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Nigeria Bank Transfer

Fees

When you deposit by Nigeria bank transfer there's a  1.4% fee (max 2,000  NGN) charged by our payments partner. Your deposit is converted to dollars at the current Dollar/Naira conversion rate when received. Passfolio then charges a 0.5% fee on the dollars and credits the balance to your account.


Deposit information

Deposit information is available in the Deposit section of your Account menu. Please follow these steps:

1. Go to "Transfer";

2. Then "Deposits" 

3. Choose which account you want to deposit to: stocks or crypto;

4. Choose Bank Transfer (Nigeria);

5. Copy the information in your bank’s mobile app or desktop and finish the deposit!


Limits and minimums

You can start investing with as little as US$1!* Regarding limits, every country is unique and there might be limits imposed by regulation. We recommend you become educated on your country’s regulations about sending money overseas before depositing considerable amounts.


*Please see our Fractional Shares Disclosure


Time to reach your account

The estimated time for the money to reach your account is typically between 10-30 minutes when the deposit is made Monday through Friday (except holidays) between 7am to 12:30pm PST. There can still be bank delays but we will be crediting deposits ASAP.


Holding period

There is no holding period for funds deposited by Nigeria bank transfer.


Currency exchange

Naira are converted at the rate when received.


Problems with your deposit

There may be problems with your deposit if you provide erroneous information when transferring, such as:

1. Wrong bank account number

2. Wrong account number

Also, deposits must be made from an individual account registered to your name. If your deposit is not made from an individual bank account in your name, your money will be transferred back to your bank account with potential bank fees charged. 

To prevent problems, we recommend you confirm that your Passfolio account name and bank account name are the same.. You can also always reach us at support@passfolio.us if you have any questions after submitting your transfer.

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