FCMB — review & details

In Bank accounts · By the Rateweb editorial team · How we rate · Details checked 1 Aug 2026

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.

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
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How FCMB compares in bank accounts

FCMB scores 4.0/5 in our bank accounts rankings. Our current top pick is Opay (4.3/5). Always compare a few before you decide — see the full bank accounts comparison.

FCMB
4.0/5 · this page
 Opay
4.3/5
 Kuda
4.2/5
Monthly Fee Standard CBN-regulated tariffs; entry accounts are low/no-fee None None
Licence CBN commercial bank CBN national licence (Jan 2026) CBN microfinance bank
Deposit Safety NDIC-insured (to ₦5m, commercial bank tier) NDIC-insured NDIC-insured (to ₦2m, MFB)
Best For First bank accounts and financial-inclusion tiers Free transfers + agent cash-out App-first budgeting
Visit FCMB → Visit Opay → Visit Kuda →

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Details last checked: July 2026

Ratings are Rateweb's editorial opinion. Product details are checked periodically but can change — confirm current terms with the provider before acting. We may earn a commission from some links, at no cost to you.