Pricing on Prospa

Understanding Pricing on Prospa: Fees, Rates and Charges

Written by Chioma Ugo

We pride ourselves on fair and transparent pricing. You will never be charged for something you are not aware of, our billing dates and times are clear. You also receive an email and SMS receipt every time you are billed. 

How does Prospa differ from other services?

You may be wondering how Prospa is different and why you should pay for it? We’ve broken down what you get with a Prospa account and our pricing in detail below.

If you have any questions about our pricing, please contact our dedicated team at

Set Up Costs

Prospa is the fastest and most cost-effective business account you’ll ever open. Guaranteed! No paper forms, no bank queues and opening an account is 100% Free. 

ProspaTraditional Banks
Minimum opening balance₦0₦5,000 – ₦20,000
Search Fee₦0₦5,000
TIN retrieval or processing₦0₦7,000
Transportation fee to visit a branch₦0₦2,000
Time to set up a business account5 minutes2 wks – 1 month + 
Total₦0Up to ₦34,0000

The Basics  

If you already have a business account, How much do you currently pay in monthly fees & charges? 

95% of business owners we surveyed said “I don’t know” 

On average, small business owners are being charged over ₦100,000 in unexplained and unnecessary fees. 

With Prospa, you’ll know exactly what you’re paying for and how much you are paying, ahead of time. Prospa is more cost-effective and delivers the best value for your money. 

Every month Prospa members are entitled to ₦100,000 free inflow and ₦100,000 free outbound transfers.

Prospa Banks
Monthly free maintenance allowance₦100,000Not available
Monthly free transfers₦100,000Not available
Charges for falling below the minimum balance₦0 (No minimum balance)₦5,000 – ₦20,000
Account Maintenance charges₦3k for inflow up to ₦500k₦5k for inflow up to ₦5m+₦0.85kb per ₦1k over ₦5m ₦5,000 – unlimited
Per mile charges₦0.85 kobo₦1 per ₦1000

*Once you have exceeded your monthly free transfer allowance of ₦100,000 

Beyond the basics

When thinking about a business account, it’s much more than cost. You have to ask, does this bank account help me manage my business finances and do more to grow my business? Am I paying for other services like an invoice or a tool to manage my customers?

The average Prospa member saves N7,380 per month by not having to pay for additional business tools. Here’s what you’ll get with Prospa that your traditional account doesn’t offer:

Unlimited sub-accountsOrganise your money with dedicated accounts. Learn more
Unlimited businessesHave more than one business account, manage them easily from one dashboard. Easily switch between accounts. Learn more
Transaction categorisation Automatically group your transactions and track expenses in minutes
Marketplace appsConnect with favourites, Waveapps, Quickbooks, Sage & Zapier 
Automated paymentsControl and automate the flow of your money, great for payroll
Inventory managementAdd and manage your stock directly from your Prospa account
Customer managementImprove customer satisfaction with your detailed customer list and increase repeat sales
Business hubTrack sales, revenue, expenses and business growth at a glance. Learn more
Team collaborationCollaborate with teams and departments to manage payments and features. Learn more
Bookkeeping to-do listKeep your accounts organised with prompts 
WebstoreLaunch an eCommerce store from mobile or web for free. Learn more
Budgeting toolStay on track with easy to use budget and revenue tracking tools 
Custom Invoices  Customise and send your invoices. Learn more
Sage integration Direct integration with Sage accounting software
RewardsSave money with exclusive discounts and offers. Learn more
Business APIConnect your company’s applications to your Prospa Business API
External accountsConnect, view and manage your other bank accounts from Prospa

For Upgrade (Premium Accounts)

If you want the full Prospa experience, upgrade your account to get higher limits, more features and even more services like a dedicated account manager, access to the Prospa API and more.

*View our upgrade plans in-app


Request for a POS device in-app and receive it within days. 

Prospa POS pricing
Android Next-Gen POS 0.5% per transaction

*rates may vary based on industry


Request for physical and virtual cards and get them delivered to you in days. 

Prospa physical and virtual cards
Naira Visa / Mastercard₦0
Dollar Visa / Mastercard₦0
Virtual Card₦1,000

* Your first card is free however you pay for the delivery charges. All additional cards are charged at ₦1,000

Other charges

ProspaOther Banks
SMS charges₦0 – free notifications₦1 per notification
Statement Request₦0 – Download for free in-app₦1 per page

Sign up for a Prospa account to manage your business and banking in one place.

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