Polaris Business Advantage - Emerging is a current account targeted at SMEs with monthly turnover of >N5million to N15million.
Features/Benefits
- Minimum opening and operating balance of N30,000.00
- Discounted/Fixed Current Account Maintenance Fee of N4,000.00 on accounts with debit transactions within the month
- Monthly debit turnover threshold of N15,000,000. Excess on the monthly debit turnover will attract CAM Fee of N1/per mille
- Clearing cheque book issuance
- Access to business loans
- Access to Polaris Bank SME Webinars and Programs
- Access to e-channel platforms
Account Opening Documentation
| Account Opening Documentation | Limited Liability Companies | Registered Business Names |
| 1 passport photographs of each signatory | √ | √ |
| Bank Verification Number (BVN) of Signatories | √ | √ |
| Valid means of identification of signatories (Int'l passport, Driver’s license, National ID, Voters card) | √ | √ |
| Proof of Address (PHCN, Water bill, Waste disposal bill, tenement, etc.) | √ | √ |
| Premises visitation Report | √ | √ |
| Two suitable references | √ | √ |
| Certified True Copy of Certificate of Incorporation/Registration of Business Name | √ | √ |
| Certified True Copy of Memorandum and Article of Association. | √ | - |
| Certified True Copy of form C07/CAC7 (particulars of Directors) and C02/CAC2 (Allotment of stares). | √ | - |
| Copy of Forms for application for Registration of Business Name | - | √ |
| Legal Search report | √ | √ |
| Residence permit issued by the immigration Authorities (Expatriates) | √ | √ |
| Evidence of Registration with Special Control Unit on Money Laundering (SCUML) for all Designated Nonfinancial Businesses and Professionals (DNFBP)- Where applicable | √ | √ |
| Tax Identification Number (TIN) | √ | √ |
| Board resolution to open account | √ | - |
