Bank Review: Zenith Bank—Everything you need to know

With more than 1.6 million customers, 500 branches, and a shareholder base of more than 500,000, Zenith Bank Plc is considered one of the leading banks in Nigeria.

Everything you need to know about Zenith Bank Nigeria

Zenith Bank Plc is a financial institution that provides corporate, investment, and retail banking products and services in Nigeria.

With more than 1.6 million customers, 500 branches, and a shareholder base of more than 500,000, Zenith Bank Plc is considered one of the leading banks in Nigeria.

This article covers the products and services offered by Zenith Bank Plc.

History of Zenith Bank

Zenith Bank Plc was established in May 1990 by Jim Ovia.

It started operations in July 1990 and its first branch was established in a residential area in Victoria Island.

Zenith Bank was one the first banks in Nigeria to use the internet to promote its products and services. It was also one of the pioneers of online banking in Nigeria.

Zenith Bank became a public limited company in June 2004. Since then, Zenith Bank Plc has grown its shareholder base to more than half a million.

It also has subsidiaries in Ghana, Sierra Leone, Gambia and it plans to expand to other African and Asian countries.

Zenith Bank has won the award as Nigeria's Best Bank for 3 consecutive years In The Global Finance Best Banks Awards.

It was also voted the Best Commercial Bank in Nigeria in the World Finance Banking Awards 2021.

Corporate social responsibility

Zenith Bank Plc promotes social and economic growth in Nigeria through its Corporate Social Responsibility (CSR) projects.

Their aim is to “give back” to communities by carrying out projects aligned with the United Nations Sustainable Development Goals.

Zenith Bank’s key focus areas are health, education, sport /youth empowerment, and infrastructure development.

Its social initiatives are focused on eradicating poverty, encouraging skills development, and supporting the Nigerian government’s effort at achieving growth and development.

You can learn more about Zenith Bank’s CSR projects here

Zenith Bank’s products and services

These are bank accounts, loans, and other products and services offered to individuals, businesses, and corporations in Nigeria.

These products and services are:

Zenith Bank’s personal bank accounts

Zenith Bank offers current, savings, salary, and domiciliary accounts to individuals living in Nigeria. Some of its personal bank account products are:

Individual current account

Zenith Bank’s individual current accounts enjoy access to the bank’s digital channels, cards, and chequebooks. No amount is required to open the account.

Requirements
  • A filled out and signed account opening form
  • One passport photograph
  • A valid means of identification (driver’s license, international passport, national identity card or voter’s card)
  • Residence permit (where applicable)
  • Two independent references
  • A utility bill issued within the last three months (PHCN bill, water bill, rent receipt, etc. )

Individual savings account

This account is for individuals that want to save and earn interest on their money. No amount is required to open the account.

Requirements
  • A filled out and signed account opening form
  • One passport photograph
  • Means of Identification (driver’s license, international passport, national identity card or voter’s card)
  • Residence permit (where applicable)
  • Two independent references (for cheques over N2 million Naira)
  • A utility bill issued within the last three months (PHCN bill, water bill, rent receipt, etc. )

EazySave classic account

The EasySave classic account is a type of savings account that requires minimal documents to open.

EazySave account owners can deposit a maximum of N50,000 ($119.07) at once and they can not have more than N300,000 ($714.43)  in the account. No amount is required to open the account.

Requirements

Salary savings account

The Zenith salary account is an interest-earning account for people that earn a monthly income.

Requirements

  • A filled out and signed account opening form
  • One passport photograph
  • A letter of introduction from your employer on the company’s letterhead
  • Your staff identity card
  • Two independent references (for cheque deposits)

Ordinary domiciliary account

This is a foreign currency account for Nigerians to perform foreign transactions online or at any physical Zenith bank location.

The account operates in USD, GBP & EUR.

Requirements
  • A filled out and signed account opening form (existing account holders with full documentation can also open a domiciliary account with only a request letter)
  • One passport photograph
  • A valid means of identification (driver’s license, international passport, national identity card, or voter’s card)
  • Visitation report (residence)
  • Two independent references (for cheques over N2 million Naira)
  • A utility bill issued within the last three months (PHCN bill, water bill, rent receipt, etc. )

You can learn more about Zenith Bank’s other current, savings, salary, and domiciliary accounts here.

