Wema Bank Transfer Limit: What You Need to Know

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Wema Bank Transfer Limit: What You Need to Know

Wema Bank, one of the leading commercial banks in Nigeria, offers its customers a wide range of banking services, including electronic fund transfers. However, like other banks, there are limits on the amount of money you can transfer in a single transaction or within a specific time frame.

Wema Bank Transfer Limit: What You Need to Know

In this article, we’ll take a closer look at Wema Bank’s transfer limit and what you need to know.

Wema Bank Transfer Limits

Wema Bank’s transfer limit varies depending on the type of account you have and the transfer method you choose. The following are the transfer limits for different types of Wema Bank accounts:

  • ALAT Account: With an ALAT account, you can transfer up to N200,000 in a single transaction and up to N2,000,000 daily. However, if you need to transfer more than N2,000,000, you’ll need to contact the bank to increase your daily limit.
  • Wema Bank Regular Savings Account: For a regular savings account, you can transfer up to N200,000 in a single transaction and up to N2,000,000 daily.
  • Wema Bank Current Account: With a current account, you can transfer up to N5,000,000 in a single transaction and up to N10,000,000 daily.

It’s important to note that these transfer limits are subject to change, and it’s always a good idea to confirm with the bank for any updates.

Transfer Method and Limits

Wema Bank offers several transfer methods, and each has its own transfer limit. The following are the transfer methods and their limits:

  • WemaMobile Transfer: With the WemaMobile app, you can transfer up to N200,000 in a single transaction and up to N2,000,000 daily.
  • USSD Transfer: With the Wema USSD code *945#, you can transfer up to N100,000 in a single transaction and up to N500,000 daily.
  • Internet Banking Transfer: With Wema Bank’s internet banking, you can transfer up to N5,000,000 in a single transaction and up to N10,000,000 daily.
  • ATM Transfer: With Wema Bank’s ATM, you can transfer up to N200,000 in a single transaction and up to N500,000 daily.

How to Increase Your Transfer Limit

If you need to transfer more than the limits listed above, you can contact Wema Bank’s customer care to increase your transfer limit. You’ll need to provide the reason for the increase and the amount you need to transfer. The bank will review your request and let you know if they can increase your limit.

Conclusion

Wema Bank’s transfer limit is designed to protect customers from fraud and ensure that the bank’s resources are used effectively. By understanding the transfer limits for your account and transfer method, you can plan your transactions accordingly and avoid any inconvenience. If you need to transfer more than the limit, you can always contact the bank to increase your limit. With these guidelines, you can use Wema Bank’s electronic fund transfer services with confidence.

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