How to open Prospa Business Account in 5 minutes ( app review)

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Here is a tutorial on how to open Prospa Business Account in 5 minutes. It is a complete review of everything you can get from prospa app.

We all know that the process to open a business or corporate bank account in Nigeria is a tiring one, and the documents required are usually countless.

These requirements include but not limited to documents from Corporate Affairs Commission and PHCN.

As a result, small business owners in Nigeria, especially freelancers, who don’t have enough money to get CAC documents are stuck and locked out of having their dream business account. Hence a need to find a good alternative to the conventional bank business account.

This is where prospa business account comes in. With prospa app, you can manage your customers, employees, products and suppliers; get insights on your best selling products and highest spending customers.

What is Prospa?

Prospa is the fastest way to open a reliable business bank account in Nigeria. It is a fintech app that makes it easy for small and medium businesses alike to create business accounts from the comfort of their homes without paying any fee and without any hassle.

Prospa Business Account comes with account number in your business name. It allows your business to make and receive transfer to and from any bank in Nigeria.

With Prosper Business Account, there’s:

  • No stress of having to first register your business name at CAC before you can open a bank account in your business name
  • No need to look for a corporate account holder to referee you before you can open an account in your business name.
  • No trouble of employing a lawyer to attest to your business name to the bank before the bank can allow you to open an account.
  • No need to spend a dime to open a bank account in your business name.

How to open Prospa Business account

  1. To open Prospa Business Account, go to
  2. Click on the menu at the top right corner
  3. Select Register your Business
  4. Fill out the form and submit

Alternatively, you can open an account via prospa app. To do this,

  1. Heed over to Google play store
  2. Search for prospa app
  3. Download and install it
  4. Lunch the app and sign up

After signing up, you will need to wait for manual approval. Your account should be up and running in less than 15 minutes. In some rare cases, the approval may take up to 24 hours and in such case, it would be that Prospa needs additional information from you.

How does prospa bank account work?

Here’s how prospa account works. When your customer want to send payment to you, they input details such as your account number and Providus bank (one of their partner banks) as the bank name. However, you will receive the payment through prospa app.


  • Your business name as your bank account name
  • Receive and send payment to and from all Nigerian banks
  • Manage all your customers in realtime, all in one place
  • Create sub-accounts
  • Purchase airtime and mobile data
  • Send invoices to your customers to request for payment
  • Payment of bills (electricity bills, TV bills)
  • Transfer to international communities like Ghana and Kenya
  • Work with a number of team members
  • Downloadable statements of account
  • Manage more than one business in one dashboard
  • Prospa app and website are designed with transparency in pricing and easy to understand user interface

Upgrading Your Account

In order to fully operate a full service business account with prospa, you need to upgrade your account. To do so, you will need the following documents:

  • Bank Verification Number, BVN
  • Corporate Affairs Commission registration forms
  • 2 references
  • Government issued ID card
  • PHCN bill
  • Board resolution (can be generated inside your Prospa dashboard)
  • TIN number
  • Certificate of incorporation
All rights reserved. Do not copy, rewrite or republish this content, in part or in whole, without proper credit to the source.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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