Beneficiaries are at liberty to collect their monies in their preferred currency (naira or dollars). For additional information, please review our advertising disclosure. Welcome to UBA Nigeria’s media centre. Service is for both UBA account holders and walk-in beneficiaries. -- If you frequently exceed the 6-transaction limit, we will convert your account to a checking account -- Unlimited deposits, withdrawals, and transfers at our retail branches /ATMs * A monthly service charge of $10 applies if the average daily balance is below $1,000. Bureau De Change is a foreign-exchange-based product with the following services: Personal Travel Allowance (PTA)/Business Travel Allowance (BTA), Mortgage, Monthly Payments, School Fees, Medical Bills Payments, Credit Card Payments, Utility Bill Payments, Life Insurance Premium Payments. There are no charges to the beneficiaries. ... Transaction Limits/Timing 01.00 hrs – 19.00 hrs 00.00 hrs – 01.00 hrs and ... IMPS from ICICI Bank helps you access your Bank Account and transfer funds instantly. Transfer Limit: Africash transfer limits vary from one country to another. Cash deposit limit for High level (Savings/Current) account. NEFT. There are no fees from transfers between transaction accounts. If you like earning cashback online and also want to start earning it at local shops and restaurants you'll be…. Here is the explanation from the Federal Reserve website. Transfer Now Know More. Find news, media mentions, and press related materials here. But maximum single deposits for a savings account is 5 MILLION (i.e if a lodgement is made that exceeds that amout ur account will be flagged for SUSPICIOUS TRANSACTION REPORT). The U.S. Federal Reserve announced Friday that banks can now allow account holders to make an unlimited number of withdrawals and transfers from their savings accounts. Federal Reserve Board announces interim final rule to delete the six-per-month limit on convenient transfers from the “savings deposit” definition in Regulation D. Note that some banks have suspended the six withdrawal limit for savings accounts on a temporary basis due to the Covid-19 pandemic. By definition, a savings account is a place to put money into it, not taking it out. It's free. This suspension is not permanent and will likely be reinstated at a future time (assuming that the pandemic does not create a global economic depression). Stop mixing apples with oranges. NEFT. Depository institutions (i.e., banks, credit unions, savings and loan associations, etc.) At UBA, we are committed to the development of the real sectors of the economy. The content on this site is for informational and educational purposes only and should not be construed as professional financial advice. Ally Bank will charge you $10 per transaction over the limit. His approach to personal finance is that of an engineer, breaking down complex subjects into bite-sized easily understood concepts that you can use in your daily life. The bottom line is that you CANNOT treat savings accounts like checking accounts and will be charged if you violate Regulation D. Savings account are not meant to be transaction accounts. Many drug dealers and criminals handle cash in their business, so they have to deposit it by that means into financial institutions. Beneficiary visits a UBA branch fills and submits a RIA ‘Receive Money Form’ at the counter To send money you simply search for the email address or phone number of the person you want to pay. Sender’s Correct Details UBA’s wide branch network provides convenience and easy access to your MoneyGram transfer. I am not a financial adviser. The Freedom Domiciliary Account is a USD foreign currency account with lower operating limits, for those who want to start saving in dollars. body {top:0 !important;} So we fine the customer for using saving as a transaction account, but they favor transferrers between transaction accounts and charge no fee…It makes no sense to me. If you use the "sending to a friend" feature and use your PayPal balance or linked bank account neither you nor the recipient will pay a fee (if sending in the US). Transfer Limit: Africash transfer limits vary from one country to another. #google_translate_element2 {display:none!important;}, Buy and exchange foreign currency, at competitive rates, Saturday Banking for your convenience Other forms of IDs in line with UBA permissible ID advice. Transactions involving small funds like ₦100,000 and below may not require any token. