10 Best Banks For Online Businesses In Nigeria (2024)

Banks offer a variety of products and services to its consumers, including personal and business banking. Personal banking is another term for domestic or retail banking, in which the bank deals directly with you. The bank deals with a corporate body or an incorporated corporation for corporate or commercial banking.

Every organization and business requires a business account, regardless of whether you’re just starting out or have been in business for a while. Business accounts are not only vital for professional ventures, but they are also important for small business owners. This is because the account can be used for financial accounting, bookkeeping, tax reporting, and a variety of other functions.

If you own a digital marketing agency or a trading/investment firm, you will need a business account to collect large payments from clients.

To assist you in selecting the finest from among the many banks, we will list 10 of the best banks in Nigeria to open for your internet business so that you can make an informed decision.

TOP 10 BEST BANKS IN NIGERIA FOR ONLINE BUSINESSES

1. GUARANTEE TRUST BANK (GTB)

Guarantee Trust Bank is one of the top commercial banks to open a business account with. It is a well-known multinational financial organization that provides services such as corporate banking, resource management, business banking, retail banking, and internet banking.

Guarantee Trust Bank offers the following business accounts: GTB Business Account, GTBank Current Account, GTBank Domiciliary Account, and GTMax Account. In addition to this, the bank provides a wide range of business banking services such as internet banking, business banking, SME banking, and much more.

2. ZENITH BANK PLC

Zenith Bank is one of the top banks in Nigeria to open a business account with and one of the country’s main commercial banks. The bank is a Nigerian institution that is possibly the most important financial institution in West Africa. This bank is currently recognized internationally and is listed on both the Nigerian and London Stock Exchanges. Zenith Bank is a trustworthy financial institution to open a business account in Nigeria since the bank has assisted several locally and foreign-owned organizations and firms in achieving benefits and optimizing earnings.

Furthermore, Zenith Bank was founded in May 1990 and became operating two months later, around the same period. Organizations and other enterprises can open separate business accounts at the bank. Limited Liability Company Account, Enterprise Account/sole Proprietorship: Partnership Accounts, Accounts for Associations, Societies, and Clubs are a few examples.

3. FIRST BANK OF NIGERIA

First Bank of Nigeria is reportedly Nigeria’s oldest commercial bank. In the same way, the financial institution ranks it as one of the finest banks in the country for opening a business account. The bank has a functioning business banking division to aid their corporate customers in exploring the services on their business engagement.

First Bank offers the following business accounts: First Current Plus Account, Current Account, Domiciliary Account, Fixed Deposit Account, and First Premium Term Deposit.

Overall, FBN has these business accounts to help its corporate clients and customers with business development and day-to-day operations. As a result, a portion of their business accounts meets the needs of their corporate clients.

4. UNITED BANK OF AFRICA (UBA)

UBA, as it is commonly called, is an indigenous commercial bank. This bank is possibly the most established in Nigeria, as well as one of the best places to open a business account in the country. UBA tops the list with its services, which include corporate banking for both local and foreign-owned enterprises.

UBA’s business accounts include the following: UBA Professional Account (for professionals and freelancers), Regular UBA Current Account, Self-Employed Current Account, and Expatriate/Diaspora Accounts (for foreigners). Furthermore, if you have a business account with UBA, you are eligible for additional perks and add-ons.

5. WEMA BANK PLC

Though not all-encompassing in terms of coverage, they are a prominent financial institution in terms of advancement. It’s comforting to know that Wema Bank is Nigeria’s finest commercial bank for internet banking. With their business account, you can acquire a computerized ledger for yourself or your business without leaving Wema Bank.

Wema Bank offers several financial account benefits that are suitable for organizations and businesses. Corporate Account, My Business Account, My Business Account Plus, Wema Treasure Account Business, Domiciliary Plus Account, and Alat by Wema are some of their business accounts (Business).

The bank also communicates with its business clients through its SME banking program.

6. HERITAGE BANK NIGERIA

Heritage Bank is the finest bank in Nigeria for opening a savings account. Just as saving money throughout your life is essential, this bank can provide you with the best of that. Choosing the right savings account is so critical for your organization. Heritage Bank also provides business accounts that are tailored to your specific needs. This makes it the finest bank in Nigeria for opening savings and business accounts.

7. NIGERIA’S STANDARD CHARTERED BANK

This is one of the greatest banks for business accounts. The Standard Chartered Bank Nigeria is a London-based international banking institution. The bank provides banking services and provides the most comprehensive solutions for corporate and business banking. Customers can choose from a variety of business account options.

8. ECOBANK OF NIGERIA

Ecobank Nigeria is yet another bank in Nigeria where you can open a business account. They are a fantastic choice in terms of availability because they have several branches all across the country. This financial organization provides its clients with banking services such as wholesale, retail, loans, savings, investments, debit and credit cards, corporate, investment, and transaction banking.

9. KEYSTONE BANK LIMITED

Keystone Bank is one of the financial industry’s next-generation banks. They provide business and financial services not only to huge corporations, but also to small businesses, SMEs, and individuals. Keystone Bank Limited is a conglomeration of two commercial banks, making this financial organization one of Nigeria’s top monetary service providers.

10. WEMA BANK PLC.

Though not all-encompassing in terms of coverage, they are a prominent financial institution in terms of advancement. It’s comforting to know that Wema Bank is Nigeria’s finest commercial bank for internet banking. With their business account, you can acquire a computerized ledger for yourself or your business without leaving Wema Bank.

Wema Bank offers several financial account benefits that are suitable for organizations and businesses. Corporate Account, My Business Account, My Business Account Plus, Wema Treasure Account Business, Domiciliary Plus Account, and Alat by Wema are some of their business accounts (Business).

The bank also communicates with its business clients through its SME banking program.