Access Bank is a Nigerian financial services conglomerate with offices and subsidiaries throughout Sub-Saharan Africa and the United Kingdom. Among its many initiatives, Access Bank has become a client of the FMO, the leading sustainability institute. It is a member of the E&S category A and is actively involved in sectors where there are major environmental, social and economic impacts. The bank also strives to ensure its clients' operations are sustainable by implementing sustainable business practices and ensuring their employees are healthy and safe. By adopting the sustainable business practices, the bank is helping its customers access more. This commercial bank is owned by the Access Banking Group and licensed by the CentralBank of Nigeria. Its main purpose is to provide affordable and reliable banking solutions to consumers. The bank's primary business is providing financial services to consumers and businesses.
Access Bank Year Established |
1989 |
Access Bank International Clients |
Access Bank accepts international clients. |
Access Bank Age requirement |
18 years |
Access Bank Currencies Offered |
13 online |
Access Bank Minimum Transfer |
3000 N |
Access Bank Transfer Fees |
3%-4% |
Access Bank Office Locations |
Headquarters in US, with subsidiary offices and certified agents literally across the globe. |
Access Bank Employees |
28121 |
Access Bank Turnover |
411,300,000 USD |
Access Bank Regulation |
Financial Conduct Authority (FCA) |
Access Bank Fees |
Access Bank transfer fees are 3%-4%. Fees with Access Bank may vary per transfer, depending on method of sending, currencies and amount. Based on World Bank statistics, the fixed fee can be as high as 19 Pounds for 120 Pound transfer to Ethiopia (source). Additionally to the fixed fees taken by Access Bank, the World Bank Statistics reveal that an additional markup of between 1 and 4 per cent is incurred. |
Access Bank Client Rating |
Access Bank has a rating of 3. |
Number of Access Bank customers |
40,000,000 |
Access Bank Website |
|
Access Bank Supported Languages |
Month | Savings |
---|---|
January | $100 |
February | $80 |
Most of the time money transfers with Access Bank will be smooth. Each money transfer service have their own benefits and isses, so always weigh the pros and cons of sending money with Access Bank money prior to submitting an application to Access Bank.
Can you easily afford the Access Bank fees, are the exchange rate costs reasonable with Access Bank?
Access Bank is a financial service company, that offers its clients money transfer services.
Access Bank was founded in 1989 by Herbert Wigwe and has offices in Lagos, Nigeria.
Access Bank provides money transfer services to its 40,000,000 customers who are from all over the world including worldwide.
The Lagos, Nigeria Access Bank business was founded in 1989 to deliver money orders locally and internationally.
Money transfer businesses, or other financial corporations use EFT (electronic funds transfer) to send money across distances, large or small. That is to say that it is not actual money being sent, it is rather data that represents the amount being sent that the recipient can withdraw whenever they wish.
Access Bank is among the most recognized and reputable money transfer platforms. It has an exceptional track record and offers reasonable rates.
Access Bank was established in 1989 in Lagos, Nigeria, and has been in operation for around 35 years Access Bank have a head office in Lagos, Nigeria.
Access Bank money transfer exchange rates are quite minimal compared to banks and other money transfer providers. A minimal percentage is charged on top of the exchange rate as standard practice. Access Bank only charges 3%-4%, when compared to other money transfer service providers.
The maximum transfer amount with Access Bank is up to 100000 N/transaction, 1M N/day (or its currency equivalent) online.
While Access Bank charges a small percent of transfer fees, the brand offers reasonable exchange rates.
When transferring money with Access Bank, it is crucial to keep tabs on the following:
Any taxes or charges are payable in the destination country. costs may exist that are not paid through Access Bank or imposed by Access Bank. Your Access Bank money transfer transaction may be cancelled if it is demmed to be connected with prohibited activities including all applicable laws regarding anti money laundering or counter terrorism financing laws. or the transaction is actioned through unauthorised use of your Access Bank account.
Several money transfer platforms like Access Bank charge money for every money transfer a customer makes through their platforms. Other than that, every time an individual exchanges money from one particular currency to another, the money transfer operator in this case Access Bank may charge for a currency exchange.
A transfer fee is the sum of money that a money transfer operator like Access Bank charges a customer for transferring money to a recipient. The amount charged depends on the operator charging it.
Exchange rate margins are how Access Bank, banks and other financial corporations make profit off their services instead of charging customers with commission fees.