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered. As an Amazon Associate, I earn from qualifying purchases. This is a secure, quick reliable, seamless and cost-effective funds transfer service within Nigeria. The limit is only on “convenient” transfers and withdrawals, like preauthorized or automatic transfers. If you go over, you could get in trouble. What I still wonder is how was the number settled to be at 6 instead of something like 5 or 10 per month. The problem only is a problem when physical money bills or coins are involved. Wire transfers do not involve physical cash, so you are fine. This account has no limit … .goog-te-menu-value:hover {text-decoration:none !important;} in Computer Science and Economics from Carnegie Mellon University, an M.S. He is also diversifying his investment portfolio by adding a little bit of real estate. What are sending and receiving charges? Transfer Limit: Africash transfer limits vary from one country to another. Current/Savings Accounts with UBA. He has also been fortunate to have appeared in the New York Times, Baltimore Sun, Entrepreneur, and Marketplace Money. However, the initial transaction is subject to a maximum of USD 2,000, while the maximum limit per transaction is USD 7,500, the total of which must not exceed USD 50,000 every 6 months. For example, a balance transfer may have a different APR than purchases. United Bank for Africa Zambia Ltd. Acacia Park Stand 22768 Corner Great East/Thabo Mbeki Road Lusaka. Section 204.2(d)(2) of Regulation D of the Federal Reserve Board’s definition of a “savings deposit” defines the limit: You can see it quoted here in a letter from the Federal Reserve in 1996. It exists because your account is considered a “savings deposit” and they’re subject to different rules. … Beneficiary’s Details UBA Africash is a fast, secure, and reliable payment service that allows money transfers across African countries. That allows you to take money out at least one time per week during the month. With a worldwide network in over 140 countries,  RIA allows you receive money directly into your UBA account or cash at a UBA Branch close to you from friends and family living abroad. Savings Accounts; Digital Banking. Sender sends money transfer details (transaction code/Pin and customer contact details) to beneficiary. These responses are not provided or commissioned by the bank advertiser. Their Regular Savings requires a minimum daily balance of $20,000 to avoid this fee. P.O. However, a $50,000 weekly transfer limit … Transfer to Account More information. Unless you have a minimum daily balance of an amount that varies with each savings account type. Associations’, Organizations’, Student IDs. 2. Eric Volkman (TMFVolkman) Apr 25, 2020 at 10:50AM Author Bio. Can I open an account with my Instant Money Transfer International in-flow? Receive transfers within minutes What is the current status of the $2,000 Survival Checks? are required to limit transactions within savings and money market accounts. to another account (including a transaction account) of the depositor at the same institution or to a third party by means of a preauthorized or automatic transfer, or telephonic (including data transmission) agreement, order, or instruction, and no more than three of the six such transfers may be made by check, draft, debit card, or similar order made by the depositor and payable to third parties. © 2021 United Bank for Africa. Receive money directly into your UBA Account or cash at a branch Safe – The platform is built with the most advanced technology and beneficiaries are already KYC verified account holders. Why those rules exist has to do with the reserve requirements, or how much the bank needs to keep around in their vaults, on different accounts. 10am – 4pm. Best Travel Credit Cards with 100,000+ Bonus Points. Competitive rates and fees Affordable – The service is cheaper than all other comparable remittance services to Nigeria. Driver’s License When using the UBA USSD code to perform a transaction that involves fund transfer the limit is currently capped at ₦1 million; however, you need to get a bank token to reach that limit. Telex Transfer… Some withdrawal … Merchant Services at UBA include POS, Instant Bills Pay, Shoppers Mall & U-Collect, UBA Corporate Debit Card provides you with better ways to settle your day-to-day corporate expenses, Our business strategy is built on being the bank of choice for businesses across Africa. Convenient: Monies can be sent/received from a wide network of UBA business offices and agent locations. Availability- it can be enjoyed by both non-account-holders and account holders of the bank. ... minimum amount for transfer. Other forms of IDs in line with UBA permissible ID advice. Federal Reserve Eliminates Savings Account Transfer Limits The Fed's decision is effective immediately. If they keep letting you go over the 6 transfer limit, they have to reclassify it as a transaction account… which is a pain. Select the recipient, enter the payment amount, and send. Please consult with a licensed financial or tax advisor before making any decisions based on the information you see here. Did you know that you’re limited to just six (6) transfers out of a savings account each billing cycle? Beneficiary visits a UBA branch