The ease of creating a sub-account on Lenco

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Ever tried to create a sub-account for your business account, it felt like you were trying to open an entirely new account. You had to go to the bank and fill the form(s), you probably have to go back and forth to the bank. If you had such a tedious experience during the creation of a sub-account for your business; if creating a sub-account is an experience you do not look forward to, Lenco is here to make it better.

Lenco is constantly thinking of ways to make your business banking experience pleasurable, therefore, we have introduced a seamless way to create a sub-account without any hassle. You do not have to physically appear at any bank neither do you have forms or paperwork to complete.

Also read: Evolution of Digital banks in Nigeria

On Lenco, you can create as many sub-accounts as you want by clicking just a few buttons! It is that easy!

Why should you create a sub-account?

  • A sub-account helps you to better manage your business funds and accounting.
  • A sub-account breaks down an account into multiple smaller accounts. This is to better track detailed budgets and expenses.
  • To provide multiple smaller accounts with desired restrictions for different transactions carried out by the business.
  • With a sub-account, you can limit the access that some of your subordinates have to the main account.

With Lenco, you can create an unlimited number of sub-accounts. In the same vein, the account numbers are generated instantly and are free to use.

Follow the steps below to create a sub-account:

– Click Accounts on the left side menu of your page

– Click on create sub-account

– Give your sub-account a name e.g Expense, Operations, Commissions etc.

– Make a description of what the sub-account will be used for. salary payment, expenses and commission collections are examples of what a sub-account can be used for.

– Click Create

It is easy to create a sub-account on Lenco