When a bank or a money transfer service like Access Bank quotes an exchange rate to a customer, they usually take the interbank rate and add an amount known as a margin rate. Check with Access Bank to see what their exchange rate margin is.
A Access Bank fund transfer is when someone sends money from their account to another person's account. Money can be transferred using different methods, e.g. online, via the phone, or a mobile app.
The methods to transfer funds are:
Access Bank enables users to transfer money using bank transfer, via none.
Money transfer operators that offer more currency options are beneficial because they make for reduced conversion fees. This way customers do not have to pay exorbitant conversion fees when transferring money.
Access Bank offers every available world currency to its customers. We list the major Access Bank supported currencies below.
Access Bank offers the following transfer options:
’Single payments’ is a term used to recognize a one-time money amount from an allowance. For a single payment, the user may use a single credit card (or debit card) and have a single invoice.
A regular payment is a highly economical and easy way to transfer money with Access Bank. It is best suited for customers who have to transfer regular smaller amounts (usually three, four, or smaller five-digit amounts).
Access Bank offers services for sixty different currencies across more than one-seventy countries.
The more global a money transfer operator becomes, the more reliable it is for people across the globe.
Access Bank does not operate in the following countries :
Certain countries are restricted because Access Bank is not allowed to legally operate in those regions or it is not economically viable for Access Bank to provide money services in these regions.
An International Transfer is when someone sends money from their account in one country to a bank account in another country.
Setting up your Access Bank money transfer is quick and simple with the modern Access Bank online platform.
Transferring money internationally used to be a tedious process 10 years ago but advances in software and the internet have made transferring money allot easier.
These days, you can send a money transfer with ease on the Access Bank website.
The Access Bank website includes useful and easy-to-access option for those who wish to track their money and monitor when it can be received, providing a safe and accessible option if you'd like to keep an eye on your transfer.
Several money transfer companies do not have a minimum money transfer amount. Making it easy for their users to send small amounts of money. Access Bank has a minimum transfer amount of 3000 N.
Money transfer companies often do not have maximum transfer limits. For example, Access Bank does not have a maximum transfer limit when the user is paying through phone. There is however, a 100000 N/transaction, 1M N/day limit per transaction for online transfers.
These are the fees charged by Access Bank and other money transfer companies (or other financial corporations) for transferring money. Several companies however, do not charge their users for transferring money. The only charges there are to pay are currency conversion charges.
Access Bank money transfers do not usually take very long. It normally takes less than 24 hours for a money transfer to complete between two accounts with the same financial corporation. While in the case of money transfers with money transfer services like Access Bank, it can take a little as a few minutes. If the money is being sent overseas, it can take up to five days for the recipient to receive the money from Access Bank.
If a company has the acronym PLC at the end of its name, it means that the business offers its shares to the public and is traded on a public stock exchange. This alone makes the company more reputable. Access Bank is not a publically listed company. Access Bank is a privately owned company.
The charges for issuing money orders with Access Bank are 3%-4%.
Access Bank offers mobile top ups.Access Bank mobile top ups are where a user can add credit to a recipient’s mobile phone number. The recipients number has to be local. These are normally processed within minutes, if not seconds.
Some money transfer companies offer COVID-19 financial assistance. This may be in many forms including payment holidays, reduced interest rates and more options to pay. Check with Access Bank directly to see what they are able to offer if you are adversely affected by COVID-19.
There may be many reasons you are looking to action a money transfer with Access Bank. These reasons can include debt consolidation, medical bills, student debt, collection agency debt, wedding costs, holidays, home repairs and repaying friends and family.
Access Bank money transfers are best for people looking for looking for a reliable fast money transfer service.
For Access Bank to be able to process your money transfer application as quickly as possible make sure you have everything Access Bank need. If you and Access Bank need to go back and forth it may delay the Access Bank application process. Make sure every piece of information you give Access Bank is accurate.
Please note that you must have at least a minimum of one active bank account for Access Bank to process your money transfer.
Application time refers to the amount of time you have to wait for your Access Bank registration to be approved. This should not take long, especially if you have nothing which should come up as red flag on the Access Bank system.
It is the time it takes for Access Bank money transfer operator to approve the money transfer being made. Depending on the situation this can take up to five days.
