Summary
You need to pay a supplier on a large order made in the past few days. but unfortunately, he doesn’t have a UBA account like you. So How to transfer money from UBA to another bank in Nigeria?
This question drives many new entrepreneurs crazy. but don’t worry, it is not important to go through Worldremit or Remitly to send money between your friends in Nigeria. In this article, we will explain in depth the various methods allowing you to carry out this operation.
What is transferring money to another bank?
The term money transfer is used when making a transaction in your bank to move funds from your bank account to accounts.
How to transfer money from UBA to another bank in Nigeria?
To be able to transfer your money from a UBA account to another bank in Nigeria, you have 3 easy methods: using the UBA USSD code, the UBA mobile application, as well as the UBA online banking service.
Method 1: Using USSD to transfer money from UBA to another bank
This method is quick and easy to use, as it requires any phone. To do this, simply follow the following procedures:
1. Dial UBA USSD code *919# on your phone.
2. Then select option “4” to transfer to another bank.
3. Enter your UBA mobile banking PIN to authenticate the transaction.
4. Choose the destination bank by selecting from the available names
5. Enter the beneficiary’s account number.
6. Indicate the amount you want to transfer.
7. A confirmation message will be sent to you if the transaction is successful.
Method 2: Transfer money from UBA to other banks via the UBA Mobile App
If you use a smartphone, I would advise you to use a UBA mobile app to share money. To do this, simply follow the following procedures:
1. First open the UBA mobile app on your smartphone.
2. Log in to your account using your credentials or biometrics.
3. On the home screen, choose “Transfer” located at the bottom of the screen.
4. Choose the type of your transfer, by selecting “Other Banks“.
5. Correctly enter the beneficiary information, including bank name, account number, and reason for transfer (optional).
6. Indicate the amount to transfer.
7. Review the transaction details to ensure the information is correct.
9. Enter your UBA mobile app PIN or biometrics to validate the transfer.
10. Confirm the transfer and wait patiently for the transaction to complete.
NB: You can download the coupon for this transaction in pdf or image.
Method 3: Transfer money from UBA to other banks via UBA Online Banking
If you are good at browsing the internet, I would advise you to use UBA online banking to share money. To do this, simply follow the following steps:
1. First log in to your UBA online banking account by going to UBA banking
2. Then click on the “Transfer funds” menu.
3. Then select “Other Banks” as the beneficiary of the transfer.
4. Then enter the beneficiary’s account number and the bank name.
5. Indicate the amount to transfer.
6. Finally, review the entered transaction details and confirm the transfer.
What are the fees for sending money from a UBA account to another bank in Nigeria?
The transfer fees are as follows:
– For amounts from N0 to N5,000, the fees are N10 + 7.5% VAT.
– For amounts ranging from N5,001 to N50,000, the fee is N25 + 7.5% VAT.
– For amounts above N50,000, the fee is N50 + 7.5% VAT.
How long does it take to send money from a UBA ?
Like transferring money to another UBA account in Nigeria, sending the money via the methods mentioned was done immediately. Generally, you have to wait 1 to 5 business days depending on the type of account.
Frequently asked Questions
How can I check the recipient’s details before making a transfer?
Before confirming a financial transaction, all banks offer you a page where the information entered can be verified.
Why is it crucial to set transaction limits?
This option allows you to secure your spending against unauthorized transfers.
Can I transfer from a UBA account to another international account?
Yes, you just need to know the SWIFT and the name of the bank.
Can I cancel a transfer made?
If the money has not yet arrived at the recipient, simply contact UBA technical support to help you cancel the transfer.
Conclusion
In conclusion, sending money from UBA to other banks in Nigeria is now a simple matter. The bank offers you 3 secure methods to carry out your transaction. It is important to verify the recipient’s information provided to ensure the money reaches the correct location.
