Fidelity Bank, Nigeria: A Personal and Honest Review
By Jude Adebayo
When it comes to banking in Nigeria, finding a financial institution that truly understands the hustle and delivers on its promises is no small feat. I’ve been banking with Fidelity Bank for about three years now, and I think it’s only fair to share my thoughts—both the good and the not-so-good. After all, if you’re trusting a bank with your hard-earned money, you deserve to know exactly what you’re signing up for.
My First Impressions
When I first walked into a Fidelity Bank branch in Lagos, I was immediately struck by how organized the environment felt. You know how chaotic some places can get, especially during peak hours, but here, it felt like there was an effort to keep things running smoothly. The staff greeted me politely (shoutout to the customer service lady who called me “Oga” like she really meant it). That small human touch matters, you know?
Opening an account was surprisingly straightforward. They didn’t ask for outrageous requirements like some other banks I’ve encountered. With just my ID, a passport photo, and a utility bill, I was good to go. They explained their savings account options, even mentioning their "Fidelity Personal Savings Scheme" (FPSS), which offers a decent interest rate if you’re disciplined enough to save consistently.
But let’s be honest—first impressions are one thing. The real test is how a bank performs when it comes to everyday transactions, customer service, and those unexpected issues that just seem to pop up when you least expect them.
Day-to-Day Banking: The Good and the Frustrating
Let me give credit where it’s due. Fidelity Bank’s mobile banking app is decent. It’s called Fidelity Online Banking, and while it’s not perfect, it gets the job done most of the time. The interface is pretty basic, but that’s not necessarily a bad thing. I’d rather have something simple that works than a flashy app that keeps crashing. Transferring money, checking balances, and paying bills are all relatively seamless.
That said, their app has given me headaches on a few occasions. There was a time I tried transferring money to a friend late at night, and the app just refused to cooperate. It kept saying “transaction failed,” yet the money had been debited from my account. I won’t lie—at that moment, I was ready to scatter their customer care line. Thankfully, the issue was resolved within 48 hours, but I shouldn’t have had to go through that stress in the first place.
Their USSD banking (*770#) is another lifesaver, especially in areas with poor internet connectivity. It’s quick to use, and there’s no need for a smartphone. My cousin in the village even swears by it—“Adebayo, this *770# dey save my life,” she said recently after paying for fertilizer in the middle of nowhere.
Customer Service: A Mixed Experience
Ah, customer service. This is where Fidelity Bank sometimes stumbles. Don’t get me wrong—they’re not the worst out there, but they could definitely do better.
When you walk into a branch, you’ll usually find the staff friendly and willing to help. But if you’re dealing with a more complex issue, like a failed international transaction or a dispute over charges, you might need to exercise patience. A lot of patience.
There was a time I needed to retrieve an old bank statement for visa processing. I went to the branch thinking it would be a quick process, but I ended up waiting for almost an hour. The staff apologized and explained that their system was slow, but honestly, I expected more efficiency.
On the flip side, their online customer service via Twitter is surprisingly responsive. If you tweet at them (@fidelitybankplc), they’ll usually reply within an hour or two. That’s faster than what I’ve experienced with some other Nigerian banks.
What Stands Out
Now, let me tell you what I genuinely admire about Fidelity Bank—they seem to genuinely care about small businesses. As someone who runs a side hustle, I appreciate their SME-friendly initiatives. For instance, their Fidelity SME Forum on radio is a great platform where entrepreneurs can learn about managing and growing their businesses.
They also offer loans tailored specifically for SMEs, like the Fidelity Easy Asset Leasing Scheme (FEALS). I haven’t used it myself, but a friend of mine did, and it helped him purchase some equipment for his printing business. He says the interest rate was manageable, which is rare in Nigeria these days.
Areas for Improvement
Of course, no bank is perfect, and Fidelity Bank is no exception. One area where they really need to step up is their ATM network. Too often, I’ve gone to withdraw cash only to find their machines “out of service.” It’s frustrating, especially when you’re in a hurry or in an area where other banks’ ATMs charge ridiculous fees for withdrawals.
Another thing I’ve noticed is their charges for certain transactions. While they’re not the most expensive bank, they’re not the cheapest either. Sometimes, I look at my monthly account statement and wonder why there are so many little deductions. It’s nothing outrageous, but those small charges add up over time.
Security and Trust
In Nigeria, where online fraud is a major concern, Fidelity Bank seems to take security seriously. They send SMS alerts for every transaction, and their two-factor authentication for online banking is solid. I’ve never had any issues with unauthorized transactions, which is a big deal for me because I’ve heard horror stories from friends using other banks.
So, is Fidelity Bank the best bank in Nigeria? Probably not. But are they a reliable option for the average Nigerian? I’d say yes. They have their flaws—like the occasional tech hiccup and slow branch service—but they also have significant strengths, like their SME support, decent mobile banking, and secure systems.
Would I recommend them? Sure, especially if you’re looking for a bank that balances traditional banking with modern digital services. Just don’t expect perfection.
At the end of the day, no bank is perfect, and finding the right one often depends on your specific needs. For me, Fidelity Bank works well enough to keep me as a customer—for now.
What about you? Have you had any experiences with Fidelity Bank? Good or bad, I’d genuinely love to hear your thoughts!