How to open a Zenith Bank account

You can open a Zenith Bank account in two ways:

  1. By visiting a Zenith Bank branch with the required documents
  2. By visiting Zenith Bank’s website and following the prompts here

Business and corporate solutions

These are bank accounts and other financial structures offered to businesses and cooperatives operating in Nigeria.

Some of Zenith Bank’s business solutions are:

Sole proprietorship/enterprise account

This is an account suited for sole proprietors and micro-businesses in Nigeria.

Requirements
  • A filled and signed account opening form
  • Two specimen signature cards
  • Two independent references
  • Two passport photographs of each signatory
  • A valid means of identification for each signatory (driver’s license, international passport, national identity card or voter’s card)
  • An original certificate of registration
  • CAC certified registration application forms (Original and photocopy)
  • A photocopy and original of a utility bill
  • An initial deposit amount (as requested by the bank)
  • Visitation report (official and residential)
  • Risk assessment form
  • Additional KYC form

Clubs, societies, associations account

There are bank accounts for groups and societies to manage their financial transactions.

Requirements
  • A filled and signed account opening form
  • Two specimen signature cards
  • Two independent references
  • Two passport photographs of each signatory
  • A resolution or letter signed by the president/chairman and secretary of the group
  • A copy of the group’s constitution/rules
  • A document introducing the account’s signatories and the group’s mandate
  • A photocopy and original of a utility bill
  • A valid means of identification for each signatory (driver’s license, international passport, national identity card or voter’s card)
  • An initial deposit amount (as requested by the bank)
  • Visitation report (official and residential)
  • Risk assessment form
  • Additional KYC form

Partnership accounts

This is an account for partnership businesses.

Requirements
  • A filled and signed account opening form
  • Two specimen signature cards
  • Two independent references
  • Two passport photographs of each signatory
  • Means of Identification for each signatory (driver’s license, international passport, national identity card or voter’s card)
  • Residence permit (if applicable)
  • An original certificate of registration
  • An original registration application form
  • A partnership agreement signed by the business partner’s
  • A photocopy and original of a utility bill
  • An initial deposit amount (as requested by the bank)
  • Visitation report (official and residential)
  • Risk assessment form
  • Additional KYC form

Trust funds

This is an account for individuals or families that want to pass down and preserve large amounts of family money.

Requirements
  • A filled and signed account opening form
  • Two specimen signature Cards
  • Two independent references
  • Two passport photographs of each signatory
  • A copy of the trust fund’s charter or constitution
  • Means of Identification for each signatory (driver’s license, international passport, national identity card or voter’s card)
  • A resolution by the trustees to open the account. The resolution must include the stating venue and the people present. It must also be signed and sealed by the chairman and secretary of the trust fund.
  • An initial deposit amount (as requested by the bank)
  • Visitation report (official and residential

Corporate internet banking

This is an internet banking platform for Zenith Bank’s business and corporate customers to manage their business accounts, make bulk payments, administer payroll, monitor trade transactions, and other banking activities.

Businesses can register for Zenith’s corporate internet banking by visiting any Zenith Bank branch with a filled-out Zenith corporate i-bank application form.

Businesses can also send an email to eproductsupportunit@zenithbank.com.

Scan to pay

Scan-to-pay is a payment solution that allows merchants receive payments from customers through a QR code. Registration is free for businesses.

How to register for Zenith’s scan to pay (merchants)

Simply visit any Zenith Bank branch near your OR

  • Download the Zenith Scan to Pay app from the Playstore or Appstore
  • Register as a merchant
  • Create your password and 4-digit PIN

Other Zenith Bank’s business and corporate banking solutions are SME grow my business, business services, merchant services, and corporate banking.

Zenith Bank loans

Although most of Zenith Bank’s loans are for businesses and corporations, Zenith Bank also has loan options for individuals.

Some of Zenith’s loan offerings are:

Z-woman SME loan

The Z-woman loan is for female-owned or majority-owned SME businesses in Nigeria.

The loan has an interest rate of 9% p.a and businesses in different sectors can apply for the loan.

The Z-woman SMEloan also has a maximum loan amount of N10 million and a maximum loan limit of 12-24 months.

Businesses can apply for the  Z-woman loan by visiting any Zenith Bank branch.

