutory chargesStamp duty and other CBN/government levies still apply
Eligibility
  • Wallet: personal details only
  • Savings/current: BVN and valid ID
  • Current account additionally needs referees
Documents needed
  • BVN
  • Valid ID and e-signature
  • Referee details for current accounts
Visit Sterling OneBank Full details & review →
Best full-service network

Access Bank

One of Africa's largest banking groups and a CBN-licensed commercial bank (RC-125384), pairing a huge branch and agent footprint with the AccessMore app and *901# USSD. A safe default for people who want everything — accounts, cards, loans, transfers — under one roof.
★★★★☆
4.1/5 · How we rate
Standard CBN-regulated account tariffs
Monthly Fee
CBN commercial bank
Licence
NDIC-insured (to ₦5m, commercial bank tier)
Deposit Safety
Full-service banking with physical reach
Best For
traditional
Type
Pros
  • Vast physical network plus AccessMore app and *901# USSD for 24/7 access
  • Wide account range, from wallet-style entry accounts to premium tiers
  • Group scale across multiple African markets; strong remittance partnerships (Western Union, MoneyGram, Ria)
Cons
  • Standard incumbent charges apply — it is not a zero-fee challenger
  • Branch queues and paperwork persist for anything beyond basic requests
  • App experience trails the best of the digital-first rivals
Fees, eligibility & documents
Fees
Account maintenancePer CBN's regulated bank-charges guide
TransfersStandard regulated electronic transfer charges
Eligibility
  • Individuals resident in Nigeria (diaspora accounts available)
  • BVN required
  • Entry-tier accounts open with minimal documentation
Documents needed
  • Valid ID
  • BVN
  • Utility bill and passport photograph for full-tier accounts
Visit Access Bank Full details & review →
Best starter account without paperwork

FCMB

A CBN-licensed commercial bank whose Easy Account opens with just a phone number — no bank visit, no paperwork, not even a BVN for the entry tier. Beyond that sits a full personal-banking stable: five current and seven savings account types, a capable app and *329# USSD.
★★★★☆
4.0/5 · How we rate
Standard CBN-regulated tariffs; entry accounts are low/no-fee
Monthly Fee
CBN commercial bank
Licence
NDIC-insured (to ₦5m, commercial bank tier)
Deposit Safety
First bank accounts and financial-inclusion tiers
Best For
traditional
Type
Pros
  • Easy Account opens with a phone number only — the lowest entry barrier among the incumbents
  • Broad product ladder to grow into: salary, premium and domiciliary accounts
  • *329# USSD banking works without data
Cons
  • Entry-tier accounts carry low transaction and balance limits until you add BVN and ID
  • Standard incumbent fee schedule beyond the entry tier
  • Digital experience is solid but not class-leading
Fees, eligibility & documents
Fees
Easy AccountDesigned as a low/no-fee inclusion account
Standard accountsPer CBN's regulated bank-charges guide
Eligibility
  • Easy Account: any Nigerian with a phone number
  • Full accounts: BVN and valid ID
  • 18+ for standard accounts; kids' accounts via guardians
Documents needed
  • Phone number only for Easy Account
  • BVN, valid ID, photograph and utility bill for full-tier accounts
Visit FCMB Full details & review →

Fidelity Bank

A CBN-licensed commercial bank (RC 103022) with the standard full-service mix — savings and current accounts, a mobile app, *770# USSD and 24/7 support — plus a notably strong diaspora-banking arm for Nigerians abroad.
★★★★☆
3.8/5 · How we rate
Standard CBN-regulated account tariffs
Monthly Fee
CBN commercial bank
Licence
NDIC-insured (to ₦5m, commercial bank tier)
Deposit Safety
Everyday banking with diaspora links
Best For
traditional
Type
Pros
  • Full commercial-bank cover with branches, app and *770# USSD
  • Dedicated diaspora banking for Nigerians abroad, including cross-border transfer services
  • 24/7 support across phone, WhatsApp and email
Cons
  • Smaller branch and agent footprint than the tier-one giants
  • Standard incumbent charges — no zero-fee proposition
  • App is functional rather than a reason to switch
Fees, eligibility & documents
Fees
Account maintenancePer CBN's regulated bank-charges guide
TransfersStandard regulated electronic transfer charges
Eligibility
  • Individuals resident in Nigeria; diaspora accounts for Nigerians abroad
  • BVN required for standard accounts
Documents needed
  • Valid ID
  • BVN
  • Passport photograph and proof of address for full-tier accounts
Visit Fidelity Bank Full details & review →

