How to Open An Account With Universal Merchant Bank Ghana
Maybe you have been wondering how to open an account with Universal Merchant Bank Ghana. We have put together a complete guide on how to open savings and current accounts with Universal Merchant Bank Ghana.
Before you open an account, you need to know the specifics, benefits, and requirements for that account. On that note, we have put together the different types of account a customer can open at any Universal Merchant Bank branch in Ghana.
Contents
UMB Current Account
The UMB Current Account allows you to manage your day-to-day finances and provides you with secure on demand access to your funds through a variety of channels such as internet banking, ATMs, POS and mobile banking.
Top Features and Benefits of the UMB Current Account
- No minimum account balance.
- E-Suite (Internet Banking, SMS Alert E-statement/alert).
- Cheque book 25 leaves for individuals, 50 leaves for corporates.
- Easy payments, transfers and general transactions through bank network as well as alternate channels (24/7 ATMs, 24/7 Internet Banking, POS, 24/7 Mobile Banking and 24/7 Digital Banking Centres).
- Loan and overdraft facility applications for both individuals and organizations.
- Personal Financial Advisor.
UMB Current Account Opening Requirements
- Completion of account opening form.
- Completion of mandate card.
- Two passport size photographs for each signatory.
- Proof of ID for each signatory (valid national ID such as passport, driver’s license, voters ID or national ID).
- Proof of address for individual or organization (Utility Bill , Tenancy Agreement and directions to location).
UMB Direct Saver Account
The UMB Direct Saver Account makes it easy for you to maintain the discipline of constant periodic savings and helps you to build funds for future expenditures such as projects, school fees or retirement.
Top Features and Benefits of the UMB Direct Saver Account
- 24/7 internet banking access and SMS alerts.
- Hassle free account opening process (utility bill not mandatory as account is always linked to another account).
- Balances above GHS5,000.00 may be used as collateral against borrowing on a current account.
- Sweep facility from parent account.
UMB Direct Saver Account Opening Requirements
- Completion of Direct Saver account opening form.
- Completion of mandate card.
- Two passport size photographs.
- Proof of Address
- Proof of ID for each signatory (valid national ID such as passport, driver’s license, voters ID or national ID).
UMB Saver Account
The UMB Saver Account is a great savings tool that will help you to save for future expenditures.
Top Features and Benefits of the UMB Saver Account
- ATM card
- Access to ATMs
- 25 leaflet cheque book.
- Access to E – banking suite (SMS Alert, Internet Banking, Mobile Banking)
- Balances above GHS5000 can be used as collateral against borrowing by the account holder on their current account.
UMB Saver Account Opening Requirements
- Completion of UMB Saver account opening form.
- Completion of mandate card.
- Two passport size photographs.
- Proof of Address.
- Proof of ID for each signatory (valid national ID such as passport, driver’s license, voters ID or national ID).
UMB Foreign Exchange Account
The Universal Merchant Bank Foreign Exchange Account is designed to assist you with your local foreign exchange needs.
Top Features and Benefits of thr UMB Foreign Exchange Account
- Fed with funds transferred from local sources including swift, POS, drafts, cash and cheque deposits.
- Funds can be converted to local currency.
- Subject to BOG Exchange control restrictions.
- Facilitates foreign exchange business transactions and travel needs.
- Allows business people who receive foreign exchange to hedge against currency fluctuations.
- Can be used as collateral for loans.
UMB Foreign Exchange Account Opening Requirements
- Completion of account opening form.
- Completion of mandate card.
- Two passport size photographs.
- Proof of Address (Utility bill / direction to prospects home / call report).
- Proof of ID (Valid national ID such as Passport/ Drivers License, Voters ID/ National ID).
UMB Foreign Currency Account
The Universal Merchant Bank (UMB) Foreign Currency Account is a special current account designed to assist customers with local foreign currency needs.
Top Features and Benefits of the UMB Foreign Currency Account
- Fed with funds transferred from local sources including swift, POS, drafts, cash and cheque deposits.
- Funds can be converted to local currency.
- Subject to Bank of Ghana exchange control restrictions.
- Facilitates foreign exchange business transactions and travel needs.
- Allows business people who receive foreign exchange to hedge against currency fluctuations.
- Can be used as collateral for loans.
UMB Foreign Currency Account Requirements
- Completion of account opening form.
- Completion of mandate card.
- Two passport size photographs.
- Proof of Address.
- Proof of ID for each signatory (valid national ID such as passport, driver’s license, voters ID or national ID).
UMB Young Adult Account
The Universal Merchant Bank (UMB) Young Adult Account is a special account made for parents and children. It is An account opened by parents in trust for children aged 17 to 19 years old, the UMB Young Adult Account allows parents to financially prepare themselves and their wards for the next chapter in their child’s life.
Top Features and Benefits of the UMB Young Adult Account
- Regular lodgement can be set up from parent’s account into Young Adult Account.
- Free 25 leaflet Savings withdrawal book.
- Regular e-statements as well as 24/7 internet banking access and SMS alerts.
- Free standing orders or bank drafts to pay school fees.
- Free E-Suite.
UMB Young Adult Account Opening Requirements
- Completion of Young Adult Account opening form and KYC form.
- Completion of mandate card.
- Two passport size photographs of child and each parent/trustee.
- Proof of address.
- Form of identification for parent/guardian/trustee (valid national ID such as passport, driver’s license, voters ID or national ID).
- Form of identification for child (birth certificate, passport, NHIS or child birth record).
