There are 3 different account tiers based on regulatory requirements set by the Central Bank of Nigeria. These Tiers determine the limits on transactions, deposits, and documentation requirements. They are;

1. Tier 1

∙ Requirements::

o Minimum documentation (BVN, name, address, email, gender, Date of birth, and phone number).

∙ Limitations:

o Maximum single deposit: ₦50,000

o Maximum cumulative balance: ₦300,000

o Transfer limit per transaction: ₦10,000

o Maximum transaction limit per day: ₦30,000

2. Tier 2

∙ Features:

o Customer account must be on Tier 1 to be upgraded to Tier 2

o NIN is mandatory.

∙ Limitations:

o Maximum cumulative balance: ₦500,000

o Maximum single deposit: ₦100,000

o Transfer limit per transaction: ₦100,000

o Maximum transaction limit per day: ₦200,000

3. Tier 3

∙ Features:

o Customer account must be on Tier 2 to be upgraded to Tier 3

o Recent Utility bill within the last 3 months

∙ Limitations:

o Maximum single deposit: ₦5,000,000

o Transfer limit per transaction: ₦1,000,000

o Maximum transaction limit per day: ₦5,000,000

o Maximum cumulative balance: No limit