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

VFD Microfinance Bank offers a variety of ways to transfer money, both domestically and internationally. You can transfer money to another VFD Microfinance Bank account, another bank account in Nigeria, or even an international bank account.

Transferring money to another VFD Microfinance Bank account

transfer cash
transfer cash

There are two ways to transfer money to another VFD Microfinance Bank account:

Using the VFD Mobile App:

  • Open the VFD Mobile App and log in to your account.
  • Tap on the “Transfer” option.
  • Select “VFD Account Transfer”.
  • Enter the beneficiary’s account number and the amount you want to transfer.
  • Review the transfer details and tap on “Transfer” to confirm.
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Using the VFD USSD code:

  • Dial *5037*4*amount*account number# on your mobile phone.
  • Replace “amount” with the amount you want to transfer and “account number” with the beneficiary’s account number.
  • Enter your four-digit PIN and press “Send”.

Transferring money to another bank account in Nigeria

on phone banking
on phone banking

There are also two ways to transfer money to another bank account in Nigeria:

Using the VFD Mobile App:

  • Open the VFD Mobile App and log in to your account.
  • Tap on the “Transfer” option.
  • Select “Other Bank Account Transfer”.
  • Select the beneficiary’s bank from the list and enter their account number.
  • Enter the amount you want to transfer and review the transfer details.
  • Tap on “Transfer” to confirm.

Using the VFD USSD code:

  • Dial *5037*5*amount*account number# on your mobile phone.
  • Replace “amount” with the amount you want to transfer and “account number” with the beneficiary’s account number.
  • Enter your four-digit PIN and press “Send”.

Transferring money internationally

send money
send money

To transfer money internationally from VFD Microfinance Bank, you can use a wire transfer or a money transfer service.

Using a wire transfer:

  1. Contact VFD Microfinance Bank and provide them with the beneficiary’s bank details, including their account number, SWIFT code, and bank address.
  2. VFD Microfinance Bank will initiate the wire transfer and provide you with a tracking number.
  3. You can use the tracking number to track the status of your transfer.

Using a money transfer service:

  1. Choose a money transfer service that supports transfers from Nigeria to the beneficiary’s country.
  2. Create an account with the money transfer service and provide them with your personal details and the beneficiary’s details.
  3. Deposit the amount you want to transfer into your money transfer service account.
  4. The money transfer service will initiate the transfer and provide you with a tracking number.
  5. You can use the tracking
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Fees and limits for transferring money from VFD Microfinance Bank

The fees and limits for transferring money from VFD Microfinance Bank vary depending on the transfer method and the destination country.

Fees for transferring money to another VFD Microfinance Bank account:

There is no fee for transferring money to another VFD Microfinance Bank account using the VFD Mobile App or USSD code.

Fees for transferring money to another bank account in Nigeria:

  • There is a fee of ₦50 for transferring money to another bank account in Nigeria using the VFD Mobile App or USSD code.
  • The beneficiary bank may also charge a fee for receiving the transfer.

Fees for transferring money internationally:

The fees for transferring money internationally vary depending on the transfer method and the destination country.

  • For wire transfers, VFD Microfinance Bank charges a fee of ₦3,000 plus 0.5% of the transfer amount.
  • For money transfers, the fees vary depending on the money transfer service you choose.

Limits for transferring money from VFD Microfinance Bank:

  • The daily limit for transferring money from VFD Microfinance Bank is ₦5 million.
  • The monthly limit for transferring money from VFD Microfinance Bank is ₦10 million.

How to troubleshoot common problems with transferring money from VFD Microfinance Bank

payment security
payment security

If you are having problems transferring money from VFD Microfinance Bank, you can try the following:

  1. Make sure that you have entered the beneficiary’s account number correctly.
  2. Make sure that you have sufficient funds in your account to cover the transfer amount and fees.
  3. Try transferring money using a different transfer method.
  4. Contact VFD Microfinance Bank for assistance.
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What to do if your transfer is delayed or declined

If your transfer is delayed or declined, you can contact VFD Microfinance Bank for assistance. They will be able to investigate the issue and provide you with an update on the status of your transfer.

Conclusion

Transferring money from VFD Microfinance Bank is a simple and straightforward process. You can transfer money to another VFD Microfinance Bank account, another bank account in Nigeria, or even an international bank account using a variety of methods.

FAQs

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

Domestic transfers are typically processed within 24 hours. International transfers may take up to 3 business days to be processed.

What is the maximum amount of money I can transfer from VFD Microfinance Bank?

The daily limit for transferring money from VFD Microfinance Bank is ₦5 million. The monthly limit is ₦10 million.

What are the fees for transferring money from VFD Microfinance Bank?

The fees for transferring money from VFD Microfinance Bank vary depending on the transfer method and the destination country. For domestic transfers, there is a fee of ₦50. For international transfers, the fees vary depending on the transfer method and the destination country.

Can I transfer money to another bank account using the VFD Mobile App or USSD code?

Yes, you can transfer money to another bank account in Nigeria using the VFD Mobile App or USSD code. However, there is a fee of ₦50 for this service. The beneficiary bank may also charge a fee for receiving the transfer.

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