It is the amount of time it takes for the recipient to receive the money transfer. Once your Access Bank money transfer has been approved the money should be in your account within four working days.
Why more features are useful for modern life’s and why new challenger banks are starting to beat traditional banks.
Here are a number of important things to consider before considering Access Bank money transfer:
Access Bank support should be there to help customers with their issues which includes answering their queries, guiding them through and difficult processes and issues when transferring money. Access Bank customer support should troubleshoot any issues with you until you get to a resolution that you are happy with.
When getting a Access Bank money transfer you will want to speak to a Access Bank representative in a language that you are comfortable with. All your Money Transfer queries and issues should be resolved quickly.
Customers can reach out to Access Bank through live chat to resolve Access Bank money transfer account issues or difficulties with their Access Bank account that they can't solve. Live chat, or live support is a real-time live chat feature used by customer support representitives allowing customers to instant message to and receive guidance from a trained agent regarding a your money transfer related query.
When deciding upon a money transfer company like Access Bank you will want to know how Access Bank compares with other leading online money transfer companies. See how Access Bank compares below.
Used By: 280000000
Currencies Available: 76
Transfer Fees: none
Payment Methods: Bank transfer, credit card, debit card
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: US$1.00
Max Transfer: US$500,000.00 (or equivalent)
Year Founded: 1993
Used By: 11000000
Currencies Available: 54
Transfer Fees: 0.5%-1%
Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: 1 USD
Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
Year Founded: 2011
Used By: 3000000
Currencies Available: 63
Transfer Fees: 0-3.99$
Payment Methods: Bank transfer, credit/debit card
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: US$1.00
Max Transfer: US$20,000.00
Year Founded: 2011
Used By: 11000000
Currencies Available: 54
Transfer Fees: 0.5%-1%
Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: US$1.00
Max Transfer: US$1,000,000 (varies based on currency)
Year Founded: 2011
Used By: 150,000
Currencies Available: 17
Transfer Fees: 0.45%
Payment Methods: Bank transfer, debit card
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: £5.00 (or equivalent)
Max Transfer: £10,000,000.00 (or equivalent)
Year Founded: 2009
Used By: 11000000
Currencies Available: 55
Transfer Fees: 0.5%-1%
Payment Methods: Bank transfer, debit card, credit card, SOFORT transfer
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: 1 USD
Max Transfer: 1000000 USD/transaction/day (personal), 3000000 USD/transaction/day (business)
Year Founded: 2011
Used By: 130000000
Currencies Available: 11
Transfer Fees: 0%-1%
Payment Methods: bank transfer, POLi payment (Australia), debit card (EU residents), ACH Pull (US residents), FPX (Malaysian residents)
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: $1 (minimum sending amounts could differ based on certain currency pairs)
Max Transfer: No limit (different countries have regulatory limits on outward and inward flow of remittances originating from or to the country)
Year Founded: 2014
Used By: 25,000,000
Currencies Available: 23
Transfer Fees: none
Payment Methods: Bank transfer, debit card, credit card, apple pay, google pay, Scotiabank Saddletone gift cards
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: none
Max Transfer: 10000 USD
Year Founded: 1832
Used By: 120,000
Currencies Available: 33
Transfer Fees: none
Payment Methods: Cash, bank transfer, debit card, credit card, e-wallet, cryptocurrency (depending on country)
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: US$1.00 (varies based on certain currencies)
Max Transfer: US$2,500.00 / day (weekly and monthly limites also apply)
Year Founded: 2001
Used By: 150000000
Currencies Available: 46
Transfer Fees: 0-1.99$
Payment Methods: pay by card or directly from your bank account
iOS App : yes, Android App : yes
LiveChat:
Min Transfer: none
Max Transfer: 3000 USD
Year Founded: 1940
Used By: 250000000
Currencies Available: 4
Transfer Fees: 0$-40$
Payment Methods: Bank transfer, debit/credit card, PayPal balance
iOS App : yes, Android App : yes
LiveChat: yes
Min Transfer: US$10.00
Max Transfer: 2999 USD/day, 6000 USD/month, 9999 USD/3 months
Year Founded: 2001
Access Bank has a website available online but it may be useful to manage your Access Bank account from your mobile device like your tablet or phone.
Access Bank offers an Android mobile application on the Google Play store.
Access Bank offers an Apple IOS mobile application for iPhones and iPads allowing Access Bank to users to check their Access Bank accounts on their iOS mobile devices.
