All the reasons to try out FirstBank’s revamped First Current Plus (FCP) account

Since the world adopted the bank as the heartbeat of its economy and weaned itself away from the activities of the goldsmiths, exchanging goods and services for money has been instrumental in the modern advancement that has made our lives better. But for this advancement to continue, all members of society must be carried along. This is one of the reasons why financial inclusion is important. Case in point First Bank of Nigeria Limited.

First Bank of Nigeria Limited has remained a key player in the Nigerian banking sector over the years, steadying the economy in its almost 128 years of existence. The financial institution has remained at the top because it has been able to position itself as a vital resource for high-network individuals and massive corporations.

Over the years, First Bank of Nigeria Limited has been able to stay resilient, in service to its stakeholders and the larger economy, by providing access to loans, competitive services and other products tailored to the needs of the everyday Nigerian.

FirstBank is keen on helping the average Nigerian feel secure about their finances and grow wealth that will let them achieve their dreams. The bank’s products and services include the newly revamped First Current Plus (FCP) account. 

Features of revamped First Current Plus (FCP) account

The previous minimum opening and minimum operating balance was 500,000 naira, but FirstBank Nigeria has made it accessible to more Nigerians by slashing it by 90 per cent to 50,000 Naira. The product, initially designed to meet the needs of high-networth individuals and corporations, will now open its doors to a broader audience, including petty traders, salary earners, small and medium enterprises, customers in the diaspora, and other young Nigerians.

The account now also offers zero Account Maintenance Charges (AMC) on the first ten withdrawals every month. This also includes withdrawals from alternative withdrawal terminals like ATMs, POS terminals, online or internet banking channels etc. Any excess over the withdrawal limit (10) attracts AMC at N1/mille and is applied to total debits on the account for that month.

Other benefits of opening the First Current Plus (FCP) account include a free chequebook at first issuance, unlimited withdrawals across all channels, access to its digital banking services, and a debit card.

This update of the First Current Plus account underscores FirstBank’s commitment to financial inclusion, which has become a hot-button topic in third-world countries. Many financial institutions have launched massive and ambitious products and campaigns to tackle financial inclusion, expanding their borders to newer customers.

But by expanding access to this First Current Plus (FCP) account to users already within the financially literate class, younger Nigerians can scale their earnings with a reputable institution like FirstBank. For instance, millennials and Gen-Z Nigerians have struggled to adopt a chequebook. 

First Current Plus (FCP) account holders are confident that the first ten monthly withdrawals will be free of Account Maintenance Charges (AMC). They can also rest assured that there will be no hidden charges, which is more than can be said of newer-age financial institutions.

How to open a FirstBank Nigeria FCP Account

To open a FirstBank Nigeria’s First Current Plus (FCP) account, users must provide the following documents;

1. The duly completed application form.
2.  A valid means of identification, such as a driver’s license, national ID card or an international passport
3. A valid proof of address of residency, e.g. Current Utility Bill not exceeding three months.
4. Two passport-size photographs
5. Two satisfactory references.