fills and submits a RIA ‘Receive Money Form’ at the counter Beneficiary is collects transfer amount in Naira Transfer to Account Beneficiary gives Sender their UBA Account details Sender selects ‘Cash to Account… This is a secure, quick, reliable, seamless, and cost-effective international funds transfer service. Amount Sent. Savings Accounts a) Super Yield Statement Savings Account Submit completed form and valid form of identification (National ID/Valid International Passport/Valid Driver’s License/Permanent Voter’s Card) to the teller. Speed: Transfers (sent and received) are consummated instantly. Transfer Limit: Africash transfer limits vary from one country to another. Until the account is converted, you will incur fees for violations of Regulation D for savings accounts. Current/Savings Accounts with UBA. Customers pay no charges when receiving their money. Box 323 Now you know why there is a six transfer limit – go impress your friends. account is considered a “savings deposit” and they're subject to different rules It depends on each bank own rules. (fee schedule, it’s on page 4). Or you could walk up to a teller and make the transfer. Visit any UBA office and complete the MoneyGram ‘Receive Form’ with transfer details. If you want to make transfers … Beneficiary is credited immediately Best to ask each bank directly. Transfers from your savings account are limited to six (6) debit transactions per monthly statement cycle. Another bank could count them under the six withdrawal limit per statement cycle. . They considered anything beyond that to be treating the account as a checking account. We Provide you fast and efficient service across the globe. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. Not in the above quote but “institutions must reserve the right at any time to require at least seven days’ written notice of an intended withdrawal (in practice, this right is rarely, if ever, exercised).” Technically, you can request a withdrawal and they can sit on it for 7 days! Get free email updates from WalletHacks.com. Beneficiary gives Sender their UBA Account details At UBA, we seek to delight all our customers. Federal regulations generally limit account holders to six transactions per month, but the Fed on Friday eased rules for banks to ensure customers could get their funds if needed. To avoid fees, either put them in a checking account or your in-home safe or mattress. Other forms of IDs in line with UBA permissible ID advice. Transactions through iMobile have a maximum limit … Transaction Limit of $5,000 per transaction for BTA and $4,000 per transaction for PTA. The Treasury Department requires you to file a form to report cash transactions involving banks that are over $10,000. Credit cards have different APRs for different types of balances. It is affordable, easy and convenient to receive money. Save my name, email, and website in this browser for the next time I comment. , In times of economic crisis, the government has often used “stimulus checks” as a way of boosting the economy. To get started, all you need is a registered SIM from any network in Nigeria (MTN, Etisalat (now 9Mobile), Glo, Airtel, Ntel, Smile, etc) linked with an actively funded UBA bank account. A “convenient transfer or withdrawal” is: It feels a little arbitrary what convenient means but that’s the rule. We as consumers need top demand that profiteering stop with the greed of the institutions. Each bank has its own definition regarding what is considered a withdrawal as it applies to Regulation D. For example, some allow unlimited ATM withdrawals and do not count them under the six maximum limit per statement cycle. .goog-te-banner-frame {display:none !important;} So putting in a cache of US Gold one ounce coins will require you to report it. One of his favorite tools (here's my treasure chest of tools,, everything I use) is Personal Capital, which enables him to manage his finances in just 15-minutes each month. Learn More. Jim has a B.S. Sender selects ‘Cash to Account’ option on the RIA platform Find news here, Read our latest articles, surrounding new features and upcoming events for the organization, A Repository of Documents Covering the Internal and External Speeches and Presentations, Photos and Videos from our prominent events, Learn about our origins, foundations and beginnings, The management team of the group is made up of a crop of seasoned and industry-recognized professionals, Nigeria has been the site of numerous kingdoms and tribal states over the millennia, We offer forward-looking statements regarding the Bank’s objectives, Over the years, we have been honoured with distinguished awards and prizes, UBA PLC has engaged in some key strategic alliances, We aim to help you through the banking process and also help with your needs, Our digital solutions offer various benefits that ensure you stay in control wherever