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All Nigerian banks ATM transfer limits
Read all about daily ATM transfer limits and daily ATM withdrawal limits.
The introduction of digital banking in Nigeria undoubtedly alleviates a lot of the stress associated with banking.
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It is no longer news that you do not need to visit a bank to conduct simple transactions such as cash deposits, transfers, and withdrawals.
If you’ve tried to perform a bank-to-bank transaction or ATM transaction through your bank’s USSD or Mobile Banking platform, you would have noticed that after you’ve performed transactions to some stage, you will be usually required to either increase your limit or have your transfer declined.
This is not an endeavor to deny you access to make use of your hard-earned money; rather, it is an attempt to keep your funds safe and secure.
You should be aware that, due to the volatility of the internet and the Unstructured Supplementary Service, your bank account could be hacked, resulting in a loss of funds at any time.
Because of this reason, your bank deems it necessary to impose daily transfer limits in order to keep you on the safe side so you do not exceed certain thresholds, you will need to visit your bank branch in order to increase your transfer limit.
Daily withdrawal limits benefits
Even if your bank details and phone are compromised as a result of theft or other means, they may not have much access to your entire account funds because your bank has already set a daily limit that you cannot exceed. With a limit threshold in place, you can contact your bank during the period of unauthorized withdrawals and debit alerts to prevent further damage.
This is more of a security strategy placements to limit the amount of money that an unauthorized user can access.
In this article I titled “All Nigerian banks ATM transfer limits” , I am going to make a list of some of the commercial banks with international authorization in Nigeria, their USSD code for transactions, and their daily transaction limit.
All Nigerian banks daily ATM transfer limits and Withdrawal limits
| Bank | USSD Code | Transfer limit | Interbank Withdrawal Charge |
| United Bank For Africa PLC
Transfer & withdrawal limit |
*919# | ₦500,000 daily transfer limit and ₦200,000 daily ATM withdrawal limit | ₦35 after the 3rd withdrawal of the month |
| Zenith Bank PLC
Transfer & withdrawal limit |
*966# | ₦200,000 daily transfer limit and ₦150,000 daily ATM withdrawal limit | ₦35 after the 3rd withdrawal of the month |
| Access Bank PLC
Transfer & withdrawal limit |
*901# | Their daily transfer limit is dependent on the amount you set as a limit; you can go as high as ₦1,000,000 per day while the daily ATM withdrawal limit is ₦150,000 | ₦35 after the 3rd withdrawal of the month |
| Eco Bank PLC
Transfer & withdrawal limit |
*326# | ₦500,000 daily transfer limit and ₦160,000 daily ATM withdrawal limit | ₦100 is the interbank charge transfer |
| First Bank Of Nigeria Limited
Transfer & withdrawal limit |
*894*0# | ₦400,000 daily transfer limit and ₦150,000 daily ATM withdrawal limit | ₦35 after the 3rd withdrawal of the month |
| Heritage Bank
Transfer & withdrawal limit |
*745# | ₦100,000 daily transfer limit and ₦100,000 daily ATM withdrawal in a quota of ₦20,000 | ₦35 after the 3rd withdrawal of the month |
| Sterling Bank
Transfer & withdrawal limit |
*822# | ₦1,000,000 daily transfer limit and ₦150,000 daily ATM withdrawal limit | ₦100 is the interbank transfer |
| Polaris Bank
Transfer & withdrawal limit |
*833# | ₦20,000 daily transfer limit and ₦500,000 daily ATM withdrawal limit | From Polaris to Polaris bank, the interbank charge is ₦10, while from Polaris to other bank cost ₦52 |
| First City Monument Bank
Transfer & withdrawal limit |
*329# | ₦20,000 daily transfer limit and ₦200,000 daily ATM withdrawal limit | ₦70 is the interbank transfer |
| Stanbic IBTC
Transfer & withdrawal limit |
*909# | ₦100,000 daily transfer limit and ₦1,000,000 daily ATM withdrawal limit in the quota of ₦20,000 | ₦100 is the interbank transfer |
| Union Bank
Transfer & withdrawal limit |
*826# | ₦100,000 daily transfer limit in the quota of ₦20,000and ₦200,000 daily ATM withdrawal limit | ₦25 is the interbank transfer |
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Conclusion
The amount you can transfer is determined by the imposed rules of CBN (Central Bank Of Nigeria), the bank and the e-channel platform you’re using.
Banks have set specific risk appetite thresholds for both the institution and the customer. You, on the other hand, have the ability to raise these limits to meet your risk appetite, as well as business and financial changes.
Thank you for reading my post on “All Nigerian banks ATM transfer limits”.
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