Nigerian Catholic Reporter Product of the Year: Fidelity Small Business Account (FSBA)

Nigerian Catholic Reporter Product of the Year: Fidelity Small Business Account (FSBA)

Fidelity Small Business Account has emerged Nigerian Catholic Reporter Product of the Year 2014.

The product was selected after a vigorous process involving Micro, Small and Medium Scale business owners in the Catholic Dioceses of Lagos, Abuja, Port Harcourt, Warri, Benin, Enugu, Owerri, Ibadan, Abeokuta, Katsina, Aba, Umuahia, Okigwe, Nsukka, Orlu, and Ahiara.

Fidelity Small Business Account gives businesses the hard start to success. It is Fidelity Bank Plc’s answer to the needs of growing businesses with peculiar solution for the Micro, Small and Medium Scale Enterprises. Fidelity Small Business Account offers attractive benefits such as zero COT, zero monthly charge for small beginners and free advice from professionals.

The Board of Economic News Associates Limited in collaboration with Nigerian Catholic Reporter (NCR) had embarked on this selection exercise to identify banks and other financial institution’s products that were outstanding in helping small businesses to succeed in year 2014.

The selected product is the one that has been adjudged to have pushed the boundaries of innovation, start-up and growth assistance in the micro, small and medium scale business units.

This is the reason Economic News Associates and Nigerian Catholic Reporter are giving this recognition to Fidelity Small Business Account and this reflects the strength of this product in this increasingly challenging operating environment.

Product Focus:
Product objectives:
• To give Micro Small and Medium enterprises (MSMEs) a flexible, low to zero cost opportunity to bank with us especially as they are very discerning and cost sensitive.
• To build a new generation of loyal small business customers
• To give MSMEs a flexible, low cost opportunity to run their business transactions through a bank so as to aid record keeping with the ultimate aim of making them more eligible and ready for loans and investment by interested parties.
• To create an additional avenue for financial inclusion as the product is amongst others, also aimed at bringing MSMEs who are currently outside the formal banking system into the formal banking system.

Key Features & Benefits of the FSBA
• Zero COT
• No fixed monthly charge for all categories
• Access to loans
• Unlimited number of withdrawals
• Access to website building and management services support (for eligible MSMEs)
• Access to company registration/incorporation support
• Minimum initial deposit of N10,000 and minimum daily balance of N10,000 for the Individual-Micro and Starter-Micro categories
• Access to free, periodic business management capacity building seminars (for eligible MSMEs)
• Access to knowledge materials on enterprise development