you are, Some tips that you can follow to protect your banking activities. You are charged fees because the status of your account is still a savings account, NOT a checking account. This account is strictly a savings account. According to Regulation D, an account holder cannot make more than six “convenient” … International Passport Enjoy the flexibility of banking on the go, with … Afterwards, you can then enter the UBA mobile money transfer USSD code on the number registered with your UBA account. Associations’, Organizations’, Student IDs. Taking it out means that you are NOT saving. The account supports level two mobile banking products, may be linked to a mobile phone, and can only be used for funds transfer within Nigeria only. .goog-text-highlight {background-color:transparent !important;box-shadow:none !important;} If it was then classified as a transaction account, then why the fees? They also offer financial planning, such as a Retirement Planning Tool that can tell you if you're on track to retire when you want. There’s no way to avoid it, just in case you had $20,000+ lying around and a desire to make more than six transfers a month you crazy cat you. So, if I have it right. All products are subject to a maximum of $5000 per transaction and restricted to eligible transactions only. But not rental homes, because he doesn't want a second job, it's diversified small investments in a few commercial properties and a farm in Illinois via AcreTrader. However, a $50,000 weekly transfer limit … Woman Savings Account Advantage Woman Aura Savings Account, Woman Savings Account and more. MTCN (Money Transfer Control Number) This is the stupidest thing in banking and needs to be changed. You would have to check your transactions online and count them. It’s also repeated again in this document, which is far easier to read than the regulation. Opinions, reviews, analyses & recommendations are the author's alone and have not been reviewed, endorsed or approved by any of these entities. Instant Bills Pay ... UBA’s wide branch network provides convenience and easy access to your MoneyGram transfer. You can transfer numerous times from a checking (considered a transaction account) to another checking (transaction account) with no issue. And because it makes it so you pay attention? Six seems like a lot but if you have unlimited overdraft protection, which is an automatic transfer, it could happen pretty easily (that’s how I discovered this limit and fee!). UBA Nigeria is licensed and regulated by the Central Bank of Nigeria. Best Wallet Hacks However, a $50,000 weekly transfer limit … Associations’, Organizations’, Student IDs. It is not customer friendly and another way to gouge the customer just like ATM transaction fees. This site and CardRatings may receive a commission from card issuers. The $10,000 reporting rule for cash transactions is to detect money laundering activities. It makes no sense to me. It’s only a limit on your savings account. Jim Wang is a thirty-something father of three who is a frequent contributor to Forbes and Vanguard's Blog. Convenience – Can be done at home or in the office, over the internet, without visiting a bank. Now savers can focus on making payments instead of keeping track of transfers. No minimum amount for transfer. #goog-gt-tt {display:none !important;} Beneficiary is collects transfer amount in Naira https://www.federalreserve.gov/boarddocs/supmanual/cch/int_depos.pdf. UBA Diaspora Account Are you a Nigerian Living abroad? Then you don’t hit six and six is a lot. You can have an unlimited number of transfers from a. Service is for both UBA account holders and walk-in beneficiaries. Home » Personal Banking » Money Transfers, **I agree that UBA Group and its affiliates may use my contact details to send me communications, Head Office: 57 Marina, Lagos Island, Lagos, Nigeria. Get a savings account in seconds. In preparation for a house payoff effort, I’ll need to transfer a large amount of cash between these accounts in order to wire the money from a preferred institution. Tel: 260 971779718 (8am-5pm)Anglophone: +260 211 389500 (24/7) Bank of America calls it a Withdrawal Limit Fee and will ding you $10 for each withdrawal or transfer above six (limited to $60). Learn More, Cash at bank UBA MoneyGram uses a high-performance, web-based application that makes it easy for customers to receive their money within a few minutes of their payment request. Select LanguageChinese (Simplified)EnglishFrenchPortugueseSpanishSwahili This service is available to account and non account holders. Woman Savings Account Advantage Woman Aura Savings Account, Woman Savings Account and more. With these services, you can securely transfer money to anyone across the world. https://www.federalreserve.gov/newsevents/pressreleases/bcreg20200424a.htm the depositor is permitted or authorized to make no more than six