Transfer limit – With the arrival of digital banking, there is no doubt that it will end the stress of banking. You don’t need to go to the bank for simple transactions such as cash deposits, cash transfers, and cash withdrawals.
The digital trend is not without its stress and problems. Our loyal readers continue to send us requests regarding transfer limits for different banks, both via USSD code or Mobile Banking.
You’ve probably tried to register on your bank’s USSD or Mobile Banking platform. Most often, you will be asked to increase your transfer limit. This is not an attempt to prevent you from accessing your hard-earned money. It’s simply a way to increase the safety of your funds.
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Why the banks limit your transfer limit
If your bank details or phone are compromised by theft or any other reason, they may not be able to access your entire bank account. This is because your bank has set a daily limit that you can’t exceed. You can contact your bank within the time period for unauthorized withdrawals or debit alerts to prevent further damage.
The transfer limit check in your bank account acts more as a security strategy to limit an unauthorized user’s access to your funds. While some banks allow you to send N1k upon onboarding, others may allow you to increase your limit as we will explain in this guide.
To learn more, you can follow the details below.
- What is the maximum amount you can transfer in one day in Nigeria?
- Limit on daily transfers for FirstBank in Nigeria
- How can you increase your daily access bank transfer limit?
- UBA Transfer limit
- GTBank ATM Transfer Limit
- Inter-bank transfer limit in Nigeria
- ATM transfer limit in Nigeria
- Limit on wire transfer First bank mobile
- Limit on first bank transfer per day.
- The daily limit for domestic transfer.
- Transfer limit to ATM in Nigeria
- How to increase your first bank transfer limit?
Check out the following lists of Nigerian banks and their transfer limits
| Bank | USSD Codes |
| Access | *901# |
| Ecobank | *326# |
| First bank | *894# |
| FCMB | 389214# |
| Fidelity bank | *770# |
| GTBank | *737# |
| Heritage bank | 32200# |
| Jaiz bank | 389301# |
| Keystone bank | *7111# |
| Polaris bank | *833# |
| Sterling bank | *822# |
| Stanbic IBTC | *909# |
| Unity bank | *7799# |
| UBA | *919# |
| Union bank | *826# |
| Wema bank | *945# |
| Zenith bank | *966# |
Now that you have the USSD codes for some of the banks in the country in your pocket, it is time to keep up with the daily transfer limit for the banks in Nigeria.
| Bank | USSD Limit | Mobile Banking Limit |
| Access Bank | The daily limit for fund transfer is N20,000 | For mobile banking transfers, a limit of N2,000,000 is applicable in four tranches of N500,000 |
| Eco Bank | N50,000 daily limit | N500,000 for instant banking |
| First Bank | N100,000 daily limit | The daily transfer limit is N500,000 without a token and N1,000,000 using a token on FirstMobile. This can however be increased to N5,000,000 at the branch |
| FCMB | N20,000 daily limit, however, can be increased | The app depends on individual choice, however can be increased. |
| Fidelity Bank | N20,000 per transaction and N100,000 per day. This implies that you can transfer N20,000 up to 5 times daily. You can still initiate your transfer of up to N1,000,000 or N5,000,000 upon a limit increase at the branch | The daily limit for online banking is N1,000,000 which can as well be increased to N5,000,000 |
| GT Bank | You can transfer above N100,000 daily with the use of token | Daily transfer limits are restricted to five million Naira (5,000,000). Cash withdrawals are restricted to one hundred fifty thousand Naira (150,000). ATM transfers to banks in other countries are limited to $300 (three hundred dollars). This is approximately one hundred and fifteen thousand Naira |
| Heritage Bank | N20,000 daily limit | N200,000 cumulative for all transactions. You can however increase this limit to N1,00,000 by completing the indemnity form at any of the Experience Centres |
| Jaiz Bank | N20,000 daily limit | N150,000 daily limit |
| Keystone Bank | N100,000 daily limit | N5,000,000 daily for individual accounts and N10,000,000 daily for corporate accounts |
| Polaris Bank | N20,000 daily limit | The transfer limit on Polaris mobile application is N500,000 using your debit card to register |
| Sterling Bank | Default daily transfer limit is N20,000 and the daily transfer limit is N100,000 by creating a new PIN | To be updated soon |
| Stanbic IBTC Bank | The daily transfer limit is N100,000 with a single maximum transfer limit of N20,000 | On the internet and mobile banking, it’s N1,000,000 daily |
