FairMoney USSD Code: How to Transfer Money from FairMoney Microfinance Bank (2024)

FairMoney Microfinance Bank Nigeria is a digital bank that offers a variety of financial services, including loans, savings, and transfers. FairMoney is known for its fast and easy loan approval process, and it also offers competitive interest rates on savings accounts.

One of the benefits of having a FairMoney Microfinance Bank Nigeria account is that you can easily transfer money to other bank accounts, mobile wallets, and merchants. This can be useful for making payments to friends and family, or for paying for goods and services online or in-store.

How to transfer money from FairMoney Microfinance Bank to another bank account

banking on phone
banking on phone

To transfer money from FairMoney Microfinance Bank Nigeria to another bank account, you can follow these steps:

  • Open the FairMoney app and log in to your account.
  • Tap on the “Send Money” button.
  • Select the “Bank Account” option.
  • Enter the bank account number and account name of the person you want to send money to.
  • Enter the amount of money you want to send.
  • Review the transfer details and tap on the “Send” button.
  • Enter your PIN to confirm the transfer.
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Fees associated with transferring money from FairMoney Microfinance Bank to another bank account

FairMoney charges a fee of ₦100 for each transfer to another bank account. However, FairMoney offers 30 free transfers per month to all its customers.

How to transfer money from FairMoney Microfinance Bank to a mobile wallet

banking online
banking online

To transfer money from FairMoney Microfinance Bank Nigeria to a mobile wallet, you can follow these steps:

  • Open the FairMoney app and log in to your account.
  • Tap on the “Send Money” button.
  • Select the “Mobile Wallet” option.
  • Select the mobile wallet provider you want to send money to.
  • Enter the mobile phone number of the person you want to send money to.
  • Enter the amount of money you want to send.
  • Review the transfer details and tap on the “Send” button.
  • Enter your PIN to confirm the transfer.

Fees associated with transferring money from FairMoney Microfinance Bank to a mobile wallet

FairMoney charges a fee of ₦50 for each transfer to a mobile wallet. However, FairMoney offers 15 free transfers per month to all its customers.

How to transfer money from FairMoney Microfinance Bank to a merchant

on phone banking
on phone banking

To transfer money from FairMoney Microfinance Bank Nigeria to a merchant, you can follow these steps:

  • Open the FairMoney app and log in to your account.
  • Tap on the “Send Money” button.
  • Select the “Merchant” option.
  • Enter the merchant’s name and account number.
  • Enter the amount of money you want to send.
  • Review the transfer details and tap on the “Send” button.
  • Enter your PIN to confirm the transfer.
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Tips for transferring money from FairMoney Microfinance Bank

Here are some tips for transferring money from FairMoney Microfinance Bank Nigeria:

  1. Make sure you have enough funds in your FairMoney account before you initiate a transfer.
  2. Double-check the bank account number, mobile phone number, or merchant account number of the person or business you are sending money to.
  3. Review the transfer details carefully before you confirm the transfer.
  4. Keep a record of all your money transfers.

Frequently asked questions (FAQs)

What are the limits on transferring money from FairMoney Microfinance Bank?

The daily transfer limit for FairMoney customers is ₦100,000. The monthly transfer limit is ₦1,000,000.

How long does it take to transfer money from FairMoney Microfinance Bank?

Transfers to other bank accounts typically take 1-2 business days. Transfers to mobile wallets and merchants are typically processed instantly.

Can I cancel a money transfer from FairMoney Microfinance Bank?

You can cancel a money transfer from FairMoney Microfinance Bank Nigeria as long as the transfer has not been processed yet. To cancel a transfer, open the FairMoney app and tap on the “Transfer History” tab. Select the transfer you want to cancel and tap on the “Cancel” button.

What should I do if my money transfer from FairMoney Microfinance Bank is unsuccessful?

If your money transfer from FairMoney Microfinance Bank Nigeria is unsuccessful, you can contact FairMoney customer support for assistance. You can contact FairMoney customer support by phone, email, or live chat.

How can I contact FairMoney Microfinance Bank Nigeria customer support?

You can contact FairMoney Microfinance Bank Nigeria customer support by phone, email, or live chat.

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Conclusion

Transferring money from FairMoney Microfinance Bank Nigeria is a quick and easy process. You can transfer money to other bank accounts, mobile wallets, and merchants. FairMoney offers competitive fees on transfers, and it also offers a variety of security features to protect your transactions.

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