Banking is an essential part of modern life that enables us to conveniently store, manage and grow our money. However, as our financial needs and lifestyle evolve over time, we often outgrow the basic banking services of our starter bank accounts. If you’ve been banking with Jaiz Bank for a while using a basic or entry-level account but now need more advanced features, it’s a good idea to consider upgrading your account.
An upgraded Jaiz bank account unlocks a wide range of powerful benefits that can significantly improve your banking experience. You’ll gain higher transaction limits for increased flexibility and spending power. Special rates on loans, mortgages and investments also become available to grow your wealth efficiently. Additional perks like travel insurance, luxury debit cards and priority branch services further enhance banking convenience and privileges.
In this comprehensive guide, I’ll explain everything you need to know about how to upgradeJaiz Bank account in Nigeria step-by-step. We’ll cover the eligibility requirements, available upgrade options and their key features, as well as a detailed comparison to help you select the right plan for your needs. You’ll also learn about the application process both online and offline via branch visits. So let’s get started!
Eligibility Criteria for Upgrading Your Jaiz Bank Account
Before initiating the upgrade process, you must fulfill these basic criteria:
Minimum Account Tenure
Your existing Jaiz Bank account should be at least 3 months old in good financial standing without any irregularities. This shows banking familiarity and credibility.
Proof of Identity
You’ll need to present a valid government-issued photo ID like your international passport, national ID card or driver’s license for verification. Make sure it’s not expired.
Minimum Balance Requirement
Most upgraded accounts mandate maintaining an average monthly balance ranging from N15,000 for a basic plan to N200,000 for premium packages. Check specific plans for their balance rules.
Evidence of Income
Salary slips for employees, business documents like CAC registration for companies or investment portfolio statements for entrepreneurs/investors are examples of accepted income proofs.
Nigerian Residency
As a Jaiz Bank customer, you need to reside full-time in Nigeria with a permanent residential address in the country.
If you meet these preliminary criteria, then you can start considering suitable upgrade plans based on your banking and financial goals.
Available Upgrade Plans at Jaiz Bank
Jaiz Bank offers the following main types of upgraded accounts to cater to different customer segments:
Salary Account
Targeted at salaried workers, it provides features like faster loan processing, income tax support and payroll management tools. Minimum balance is ₦30,000.
Savings Plus Account
For individuals looking to maximize interest on deposits, it pays higher interest rates on balances above ₦50,000 with reduced fees.
SME Business Account
Caters to small businesses, combining payment collection, accounting and credit services to manage cashflows efficiently. Threshold is ₦100,000 balance.
Corporate Salary Account
A full-fledged corporate banking solution offering payment disbursement, payroll processing, cash management and other specialized tools for large companies.
Premium Banking Account
A premium private banking package with top-tier benefits like travel insurance up to ₦5 million, personalized wealth managers and exclusive merchant discounts. Minimum is ₦1 million balance.
While features vary across these account types, some common benefits include higher ATM withdrawal limits, flexible credit/debit cards, priority branch services, discounted interest rates on loans and more investment schemes.
Upgrading Your Account Online via the Jaiz Mobile App
Once you’ve decided on an ideal upgrade plan, initiating the process digitally on the Jaiz Mobile Banking App is a breeze. Here are the steps:
Step 1: Login to the App
Enter your login credentials to access your account homepage.
Step 2: Select ‘Upgrade Account’
Locate and tap this option on the home screen or main menu.
Step 3: Choose Your Upgrade Plan
Review details of available plans and select one by tapping on it.
Step 4: Enter Your Details
Fill all required information fields like Income details, ID proofs etc.
Step 5: Upload Documents
Attach clear scanned copies or pictures of the documents via the app.
Step 6: Make Opening Deposit
Transfer the specified minimum deposit amount online.
Step 7: Review and Submit
Check all inputs, read terms and conditions and submit the application.
Step 8: Wait for Approval
An officer will process and respond within 2 working days via SMS/email.
This digital application process takes under 15 minutes to complete from anywhere, anytime as per your convenience.
Upgrading Via Physical Branch Visit
Alternatively, you can also visit the nearest Jaiz Bank branch office to initiate the upgrade process manually:
Step 1: Visit Your Nearest Branch
Carry all required documents and sufficient cash deposit amount.
Step 2: Inform Bank Staff
Notify the frontline staff about your account upgrade request.
Step 3: Fill Upgrade Form
Complete provided form with personal details, ID scans and income proofs.
Step 4: Submit Documents and Deposit
Hand over completed forms along with opening deposit amount.
Step 5: Document Verification
Officials will promptly verify your submissions on the spot.
Step 6: Receive Approval
Wait to collect your approved upgraded debit card before leaving.
Branch visits take around 30 minutes usually and provide instant account upgrades or assistance if needed.
Frequently Asked Questions
Can I create a Jaiz bank account online?
Yes, you can create a Jaiz bank account online. Jaiz Bank offers an online account opening platform that allows customers to open an account from anywhere in the world.
Can I apply online bank account?
Yes, you can apply for a bank account online with various banks like Wells Fargo, Bank of America, Chase, and more, including online banks and credit unions. Additionally, Jaiz Bank offers an online account opening platform where you can create an account online, either through an Express Account or an Additional Account.
Conclusion
Upgrading your starter Jaiz bank account unlocks a world of advanced features to suit your evolving financial needs seamlessly. Both the online app and in-branch routes ensure a simple process within minutes. Now you have no excuse to not maximize your banking services – go ahead and initiate the upgrade using this step-by-step guide. Let me know if any other questions come up!
