Starter Business Requirements

What is a Starter Business?

A Starter Business is designed for individuals, freelancers, and small merchants who haven't yet registered with the CAC (Corporate Affairs Commission). This allows you to start testing your business idea and accepting payments quickly.

Required Documents

To activate a Starter Business, you need to provide the following:

1. Government Issued ID: We accept valid NIN (National Identity Number) Slips/Cards, International Passports, Drivers Licenses, or permanent Voters Cards.
2. Bank Verification Number (BVN): This is used solely to verify that the name on your government ID matches the name associated with your bank account. We do not have access to your bank balance or private financial data.
3. Proof of Address: A utility bill (Electricity, Lawma, Water) or a stamped bank statement from the last 3 months. The address must be your residential address.

Limitations of Starter Accounts

• Processing Limit: You can process up to ₦2,000,000 (Two Million Naira) in total. Once you hit this limit, you must upgrade to a Registered Business account.
• Payouts: You can only settle funds into a personal bank account that matches your name on the government ID.