Consult our FAQ’s to find quick answers to your queries
1. Do I have to come to London to open an account with the Bank?
No, you do not. You can open your account in Nigeria at our Liaison Office (FCMB 1st floor, 38 Adeola Hopewell Street, Victoria Island or by sending your notarised Identity and Address verification documents to us at our Office in London: 81 Gracechurch Street, London EC3V 0AU
2. How do I make a compliant if I am not happy with the service I have received?
Your patronage is important to us. In the event that you are displeased with any of our products or services, kindly make this known to us by sending an email to us at firstname.lastname@example.org. We take all complaints seriously and record all complaints and try to resolve them as soon as possible. When we receive your complaint, we will provide you with a written acknowledgement within 3 business days starting from the day after the complaint was received (business days are Mon-Fri excluding United Kingdom Bank holidays).
If 8 weeks from the date of your complaint has passed and you have not received a final response from us, or you are dissatisfied with the final response you have received, you have the right to refer your complaint to the Financial Ombudsman Service (FOS), free of charge, within 6 months of the date of our final letter to you.
You can contact The Financial Ombudsman as follows:
By Post: The Financial Ombudsman Service, Exchange Tower London E14 9SR
Phone: 0800 023 4567 or 0300 123 9 123
You may also access the FOS Consumer Leaflet here: https://www.financial- ombudsman.org.uk/files/10963/consumer_leaflet_easy-read.pdf
3. What is the minimum opening balance for opening accounts with the Bank?
The minimum account opening balances are as follows:
- For Personal (Individual or Joint accounts): £50,000, $50,000 or €50,000
- For Business & Corporate Banking Accounts: £50,000, $50,000 or €50,000
4. What is the difference between your Corporate Banking Account and your Business Banking Account?
The two account types are for Large Corporations and SMEs respectively that meet two of the following three requirements:
Corporate Banking Account
- Annual company turnover of a minimum equivalent of £10million.
- Company’s total assets of a minimum equivalent of £5million.
- A minimum of 50 employees in your company
Business Banking Account
- Annual company turnover below the equivalent of £10million.
- Company’s total assets below £5million.
- Less than 50 employees in your company.
5. Do I need to have a UK address to open an account?
No. You only need your address in Nigeria/Africa with 2 proofs of address (drivers license, bank statement or utility bill). Mobile Phone bills and voters’ card are however not accepted for this purpose.
6. What kind of Identity documents are acceptable to the Bank?
Photo ID documents only: International Passport and Drivers’ License
7. I have a company/ business which was registered in Africa. Do I need to register my business in the United Kingdom to open an account?
No, you do not have to register your business in London to open an account with the Bank. We provide Banking services to African businesses, duly registered and operating across Sub-Saharan Africa.
8. In addition to the filled Account Opening form, as a Business, what documents do I need to open an account?
In addition to filling the Business Banking Account opening form, kindly provide the documents in this list
9. How many passport photographs are required?
10. How will I operate my account?
You will operate your account through our Online via internet banking. You can make and receive payments to or from your account via our Online Banking Platform in GBP (£), USD ($) and EUR (€) to any account in the world in the same currency.
11. What kind of mortgage can I apply for?
The Bank offers Buy-To–Let Mortgages. This is intended to part-finance your purchase of property in London for investment purposes as you will be required to let out the property. The rental income you get from the property will be your primary source of repayment of the Mortgage. You would only be able to live in the property purchased after you would have repaid the mortgage.
The Buy-to-Let Mortgage will be for a maximum tenor of 15 years and you will be required to make an equity contribution of 40% of the value of the property.