Access Bank offers the following Money Transfer payment methods: debit card, bank transfer, prepaid cards. All of significant bank systems are all acknowledged with Access Bank.
Access Bank offers ACH Payment which is used for direct deposit and debit transfers within the US. It is similar in nature to BACS (for the UK) and EFT (for Canada). Users can pay through bank transfer.
The recipient will receive the money in their bank account and can withdraw it using the method they prefer. They cannot, however, receive the money in the form of cash.
Take note that Access Bank may charge additional commissions and fees when using certain payment and withdrawal methods. These fees may not necessarily come from Access Bank.
Access Bank is a reliable, secure, and trusted option for sending money overseas. Access Bank are registered and regulated with the Financial Conduct Authority (FCA).These regulatory licenses have strict rules that are enforced. These regulations safeguard the funds entrusted to them by Access Bank customers.
Every business that wants to send money across borders (in excess of €3 million per month) must be licenced under the Payment Services Regulations 2017 and the Electronic Money Regulations 2011, both of which were created by the UK government but executed by the FCA for UK residents.
Consumer credit, in simple terms, is credit offered to individuals so they can purchase goods or cover personal expenses. It does not cover long term investments such as purchasing property. It allows for a properly managed economy to function and further encourages economic growth.
Firms like Access Bank that offer money transfer to retail customers are legally considered to be offering consumer credit.
A financial regulator ensures that consumers are protected, there is fair competition in the money transfer industry and the integrity of the Financial services industry as a whole is maintained.
Getting a money transfer with a regulated company is essential as it offers an increased level of protection than a money transfer from an unregulated one. This is because regulators are able to enforce strict rules and stop unscrupulous money transfer operators.
Laws differ on who can and cannot offer consumer credit in each country. Credit firms have strict rules that they must follow in order that they are legally allowed to transfer money to consumers. These laws are in place to protect consumers becoming trapped in a money transfer they can never pay off.
Be sure that Access Bank is fully licenced as a money transfer company.
The Payment Services Regulations Directive, is run by the European Commission in order to govern payment services and their providers across the European Union as well as the European Economic Area.
One of its goals has been to make foreign currency transactions transparent, much like currency payments. This is to protect consumers and businesses from being swindled.
The FCA is a control body meant to license money transfer companies. Companies such as banks, Forex brokers, and money transfer operators are monitored the most. This is because they deal in situations that involve many intricacies, such as transferring money and offering loans, etc.
All reputable money transfer businesses that operate within the United Kingdom by law have to be registered and authorised as a payment institution by the Financial Conduct Authority (FCA) to comply with the Payment Services Regulations that were introduced in 2017.
Check Access Bank is financially regulated. Access Bank is regulated by the Financial Conduct Authority (FCA).
This makes sure that your Money Transfer agreement is above board and safe. In Addition, it Usually Means that Access Bank Possess a responsibility of care to their clients.
Financial institutions (which do not classify as banks) which convert and transmit money like Access Bank are known as Money Service Businesses. While they provide services similar to banks, they are still not considered banks. They offer more varied product options to individuals looking to transmit or convert money.
Financial authorities tend to keep tabs on Access Bank and other Money Service Businesses the most because the type of services they offer can leave them vulnerable to be used in financial crimes like money laundering. This is why it is crucial for them to be registered with the HM Revenue and Customs in the United Kingdom.
Access Bank as part of their regulation are required to segregate client funds from Access Bank company funds and keep all client funds within a bank that is authorised as a credit institution by the regulator. All client funds should be kept in the most reputable third-party financial institutions such as Barclays or the Bank of America.
Access Bank regulatory requirements mean that Access Bank Money Transfer funds and your funds should be totally separate. Access Bank cannot use any money that is still legally yours to conduct Access Bank daily business like paying Access Bank suppliers and costs. Your funds should be kept by Access Bank in a segregated bank account.
Fraud prevention is highly crucial when transferring money because once the money is gone, it's gone. Scammers most often gravitate towards money transfers. Lack of fraud prevention procedures can lead to loss of funds, or even identity theft.
Access Bank goes to great lengths to protect your Access Bank account from fraudulent use. We explain some of Access Bank anti-fraud features below:
Having instant notifications turned on is not only convenient because the user is instantly alerted whenever there is a payment related activity on their Access Bank account, as you are instantly aware of every Access Bank transaction these notifications to your phone help you to keep tabs on any suspicious activity.
