Transferring money from your Opay account to another bank account can sometimes be confusing, especially if you’re unfamiliar with the app’s features or encounter issues during the process.
In some cases, users might face problems such as incorrect recipient details, transfer limits, or technical glitches.
This post will guide you through a step-by-step process to ensure a smooth money transfer from your Opay account to any other bank account in Nigeria.
We’ll cover everything from initial requirements to troubleshooting common issues, making sure you can handle transactions with ease and confidence.
Requirements: Transfer to Another Bank Account on Opay App:
- Opay App: Make sure the Opay app is installed and updated on your smartphone.
- Bank Account Number: You need the 10-digit NUBAN number of the recipient’s bank account. Double-check that the number matches the recipient’s name during the transfer process.
- Fund Account: Ensure your Opay account is funded. You can deposit money into your Opay account via:
- Debit Card Transfer
- Opay account transfer
- Bank Transfer (using USSD codes or mobile banking apps)
- Internet Connection: Your smartphone should be connected to the internet, either through mobile data (MTN, Glo, Airtel, 9Mobile) or Wi-Fi.
How to Transfer Money to Another Bank Account on Opay App
Here are five simple steps to send money from Opay app to another another bank account in Nigeria:
1. Open the Opay App:
Launch the Opay app on your smartphone and log in with your credentials (e.g., mobile number and password).
2. Navigate to the Transfer Section:
Tap on the “To Bank” button located on the left side of the app dashboard, next to the “To Opay” icon. This section allows you to transfer money from your Opay account to a bank account in Nigeria.
3. Enter the Receiver’s Bank Account Details:
Input the recipient’s 10-digit bank account number and select the bank name from the provided options in the “Recipient Account” section.
4. Enter the Amount:
Specify the amount you wish to transfer. Ensure it does not exceed your account tier’s transaction limit.
Check the next section to know all Opay accounts transaction limits
5. Send Money to Bank Account:
Review the transaction details for accuracy. If everything is correct, confirm and send the money. The recipient will receive the funds instantly.
Read: How to Send Money to Another Opay Account
Opay Account Transfer Limits
One of the thing to be aware of when sending money on Opay app is your Opay account tier limit: Below are these transaction limits:
- Tier 1: Up to 50,000 Naira per transaction.
- Tier 2: Up to 200,000 Naira per transaction.
- Tier 3: Up to 5 million Naira per transaction.
Read: How to Check Transaction Limit on Opay App
Opay Transfer Fees
Opay offers 3 free daily transfers to other bank accounts within Nigeria. Beyond this limit, a variable fee applies based on the amount you are transferring:
- Transfers within 10,000 Naira incur a 10 Naira fee.
- The transaction fee will be displayed before you confirm the transfer, unlike some banks that do not clearly show the fee in advance.
Why Use Opay App for Bank Transfers
- Free Daily Transfers: You can enjoy up to three free transfers each day.
- Cost-Effective: Unlike using Opay’s USSD code, which incurs a 10 Naira service fee per transaction, using the app only requires an internet connection, making it more affordable.
- Fast and Reliable: Transfers are processed quickly, and funds are received instantly.
Tips for Transferring Money on Opay App
1. Check Recipient Bank Network:
Before sending money to another bank account on Opay, check the bank network status. Proceed If the bank network is stable but wait if it is low.
Read: How to Check Bank Network on Opay App
2. Confirm Recipient Account Details:
Verify the recipient’s bank account number and name before sending money. Reversing incorrect transfers can be difficult and time-consuming.
3. Create a Strong Opay Password:
Use a strong 6-digit password and keep it confidential to protect your Opay account from unauthorized access.
4. Keep Your Payment PIN Private:
Your payment PIN is crucial for transactions. For added security, enable “Pay with Fingerprint” if available.
Alternatives to Transferring Money on Opay
- Opay Transfer USSD Code: Dial *955*2*Amount*10-digit account number# to send money to another bank account in Nigeria. Note that this method incurs a 10 Naira service fee from your mobile network and additional charges if you exceed the 3 free daily transfers.
- Opay Agents: Visit a nearby Opay agent in your state. Agents can assist with the transfer, though they may charge a fee.
- Third-Party Mobile Banking Apps: Use mobile banking apps from other banks, such as GTBank or Zenith Bank, to transfer money to an Opay account. These apps might also charge a fee.
FAQs
Are there fees for transferring money from Opay to a bank account?
You get 3 free daily transfers. After that, a variable fee applies depending on the amount.
What should I do if my money transfer on Opay fails?
Check for issues such as network instability, incorrect recipient details, or insufficient balance. Contact Opay support if the problem persists.
What is the daily transfer limit on Opay?
The limit depends on your account tier: Tier 1 (50,000 Naira), Tier 2 (200,000 Naira), and Tier 3 (5 million Naira).
Summary
Opay simplifies transferring money to other bank accounts in Nigeria, offering a convenient and efficient solution. You get benefits like 3 free daily transfers, cheap transaction fees and quick transfers etc.
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