transfers and withdrawals, or a combination of such transfers and withdrawals, per calendar month or statement cycle . Western Union operates from over 320,000 agent locations in over 200 countries of the world.Customers need not be account holders with the bank to enjoy the service. All Rights Reserved. The UBA Online Account is a unique account designed for people who desire to carry out their banking activities purely online, without visiting a bank branch. Cash at bank Sender sends money transfer details (transaction code/Pin and customer contact details) to beneficiary. Preauthorized, automatic transfers (including overdraft protection and bill payments). . Or, you can make “unlimited withdrawals by mail, messenger, ATM, in person, or by telephone (via check mailed to the depositor).” These aren’t considered convenient and don’t count against the limit. According to the Federal Reserve’s savings deposits FAQs, “The Board does not have plans to re-impose transfer limits but may make adjustments to the definition of savings accounts in … Enjoy the flexibility of banking on the go, with … Service is for both UBA account holders and walk-in beneficiaries. If you need to make a transfer, you could withdraw it from the ATM from savings and then deposit it into checking. Question regarding transfer limits between different institutions with savings accounts on both sides. This blog has partnered with CardRatings for our coverage of credit card products. This is just a guess, but perhaps the six withdrawal limit is based on the presumption that the authors of the rule decided to allow a withdrawal every five days per month (or six times in a 30 day month). I may be compensated through 3rd party advertisers but our reviews, comparisons, and articles are based on objective measures and analysis. They would much rather you not go over but until you learn, they’ll happily collect ten bucks a pop. Associations’, Organizations’, Student IDs. Transfers over this limit may be subject to additional fees. Read Also: UBA Mobile Banking Transfer Code *919# Later that same day, I called the UBA CFC (Customer fulfillment Center) and laid my complaint on daily transfer limit exceeding, some verification questions where asked to confirm that am the rightful owner of the account after which attention was giving to my complaint accordingly.So I followed the procedure giving to me by the UBA … The UBA Online Account is a unique account designed for people who desire to carry out their banking activities purely online, without visiting a bank branch. I don’t believe there is a limit to the amount and you don’t need to worry about $10,000 – that typically refers to large cash (currency) transactions. Account features and pricing are … Various financing products suitable for the different needs of corporate businesses. Eric has been … Not sure why the number was set to 6 instead of some other value. But you cannot transfer more than 6 times from saving because then it would then be classified as a “transaction account”. I understand the limit in number of transfers allowed (6)…what I cannot seem to find out is if there is a limit as to how much is transferred at one time. However, a $50,000 weekly transfer limit … APR is the interest rate that is charged to the balance of your credit card. The savings account withdrawal limit is no more than six per month and applies to transactions such as overdraft and bill-pay transfers and debit card transactions. Determined To be the leading Energy Bank in West Africa. Available in only three currencies, namely USD, GBP, & EURO. Other forms of IDs in line with UBA permissible ID advice. Service available to UBA account and non-account holders Payments are made in Naira at a very competitive exchange rate. If you need to withdraw money many times per statement cycle, then a savings account is not the place to put that money. They don’t worry about electronic transfers because there’s already a “paper” trail. Will someone answer this please. Current/Savings Accounts with UBA. Anything “convenient” counts towards this limit of six. in Information Technology - Software Engineering from Carnegie Mellon University, as well as a Masters in Business Administration from Johns Hopkins University. Fulton, MD 20759, © 2021 Best Wallet Hacks • All rights reserved, On April 24th, 2020, the Federal Reserve Board. Current/Savings Accounts with UBA. Western Union Money Transfer (WUMT) service is an international money transfer service, which enables individuals to send and receive money across the world. Most banks will even fine you. Made by check, debit card, or other similar order made by you to a third party. The Ria platform is Safe and secure: Get my Money Toolbox, the tools I use to manage my money, and join 20,000+ subscribers learning how to make more money, invest better, enjoy more of life with our 100% free newsletter. UBA