The banking experience of many customers has improved over time because of the improvement in services, thanks to the contribution of technology and globalization. You can make your financial transactions anywhere in the world without stepping into the bank. With more people having unlimited access to mobile phones, we now can bank with ease.
Polaris Bank is one of the major banks in Nigeria that have improved its services by introducing ways in which clients can reduce their frequent visits to the bank and still send and receive money. With the use of USSD codes and the Polaris Bank mobile application, customers can handle bank services themselves.
The purpose of this article is to teach you how to transfer money from Polaris Bank to other banks using the USSD codes and the mobile app. To learn more about this, kindly keep reading.
How to Transfer Money From Polaris Bank Using Ussd Code
USSD banking allows users to enjoy banking services on their mobile phones. There is no need for the use of the internet to access these services since it only happens with call codes. In addition to this, the USSD service is only accessible to current and savings account holders.
The feature and benefits of USSD banking are as follows:
- Works on all mobile devices.
- Works without internet.
- Works with all registered mobile networks.
- Works 24 hours daily.
- Fast and secure.
- Easy to use and understand.
- Can be used to sort bill payments.
- Can be used to purchase airtime and data.
- Can be used to check account balance.
If you are using it for the first time, you would need to register your phone number on the Polaris Bank mobile banking platform. It is necessary to use the phone number that is linked with the Polaris Bank account. Follow these steps to know how to register for USSD services.
- Step one: Start by dialing the code *833#.
- Step two: Select the sign-up option and register your account number.
- Step three: Create a four-digit pin for your transaction and confirm it by re-entering it.
- Step four: After your balanced is displayed, it shows that you have successfully registered.
- Step five: Submit and begin to make transactions.
Now that you have become a registered Polaris Bank mobile banking user, it is time for you to learn how to transfer money from your account to other banks. There are two methods we can utilize to send money to other people.
- Firstly, dial *833# on your mobile phone. As it was stated earlier, you do not need to be connected to the internet to do this.
- Once you have dialed it, select the third option that takes you to the transfer page.
- Thirdly, Choose the bank of the beneficiary.
- Then enter the account number of the beneficiary and confirm if the bank details are correct before pressing the ‘send’ option.
- Input the amount you want to transfer to the receiver.
- Confirm your transaction by entering your pin.
- Wait for a confirmation message and a debit alert to tell you the status of your transfer.
The second method is way shorter than the first method.
- The first step is to dial *833*Amount*Account Number# on your mobile phone. For example *833*5000*0123456789#. This will fast-track the process and take you to the next page.
- Secondly, choose the bank of the beneficiary.
- Ensure the details of the receiver are verified and correct before going on to the next step.
- If you have two accounts with Polaris Bank, you can choose which account you want to send money with.
- Lastly, enter your four-digit pin to confirm and complete the transaction.
- Wait for a confirmation message as well as a debit alert to show that the transfer was a success.
You should note that there are fixed bank charges (6 naira per session) that come when you use the USSD code to make any transactions or inquiries. Furthermore, there is a limit to how many transactions you can make in a day.
You cannot send more than 20,000 naira at once and your transfer is only limited to 50,000 naira in a day. In addition, Intra-bank transfers (Polaris Bank to Polaris Bank) cost 10.50 naira while interbank transfers (Polaris Bank to other banks) cost 52.50 naira.
How to Transfer Money From Polaris Bank to Other Banks Through the Polaris Bank App
The features and benefits of the Polaris Bank mobile app are as follows:
- It requires an internet connection to function.
- It is fast, safe and well secure.
- It only works on smartphones.
- It gives you total control of the money that is saved in the bank.
- It can be used to send money, pay bills and even collect loans.
- It shows your statement of account and transaction history.
Before you can send money on the Polaris Bank Mobile App, you need to be a registered user. Registration is very easy and it can be done without visiting the bank. The guidelines below will show you how to register and transfer money from your Polaris Bank app to other banks.
- Firstly, ensure your internet is connected and visit the app store of your device to download the Polaris Bank Mobile application.
- Once you download and install the app on your smartphone, sign up to register your account details. You will be asked to submit your Bank Verification Number and debit card details to ensure that your bank account is well documented.
- Create a username and password as well as a unique pin to confirm your transfers in the future.
- After your registration, log in to the app and input your username and password.
- Go to the homepage or dashboard of the app and select the transfer icon on the dashboard.
- Add the account name and number of the recipient and confirm the bank details. Save the bank details as a future beneficiary if necessary.
- Enter the amount of money you want to send and put down a narration (Reason for sending).
- Enter your secured pin to confirm the transfer and send. Wait for a notification to confirm your transaction and log out.
Using bank apps to send money is faster, and more efficient compared to the use of USSD codes. Nevertheless, both processes are still preferable to queuing for long hours in the bank.
In summary, I have explained the benefits and features of mobile banking and how you can register and transfer money from your Polaris Bank account to other banks. Follow the steps stated above to enjoy a smooth banking experience without visiting a bank. Lastly, always double-check the bank details before sending money out to avoid sending it to the wrong account.
Thank you for reading.