How to Transfer Money From One Bank to Another in Nigeria

Sending money from one bank to another in Nigeria can be done through a mobile banking app, USSD, internet banking, an ATM, or a bank branch. You usually do not need to visit the recipient’s bank, provided you have the correct account details.

How to Transfer Money From One Bank to Another

To make an interbank transfer, you normally need the recipient’s account number and the name of the receiving bank. Before confirming the transaction, your bank should display the recipient’s account name. Check the details carefully before sending the money.

Transfer Money Through Your Bank App

Open your bank’s official mobile banking app and sign in. Select the option for transfers, choose the recipient’s bank, enter the account number and amount, and review the beneficiary details shown by the bank.

After confirming that the recipient’s name and amount are correct, authorize the transaction using the security method required by your bank. Keep the transaction reference or receipt until the transfer has been completed successfully.

Use USSD to Send Money

You can also transfer money without internet access if your bank supports USSD transfers. Dial your bank’s official USSD code from the phone number linked to your account and select the transfer option.

Enter the receiving bank, account number, and amount when prompted. Carefully verify the displayed beneficiary name before entering your PIN or completing the transaction.

Transfer Through Internet Banking

Internet banking provides another way to send money between Nigerian banks. Log in through your bank’s official website, open the transfer section, enter the recipient’s details, and authorize the transaction after reviewing the information.

What Information Do You Need?

• The recipient’s bank name.
• The recipient’s account number.
• The amount you want to send.
• Your bank’s required transfer authorization details.

How Long Does an Interbank Transfer Take?

Many transfers between Nigerian banks are completed quickly, but the actual time can vary. Network problems, bank processing issues, system maintenance, or other technical problems can cause delays.

What If the Transfer Fails?

Do not immediately send the money again if your account has already been debited. First check your transaction history and confirm whether the recipient received the funds. If the transaction remains unsuccessful, contact your bank with the transaction reference so it can be investigated.

How to Avoid Sending Money to the Wrong Account

Enter the account number carefully and confirm the beneficiary name displayed before authorizing the transfer. If the name does not match the intended recipient, cancel the transaction and verify the details instead of proceeding.

Are There Charges for Bank Transfers?

Interbank transfers may attract applicable bank and electronic-transfer charges. The amount can depend on the bank, transfer channel, and current pricing. Review the fee displayed before confirming the transaction.

Frequently Asked Questions

Can I transfer money from one Nigerian bank to another?

Yes. Nigerian banks support interbank transfers through channels such as mobile apps, USSD, internet banking, ATMs, and branches.

Do I need the recipient’s bank account name?

You normally need the bank name and account number. Your bank should retrieve the beneficiary name for confirmation before the transfer is completed.

Can I transfer money without internet?

Yes. If your bank supports USSD transfers, you can send money using the registered phone number without mobile internet.