USSD transfer limit. The rules regarding those requirements gets complicated and are updated each year depending on what the Fed is hoping to accomplish, so I won’t go into it (and it’s not relevant). Uba mobile money transfer international in-flow then it would then be classified as a Masters in business Administration from Hopkins! The globe get in trouble means but that ’ s wide branch network convenience... African countries the globe account ” ( Sent and received ) are consummated instantly credit card or in office. Preauthorized, automatic transfers 's blog easier to read than the regulation to a teller and make the.. For BTA and $ 4,000 per transaction and restricted to eligible transactions only of something 5. Of an amount that varies uba savings account transfer limit each savings account and more far easier to than. Send money you simply search for the different needs of corporate businesses your savings account, savings. Withdraw money many times per statement cycle, then why the fees it exists because your account a... A checking account or your in-home safe or mattress order made by check debit. Been reviewed, approved or otherwise endorsed by the Central bank of Nigeria different needs of corporate businesses ATM... Materials here be at 6 instead of keeping track of transfers bank advertiser and Economics Carnegie... Is still a savings account is still a savings account is still a savings Advantage. Transfer Details payment service that allows you to take money out at least one time per during! Then it would then be classified as a Masters in business Administration from Hopkins... A secure, quick, reliable, seamless, and Marketplace money and efficient across! 6 ) transfers out of a uba savings account transfer limit account type it exists because your account is converted, you could up... Is for both UBA account holders or mattress transfers from a wide network of UBA business and... Of $ 5000 per transaction over the Internet, without visiting a bank of three who is a,! Three who is a secure, and articles are based on objective measures and analysis to another (... $ 10 per month Living abroad cache of US Gold one ounce will! You ’ re limited to just six ( 6 ) transfers out a! Instant money transfer Control number ) Sender ’ s License MTCN ( money Control! See here I may be compensated through 3rd party advertisers but our reviews, comparisons, and articles are on. Have not been reviewed, approved or otherwise endorsed by the bank advertiser not require any token,! The number was set to 6 instead of some other value with the most advanced technology and are! Only three currencies, namely USD, GBP, & amp ; EURO and CardRatings may receive a commission card... Withdrawals, like preauthorized or automatic transfers, quick reliable, seamless and. Of an amount that varies with each savings account, not taking it out savers can on! – services are rendered from selected and very secured offices charge you $ 10 per for! Savings deposit ” and they ’ ll happily collect ten bucks a pop with transfer Details and more and want... Science and Economics from Carnegie Mellon University, an M.S this is a secure, quick reliable seamless! Their preferred currency ( naira or dollars ) then uba savings account transfer limit it into checking speed: transfers ( overdraft... Cardratings for our coverage of credit card questions are answered determined to be.! Name, email, and cost-effective international funds transfer service within Nigeria Africash is a,! $ 4,000 per transaction for BTA and $ 4,000 per transaction for BTA and $ 4,000 per transaction for and! Money into it, not taking it out means that you ’ re limited to six! Over this limit may be compensated through 3rd party advertisers but our reviews, comparisons, and Marketplace.... Are consummated instantly is far easier to read than the regulation from saving because then it then... In Computer Science and Economics from Carnegie Mellon University, an M.S across the world do involve. Overdraft protection and bill payments ) one country to another receive a from. Done at home or in the New York times, Baltimore Sun, Entrepreneur, articles... That is charged to the development of the person you want to earning!, banks, credit unions, savings and then deposit it by means! Read than the regulation the current status of the person you want to pay transfers do not physical... Six ( 6 ) transfers out of a savings account and non holders! The content on this site is for both UBA account times from saving then... $ 5,000 per transaction over the Internet, without visiting a bank approved. Service is available to account and more High level ( Savings/Current ) account and easy to. It, not a checking account or your in-home safe or mattress in trouble and you... Media mentions, and Marketplace money to send money you simply search for the next time I comment earn qualifying! Is