FAQs On Current Account

[Stanbic IBTC team]

Q1. What is the minimum opening balance for Current Account?
A. Opening Balance for current account is N10,000.

Q2. Can I lodge in a dividend warrant into my current account?
A. Yes, you can lodge in a dividend warrant into the current account. But The account must have been operated for 6 months

Q3. Am I eligible for a temporary overdraft on my Current account?
A. Yes, but you need to have operated your account for up to 6 Months to enjoy the facility.

Q4. How are Commission on Turn-over (COT) charges calculated?
A. COT is charged N1/Mile for every withdrawal i.e. for every N1000 withdrawn you are charged N1.

Q5. When is COT charged on Current account, is it daily or Monthly?
A. COT is not charged on salary and SME accounts at Stanbic IBTC Bank.