Business Account FAQs
Sterling Business Accounts are available to:
- Registered SMEs
- Registered corporate entities
- Businesses with valid CAC documentation
The account is opened in the registered business name as captured on the CAC documents.
No. A Business Foreign Currency Account can only receive funds in the same currency denomination in which it is opened.
Customers must open separate Pounds (GBP) or Euros (EUR) accounts to receive those currencies.
The Sterling Business Foreign Currency Account is opened with a minimum of 100 units of the applicable currency (e.g. $100, €100, or £100).
- Zero daily minimum balance
- Access to internet banking (Sterling Pro / Banca)
- Real-time account monitoring
- SMS and email alerts
- Unlimited deposits and withdrawals
- Access to business advisory, diagnostics, and digital POS solutions
- CAC registration documents
- Valid means of identification
- Other standard account opening requirements in line with the relevant business entity classification and regulatory guidelines
Customers can:
- Open online via https://openaccountonline.sterling.ng/, or
- Visit any Sterling Bank branch
Every business owner with turnover of N1.2m and below.
The Pounds or Euro denomination should also be opened to receive in same denomination respectively.
- Access to tailored loan facilities
- Free business advisory and diagnostic service
- Real time monitoring of account activities (inflow & outflow) from customers convenience
- Access to internet banking & payment channels
- Negotiable account maintenance fee depending on turnover and account variant.
The account would be charged the standard account maintenance fee.
The Sterling Business – Foreign currency account is to be opened with 100 unit of USD, Euro or Pounds currency ( i.e $100 etc.)
The Sterling Business – Zero AMF account to be exempted from some charges
A fixed charge of N2,500 only.