Currently, the value of fund transfers in Nigeria was known to be over N2.6trillion naira between January and June 2020. This is good since Nigerians have finally embraced e-channel platforms to do all transactions which happen to be a positive signal in the right direction.
Despite stalling the success of our e-channel platforms such as dispense errors, having network downtime, having false debit, etc. We are still confident enough to say we’ve made significant progress in using this platform. Though we have not been able to match world-class banking.
In recent times, we have seen a lot of people making inquiries about knowing the first bank’s ATM transfer limit and ATM withdrawal limit in Nigeria. So in case you are a regular user of these alternate platforms for fund transfers and withdrawals in the country, then you will surely get all your answers in this post.
About First Bank Nigeria
In case you don’t know, first bank Nigeria happens to be one of the oldest financial powerhouses and indeed the largest retail lender in Nigeria. They are also the 1st bank to be established in West Africa.
They were incorporated in Liverpool as a Limited Liability company sometime in March 1894 with the name Bank of British West Africa.
They were listed on the Nigerian Stock exchange (NSE) in 1971 after they acquired its name. Due to growth, the bank acquired its merchant banking subsidiary, FBN, the Merchant Banker limited and MBC International Bank Plc.
Note that First Bank maintains a subsidiary in the United Kingdom which also has a branch in Paris. They also have their representative offices in China, South Africa and Dubai through which they offer offshore financial services.
Note that the First bank offers a wide range of services which includes wholesale, retail and consumer banking products and services to customers in ensuring that it keeps true to its name as the 1st bank of choice in Nigeria.
The First bank ATM transfer limit
The First Bank Automated Teller Machines known as ATM are located everywhere in Nigeria for transactions such as balance enquiry, airtime purchase and money transfers. However, you can still use other bank’s ATM cards on the First Bank ATM machine.
The recent changes have enabled first bank customers to be able to now transfer up to one million naira from their account each day via ATM centers. Although the limit was five hundred thousand, after complaints by customers, they increased the amount especially for those with corporate accounts.
Things You Can Do With First Bank ATM
Checking Account Balance: It is meant for all Account (both savings and current) holders nationwide.
You can get a mini statement: Here is another feature that allows a customer to print the last eight transactions on his own account.
You can do cash withdrawal: You have 24/7 access to your cash as you can withdraw cash from your own account at any First bank ATM at any time.
You can change PIN: You are allowed to do a PIN change on FBN cards
It has cardless functionality: With this, transferred funds can be collected without the use of a card at any First Bank ATM
You Can Use The Quick Teller Option
You Can Pay Airlines: You can do payments for pre-booked Aero Air Tickets and others.
Airtime Recharge: Here is another feature that enables customers to recharge mobile phones through ATM and can be done in two ways;
The Virtual Top Up: With this, customers can get phone credits topped up immediately by increasing the previous credit balance by the requested amount. However, this is available for only MTN, Zain and Glo network
Make Bill Payment: Customers can pay for utility bills such as DSTV subscription fees and GSM Postpaid bills payment.