Businesses can also send an email to agentbanking@zenithbank.com to learn more about the loan requirements.

Retail loans and schemes

These are loans for individuals to finance their personal needs, buy household assets and vehicles, or purchase a house.

Salary advances also fall under this category. You can apply for a salary account here.

You can also learn more about Zenith’s retail loans by sending an email to zenithdirect@zenithbank.com or visiting a Zenith Bank branch near you.

Education loan

This is a short-term loan for parents and guardians to pay their children’s school fees and other tuition fees.

The borrowed amount is deposited directly into the school’s account and parents can borrow up to N5 million Naira.

The loan has a maximum repayment period of 3 months (for junior school) and 9 months (for tertiary institutions)

Requirements
  • A filled out and signed application form
  • The parent/guardian must have a salary account with Zenith Bank.
  • The child must have an account with Zenith Bank.
  • An invoice of the school /tuition fees

Parents and guardians can apply for the loan by visiting any Zenith Bank branch with the required documents.

Other types of loans offered by Zenith bank are MSME loans, creative industry financing initiative (CIFI), overdrafts, timeless loans, receivable discounting / invoice discounting, IPO finance, import and export finance facility, term loans, lease, and bonds & guarantee.

You can find out about each loan here

Zenith Bank’s diaspora banking

Zenith diaspora banking is a collection of bank products and services for Nigerians living abroad.  Some of its Diaspora banking services are:

Zenith diaspora account

Nigerians in the diaspora can open a Zenith bank account online from anywhere in the world.

Diaspora accounts can request for Zenith’s debit, credit, or prepaid cards in Naira or any major foreign currency (USD, GBP, and EUR).

Requirements
  • A valid means of Identification (from a Nigerian authority or a notarized foreign international passport).
  • Public utility receipt
  • Notarised proof of foreign address or a bank statement from a foreign bank.
  • BVN
  • One passport photograph.
  • Two Nigerian references (they must own a current account)  

To open a Zenith diaspora account, simply fill out the account opening form and follow the prompts here.

BVN enrollment

A bank verification number (BVN) is required to open or operate any Nigerian account.

Nigerians in the diaspora can apply for their BVN from any of Zenith Bank's diaspora BVN enrollment centres in 15 countries.

You can learn more about how to register for your BVN here.

Other diaspora banking products offered by Zenith Bank are:

  • Zenith Bank home remittance
  • Zenith Bank mortgage banking services
  • Financial advisory Services
  • Medical vouchers (Z-med)
  • Concierge services
  • Foreign currency fixed deposit

You can learn more about Zenith’s diaspora banking services by clicking here or by sending an email to diasporabankinggroup@zenithbank.com.

How to bank with Zenith Bank

There are different ways to access Zenith Bank’s products and services. They are:

Zenith mobile bank app

The Zenith mobile bank app is available on both IOS and Android devices. With the bank app, you can:

  • Manage your Zenith Bank account
  • Chat with Zenith Bank’s customer care team
  • Report POS, web, or ATM errors
  • Pay bills
  • Transfer money to other accounts

How to register for Zenith Bank’s mobile app

  • Download the app from the Playstore or Appstore
  • Input your account number and tap Continue
  • Choose your mode of registration and follow the prompts on the screen. You can choose between the hardware/token option, card option, and OTP (SMS) option
  • Create and confirm a password (six digits)
  • Create and confirm a Mobile PIN (four digits)
  • Tap Submit. You will be redirected to the login page to login with your account number and password.

Self-service portal

The Zenith Bank self-service portal is a collection of articles customers can use to solve their bank issues without a Zenith Bank customer care agent.

You can view its self-service portal here.

Zenith Bank’s USSD Banking (*966# EazyBanking)

Zenith Bank’s EazyBanking (*966#) allows Zenith Bank customers to access the bank’s services without an internet connection.

You can only transfer N100,000 Naira ($238.14) and purchase airtime of N3,000.00 ($7.14) daily.

How to open a Zenith Bank account with *966# (EazyBanking)

Dial*966*0# on your move phone and follow the prompts on your screen.

You do not need to fill a form and you will receive your account number via SMS.

How to check your Zenith Bank account balance with *966# (EazyBanking)

Dial *966*00# on your mobile phone and follow the prompts on your screen.