After conducting a transaction with Access Bank, the Access Bank accounts primary contact will receive a transaction confirmation confirming the transaction amount, rate exchange applied, and Access Bank delivery instructions.
Access Bank has systems and controls in place to detect fraudulent activity and protect Access Bank client accounts from misuse. If Access Bank detect a questionable transaction on your Access Bank account, Access Bank will contact you to verify the transactions legitimacy to ensure your Access Bank funds are safe.
Access Bank and other money transfer companies often charge their customers a certain amount of interest fees on every transaction made. The fees depend on the amount of money the customer wishes to transfer. Access Bank also earn money via foreign exchange rates.
Money transfer companies like Access Bank and banks need to survive, so they make money on interest from accounts and money transfers.
We list some of the most frequently asked Access Bank questions below.
You can transfer up to 100000 N/transaction, 1M N/day at a time.
It normally takes 3-5 business days.
If you need to cancel your transaction due to any reason, kindly contact us on this number 234 1- 2712005-7.
To signup to a Access Bank account you will need to be at least 18 years old.
Access Bank have been in operation since 1989 and have over 40,000,000 customers and 28121 employees. Access Bank is not a scam.
Sending money with Access Bank is a single process once you have registered and verified your Access Bank account and payment methods.
Depending on where you are located, you have a few options for how you can receive any money that has been sent to your Access Bank account. Your options for receiving money depend on the information entered by the sender, the country you are in, the currency you are receiving, and some other factors. Some methods of receiving money may not be available to you.
Bank transfers are useful because not only are they safe, but the whole process is quick, and they offer the kind of flexibility no other method can. Access Bank allows for a deposit directly into your bank, credit union or other financial account.
Some money transfer companies have agents around the world, and you will need to take identity documents to receive cash. Money is typically available within ten minutes of being sent. Access Bank allows you to pick up money in person at a Access Bank agent location.
A mobile wallet virtually stores cash card details on a smartphone. These are quite convenient as they allow for users to make purchases at physical stores without needing to carry money.
Access Bank Does not support mobile wallets.
It is a way for an individual to receive money without having to leave home. What this means is that any money you send can be received in person at a designated home address. The money is delivered by a local agent. Access Bank do not offer home delivery money transfers.
Access Bank was founded in 1989.
Access Bank have a rating of 3 and are financially regulated, Access Bank can be considered a good money transfer company.
Its is easy to close you Access Bank account. You will have to make sure any outstanding payments and fees due to Access Bank are paid in full Before Access Bank will fully close your account. Make sure when closing your account Access Bank send you an official confirmation that your account is closed and no more monies are due to Access Bank.
No, setting up a Access Bank account can take a few minutes. You will need to provide some proof of identity and address. You should definitely be able to access all the features of your Access Bank account in 1-3 days.
Access Bank are based in Lagos, Nigeria
Countries where Access Bank is legal?Access Bank is legally allowed to operate in over 4 countries.
You can track a Access Bank money order by calling Access Bank or by tracking the order online. Call Access Bank number on 234 1- 2712005-7. The Access Bank automated phone system will take a few details and give you a status update. You can go online to the Access Bank website and check the status of a money transfer at any time.
If you have a Access Bank online account, log in and view your transaction history; If you do not have an online account, or if you are the receiver of the Access Bank transaction, use the Access Bank payment reference number on the Access Bank website to check the status of the transfer.
The way that you cancel a Access Bank transfer depends on how you created and sent the Access Bank money transfer originally.
You may need to contact Access Bank by phone on 234 1- 2712005-7, through their website at www.grobank.co.za or via email [email protected]. Requests are typically processed within 30 days, and you may be charged a cancellation fee by Access Bank.
If you made the Access Bank transfer online, then you should log in, find the transaction in your transaction history and then cancel it on the 'Transaction Details' page. If you do not have a Access Bank account, use the 'Track a Transfer tool to find the transaction and then cancel it on the Transaction Details page.
Double check the terms and conditions for cancelling a Access Bank transfer on their website.
If Access Bank isnt quite what you are looking for you can check out some of the best Access Bank alternatives below.
If you would like to see Access Bank compared against some of the best Access Bank alternatives available right now you can do so by clicking on the links below.