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Frequently asked questions

[vc_empty_space height=”40px”][/vc_column][/vc_row][vc_row][vc_column width=”2/3″][vc_toggle title=”What’s CloudBank?” style=”round” size=”lg” css_animation=”bounceIn”]CloudBank is a pre registered Microfinance bank with a provisional licence from CBN (Central Bank of Nigeria) to carry out banking and financial services. The Platform is fully hosted by Providus Bank Plc; for settlement  and insured by NDIC.[/vc_toggle][vc_toggle title=”How do I get a CloudBank account?” style=”round” size=”lg” css_animation=”fadeInRightBig”]It’s really easy!

Click on the Sign up link on the right of the web page.

Sign up on our web based dashboard OR download the CloudBank app on either Android or iOS, or visit www.cloudbank.ng, sign up in just a few minutes and you’re done.[/vc_toggle][vc_toggle title=”Is my money safe with CloudBank?” style=”round” size=”lg” css_animation=”bounceInRight”]Your funds is fully protected by NDIC; an insurer of Providus Bank Plc.[/vc_toggle][vc_toggle title=”What fees do you charge?” style=”round” size=”lg” css_animation=”fadeInDown”]Giving you one of the best bank experiences requires a maitenance cost. For personal accounts; we charge 100 Naira and business accounts; it is 250 Naira. Transfer fees are normal transfer bank charges and withdrawals fees . Stamp duties of 50 Naira; apply on deposits on N10,000 and above.

Cash withdrawal in our office requires a withdrawal charge per “000” on Naira and 1% flat on foreign currencies.[/vc_toggle][vc_toggle title=”Do I need to be a Nigerian resident to have a CloudBank account?” style=”round” size=”lg” css_animation=”fadeInLeftBig”]No, you can open your CloudBank account with a valid international passport; and resident permit [For foreigners] / Visa.[/vc_toggle][vc_toggle title=”How much interest do I get on my CloudBank investment?” style=”round” size=”lg” css_animation=”none”]The prevailing interest rate for a 1-year investment is 15.2%* per annum. Rates will vary depending on the investment duration selected.

*Note: Withholding tax is applied on interest earned.[/vc_toggle][vc_toggle title=”How much can I invest?” style=”round” size=”lg” css_animation=”none”]On each investment plan, qualifying investment amounts to range from ₦100,000 to ₦1,000,000,000.00.[/vc_toggle][vc_toggle title=”Can I have more than one savings plan?” style=”round” size=”lg” css_animation=”none”]Yes! At any point in time, you can create up to 5 (five) investment plans in your Cloud Bank app. If you need to have multiple investments towards various goals (for example — a short 3-month investment towards a vacation you’re planning, or setting up a 12-month retirement fund at a higher interest rate than your pension).[/vc_toggle][vc_toggle title=”For how long can I keep my funds locked away?” style=”round” size=”lg” css_animation=”none”]Currently, available investment tenures are from 3—12 months. If you wish to re-invest after an investment has been paid out, it just takes a few clicks in your app.[/vc_toggle][vc_toggle title=”How is interest calculated?” style=”round” size=”lg” css_animation=”none”]Interest rates are calculated based on the investment tenure selected. The longer you lock in funds for, the higher your rates.[/vc_toggle][vc_toggle title=”What is the maturity date?” style=”round” size=”lg” css_animation=”none”]This is the day when your investment has completed the agreed time period, and you receive your full principal and interest payout to your account![/vc_toggle][vc_toggle title=”How do I make withdrawals?” style=”round” size=”lg” css_animation=”fadeInRight”]You can make withdrawals with your Cloud Bank debit card, via our agent banking locations or direct transfer from your Cloud Bank app.[/vc_toggle][vc_toggle title=”Can I opt-out at any time?” style=”round” size=”lg” css_animation=”slideInUp”]Yes. You are free to opt-out at any time. Note that you will no longer earn interest on investments once you do.[/vc_toggle][vc_toggle title=”How do I complain?” style=”round” size=”lg” css_animation=”fadeInRightBig”]You can reach via our social media handles – Twitter @cloudbankng or Call/Whatsapp 07089541277 or via email- hello@cloudbank.ng[/vc_toggle][vc_toggle title=”Do you offer joint accounts?” style=”round” size=”lg” css_animation=”bounceInDown”]Yes, we offer joint accounts. For couples, transaction sharing partners and friends.[/vc_toggle][vc_toggle title=”Can I open a business account with CloudBank?” style=”round” size=”lg” css_animation=”slideInRight”]Yes, you can open a business account with Cloud Bank. All you need to be; is a registered Nigerian business.[/vc_toggle][vc_toggle title=”What age do I need to be to open a Cloud Bank account?” style=”round” size=”lg” css_animation=”top-to-bottom”]Our standard bank account; has a minimum  age limit of Eighteen (18); however we do have designated accounts for minors and seniors.[/vc_toggle][/vc_column][vc_column width=”1/3″][vc_single_image image=”663″][/vc_column][/vc_row][vc_row][vc_column width=”2/3″][vc_column_text]More Questions?
We’re excited to hear your thoughts. You can reach us with your questions on social media or call/Whatsapp 07089541277.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][/vc_column][/vc_row]