Corporate Current Account

The Corporate Current Account is a transactional cheque account specifically designed for Corporate and Premium customers . Unlike personal or small business accounts, this product is intended for larger organizations that require a formal banking solution to manage high-volume transactions, issue cheques, and maintain professional financial records.

This account offers several practical features for corporate customers . There is no minimum balance requirement, giving corporations flexibility in managing their cash flow without worrying about falling below a prescribed limit. The initial deposit required is MWK 50,000, and this amount may be withdrawn after the account is opened, meaning it does not need to remain locked in the account. Customers can access their funds from any NBS Bank Service Centre, providing convenience for organizations operating across different locations. Additionally, interest is paid annually on the account balance, allowing corporations to earn a return on their working capital.

To open a Corporate Current Account, you must provide several legal and organizational documents . These include the Certificate of Incorporation, which confirms your company's legal registration, and the Memorandum and Articles of Association, which outline your company's governance structure and operational rules. A Board Resolution to open the account is required, demonstrating that your company's board of directors has formally authorized the account opening. Finally, valid identification documents such as passports or driving licenses are required for all authorized signatories who will operate the account.

While both accounts serve business customers, they target different segments. The Corporate Current Account is designed for larger corporations and premium customers, requiring an initial deposit of MWK 50,000 . The Medium Enterprise Current Account, by contrast, is intended for Small and Medium Enterprises with a lower initial deposit of MWK 30,000 . Both accounts share similar features including no minimum balance, interest paid annually, and access to funds from any NBS Service Centre. The key difference lies in the target market and the documentation requirements, with corporate customers needing more formal incorporation documents compared to SMEs which may operate as sole proprietorships or partnerships.

While the Corporate Current Account page does not specify overdraft terms, NBS Bank offers an SME Overdraft Facility that may be relevant for smaller businesses . For corporate customers specifically, overdraft arrangements would typically be negotiated directly with the Bank based on the company's financial standing, turnover, and credit history. Corporate customers interested in overdraft facilities should contact their relationship manager or visit any NBS Bank Service Centre to discuss customized solutions.

Beyond the standard current account features, NBS Bank provides additional services that benefit corporate customers. The Bank offers SME and corporate banking solutions including asset finance, order finance, and bid bonds or tender guarantees of up to MK200 million without requiring collateral. Corporate account holders may also access specialized trade finance services, bulk payment processing, and dedicated relationship management. For specific information on available corporate banking products, customers are advised to contact NBS Bank directly or visit any NBS Bank Service Centre.