First Bank Internet Banking Transfer Limit & How to increase

First Bank Internet Banking Transfer limit

The First Bank internet banking feature, available through their mobile app, includes a ‘Transfer’ option. This feature has limits called Transfer Limits, which set the maximum amount of money you can transfer in a day.

Recently, First Bank increased this daily transfer limit from N500,000 to N1,000,000. This boost was made to make banking easier for customers by allowing them to transfer more money within a day.

However, the specific transfer limit on your account depends on the type of account you have. For instance, if you have a student account, the limit for the amount you can transfer might be different from other account types.

All of those details will be discussed shortly in this outline.

Daily Transfer Limit for First Bank Savings Account

The daily transfer limit for a First Bank savings account relies on the type of savings account you have. There are two main categories: one for students and the other for standard savings accounts.

  • For Student Savings Accounts: The daily transfer limit is set at N100,000.
  • For Standard Savings Accounts: Both student and standard savings accounts have the same daily transfer limit of N100,000.

However, for online transfers using the First Bank mobile app, customers with standard savings accounts have a higher limit. Recently, this limit was increased from N500,000 to N1,000,000 for these accounts, allowing for larger transfers online.

Transfer Limit for First Bank Student account

The transfer limit for first bank student account is a financial ceiling that you cannot pass. If you are with a student account, you wouldn’t be able to transfer more than hundred thousand naira (N100,000) in a day. Any trial of a further transfer would lead to failed transactions.

However, if you wish to have your account upgraded to the standard version, head over to the bank branch that is closest to you. The customer service staff would be very happy to respond to you.

How to Increase First Bank Daily Transfer Limit

To raise your First Bank daily transfer limit, you should visit the nearest First Bank branch. Remember to take your debit card and any identification or documents verifying your account ownership.

Normally, the bank can help boost your First Bank daily transfer limit to as high as N5,000,000 for active account holders. However, through the First Bank mobile app, you can transfer up to N1,000,000, which is an increase from the previous limit of N500,000. This enhancement in e-banking convenience applies to users with standard accounts.

However, it’s important to note that the student account type cannot accommodate such high transfer amounts due to its limitations. Hence, these higher-value transfers are feasible only for those using standard accounts.


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How to increase transaction limit on first bank app

To increase the daily transaction Limit on FirstMobile app, click on self-service then Limit Management.

Why is First Bank asking me for a token?

First Bank asks for a token to enhance the security of its customers’ online banking transactions. The token adds an extra layer of security by generating unique codes for each transaction, thereby reducing the risk of unauthorized access and fraud.

How can I get my token code from First Bank?

To obtain your token code from First Bank, follow these steps:

  1. Ensure that the mobile number linked to your account is accessible.
  2. Dial *322*0# on your mobile phone.
  3. Wait for the one-time password (OTP) to be generated and sent to the mobile number associated with your account.
  4. Use the OTP received to complete your online transaction securely.

These steps will enable you to generate a token code for your online transactions with First Bank.

How do I transfer money from First Bank?

To transfer money from First Bank, follow these steps:

  1. Dial *894*Amount*Account Number# on your mobile phone.
  2. Select the beneficiary’s bank.
  3. Confirm the amount, beneficiary name, and enter your five-digit PIN.
  4. Choose the account from which you want to debit the funds.

For airtime recharge:

  • Dial *894*Amount# to recharge for yourself.
  • Dial *894*Amount*Phone Number# to recharge for others.

Enter your five-digit PIN to confirm the transaction.

What is the USSD for First Bank?

The USSD for First Bank is *894#. This USSD Banking Service allows customers to perform various banking transactions using their mobile phones. These transactions include funds transfers, airtime top-up, balance inquiries, mini statements, bill payments, account opening, corporate collections etc.

How do I get my 5 digit PIN for my First Bank transfer?

To get your 5-digit PIN for First Bank transfer, follow these steps:

  1. Dial *894*0# from the mobile number linked to your account.
  2. You’ll see a list of masked debit card numbers linked to your account.
  3. Choose your preferred debit card from the list.
  4. Enter the 4-digit Personal Identification Number (PIN) for the selected debit card.
  5. Create a new 5-digit PIN when prompted.

This process will enable you to set up your new 5-digit PIN for transfers.

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