This article provides information about the ATM transfer limit in Nigeria. Therefore, it is in your best interest to read this entire guide in order to comprehend every piece of information presented.
The Automated Teller Machine (ATM) serves as a teller and is typically located at the entrance of a bank and operates around the clock.
Customers’ withdrawal and transfer requests are processed by the machine, which provides them with physical cash at the time of withdrawal.
Many customers want to know the transfer limit for ATMs, but the truth is that ATM transfer limits vary by bank.
Therefore, familiarising yourself with the daily transfer limit of the bank-issued debit card will help you determine how much money you can transfer with your ATM card.
If you’re prepared to learn more about ATM transfers, then let’s move on to more specific information.
WHAT IS BANK ACCOUNT TRANSFER LIMIT?
The ATM transfer limit is the maximum amount of money you can transfer to business partners, friends, and family using the bank-issued debit card.
Many banks have varying ATM transfer limits, and some financial institutions permit their customers to increase their transfer limit for larger fund transfers.
WHAT IS THE DEBIT CARD LIMIT?
ATM Withdrawal limit refers to the maximum amount of cash you can withdraw from an ATM using your bank-issued debit card.
Due to the introduction of cardless ATM transfer and withdrawal, some banks no longer require customers to carry their ATM cards when withdrawing cash.
HOW MUCH IS THE FIRSTBANK TRANSFER LIMIT?
FirstBank Nigeria does not impose any restrictions on transfers made in-person, but funds transferred via online banking are limited to N5 million per individual account and N10 million per corporate account.
Additionally, the maximum daily transfer amount from the FirstBank mobile app “FrstMonie” has increased from N500,000 to N1,000,000.
The First Bank Nigeria’s USSD code banking allows customers to transfer up to N100,000.00 per day.
HOW DO I MODIFY THE TRANSFER/WITHDRAWAL LIMIT OF MY ATM?
Contact your bank in person with your identification card to verify your identity and to request an increase in your ATM transaction or withdrawal limits.
WHAT IS THE LIMIT FOR AN ATM TRANSFER?
The threshold for ATM transfers varies by bank; listed below are the ATM transfer limits of Nigerian banks:
FirstBank Nigeria: daily limit of N400,000
Access Bank Nigeria: N1 million, depending on the debit card limit you set.
⦁ Ecobank Nigeria: N500,000 maximum daily limit
FCMB: limit of N1,000,000 per day
⦁ GTBank: N1,000,000 daily limit
⦁ Jais Bank: N500,000 daily limit
Heritage Bank: daily limit of N100,000
Keystone Bank: N150,000 limit per day
⦁ Polaris Bank: N50,000 daily limit
⦁ Providus Bank: N200,000 daily limit
⦁ Sterling Bank: N1,000,000 maximum limit
⦁ Stanbic IBTC: N500,000 maximum limit
Unity Bank: N500,000 per day maximum
⦁ UBA: N500,000 maximum limit
Union Bank: N210,000 per day for verve and N250,000 per day for Master Card
⦁ Zenith Bank: N200,000
This is the information we can share regarding the ATM transaction limit.