Hello Today we’ll be discussing On How to upgrade First Bank account easily (Online & Offline).
First Bank of Nigeria is one of the leading and most recognizable banks in Nigeria. Upgrading your regular First Bank savings account unlocks various benefits and flexibility.
Benefits of Upgrading Your First Bank Account
Some key reasons to upgrade your regular First Bank account include:
- Higher interest payment on account balances
- Discount on certain banking charges and fees
- Access to premium banking lounge at branches
- Free debit card options with rewards programs
- Quick access to loans and overdraft products at lower rates
- Higher daily limits on transactions and withdrawals
Tips for Upgrading Your Account
Follow these useful tips when upgrading your First Bank account:
- Visit home branch for faster processing if upgrading offline
- Leverage self-service platforms for quick online upgrade
- Choose account type based on specific usage – savings, current, salary etc.
- Have valid ID card, passport photo and minimum balance for new account ready before application
- Submit account upgrade confirmation message within 24 hours
How to Upgrade First Bank Account Offline
To upgrade your account at a First Bank branch, take these steps:
- Visit any First Bank branch near you
- Ask to upgrade account from savings to preferred premium type
- Fill and submit account upgrade form attaching necessary documents
- Fund account immediately with defined opening balance
- Collect upgraded account package within 1-3 working days
Documents Required for Offline Upgrade
- Valid means of ID (national ID, driver’s license, voters card etc.)
- 2 recent passport photographs
- Proof of residence (utility bills, rent agreement etc.)
- Employment details if applying for salary premium account
How to Upgrade First Bank Account Online
To upgrade your savings account through online banking, take these steps:
- Login to FirstOnline internet banking platform
- Locate and select ‘Upgrade Account’ option
- Choose the premium account type and plan
- Review terms, fill details and submit upgrade application
- Fund account immediately with minimum opening balance
- Upgraded account is activated within 24 hours
- Notification message sent to registered contact
Information Required for Online Upgrade
- Account number
- BVN
- Valid means of ID
- Email address
- Phone number
- Minimum balance amount etc.
FAQs on How to upgrade First Bank account easily (Online & Offline)
Here are some FAQ with answers On How to upgrade First Bank account easily (Online & Offline).
1. Which First Bank account has the easiest upgrade option?
First Premium Savings Account has the simplest upgrade requirements making it the easiest to upgrade to from a regular savings account.
2. Can I operate both old and new accounts after upgrade?
Yes, you can choose to still operate your old regular savings account alongside the newly upgraded premium account.
3. Is there a fee charged for account upgrade?
No, First Bank does not currently charge any processing fee for upgrading regular savings account to premium variants.
4. What documents do students need to upgrade account?
Students need valid school ID, JAMB letter, BVN, passport photo and applicable minimum balance amount to upgrade account.
5. Do I need to change my ATM card after upgrade?
No, your existing debit card will function normally after upgrade. However, request for new card types now eligible based on account tier.
6. How many days does account upgrade take to complete?
First Bank account upgrade takes between 1-3 working days for both offline and online applications to be fully processed.
7. Can I apply for overdraft after upgrading account?
Yes, upgrading account allows access to special overdraft and quick loan products at discounted interest rates.
8. How much balance is needed to open current account?
Minimum opening balance required for First Bank current account upon upgrade is N100,000 for individuals.
9. Must I visit branch to upgrade salary account type?
No, First Bank also allows initiating salary account upgrade directly via mobile or internet banking without visiting branch.
10. Which premium account types can I upgrade to?
The major account types you can upgrade to are: First Premium Savings, First Current, First Salary, First Investments etc.
11. Can I downgrade after initial upgrade?
Yes, you can revert from the premium account to your old regular savings account within 6 months without extra charges.
12. Is there a mobile app for upgrading account?
Yes, apart from Internet Banking you can also easily upgrade your First Bank account via their FirstMobile app.
13. What are the criteria to qualify for upgrade?
To qualify, you must run an existing savings account. Also have valid ID, BVN, passport photo and ability to make special deposits.
14. How much balance do I need after upgrade?
Minimum post-upgrade balance is N2,000 for savings, N100,000 for current accounts. Failure to fund leads to reversal.
15. Can I upgrade savings account for my children?
Yes, parents/guardians can upgrade existing FirstSave for Kids account to premium types by visiting a First Bank branch.
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Conclusion
Upgrading your First Bank account provides more benefits and convenient access to solutions tailored for you. First Bank offers reliable online and offline channels to seamlessly upgrade account within 24 hours. Walk into any branch nationwide or login to Internet/Mobile Banking to initiate upgrade easily. Reach out for any assistance required during or after account upgrade.
After reading this article now you know How to upgrade First Bank account easily (Online & Offline).
