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Zenith agent banking is a financial inclusion services adopted by Zenith Bank essentially to extend retail banking services to unbanked and under-bank segment of Nigerian economy.

It is not only Zenith Bank that offers agent banking in Nigeria. Almost all banks in Nigeria offer same. Although the name may be different, they all perform the same functions. For instance, First Bank of Nigeria (FBN) calls their agent banking “Firstmonie” while Polaris Bank calls their own “SurePadi”. It is just about branding. They render the same services.

The only question here is, “Why Zenith Bank?” Zenith bank is one of most respected banks in Nigeria. The bank was established as a private company in 1990. But in June 2014, it was listed on the Nigeria Stock Exchange (NSE) thereby became a public limited company. It is interesting to note that the bank also has its shares listed on the London Stock Exchange (LSE). Zenith Bank has its Headquarters in Lagos with over 500 branches spread across all states in Nigeria including the Federal Capital Territory. Its subsidiaries include Zenith Bank (Ghana) Limited, Zenith Bank (Gambia) Limited, and Sierra Leone, Zenith Bank (Sierra Leone) Limited.

Therefore, if you enroll for Zenith Agent banking, you can be sure of doing business with a reputable organization. Besides, the bank is known for deployment of start of the art technologies when it comes to banking. If you want to become Zenith Bank, this means that you are willing to provide some financial services to customers in your community on behalf of the bank. For clarity, below are some of the functions that Zenith Agent Banking perform:

Functions of Zenith Agent Banking

• Account Opening: Customers that want to open a bank account with Zenith Bank may not need to visit any of the bank’s branches before he can do so. They can have the new account opened at any Zenith Agent Banking outlets.
• Cash Deposit: Customers can deposit their cash into their bank account through Zenith Agent Banking outlet close to them. They won’t need to carry cash home or to a far bank location. However, it is important to mention that Zenith Agent Banking outlets don’t accept cheque deposits.
• Cash Withdrawal: Customers can visit any Zenith Agent Banking outlet to make their cash withdrawal as long as the amount is within the regulated limit. The good aspect of this is that, customers can even withdraw outside the regular banking hours. Customers can withdraws on non-working day like Sundays or Public Holidays.
• Funds Transfer: Bank transfer may be from Zenith Bank account into another Zenith Bank account or it can be inter-bank transfer. Inter-bank transfer implies transferring from Zenith Bank account (or different bank) into another bank account.
• Bills Payment: Customers can pay their bills like PHCN, DSTV, GOTV etc through Zenith Agent Banking outlets.
• Airtime Recharge: Customer can easily recharge their mobile phone regardless of their network carrier be it GLO, MTN, Airtel or 9mobile

Benefits of Zenith Agent Banking

You may want to know the benefits you will enjoy as an Zenith Agent Banker. Below are some of the benefits:

• Cash Management: Agents have the opportunity to evacuate cash off their retail premises. This makes the risk low.
• Extra Income: You are not rendering banking services for free. You will enjoy certain commissions on the transactions customers carry out from your outlet.
• Increased Sales: You will have many people visiting your stores. With more traffics coming to you, more people will get to know about what you sell. Some of them may end up buying from you. This will automatically increase your sales. The fact that they necessarily need to pay cash gives you an edge over others.
• Added Value: You will be adding value to your customers. Besides the monetary gains you will enjoy, this makes you more fulfilled.
• Instant Payment Confirmation: You are sure of all the transactions as they are instant. So, there is no fear of losing your money to somebody who may want to withdraw when he is not having money in his account.
• Improved Status: Anybody who can be trusted with money tend to enjoy respect from people.

Apart from the aforementioned benefits, there are certain benefits that customers will also enjoy and these include the following:

• Accessibility: Agents are closers to customers and more accessible. They don’t need to travel far before they can enjoy banking services. This saves them time and money.
• Convenient: The dread of a long queue is one of the things that discourage people from visiting banks. The agent banking makes things easy and convenient for people.
• Security: Customers don’t need to carry cash in a long distance now. They don’t even need to store cash at home with the assurance that they can always get the cash they need per time from agent bankers.
• It accepts all banks: It works like ATMs. Customers can withdraw from any agent banker regardless of your bank.

Requirements for Becoming Zenith Agent Banking

If you want to become Zenith Agent Banking, you will need to visit any of the Zenith Bank office. Request for Agent Banking Form from the Customer Service Unit. They will also give you necessary information you might need. Nevertheless, basic requirement for agent banking include the following:

• An account with Zenith Bank for a period of six months minimum.
• An outlet owned or rented by you for a minimum of twelve months. The outlet can be a market, school, filling station, provision shops, business centres, distributors of mobile network operators, supermarkets, sport viewing centres, and boutiques etc. Essentially, the outlet must have reasonable human traffic.
• The outlet should be able to accommodate a dedicated desk or counter and minimum of one staff that can handle agent banking services.
• You can be a Limited Liability Companies, Cooperative Societies, Sole Proprietorships, or Unregistered SMEs. This means that you can register with either business name (corporate account or in your personal name (an individual account).

Entities Exempted from Becoming Zenith Bank Agent Banking

These entities are exempted from becoming Zenith Bank Agent Banking

• Non-Governmental Organizations (NGOs)
• Faith Based Institutions
• Zenith Bank Staff and Associates
• Bureau De Change (BDCs)
• Not for Profit Organizations

Required Documentations

The documents you will need to submit depend on whether you want to register with a business name or as an individual. If you are registering with business name (Corporate account), you will need the following:

• Duly completed registration form
• Utility Bill for proof of address
• Valid means of identification such as International passport, Driver’s license, National ID card or Voter’s card.
• 2 Passport photographs
• Tax Identification Number (TIN)
• Certificate of Incorporation
• Memorandum and Article of Association

However, if you want to register as an individual, below are the required documentation:

• Duly completed registration form
• Biometric Verification Number (BVN)
• Utility Bill for proof of address
• Valid means of identification such as International passport, Driver’s license, National ID card or Voter’s card.
• 2 Passport photographs

Please note that sign-up is free. You are expected to download agent banking app on an Android device.

Zenith Bank Near Me

Are you searching for Zenith Bank near me? You can use the map below to locate the nearest ones to your place

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