Access Bank Plc: Banking and Financial Services for MSMEs

All over the world, micro, small and medium enterprises (MSMEs) have been acknowledged to be engines of economic growth and major contributors to employment generation, wealth creation, poverty alleviation and food security.

Despite the widely acknowledged role of small and medium scale enterprises in fostering economic growth and development, they have continued to face a variety of constraints.

Some of the challenges they face are inadequate infrastructural facilities, shortage of skilled manpower, high rate of enterprise mortality, low level of entrepreneurial skills, lack of enabling operating environment, restricted market access and cumbersome regulatory requirements and many more.

That is why Access Bank Plc, a leading commercial bank has for years partnered with relevant agencies to help empower business operators from the MSMEs segments of the economy.

This is based on the bank’s corporate social responsibility embedded in its long-standing commitment to build sustainable value in the community in which it operates.

Diamond BusinessXpress Account (DBXA) is designed to add value to Micro, Small and Medium Enterprises (MSMEs) to enable them grow their enterprise with smart banking.

It is a flexible current account that allows MSMEs transact at a minimal cost, which helps MSMEs maximize their business profit. This type of account is targeted at;

Business with annual turnover under N500 million

Unregistered business operating with personal names

Registered business as enterprises or limited liability companies

Business currently paying N2,000 or more as COT (commission on turnover) with other banks

What makes Diamond business xpress account special?

Low cost current accounts: DBXA is flexible current account that allows MSMEs transact at a minimal cost, which helps them maximize their business profit.
Business Registration Services: Provide a platform where individual DBXA customers are given the opportunity to legally register their businesses with ease at very competitive rates.
Business Seminars: Access to business seminars designed to address topical business subjects that empower promoters of MSMEs to manage their businesses better.
Business Clinics: Access to seasoned consultants who assist business owners to identify/diagnose the major challenges impeding business success and proffer solutions that will lead to greater business growth.
Business Loans: DBXA offers access to short and medium term financing for working capital & fixed asset needs with reduced collateral requirements (recently approved additional collateral options asides legal mortgage).
Strategy partnership with Government agency and International organizations: Access to both local and international intervention funds
Gender Consideration: Lower rates for women led MSMEs businesses.

Types of diamond business xpress account

Individual (Micro) – Fixed monthly charge of N2,000 for a maximum monthly turnover of N4million; minimum account balance of N5,000.
Basic (Micro) – Fixed monthly charge of N2,000 for a maximum monthly turnover of N4million; minimum account balance of N5,000.
Growing (Small) – Fixed monthly charge of N4,000 for a maximum monthly turnover of N12million; minimum account balance of N10,000.
Established (Medium) – Fixed monthly charge of N7,500 for a maximum monthly turnover of N40million; minimum account balance of N25,000.

Most companies fail because they lack control and structure, we believe lack of governance, control and structure lead to high mortality especially when it has to be a one-man business. We believe that if business is well structured, it will be able to succeed its owner.

Diamond Business advantage DBA is a current account designed to add value to Micro, Small and Medium businesses, MSMEs to enable them to grow their enterprise with smart banking. It is flexible and reduces cost of banking.

DBA Trader lite individual

Min opening Bal N2000,

Min operating Bal N2000

Monthly fixed charge N75

Segment monthly Debit limit N1million

Penalty charge 1%

DBA Trader lite Business

Min opening Bal N5000

Min operating Bal N2000

Monthly fixed charge N75

Segment monthly debit limit N1million

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