Since the merger of NIC and CBA Bank in 2019 to form NCBA Bank Kenya, this financial institution has risen to become one of Kenya’s premier banking institutions.

The bank offers business accounts that help all types of businesses witness growth while still maintaining room for flexible lending options.

NCBA prides itself as a leader in the Kenyan market driving for financial inclusion by providing essential financial assistance to MSMEs, SMEs, larger businesses and companies. The core of their mission is to catalyse economic empowerment and growth.

As such, NCBA Bank took active steps to ensure that they have customized their business account products and services to accommodate the diverse needs of businesses in Kenya.

In this article, we take a look at the rich portfolio of business accounts that are offered by NCBA Bank to provide economic opportunities for all by helping businesses grow, create jobs and contribute to the overall economic development.

1. Business Collection Account

This is an account appropriate for businesses handling high-volume and high-value transactions. Such enterprises can include schools, churches and real estate management agencies.

The Business Collection Account provides a unique cost-effective banking solution. Here are some of its characteristics:

• Minimum Operating Balance: Sh. 0
• Account Opening Balance: Sh. 0
• Monthly Fees: Sh. 0
• Access to: Online Banking

Features & Benefits

1. Gives you access to a dedicated account Relationship Manager to help you with all your banking needs
2. Free auto-sweep services to your business’s current accounts
3. Free incoming funds transfers
4. Free funds transfers to your own NCBA account
5. Check your account balance with Online and Mobile Banking.

2. Business Current Account

Growing an operational enterprise takes a lot more than what meets the eye. For this reason, one of NCBAs account products includes a Business Current Account designed to provide flexible banking to accommodate varying transaction volumes.

This account is perfect for businesses that are still in their early stages of growth. Here are some of its characteristics:

• Minimum Operating Balance: Sh. 0
• Account Opening Balance: Sh. 2,000
• Monthly Fees: Waived
• Available in: Major Foreign Currencies

Features & Benefits

1. 15 free transactions monthly.
2. Free standing order set-up and processing to your savings account.
3. Free funds transfer to own NCBA accounts.
4. Free first chequebook.
5. Free Gold Debit Card for sole proprietors with the sole or any-to-sign mandate.
6. Access to a Dedicated Relationship Manager.
7. Manage your account conveniently with Online and Mobile Banking.
8. Eligibility to Lipa na M-Pesa services
9. Eligibility for overdraft facilities.
10. Access to loans of up to 100% of the amount in your savings or Fixed Term Deposit account.
11. Gold Credit Cards for directors are subject to terms and conditions.
12. Automatic membership to NCBA Business Club.

3. Business Gold Account

This account was designed with mid-level businesses in mind. Typically, that includes all enterprises that have been running for some time and have achieved consistent profitability over the years whilst maintaining low costs.

Among the advantages of having this account is that it gives access to exclusive networking opportunities from NCBA. It is characterised by:

• Minimum Operating Balance: Sh. 0
• Account Opening Balance: Sh. 2,000
• Monthly Fees: Waived
• Access to: Gold Debit Card

Features & Benefits

1. 40 free transactions monthly.
2. Free first chequebook.
3. Free standing order setup and processing to your NCBA savings account.
4. Gold debit card for directors with ‘sole’ or ‘any to sign’ mandate.
5. Gold Credit Card for company directors, subject to terms and conditions..
6. Manage your account conveniently with Online and Mobile Banking.
7. Eligibility for Lipa na M-Pesa services.
8. Dedicated business advisor.
9. Automatic membership to NCBA’s Business Club.
10. Eligibility for overdraft facilities.
11. Opportunity to invest in Unit Trust funds.
12. Access to loans of up to 100% of the amount in your savings or Fixed Term Deposit account.

Trade Nairobi Stock Exchange shares profitably through NCBA OST platform

4. Business Pay As You Go

The Business Pay As You Go account is perfect for startups and entrepreneurs who have set their sights high.

However, their enterprises are struggling with low and/or inconsistent cash flow. It is characterised by:

• Minimum Operating Balance: Sh. 0
• Account Opening Balance: Sh. 2,000
• Monthly Fees: Sh. 0
• Access to: Lipa Na M-Pesa

Features & Benefits

1. Available in Kenya Shillings (Sh.) only.
2. Access to a Dedicated Relationship Manager.
3. Access to a chequebook.
4. Access to a debit card for sole proprietors and any to sign mandate.
5. Gold Credit Card for company directors, subject to terms and conditions.
6. Manage your account conveniently with online and Mobile banking.
7. Free standing order set-up and processing to your savings account.
8. Eligibility to Lipa na Mpesa services.
9. Free monthly e-statements.
10. Access to savings-backed loans of up to 100% of the balances in your savings or Fixed Term Deposit account.
11. Automatic Membership into NCBA Business Club.
12. Access to credit and loan facilities is subject to Credit Terms and conditions.

5. Business Platinum Account

This is an account that is ideal for business handling high transaction volumes. It provides entrepreneurs with a premium banking experience with added benefits to support the complex needs of their business operations.

Here are some of its characteristics:

• Minimum Operating Balance: Sh. 5,000
• Account Opening Balance: Sh. 2,000
• Monthly Fees: Waived
• Access to: Premier Banking Lounges

Features & Benefits

1. A dedicated Senior Business Relationship Manager to help you with all your banking needs.
2. 100 free monthly transactions.
3. Free monthly e-statements.
4. Free first chequebook.
5. Available in Kenya Shillings only.
6. Free Keyman Insurance cover of up to Kshs 100,000.
7. Automatic membership to NCBA Business Club.
8. Eligibility to overdraft facilities.
9. Access to a Gold Credit Card for company directors, subject to terms and conditions.
10. Manage your account conveniently with Online and Mobile banking.
11. Eligibility for Lipa na M-Pesa.
12. Available in Kenya Shillings and all major foreign currencies.
13. Discounted cash handling fees for transactions above KES 1 million.

Additional Benefits

While NCBA Bank brings tailored solutions to ensure your business banking experience is rewarding, other tools are available to help you thrive.

One of them is an NCBA Business Credit Card which allows an individual to organise their business expenses and enjoy worldwide acceptance with an NCBA Visa® Business Credit Card. Here are some of its features:

Features

1. Flexible Limits
2. Access to Online Banking
3. 50 days interest-free period
4. Available in KES and USD
5. Free Emergency Support