Access Bank has announced the availability of Foreign Currency Transfer for all domiciliary account holders.
According to the bank, this latest addition intends to offer customers a convenient and effortless method for conducting international currency transfers.
In order to guarantee a smooth and trouble-free process, Access Bank has provided a simple and clear-cut tutorial within their mobile banking application, AccessMore, to assist customers in executing these transfers.
For Access-to-Access Transfers:
- Log in to AccessMore, the mobile banking application offered by Access Bank.
- Select the “Access Transfer” option from the menu.
- Choose your Foreign Currency (FCY) account from the provided options.
- Enter the beneficiary’s FCY account number, transfer amount, and add a description of the transfer in the Narration field.
It is important to note that cash deposited cannot be transferred within Access Bank using this feature.
For Access to Other Banks Transfers (Cross Currency, Local & International):
- Log in to AccessMore using your account credentials.
- Click on the “Show all” option to access additional services.
- Under the “Transfers” section, select “Foreign currency.”
- Proceed by providing the beneficiary’s FCY details in the “Beneficiary Detail” section. You can choose to input either the IBAN details or Account details by tapping the slider accordingly.
- Enter the transfer amount, choose the bearer of the transfer charge, specify the purpose of the transfer to determine applicable fees, and complete the transaction.
keep in mind that Foreign Currency (FCY) is the only available feature for Cross Currency transfers. Moreover, transfers to other banks that are initiated before 4 pm will be processed immediately, while transactions initiated after 4 pm will be processed on the next working day.
Customers may be contacted via email by Access Bank’s fund transfer team if additional information or documents are needed to successfully complete the transfer. Cash deposits are limited to $10,000 per transaction, and the maximum transfer amount is $20,000 per month. However, there are no restrictions on international inflow transfers.
Access Bank strives to offer enhanced banking solutions to its customers and remains committed to facilitating seamless and secure transactions. The introduction of Foreign Currency Transfer on AccessMore demonstrates their dedication to customer satisfaction and innovation in the banking sector.