UMB Smart Teen Account
The Universal Merchant Bank (UMB) Smart Teen Account is a special saving account opened by parents in trust for children aged 13 to 16 years old, the Account allows parents to financially prepare for the payment of the fast approaching university fees. Knowing that they are financially covered for major expenditures like university fees, smart teens will be able to focus on what matters, academics and enjoying life as a teenager.
Top Features and Benefits of the Smart Teen Account
- Regular lodgement can be set up from parents’ account into Smart Teen Account.
- Free 25 leaflet savings withdrawal book.
- Free E-suite (regular e-statements as well as 24/7 internet banking and SMS alerts).
- Free standing orders or bank drafts to pay school fees.
UMB Smart Teeb Account Opening Requirements
- Completion of Smart Teen Account opening form and KYC form.
- Completion of mandate card.
- Two passport size photographs of child and each parent/trustee.
- Proof of address.
- Form of identification for parent/guardian/trustee (valid national ID such as passport, driver’s license, voters ID or national ID). Form of identification for child (birth certificate, passport, NHIS or child birth record).
UMB Piggy Bank Account
The Universal Merchant Bank (UMB) Piggy Bank Account is a special saving account opened by parents in trust for children aged 6 to 12 years old, the Account allows them to enjoy the experience of long-term saving first-hand. In fact, as they learn the fundamentals of mathematics in school, the use of the UMB Piggy Bank Account will bring the value of these lessons to life through real-life application.
Top Features and Benefits of the Piggy Bank Account
- Regular lodgment can be set up from parents’ account into Piggy Bank Account.
- Free 25 leaflet savings withdrawal booklet.
- Regular e-statements as well as 24/7 internet banking and SMS alerts.
- Free standing orders or bank drafts to pay school fees.
- Free E-Suite.
UMB Piggy Bank Account Requirements Requirements
- Completion of Piggy Bank Account opening form and KYC form.
- Completion of mandate card.
- Two passport size photographs of child and each parent/trustee.
- Proof of address.
- Form of identification for parent/guardian/trustee (valid national ID such as passport, driver’s license, voters ID or national ID).
- Form of identification for child (birth certificate, passport, NHIS or child birth record).
The UMB ABC Account is a savings account with investment components opened by parents in trust for their children from new-born until they are 5 years old.
Top Features and Benefits of the ABC Account
- Regular lodgment can be set up from parents’ account into ABC Account.
- Regular e-statements as well as 24/7 internet banking access and SMS alerts.
- Free standing order or bank drafts to pay school fees.
- Free 25 leaflet saving withdrawal book.
- Free E-Suite.
UMB ABC Account Opening Requirements
- Completion of ABC account opening form and KYC form.
- Completion of mandate card.
- Two passport size photographs of child and each parent/trustee.
- Proof of address.
- Form of identification for the parent/guardian/ trustee (valid national ID such as passport, driver’s license, voters ID or national ID).
- Form of identification for child (birth certificate, passport, NHIS or child birth record).
UMB Aspire Account
The Universal Merchant Bank (UMB) Aspire Account is a special saving account opened by tertiary students aged 18 years and older who aspire to be financially independent and financially responsible. The UMB Aspire Account allows students to enjoy the full UMB banking experience and to gain greater knowledge of banking as their journey towards independence begins.
Top Features and Benefits of the Aspire Account
- Free ATM card on account opening.
- Free E-statement.
- 24/7 convenient access to funds through ATMs.
- Free standing order or bank drafts to pay school fees.
- Students can conveniently access their account information through:
- UMB E-Suite
- UMB branch network access
UMB Aspire Account Opening Requirements
- Completion of Aspire Account opening form and KYC form.
- Completion of mandate card.
- Two passport size photographs.
- Copy of Student Admission letter or Student ID.
- Proof of ID (valid national ID such as passport, driver’s license, voters ID or national ID).
- Proof of Address: Letter from Hall of Residence (not mandatory).
UMB Silver Saver Account
The Universal Merchant Bank (UMB) Silver Saver Account is a unique saving account designed for the elderly. UMB Silver Saver allows customers aged 50 years and older to receive free banking services and to enjoy a comfortable banking experience at all branches of UMB. Whether saving for an emergency or investing for your future generations, UMB Silver Saver is the right saving product for you.
Top Features and Benefits of the Silver Saver Account
- Free 25 leaflet savings withdrawal booklet.
- Free 24/7 ATM transactions.
- Free E-Suite (internet Banking, SMS Alerts, Telephone Banking, E-statement).
- Free Funeral Insurance.
- Free consultation with Business Manager and preferential treatment at all UMB branches.
UMB Silver Account Opening Requirements
- Completion of Account Opening form.
- Completion of Mandate card.
- Two passport size photographs.
- Proof of Address (Utility bill / direction to prospects home / call report).
- Proof of ID (Valid national ID such as Passport/ Drivers License, Voters ID/ National ID).
How to Open An Account With Universal Merchant Bank Ghana
As earlier mentioned, you need to know the types of accounts available at the Universal Merchant Bank and choose the one that best suit you.
- Visit any branch of Universal Merchant Bank in Ghana.
- Collect the Account Opening Form
- Fill the form appropriately and sign where applicable
- Attach two recent passport photographs with your names on the reverse side
- Attach your means of identification i.e. Drivers license, international passport, voters ID, NIA card or NHIS card.
- Initial deposit i.e the amount of money you want to open your account with.
- Residence permit where applicable
