How To Open Account in Union Bank, Union Bank Account opening Online
The Union Bank of Nigeria, formerly known as the Colonial Bank, was founded in 1917. Between 1971 and 1979, it became a listed bank on the NSE and made share acquisitions/transfers. As a result, a completely new Nigerian-owned entity (UBN "the Bank" or "Union Bank") was formed.
After acquiring two other banks, former Universal Trust Bank Plc and Broad Bank Ltd, the Union Bank of Nigeria Plc eventually occupied its former subsidiary, Union Merchant Bank Ltd. All this was achieved during the Central Bank of Nigeria’s (CBN) banking sector consolidation policy.
Union Global Partners Limited owns the union bank. An investment firm that invests in systems, processes, and infrastructure in order to provide customer-centric products and services.
https://www.unionbank.com/personal/savings-accounts
How To Open An Account
To open a union bank account you need to visit the original page of Union Bank.
Step 1: Select the service option you are interested in;
- Open an account
- Apply for a loan
- 24/7 banking
- Trade Finance.
In this case you want to open account,
Step 2: Select open an account.
Step 3: Select the class of account;
- Personal account
- Business account.
Personal Accounts
They are available in 4 types;
- savings account.
- Current account.
- Domiciliary account.
- Target Savings.
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Savings Account
Allows regular savings with competitive interest rates and flexible withdrawals. This account is designed specifically for long term savings and other benefits.
Savings accounts are available in different types;
- Union save
- Union save more
- Savings account
- Union sliver
- Payroll savings
- Union vibe (student/ NYSC)
- Union hybrid enterprise
- Domiciliary
- Fixed deposit.
Current Account
This account is flexible enough to meet everyday banking needs. It is also known as a customized account for salary earners. It offers overdraft facility, zero maintenance fee, and access to personal loans
There are different types of current accounts you can choose from like
- Basic current
- Payroll plus current
Domiciliary Account
This is a foreign currency account that gives it’s customers the option to bank in global currencies (only this three) (US Dollars, Euros and GB Pounds).
It is equally available in different types.
- Domiciliary current
- Union ace USD Domiciliary account.
Target Savings
This is a tenure savings targeted for future expenses (e.g. school fees, medical bills), for individuals with low disposable income. Target savings is only available to 11 states in the northern part of Nigeria at the moment.
Target savings has it types and they include,
- Union korrect
- Dai Dai
- Qatar
- Exclusive
- Union goal.
Business Account
The business account is a type of account that supports business activities of all types. To know more about opening a business account, it advantages and disadvantages visit the union bank official website. In the main time, here are the types of business accounts available for business activities ,
- Cash flow leading
- Union Accelerate Dollar & I
- Local letter of credit
- SME
- Commercial
- Corporate.
Step 4: fill the necessary forms ( BVN, Name, Email, Telephone number)
And that’s it!
After a few days, you will receive an SMS with your account number. Then you can enter your pin and other information. To obtain a debit card, you must first deposit at least N1000 and then visit a Union Bank branch near you.
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