Moment Account will make it easier for people to open bank accounts. | By Eki Toju

Wema Bank Plc has launched a new account product for the underbanked and unbanked population in Nigeria.

The product is called ‘Moment Account’, Akin Ayileka, GM & Head, Retail banking Division said in a statement.

The bank said the service would help increase access to banking services.

Ayileka reiterated the Bank’s commitment to supporting the development of its host communities through the provision of accessible and affordable banking services at all levels for individuals and businesses alike.

He added that Moment Account from Wema Bank was an answer to the challenges being faced by Nigerian with regards to accessing banking services.

One of the key features of the Moment Account is that it will allow Customers open accounts with restricted features, without providing the regular forms of identification accepted by banks in Nigeria.

The account will however have an operating limit of N500,000 (Five Hundred Thousand Naira Only) which, once exceeded, will require the account holder to provide further documentation. Account holders will also have access to the Bank’s Wema MasterCard and will be profiled on all mobile banking/online banking channels.

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