How To Open ALAT For Business Account By Wema Bank
Are you a Nigerian business owner struggling with financial management? Frustrated with long bank queues and exorbitant transaction fees? Alat for Business could be the ideal solution you’ve been searching for.
In this comprehensive article, we’ll delve into:
- What is Alat for Business?
- Explore the advantages of Wema Bank’s Alat for Business and understand why it’s rapidly gaining popularity among Nigerian enterprises.
- How to open an Alat for Business account and the login process.
- Learn how to effectively conduct transactions and leverage the various tools and services offered by Alat for Business.
After reading this article, you will have all the necessary information you need to begin utilizing Alat for your business operations.
What is ALAT for Business?
Alat is a digital banking platform created by Wema Bank, designed to offer a range of features and benefits for businesses.
With Alat, you can manage your finances from the comfort of your home or office using just your smartphone or computer.
The Benefits of Alat for Business
1. Multiple Account Beneficiaries:
- Alat allows businesses to add multiple beneficiaries, simplifying bulk payments and transfers.
2. High Transaction Limits:
- You can make money transfers exceeding ₦100 million, which is ideal for large transactions.
3. Bills Payment and Collection:
- Easily pay and collect bills, streamlining your financial processes.
4. No Hidden Charges:
- Transparent fee structure ensures you know exactly what you’re paying for.
5. Bulk Transfers:
- Efficiently manage bulk transfers to multiple accounts, saving time and reducing errors.
6. User-Friendly Interface:
- The platform is designed for easy navigation, with a refreshed, modern look.
Requirements To Open an Account
To operate an Alat business account, ensure you have the following documents and information ready::
- Tax Identification Number (TIN)
- Proof of Address (either bank statement or any utility bill)
- Business details (name, type, category, description)
- CAC documents (registration number and certificate)
- BVN and identification of signatories
- Letter of Request on business letterhead
- Two referees (either Business Name or Registered Company)
- Board Resolution authorizing the account opening and approving signatories
- Company certificate and other incorporation documents
- Completed corporate account opening form signed by company’s designated signatories and directors
- Residential addresses of directors
- Passport photographs of signatories
- Valid ID of directors (acceptable forms include an international passport or driver’s license)
- Utility bill of business address (examples include water bill, PHCN, or LAWMA)
- SCUML registration evidence for DNFI categorized companies
- Work permit for foreigners
- Two reference forms by corporate account holders
With these documents, you’ll be well-prepared to open an Alat business account swiftly and efficiently, ensuring a seamless and hassle-free process.
How to Open ALAT for Business Account
- Download the Alat App: Get it on your smartphone or tablet, or visit the Alat website on your computer.
- Open an Account: Click on “Open an Account” and select “Business Account.”
- Fill in Business Details: Provide your business name, registration number, and address.
- Personal Details: Enter your name, email address, and phone number.
- Choose Account Type: Select your preferred account type and any additional services (e.g., debit card, virtual dollar card).
- Upload Documents: Submit your Certificate of Incorporation, TIN, and valid ID card.
- Review and Submit: Review your application and submit it for processing.
Once you submit your application, the Alat team will review it and respond within 24 to 48 hours, providing you with timely feedback on your account status.
If approved, you’ll get an email with instructions to activate your account and start using Alat for your business transactions.
How to Use Alat For Business Transactions
Using Alat for business transactions is straightforward. Here’s how:
- Log In: Access your Alat business account effortlessly through the app or website.
- Navigate Transactions: Go to the “Transactions” tab and select the type of transaction (e.g., “Send Money”).
- Enter Recipient Details: Provide the recipient’s name, account number, or phone number.
- Specify Amount: Enter the amount and any message or note.
- Review and Authorize: Carefully verify the transaction details and then confirm them.
Payment Options
Alat Debit Card:
- Request and use it for payments or withdrawals from ATMs or POS terminals.
Virtual Dollar Card:
- Make online payments in foreign currencies.
Requesting a Card
- Sign In: Access your Alat for Business app.
- Card Menu: Select the card option and choose a design.
- Confirm and Submit: Confirm your selection with your Alat PIN and provide your delivery address.
Your debit card will be delivered within two business days.
Security and Customer Support
Rest assured, your transactions are protected with Alat’s advanced security features and fraud detection systems. Alat utilizes advanced security features and sophisticated fraud detection mechanisms to safeguard your account. Additionally, Alat offers customer support to assist with any questions or concerns.
Different Services Offered by Alat
Alat provides an extensive array of services to assist businesses in managing their finances more effectively:
- Single Beneficiary Transfers: (Intrabank and Interbank)
- Bulk Transfers: (Intrabank and Interbank)
- Foreign Exchange (FX) Transfer
- Bills Payment
- Airtime Purchase
- Corporate Debit Card Requests
- Account Statement Downloads
- Transaction Receipt Views
These tools help businesses manage finances, reduce costs, and increase profitability, allowing them to focus on core activities and growth.
Frequently Asked Questions (FAQs)
What is the meaning of Alat for Business?
Alat for Business is a digital banking solution designed for Nigerian businesses, offering tools like payroll management, expense tracking, invoicing, savings goals, and virtual teams to streamline financial processes.
Can I open a business account on Alat?
Yes, you can create a corporate account in minutes via the Alat for Business App or the desktop website.
What are the benefits of using Alat for Business?
Benefits include easy account opening, low transaction fees, a range of financial tools, real-time transaction monitoring, and 24/7 customer support.
Necessary documents for opening an Alat Business account?
You’ll need a valid ID card, utility bill, and business registration documents.
Is Alat for Business safe and secure?
Yes, Alat employs advanced security features and fraud detection to ensure account and transaction safety.
What are the methods to get in touch with Alat for Business customer support?
Contact customer support via toll-free number, email, social media, or the website.
What is the estimated time required to open an Alat business account?
The process is quick, often completed online within minutes, with account activation within 24 hours after submission.
Which types of businesses are eligible to open an Alat business account?
The account is available to all business types, including sole proprietors, partnerships, LLCs, and corporations.
Does Alat for Business support international transactions?
Yes, through its virtual dollar card, Alat supports online payments in foreign currencies.
Is it possible to use Alat for Business on multiple devices?
Yes, you can access your account on multiple devices, including smartphones, tablets, and computers.
Conclusion
Alat for Business is a powerful digital banking solution that offers numerous benefits for Nigerian businesses. Its convenience, affordability, and robust security features make Alat an outstanding choice for managing financial transactions. With Alat, you can streamline your business finances, save time, and reduce costs, all while enjoying the flexibility of digital banking.
We strongly encourage all Nigerian businesses to consider utilizing Alat for their banking requirements. Whether you’re a small business owner or a large corporation, Alat can help you achieve your financial goals and grow your operations more effectively.
If you have any questions, please don’t hesitate to reach out through the comment section. Don’t forget to share these valuable resources with other business owners who may benefit from using Alat for Business.