Home Bank FCMB or Fidelity Bank Which One Should You Bank With

FCMB or Fidelity Bank Which One Should You Bank With

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FCMB or Fidelity Bank

FCMB and Fidelity Bank are among the underrated banks in Nigeria. But if it comes to choosing between FCMB or Fidelity Bank when opening a bank account which will you choose. Well we have put together a simple comparison to help you make the decision.

Please note that this comparison is not meant to make any of Bank look bad. FCMB and Fidelity Bank are very good Nigeria Banks that provide wonderful services. However, there are some things you should take into consideration before you open an Account with any bank.

The comparisons will be from how easy it is to open a Bank Account in these banks. Their customer service and response rate. The mobile banking and internet banking among others.

FCMB or Fidelity Bank

We are about getting to do some major comparison between these Banks. By the end if this article, you should see reasons why you can pick either of these banks to open an account and bank with them.

Comparison Between FCMB And Fidelity Bank of Nigeria

To begin lets start with the different means of opening a Bank Account in both of these banks

Ways To Open Bank Account
FCMB Nigeria(First City monument Bank)

There are about 4 ways to open Bank Account with FCMB of Nigeria. The ways are as listed below

  • FCMB Mobile App.
  • Through the internet using the FCMB website. You can read this Step by Step Guide on how to open the FCMB account using their website..
  • Using the FCMB short code.
  • Visit any FCMB branch in Nigeria
Fidelity Bank of Nigeria

There are about 4 ways to open Bank Account with Fidelity Bank of Nigeria. The ways are as listed below

  • Fidelity Bank Mobile App.
  • Through the internet using the Fidelity Bank website. You can read this Step by Step Guide on how to open the Fidelity Bank account using their website.
  • Using the Fidelity Bank short code.
  • Visit any Fidelity Bank branch in Nigeria

There is no much difference here as the two banks almost same ways of opening bank accounts in Nigeria. See complete list of all Nigeria Banks USSD Code for banking in This Article.

Available Debit Cards For Customer

With Fidelity Bank your Debit Card can be given to you with ease. Customers can have Debit Cards within a day to 7 days after applying for the Debit Cards. FCMB also have a very good system to issue Debit Cards.

One interesting thing about FCMB is that they can give you a customized Debit Card. You can choose how you want your Card to look like and it will made available for you. This is an edge for customers who likes fancy Debit Cards.

Internet And Transaction Process

FCMB is second to Access Bank when it comes to fast internet processing and transaction processing in Nigeria. They have good internet and online presence. Almost all processes and even loan application are fully automated. The complete process to open an account is fully automated in their website.

Fidelity Bank is yet to automate some of its process online. And they have relatively slow transaction process when compare with FCMB as it takes time to send Debit or Credit notifications most times.

We give this to FCMB as their customers are most likely to enjoy good internet and transaction processing. This does not mean that Fidelity Bank does not have good transaction processing. It just means that FCMB have a better transaction processing speed.

Making Cashless Withdrawals In Designated ATM’s In Nigeria

As at the time of writing this article, none of the Banks have this feature. This means that the Cardless Withdrawal feature is not available for both FCMB and Fidelity Bank customers.

With Cardless Withdrawals, you can make withdrawals from any ATM without your Debit Cards. This is the next generation of Withdrawals as only few banks supports this feature currently in Nigeria. You can read more about the Cardless Withdrawal from our Previous Post.

Customer Care And Support System

FCMB have a better customer care response rate compare to Fidelity Bank. They also have a better response rate too. This is expected as they have a relatively costly banking policy when compare to Fidelity Bank. Although both Banks are not really present in social media platforms.

Cost Of Maintaining A Bank Account

Surprisingly the cost of banking with these two banks are relatively reasonable. For example, they both require a minimum of N5,000 to open a standard Current Account. Both Banks also allow for zero banking and maintenance fee for Debit Card is still N52.

However, when it comes to account opening and account operation, FCMB is more expensive when compared with Fidelity Bank. FCMB as seen as the bank for the rich and business owners. While Fidelity is categorized as the bank for the middle class.

So when it comes to cost of maintaining account, both banks are on same level. They offer easy ways to maintain the bank account. But when it comes account opening and operation, FCMB is more expensive.

Number Of Savings And Current Account

Both Banks have numbers of Savings and Current Accounts that you can select from. Below are list of account from both Banks that fits the needs of every one

  1. Evergreen Savings Account for the elderly.
  2. Kid Savings Account for children below 16 years(and even unborn children).
  3. Premium Savings Account..
  4. Instant Savings Account.
  5. Student Savings Account.
  6. Target Savings Account.
  7. Premiere Current Account.
  8. Business Current Account.
  9. Personal Current Account
Conclusion

If you would like to go for executive Banking and fast processing then FCMB is your best choice. But if you are an average Nigerian or a student then Fidelity bank is better choice for you.

This will be the end of the comparison between FCMB and Fidelity Bank here today. This post will be updated from time to time as these banks make changes to their structures.

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