UBA

United Bank for Africa, one of Nigeria's largest commercial banks and an NDIC-listed institution. Its personal range spans savings, current, salary, domiciliary, diaspora and fixed-deposit accounts, so most needs are covered under one roof.
★★★★☆
4.1/5 · How we rate
Varies by account — not published on the overview page, confirm before opening
Monthly Fee
CBN-licensed commercial bank (NDIC commercial-bank register)
Licence
NDIC-insured — cover up to N5m per depositor (2024 limit)
Deposit Safety
Customers who want one full-service bank for naira, foreign-currency and diaspora banking
Best For
traditional
Type
Pros
  • Full account ladder on one licence: savings, current, salary, domiciliary and diaspora accounts
  • Pan-African group presence useful for cross-border customers
  • Large physical branch network alongside digital channels
Cons
  • Fees and minimum balances are not published on the personal-banking overview page
  • The tiered account range takes some navigating to find the right fit
  • Branch-led service can feel slower than the app-only providers on this page
Fees, eligibility & documents
Fees
Monthly maintenanceNot published on the overview page — confirm per account type
Account openingVaries by account — confirm with UBA
Eligibility
  • Individuals, employees, self-employed and expatriates (per UBA's page)
  • BVN required for Nigerian accounts
Documents needed
  • Valid means of identification
  • Passport photograph and BVN
  • Proof of address (varies by account tier)
Visit UBA Full details & review →

First Bank of Nigeria

Nigeria's oldest bank, on the NDIC commercial-bank register. Its standard current account opens with N5,000 for individuals, offers unlimited monthly withdrawals and cheque facilities, and carries the N1-per-mille account maintenance fee stated on First Bank's page.
★★★★☆
4.0/5 · How we rate
N1 per mille account maintenance fee (per First Bank's page)
Monthly Fee
CBN-licensed commercial bank (NDIC commercial-bank register)
Licence
NDIC-insured — cover up to N5m per depositor (2024 limit)
Deposit Safety
Everyday banking with cheques, third-party transactions and a nationwide branch network
Best For
traditional
Type
Pros
  • Unlimited monthly withdrawals and nationwide cheque clearing, per First Bank's page
  • Zero minimum operating balance on the current account
  • Deep branch network and inter-branch transactions for account owners and third parties
Cons
  • N1-per-mille maintenance fee applies to turnover on the current account
  • Account opening is still form-and-branch led
  • Digital experience trails the neobanks already listed on this page
Fees, eligibility & documents
Fees
Account opening balanceN5,000 for individuals (per First Bank's page)
Account maintenanceN1 per mille (per First Bank's page)
Minimum operating balanceNone on the current account (per First Bank's page)
Eligibility
  • Individuals and corporate organisations
  • At least 18 years old with valid identification
Documents needed
  • Completed account opening form and specimen signature card
  • Valid ID (BVN, driver's licence, national ID card or international passport)
Visit First Bank Full details & review →

Stanbic IBTC Bank

Member of the Standard Bank Group and an NDIC-listed commercial bank. A wide personal range — savings, hybrid current (HYCA), domiciliary, children's and senior citizens' accounts — plus one of the broader lending menus among Nigerian banks.
★★★★☆
4.1/5 · How we rate
Varies by account — not published on the overview page, confirm before opening
Monthly Fee
CBN-licensed commercial bank (NDIC commercial-bank register)
Licence
NDIC-insured — cover up to N5m per depositor (2024 limit)
Deposit Safety
Customers who want banking, lending and investing under one group
Best For
traditional
Type
Pros
  • Broad account menu: personal savings, HYCA hybrid current, domiciliary, children's and 50+ accounts
  • Strong lending range alongside accounts, from salary advance to vehicle and home loans
  • Multiple channels including agent banking, app, internet banking and *909# USSD
Cons
  • Per-account fees and rates are not published on the overview page
  • The group's bank and asset-management products are easy to mix up — they carry different protections
  • Physical branch network is smaller than the very largest Nigerian banks
Fees, eligibility & documents
Fees
Monthly maintenanceNot published on the overview page — confirm per account type
Account openingPersonal savings has no minimum opening balance (per the bank's page); other accounts vary
Eligibility
  • Individuals resident in Nigeria; dedicated accounts for children and customers aged 50+
  • BVN required
Documents needed
  • Two passport photographs
  • Valid means of identification
  • Utility bill showing physical address
Visit Stanbic IBTC Bank Full details & review →
Digital-led