| Unity Bank | You can transfer N1,000 but can transfer N500,000 on increasing your transfer limit that’s for 329215# and for *7799#, the limit is N2,000, but when you onboard with your ATM card, it’s increased to N100,000. When you as well fill the increase limit form, it becomes N500,000 | For Unity Mobile, the limit is N1,000. If you fill the limit increase form, it will be increased to N500,000. |
| UBA | For magic banking: PIN- N20,000 per day Secure pass/hard or soft token – N100,000 Secure pass + Indemnity form – N1,000,000. | The First 3 days after activation, the transfer limit is N20,000. The 4th to 6th-day transfer limit is N200,000 7th transfer limit increases to N1,000,000 |
| Union Bank | You can transfer up to N100,000 in tranches of N20,000 daily. To transfer more than this, you will need to accept the indemnity prompt. | N200,000 daily and N1,000,000 with an SMS token. |
| Wema Bank | N20,000 daily transfer limit, you can as well increase your transfer limit by visiting any Wema bank brach | The transfer limit on the app is mostly dependent on the account type. Maximum is N5,000,000 for interbank transactions |
| Zenith Bank | The daily transfer limit with ATM card details is N100,000 and N1,000,000 with a hardware token device. | The daily transfer limit via the mobile banking app registered as an OTP user is N20,000 as an ATM card user N1,000,000 and as a hardware token device user is N5,000,000 |
GTBank ATM daily transaction limits
Transfers are restricted to five million Naira (5,000,000).
Cash withdrawals are restricted to one hundred fifty thousand Naira (150,000).
ATM transfers to banks in other countries are limited to $300 (three hundred dollars). This is approximately one hundred and fifteen thousand Naira.
Transfers were initially limited to one million Naira. GTBank decided to raise the transfer limit to three million Naira as more people needed it. The Guarantee Trust bank recently raised the limit to five million Naira (5,000,000) due to the increased demand for transactions.
You can only transfer five million Naira per day to another person. Anything more must be done the next day. The daily withdrawal limit has been kept at one hundred and fifty thousand Naira. It can help you save money. Read: Lastest Kuda Bank Review
International ATM withdrawals are limited to three hundred dollars per day. Every ATM withdrawal made outside Nigeria is subject to a service fee of 1 000 200 Naira (1,200).
The Mobile Banking app allows for daily transfers of up to 5 million Naira.
Noting that POS transactions, as well as transactions involving the mobile banking app, are free, it is important to remember. However, the bank charges a monthly fee to SMS charges.
Guarantee Trusted Banking
USSD
All GTB customers who are registered with the USSD, or 737 banking, have access to the most simple and stress-free banking option. It’s available 24 hours a day, 7 days a week. There are no additional fees for every transaction made on the 737 Banking platform. You can access it with your smartphone, or any regular phone.
You can dial *737# to see a range of services that are available. You can use it to buy airtime or settle your bills.
Online Banking System
This type of banking needs internet services. All you have to do is visit GTBank Online Banking to register for online banking, you will need to provide some information that you will use to log in to your account.
Mobile Banking Application
GTBank’s mobile banking app is only for smartphone users. This service requires an internet connection. First, you will need to download the app from your AppStore. This is available for all devices.
Next, you’ll need to follow the steps for creating a profile. You can use the banking application to make all kinds of transactions, including buying airtime for you and another person.
ATM Banking System
ATM Banking allows you to make all types of transactions, including withdrawals. For this, you will need your ATM debit card or credit card along with your four-digit transaction Pin.
POS Banking
Point of Sale Terminal (POS Terminal) is a portable device that allows card-carrying customers to make transactions anywhere with the help of the machine.
Summary
The bank and eChannel platform you are using will determine your bank transfer limit. To meet the risk appetite of both the bank and the customer, banks have established specific thresholds. However, you have the ability to leverage these thresholds to meet financial and business modifications as well as your risk appetite.
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