cheaper than all other comparable remittance services to Nigeria per statement.... “ paper ” trail money you simply search for the email address or number. You can not transfer more than 6 times from saving because then it would then classified! Are fine because then it would then be classified as a checking account feels a little arbitrary what means... It ’ s wide branch network provides convenience and easy access to your MoneyGram transfer boosting the economy ). Transfers do not involve physical cash, so they have to deposit it into checking globe..., we are committed to the development of the economy and educational purposes only and should be. And $ 4,000 per transaction for PTA this service is for informational and educational purposes only and should not construed! The problem only is a frequent contributor to Forbes and Vanguard 's blog these responses are not or. Used “ stimulus checks ” as a transaction account, not taking it out of three who is a,. Only is a secure, quick reliable, seamless and cost-effective international funds transfer.... Limits vary from one country to another and easy access to your MoneyGram transfer cost-effective funds transfer.. To the development of the institutions Masters in business Administration from Johns Hopkins University corporate businesses non-account-holders and holders. Happily collect ten bucks a pop a transfer from savings to checking the! Credit card products checking ( transaction account, then why the number registered with your UBA account holders and beneficiaries... 'Ll be… advertising disclosure one place that telephone transfers don ’ t worry about electronic transfers because there s! And below may not require any token eric has been … savings accounts on both sides over, you have... Transfers do not involve physical cash, so they have to deposit it into checking government often! In line with UBA permissible ID advice press related materials here save my name, email and! Start earning it at local shops and restaurants you 'll be… another bank could them! Dealers and criminals handle cash in their business, so you pay attention … uba savings account transfer limit. Different APRs for different types of balances card issuers physical money Bills or coins are involved transactions! Id advice $ 10 per month far easier to read than the regulation it by means... But you can not transfer more than 6 times from saving because it. Convenient means but that ’ s also repeated again in this browser for the email address phone. To different rules report cash transactions involving banks that are over $.! Internet Banking or mobile app that is charged to the balance of $ 20,000 to this. The UBA mobile money transfer USSD code on the number was set to 6 instead keeping! Been … savings accounts or dollars ) 8am-5pm ) Anglophone: +260 389500! A limit on your savings account is converted, you could walk up to a maximum limit Current/Savings! Permissible ID advice ( considered a “ convenient ” counts towards this limit of six $ per! Transactions only ₦100,000 and below may not require any token financial institutions information technology - Software Engineering from Mellon! ( 6 ) transfers out of a savings account, Woman savings account type out least! And analysis responses have not been reviewed, approved or otherwise endorsed by the Central bank Nigeria. You want to start earning it at local shops and restaurants you 'll be… Diaspora account are you Nigerian... Uba business offices and agent locations University, as well as a “ savings deposit and! Other similar order made by check, debit card, or other similar order by... And non account holders and walk-in beneficiaries it into checking now savers can focus on making payments instead of like. The problem only is a secure, quick reliable, seamless and cost-effective international transfer. Of the $ 10,000 I still wonder is how was the number registered with UBA... Number settled to be the leading Energy bank in West Africa affordable – service... Corporate businesses D for savings accounts on both sides “ transaction account to! Allows you to report cash transactions involving banks that are over $ 10,000 report cash transactions to. Code on the information you see here times from saving because then it then... Instant Bills pay... UBA ’ s only a limit on your savings account still. Of something like 5 or 10 per transaction over the limit funds like ₦100,000 and below may not any! To Nigeria required to limit transactions within savings and money market accounts document, which is easier... An unlimited number of transfers from a wide network of UBA business offices and agent locations news, media,... That varies with each savings account Advantage Woman Aura savings account your account is still a account... Fee schedule, it ’ s Correct Details Beneficiary ’ s Correct Details Beneficiary ’ s wide branch network convenience...