Standard Chartered Nigeria

The international bank's Nigerian arm, on the NDIC commercial-bank register. Its site leads with instant account opening on the SC Mobile app across current, savings and domiciliary accounts — a digital-first posture from a global brand, with a branch locator still offered.
★★★★☆
3.9/5 · How we rate
Varies by account — not published on the landing page, confirm before opening
Monthly Fee
CBN-licensed commercial bank (NDIC commercial-bank register)
Licence
NDIC-insured — cover up to N5m per depositor (2024 limit)
Deposit Safety
Customers who want an international banking brand with app-first onboarding
Best For
traditional
Type
Pros
  • Instant account opening on the SC Mobile app, per the bank's site
  • Multiple savings tiers (eSaver, My Dream Account, Instant Savings) plus salary and domiciliary current accounts
  • Backing of an international banking group
Cons
  • Physical footprint is thin next to the big Nigerian retail banks — check branch access if you need counters
  • Per-account fees and rates are not published on the landing page
  • Product range is narrower and more premium-tilted than the mass-market banks on this page
Fees, eligibility & documents
Fees
Monthly maintenanceNot published on the landing page — confirm per account type
Account openingVia SC Mobile app — minimums not published on the landing page
Eligibility
  • Individuals resident in Nigeria
  • Smartphone required for SC Mobile onboarding
Documents needed
  • Valid means of identification and BVN
  • Proof of address (confirm exact list in the SC Mobile app)
Visit Standard Chartered Full details & review →

Globus Bank

A newer full commercial bank whose own site footer states it is licensed by the Central Bank of Nigeria and insured by the NDIC. Personal range covers savings, individual current, domiciliary, kiddies and non-resident accounts with a digital-first pitch.
★★★★☆
3.8/5 · How we rate
Not published on the site — confirm before opening
Monthly Fee
CBN-licensed commercial bank (stated on Globus's own site; NDIC commercial-bank register)
Licence
NDIC-insured — cover up to N5m per depositor (2024 limit)
Deposit Safety
Customers who want a full commercial-bank licence with a lean, digital-leaning service
Best For
traditional
Type
Pros
  • Full commercial-bank licence and NDIC insurance, stated on the bank's own site
  • Covers the essentials: savings, current, domiciliary, kiddies and non-resident accounts
  • Digital-first features — transfers, real-time balance, card and cheque management in the app
Cons
  • Young bank with a much smaller branch network than the established names
  • No product figures (rates, minimums, fees) are published on the site
  • Shorter track record to judge service quality by
Fees, eligibility & documents
Fees
Monthly maintenanceNot published on the site — confirm with the bank
Account openingNot published on the site — confirm with the bank
Eligibility
  • Individuals resident in Nigeria; non-resident account available
  • BVN required
Documents needed
  • Valid means of identification and BVN
  • Passport photograph and proof of address (confirm exact list with the bank)
Visit Globus Bank Full details & review →

ProvidusUnity Bank

Providus Bank, now branding as ProvidusUnity Bank following its combination with Unity Bank, and listed on the NDIC commercial-bank register (as Providus Bank Plc). Personal range spans current, savings, salary, youth and affluent accounts with online account opening.
★★★★☆
3.8/5 · How we rate
Not published on the site — confirm before opening
Monthly Fee
CBN-licensed commercial bank (NDIC commercial-bank register, listed as Providus Bank Plc)
Licence
NDIC-insured — cover up to N5m per depositor (2024 limit)
Deposit Safety
Upwardly-mobile customers who want a smaller full-service bank with online onboarding
Best For
traditional
Type
Pros
  • Full personal range: current, savings, salary, youth and affluent accounts
  • Online account opening plus the ProvidusPlus app for transfers, airtime and bills
  • NGN, USD and GBP denominated cards offered
Cons
  • Mid-merger branding (Providus and Unity) — expect some transition friction in branches and paperwork
  • Product pages are thin: no rates, minimums or fees published
  • Smaller branch network than the tier-one banks on this page
Fees, eligibility & documents
Fees
Monthly maintenanceNot published on the site — confirm with the bank
Account openingNot published on the site — confirm with the bank
Eligibility
  • Individuals resident in Nigeria; diaspora accounts also offered
  • BVN required
Documents needed
  • Valid means of identification and BVN
  • Passport photograph and proof of address (confirm exact list with the bank)
Visit ProvidusUnity Bank Full details & review →
📖 Want the full picture? Choosing a Bank Account in Nigeria (2026) — our in-depth editorial guide. Read the guide →

Ratings are Rateweb's editorial opinion. Product details can change — always confirm with the provider before applying. Rateweb may earn a commission on some applications. This is general information, not financial advice.

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