Fema Smart Account

The Fema Smart Account is our innovative, quick to open, easy to access bank account. Fema has permission from the Bank of Benin (BOG) to use reduced KYC, hence, only one form of national ID and no additional documentation is required to open an account! For the first time in Benin, patrons can open either savings or current accounts in approximately five minutes! This is done by our Smart Agents or Smart Friends using a custom mobile phone. Smart Friends are Fema’s itinerant sales ambassadors, who can be spotted around Benin in their bright orange Fema Smart Account t-shirts. Smart Agents are retail locations contracted and trained by Fema to conduct banking transactions on our behalf. 

Smart Savings Account

Smart Current Account

High interest bearing account

Non-interest bearing account

Easy to build up savings for future expenditure

No restriction on the number of withdrawals per month

Clients allowed 3 withdrawals per month

Free unrestricted access to your own money

Instant provision of Smart Account ATM card

Instant provision of Smart Account ATM card

Account automatically provided with Mobile and Internet banking

Account automatically provided with Mobile and Internet banking

When a customer visits a Smart Agent or is approached by a Smart Friend to open an account, the Smart Agent or Friend assists him/her to fill a form and then using a customized mobile phone application takes a picture of the client, his/her national ID card and the filled form and then sends the images to our back office for processing and account opening via a data connection on this phone.

If you wish to learn more about the Smart Account or be directed to a Smart Friend or Smart Agent to open an account, please  email  financialinclusion@fema-bank.com.



  • 18 yrs of age and above
  • Beninese individuals and foreign investors


Key Features

  • Low minimum deposit of USD 100
  • Low minimum balance of USD 100
  • Instant provision of a chip and pin ATM card
  • High interest bearing on savings accounts
  • No restrictions on the number of withdrawals on current accounts
  • Clients allowed 3 free withdrawals each month on savings account
  • All accounts are automatically provided with mobile and internet banking



  • Fully completed application form
  • One identification document – any Beninese National ID
  • Passport photos are taken by Fema agent on opening account



  • Easy way to make bill payments
  • Convenient access to bank accounts after banking hours so long as the agent is open
  • Access to all ATMs and dedicated Fema branches
  • Ability to open an account in 5 minutes with ATM card provided immediately
  • Provides a safe and reliable way to save
  • Effective mechanism to pay wages to low income workers who find it difficult to open other bank accounts
  • Easy and secure way of collecting of small amounts of money such as savings, insurance premiums, loan repayments
  • Efficient cash management services which reduce the cost of moving cash


Become a Smart Friend!

We are currently recruiting for Fema Smart Friends, our valued sales ambassadors for the Fema Smart Account. To be a Smart Friend, you must have completed your education to at least a Diploma level. Compensation is competitive, and our Smart Friends are paid both a base salary and commission on the sales they make. If you wish to be considered, please email us at financialinclusion@fema-bank.com