How to buy airtime with *966# (EazyBanking)

Dial *966*amount*mobile number# (e.g. *966*1000*0803456789#) with your registered Zenith Bank phone number

How to transfer money from a Zenith Bank account with *966# (EazyBanking)

Dial *966*amount*account number# (e.g. *966*1000*1234567890#) with your registered Zenith Bank phone number and follow the prompts on your screen.

How to reset your mobile banking/USSD password with *966# (EazyBanking)

Dial*966*60# on your mobile phone and follow the prompts on your screen.

How to register for *966# (EazyBanking)

  • Dial *966*00# with the phone number attached to your Zenith Bank account
  • Input the last 4 digits of your Debit card number.
  • Create and confirm a 4-digit PIN
  • You will receive an SMS with your account balance of the registration is successful.

Zenith Bank internet banking

Zenith Bank customers can manage their Zenith Bank account, transfer funds, and perform other banking activities via the bank’s online portal.

You can register for Zenith Bank’s internet banking by filling out the internet banking form at any Zenith Bank branch near you.

Zenith Bank cards

Zenith Bank offers different types of Dollar and Naira denominated cards to local and diaspora individuals, businesses, and corporations. Its card offerings include:

  • Zenith virtual card
  • Credit cards (Classic, Gold, and Platinum)
  • Debit cards (Mastercard Gold and Platinum debit card)
  • Prepaid cards

You can learn more about the benefits of each card here.

You can also apply for a Zenith Bank card by visiting any Zenith Bank branch near you.

Zenith Bank ATMs

Zenith Bank has more than 365 ATMs in Nigeria. At a Zenith Bank ATM, you can:

  • Withdraw money
  • Buy airtime
  • Pay bills
  • Transfer money

You can find a Zenith Bank ATM close to you here

Zenith Bank’s international money transfer

Zenith Bank customers and non-customers can receive money from abroad with their domiciliary account.

You also have the option of picking up the received funds in cash from any Zenith Bank branch.

Requirements

  • You must be 18 years old
  • The transaction PIN
  • The expected amount in USD
  • The receiver’s BVN
  • A valid means of identification(Nigerian international passport/foreign passport, driver’s license, permanent voters card, NIMC card)
  • The sender’s name and address
  • The receiver’s name, address, and phone number
  • Pick-up Cash in US Dollars

Zenith Bank customers can also receive money from anywhere in the world through the bank’s 16 International money transfer agents.

Western Union

Moneygram

Flutterwave

Naira Gram Llc

Worldremit

Boss Revolution (Idt)

Cashpot

Azimo Limited

Firstapple

Venture Garden

Smallworld

Global Currency Travel And Tours

Sendwave

Simplify

ACE Money Transfer

Acemoney Transfer (Aka Aftab Currency)

Frequently asked questions

What is Zenith Bank’s contact information

Head office: Plot 84, Ajose Adeogun Street, Victoria Island

Lagos, Nigeria.

Tel: 0700-ZENITH-BANK

Email address: zenithdirect@zenithbank.com or  diasporabankinggroup@zenithbank.com

You can click here to find any Zenith Bank or ATM near you.

How to activate USSD code for zenith bank

Simply dial *966# on your mobile phone.

Zenith’s USSD code is free to activate and you do not need to visit any bank branch.

How to borrow money from zenith bank

You can apply for a Zenith Bank salary loan here.

What is Zenith Bank’s SWIFT code

ZEIBNGLA

You can learn more about Zenith Bank’s SWIFT service here

What is Zenith Bank's customer care number

You can call 234-1-2787000, 234-01- 2781740, 2782273, or 0700ZENITHBANK to speak with a Zenith Bank customer care agent.

You can also send an email to zenithdirect@zenithbank.com.

What is Zenith bank’s website

You can visit Zenith Bank’s website here.

You can also visit its official Twitter, Meta(Facebook), YouTube, WhatsApp, LinkedIn, and Instagram pages.

Conclusion

Zenith Bank’s mobile and internet banking platforms are not reliable. Customers find it hard to use or even open the bank's mobile app.

Apart from that, it is no surprise that Zenith Bank is one of Nigeria’s leading banks.

Its products are easy to sign up for and its debit card is one of the few Nigerian cards accepted on international websites.

Source

https://en.wikipedia.org/wiki/Zenith_Bank

https://www.zenithbank.com/