The Oceanic Micro savings account is designed to provide flexibility and increase earnings and savings potential of small scale enterprises. It removes all the traditional bottlenecks by giving them simplified access to the financial sector.
There are 3 variants of OMSA.
OMSA Variants
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| OMSA Go |
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• Initial opening balance of N500
• Account opening ID documentation
o Application by customer to open account as a financially excluded person
o Introduction letter from District Head, Doctor, Solicitor, Minister of religion
o Location report by account officer
• Daily debit turnover (total outflow) of N250,000
• Account balance cannot exceed N250,000
• Base Interest rate
• SMS transaction notification
• Access to Health Insurance
• Access to ATM card, with N10,000 daily withdrawal limit
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| OMSA Grow |
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• Initial opening balance of N500
• Account opening ID documentation
o Customer provides 3rd Party identification (person with any of the National ID, Drivers
License OR International Passport).
o Utility Bill OR Location report by account officer
• Daily debit turnover (total outflow) of N500,000
• Account balance cannot exceed N500,000
• Base Interest rate
• SMS transaction notification
• Access to Health Insurance
• Access to ATM card, with N20,000 daily withdrawal limit |
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| OMSA Progress |
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• Initial opening balance of N500
• Account opening ID documentation
o Valid ID (Drivers License, International Passport, National ID)
o Utility Bill OR Location report by account officer
• Daily debit turnover operating balance of N8,000,000
• Account balance cannot exceed N8,000,000
• Base Interest rate
• SMS transaction notification
• Access to Health Insurance
• Access to a branded debit card, Unlimited of withdrawals from on an ATM |
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Benefits
- convenient banking for mass market segment within the economy
- Stress free account with minimal account opening documentation
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For Whom?
- Low Income Professionals
- Housewives
- Okada Riders, Petty Traders and mass market artisans
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How To Apply
- Demand from Customer Service Staff an Oceanic Micro Savings Account Form
- Complete the Account opening Form and select variant you wish to open
- Provide a single passport photograph
- Submit valid documentation as required for any of the variant
- Submit your form to your Account Officer or the Customer Service Officer at the Branch
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