Home Scholarships How to upgrade FCMB Bank account easily (Online & Offline)

How to upgrade FCMB Bank account easily (Online & Offline)

Upgrading your FCMB bank account can unlock significant benefits. However, many customers are unsure of the process. In this comprehensive guide, I will explain everything you need to know to upgrade your FCMB account quickly and smoothly, both online and offline.

Before getting into the steps, it’s important to understand why upgrading is worthwhile. Higher account tiers provide access to advanced features and services that can help you better manage your finances. Some key advantages include:

Access More Advanced Banking Services

Customers with higher account types such as salary, corporate or target savings accounts have access to services like fixed deposits, treasury bills, stocks & shares trading, asset financing and credit cards. These options allow you to grow your money more effectively. 

Higher Transaction Limits

The transaction limits that apply to your account determine how much money you can withdraw, deposit or transfer at a time via platforms like ATMs, online banking and mobile apps. Upgrading increases these limits, giving you more flexibility.

For example, a basic savings account may have a ₦100,000 daily ATM withdrawal ceiling. But a premium current or target savings account ups this to ₦300,000-500,000 per day, saving you withdrawal trips.

Reduced Bank Charges   

Banks apply different fee structures depending on your account tier. Customers with higher account balances or who receive regular salary credits into their accounts typically enjoy waivers or discounts on charges.

For instance, a regular savings account might be charged ₦100 for ATM transactions after the first 5 withdrawals monthly. However, a priority banking member does not pay charges for any ATM usage.

Better Access to Credit Products

Having an upgraded FCMB account improves your creditworthiness in the bank’s system. This could make you eligible for loans, credit cards or overdraft facilities — important financial tools for consumers and businesses. The application and approval process also tends to be faster.

Robust Online & Mobile Security Features  

Security is top priority for banks as digital transactions rise. Premium accounts come bundled with extra online protections like transaction amount controls, geo-tagging for locations, approved device listing and SMS alerts for activities on your linked accounts and cards.

Upgrading unlocks real benefits. Let’s now explore how to smoothly achieve this through FCMB’s available upgrade channels.

Upgrading Your FCMB Account Online

FCMB allows account upgrades to be initiated conveniently via online and mobile banking platforms without visiting a branch. Here are the step-by-step instructions:

1. Log into your FCMB Online Banking 

Access the bank’s website www.fcmb.com or mobile banking app and sign in using your login details. Note that your account must already be registered for online banking to use this upgrade option.

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2. Select “Account Services” 

Locate and tap the “Account Services” link or menu. This section houses account management features.  

3. Choose “Upgrade Account Type”

Scroll to find the “Upgrade Account Type” option amongst the various services listed. Click on it to proceed.

4. Select Target Account 

Review the options showing different higher account types like Current, Savings Plus, Salary etc. and their key specifications. Pick the one aligned with your needs.

5. Fill Out Form with New Details

An online form will appear pre-filled with your existing profile. Update fields as necessary including expected monthly credits if upgrading to a salary account.

6. Make Upgrade Payment

Review and accept the fee for the selected account upgrade before making payment from your linked debit/credit card or by transferring from another FCMB account you own.

7. Verify Upgrade Request  

Double-check all information entered and the payment made matches the advertised fee amount for your selected upgrade.

8. Submit Request for Processing

Click “Submit” to formally request the bank to upgrade your account. Your login credentials remain unchanged.

Within 1-3 working days, log in again to check if your upgrade is “Pending Approval” or fully “Approved”. You’ll then have access to all enhanced account features.

While online upgrades are quite simple, ensure you fulfill the eligibility criteria for your target account type to avoid rejections at verification stage. Let’s look at the offline upgrade process next.

Upgrading Your FCMB Account via Branch Visit

Some customers may prefer the physical verification and guidance offered at a branch. Here are the key offline upgrade process steps at any FCMB location: 

 1. Visit Your FCMB Home Branch

Walk into the branch you normally bank with. Avoid peak hours for faster service. Carry your means of identification.

Check this: FCMB customer Care Whatsapp Number, Phone Number,Email Address and Office Address

2. Inform the Bank Officer 

Approach any available customer service representative and advise them you want to upgrade your account type. They will direct you further.

 3. Complete Physical Upgrade Form 

An FCMB account upgrade form prints from their system pre-filled with your details. Carefully confirm everything and add any missing info. 

 4. Provide Necessary Documents  

Attach clear copies of your identification (international passport recommended), utility bill for proof of address and other documents required based on your target account.

5. Pay Upgrade Fee 

The bank officer will advise the applicable upgrade amount for your choice of account. Pay using your FCMB debit card, transfer from another account or cash/cheque.

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 6. Get Form Submitted

Submit all completed pages of the signed upgrade form along with attached documents for processing at the back office. 

7. Track Upgrade Progress

You can follow up within 48 hours through the branch to check if your application was approved or any deficiencies noted. Process normally takes 1-3 working days.

8. Get Upgrade Confirmation

Once approved, the upgraded account profile will be immediately activated. Collect your refreshed debit card or other credentials for enhanced access.

While requiring slightly more effort than digital upgrades, the offline process ensures proper documentation verification and guidance from skilled relationship officers. Going forward, all your FCMB account servicing needs can also be handled at the same branch.

Popular FCMB Account Upgrade Requirements

Now that we understand the processes, let’s examine requirements in detail for some common FCMB account upgrade options:

Upgrading to Current Account  

  • Minimum Opening Balance: ₦5,000
  • Valid means of identification (National ID, Drivers’ License, International Passport)   
  • Residential address proof (recent utility bill, tenancy agreement etc.)
  • One passport photograph

Upgrading to Savings Plus Account

  • Minimum Opening Balance ₦10,000    
  • Verified BVN and residential address
  • Recent passport photograph
  • Valid ID like National ID Card or International Passport

Upgrading to Salary Account

  • Evidence of regular income/employment (appointment letter, most recent payslip)  
  • Commitment to receive minimum ₦30,000 monthly salary credit 
  • Residential address proof
  • Passport photograph

Do check the bank’s official communication channels or with your relationship officer for any changes to requirements over time as policies are reviewed periodically. Fulfilling needs smoothly expedites your upgrade approval.

Common FAQs about FCMB Upgrades

How do I get my FCMB activation code?

To get your FCMB activation code in Nigeria, you can dial *329# on your mobile phone and follow the prompts to generate your activation code. This USSD code allows you to access various banking services like balance inquiries, airtime top-up, and fund transfers.

What is tier 3 account in FCMB bank?

FCMB’s tier 3 account is their highest account tier that allows for unlimited deposits and withdrawals. To open a tier 3 account, you must provide:

  • A passport photograph
  • A valid means of identification like a national ID or international passport
  • Proof of residence (utility bill)
  • The tier 3 account has no balance limit, unlike the tier 1 account which has a 200,000 naira limit and the tier 2 account which has a 400,000 naira limit

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