Home Finance How to upgrade Polaris bank account easily (Online & Offline)

How to upgrade Polaris bank account easily (Online & Offline)

Do you want to upgrade your Upgrading your Polaris bank account but finding hard to do? 

Or are you looking for the best way to on how to upgrade Polaris bank account easily both Online & Offline? If you’re nodding your head right now, this post is for you. 

This comprehensive guide will show you how to easily upgrade your Polaris bank account either online or in person at a branch in Nigeria.

There are many advantages to upgrading your existing bank account:

Access Higher Fund Limits

Most upgraded account types allow you to keep larger balances, sometimes up to several million naira. This gives you more flexibility to save and store funds for big expenses. 

Earn Interest on Savings 

Certain upgraded accounts like savings plans offer interest rates up to 5% per year. Watch your money grow steadily with compound interest over time.

Get Premium Debit Cards

A higher account status may qualify you for digital and physical debit cards with enhanced limits for international purchases and cash withdrawals. 

Borrow within Approved Limits 

Some upgraded accounts make you eligible for personal loans, overdrafts and credit facilities based on your transaction history and repayment capacity. 

Enjoy Exclusive Lifestyle Perks

Premium banking packages offer rewards points, airport lounge access, golf club memberships, and other privileges depending on your package.

Conduct Limitless Transfer and Payments

Transaction limits for online and mobile transfers, bill payments and other types of debits are substantially increased for upgraded accounts.

So in summary, an upgraded bank account can reduce restrictions and unlock a whole new level of value from your banking relationship.

Eligibility for Polaris Bank Account Upgrade

Before starting the upgrade process, ensure you satisfy these basic criteria:

  1. Minimum Balance Requirement

This varies based on your selected upgraded account type, typically between ₦50,000 to ₦500,000. Maintain this balance post-upgrade as well.

  1. Proof of Identity Documents 

Submit clear color photocopies or scanned files of your valid means of identification like international passport, national ID card, driver’s license, or voter’s card. 

  1. Age Requirement

The minimum age to open most upgraded savings plans and packages at Polaris Bank is 18 years. Current accounts may be opened at 16+. 

  1. Source of Funds 
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You need to demonstrate income sources through recent payslips (if employed), tax receipts, business registration documents, or evidence of other legitimate revenues.

Make sure you carefully review each upgraded account’s conditions and are fully eligible before starting the process to avoid delays or rejections.

How to Upgrade Your Account Online 

Here are the step-by-step instructions to easily upgrade your Polaris Bank account via online banking:

1. Log into the Bank’s Website

Navigate to www.polarisbanklimited.com and log into your existing online banking profile. 

2. Locate Upgrade Account Option

On your dashboard, select “Upgrade Account” on the top menu or under profile settings. 

 3. Choose Target Upgrade Account 

Review available upgraded accounts and pick one that suits your needs from the dropdown list. 

4. Enter Opening Balance 

Input the minimum balance amount required or instantly deposit funds through a linked account. 

 5. Upload ID Documents

Attach color scans of your valid identification like international passport data pages. 

6. Input Phone Number 

Provide your active mobile number to receive OTP for verification by text message.

7. Review and Submit Form 

Go through all input details, agree to terms, and click “Submit Upgrade Request”.

8. Await Processing Time

It usually takes 2-3 working days to verify your submitted information and upgrade the account.

9. Receive Upgrade Confirmation

An SMS and email will notify you once processing is complete and your account is upgraded. 

Login anytime to access all features and privileges of your freshly upgraded bank account!

Let’s now discuss the offline upgrade process done at a physical branch.

Upgrading at a Polaris Bank Branch

If you prefer face-to-face assistance, here are the steps to upgrade offline

 1. Locate Your Nearest Branch

Use the bank’s branch locator on their website to find the full-service branch closest to your location.

2. Prepare Required Documents

Carry clear copies of your valid IDs, recent passport photo, and minimum opening balance cash payment. 

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3. Visit the Branch 

Walk into the branch during operating hours and request any upgrade request forms from customer care staff. 

4. Submit Forms and ID Documents

Hand your completed papers and ID details to the account opening representative for processing. 

5. Provide Cash Opening Balance  

Pay the required minimum balance amount using cash denominations approved by the branch.

6. Sign Digitized Forms 

Use your signature or thumbprint to authorize the transaction on the digital signature capture system.

7. Receive Upgrade Approval

An officer will verify your information and process the account upgrade on the banking system. 

8. Get Activation Confirmation 

They will inform you that your upgrade was successful and your account is now functional for use.

Be ready to answer additional verification questions during offline upgrades which usually take 5 working days to complete at most. Let’s now compare various upgraded account options.

Consider factors like interest earnings, transaction flexibilities, minimum balance comfort, and additional benefits while choosing.

Conclusion

In summary, upgrading your Polaris bank account is a straightforward process that can be done online, at a branch or via mobile app. Ensuring eligibility upfront will result in faster approval times. Take your pick from the upgrade options to access higher benefits tailored to your banking needs. You now have the know-how to optimize your banking experience with an enhanced account.

Frequently Asked Questions About Polaris Account Upgrades 

Let’s address some frequently asked questions

Can I use NIN to Upgrade my bank account?

Yes, you can use your National Identification Number (NIN) to upgrade your bank account.

How do I activate my Polaris online banking?

To activate your Polaris online banking, follow these steps:

  • Visit the Online Account Reactivation Portal provided by Polaris Bank.
  • Agree to the Terms and Conditions to reactivate your account.
  • Enter the account number you wish to reactivate and other required details.
  • Submit the information and click Finish to complete the process.

By following these steps on the Polaris Bank Online Account Reactivation Portal, you can successfully activate your Polaris online banking.

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