When I first started my business three years ago, I was in desperate need of some working capital. As a new entrepreneur, it was difficult for me to get approved for a traditional bank loan. That’s when I came across Okash, an online peer-to-peer lending platform. I was able to get a N100,000 loan from them within a few days without any collateral. 

While Okash provided the cash flow injection my business needed, I soon realized that the interest rates on their loans were extremely high at 33% APR. Keeping up with the monthly repayments became a struggle as business wasn’t booming yet. Within 6 months, I fell behind on my payments. That’s when the calls and harassment from Okash began.

Is Okash Registered with the Central Bank of Nigeria (CBN)?

To legally operate in Nigeria, all financial institutions must be registered and licensed by the Central Bank of Nigeria (CBN). However, after doing some research, I was unable to find Okash listed on the CBN’s official website as a registered financial institution. 

While Okash claims to follow all relevant regulations, their lack of CBN registration is concerning. As an unregulated lender, they are not bound by Nigeria’s consumer protection laws. Borrowers have no proper grievance redress if they encounter issues like predatory interest rates, privacy violations, or harassment.

Without oversight from the banking regulator, there is also uncertainty regarding the security and legality of funds disbursed through Okash. Their loans technically do not qualify as lawful debt under Nigerian statutes. This makes debt collection and enforcement of contracts more problematic.

Do They Really Call Your Contacts When You Default?

One of the most troubling practices reported about Okash is their aggressive debt collection methods, especially towards defaulters. Many past customers complain that Okash frequently calls and sends messages to contacts in their phonebook, even relatives and employers, to shame and coerce repayments. 

While it’s reasonable for lenders to pursue delinquent borrowers, openly contacting third parties crosses important privacy lines. There have been documented cases where Okash shared personal financial details with references without consent. This type of public shaming disproportionately impacts vulnerable groups and can severely harm credit ratings.

As an unregulated lender, Okash is not bound by the Debt Collection Guidelines issued by the CBN in 2018. These guidelines strictly prohibit abusive practices like disclosing customer details to third parties. They also establish a standard process involving warnings and a default period before commencing legal recovery measures.

Common Issues Faced by Okash Loan Defaulters in Nigeria 

With annual interest rates over 300%, it’s no surprise that default rates on Okash loans are reportedly high. Here are some of the major problems experienced by past customers who were unable to keep up with repayments:

• Harassment via calls and messages: Being contacted multiple times daily by Okash recovery agents applying pressure tactics is a common complaint. Some have even received late night calls to themselves and references.
• Threats of legal action: Despite lacking proper registration and licensing, Okash warns defaulters of impending police reports, court cases, and even arrest – which they have no authority to pursue. 
• Sabotaging of Facebook/LinkedIn profiles: There are claims that Okash agents gain access to borrower social media profiles to post humiliating messages publicly listing their defaults and contact details. 
• Blocking access to other loans: Once labeled a defaulter with Okash, many find it incredibly difficult to get approval from other financial institutions even years later due to negative credit reports. 
• Employment termination risks: Employers have fired workers after Okash contacted and pressured them about staff loan defaults, affecting livelihoods. 

Without oversight and consumer safeguards, these predatory debt collection practices by Okash continue to severely impact the lives and livelihoods of many vulnerable Nigerians.

Should You Take an Okash Loan?

While Okash aims to provide access to credit, their extremely high-interest loans, lack of registration, and abusive collection methods towards defaulters raise many red flags. As an entrepreneur, I believe it’s best to exhaust safer options first such as

• Approach SME-friendly microfinance banks and cooperatives 
• Consider crowdfunding platforms for startup capital
• Negotiate supplier credit or factoring agreements  
• Seek financing from impact investors  
• Check eligibility for CBN intervention funds
• As last resort, get a loan from a trusted informal lender

Only if these safer alternatives are unavailable should one ever consider Okash, and only for small amounts that can be repaid on time without fail. The risks of debt bondage, privacy violations, and ruined credit simply aren’t worth it, no matter how desperate the need for cash. Let this be a cautionary lesson for all.

FAQs about Okash Loans

What should I do if Okash is harassing me after defaulting?

Document all interactions and report the platform to the appropriate authorities like the CBN Financial Consumer Protection Department and the National Human Rights Commission. You can also seek legal remedy by filing a lawsuit for damages against Okash.

How long does OKash take to process?

OKash processes loan applications in minutes. The entire process, from application to approval, is completed online and takes only a few steps.

Conclusion

While financial inclusion is important, it must be achieved through safe, transparent and lawful means. Preying on those in debt through exorbitant charges and abusive practices will only impoverish communities further. All lending platforms operating in Nigeria, including Okash, must subject themselves to proper oversight and regulation to protect consumer rights. Borrowers also need to do thorough research before taking on any loan to avoid becoming trapped in cycles of unsustainable debt. When used responsibly, digital credit certainly has potential, but safety should always come before speedy access.

 When I was a hard-working university student struggling to make ends meet between paychecks, I often found myself in need of a small cash infusion to tide me over until my next payday. Back then, the idea of being able to access an affordable loan directly from my phone with just a few taps would have been life-changing. Thankfully, fintech innovations like Okash are now making exactly that a reality for millions of Nigerians. 

In this comprehensive guide, I’ll walk you through everything you need to know to download the Okash loan app, complete the registration process, access loans via their USSD code, and get in touch with Okash customer support. By the end, you’ll have a clear understanding of how this revolutionary app is simplifying the process of getting quick, cheap funds directly to your mobile money wallet.

How to Download and Installing the Okash Loan App

The first step is downloading the Okash app directly from the Google Play Store or Apple App Store if you have an Android or iOS device respectively. Simply search for “Okash” and then tap “Install” to download the app to your phone. Once the download is complete, open the app and follow the quick registration steps.

How to Register and Identity Verification 

During registration, you’ll be asked to provide basic KYC (Know Your Customer) details like your full name, phone number, address, ID number etc. 

You’ll also need to upload clear copies of your valid government ID and a recent utility bill as proof of identity and address. This information is required by Okash to comply with anti-fraud and AML regulations. 

Once submitted, your documents will be reviewed within 1-2 business days. You’ll receive an SMS notification once your registration is approved and your Okash account is ready to use. The entire process is quite smooth and streamlined.

How to Apply for Your First Loan

With your account now live, you can check your pre-approved loan limit and terms by tapping the “Apply Now” button. Specify the exact loan amount you need within your limit, the preferred repayment tenure in weeks or months, and your preferred disbursement method. 

You have the flexibility to choose loan amounts ranging from ₦5,000 to ₦100,000 with repayment periods of 1-12 months. Funds are instantly disbursed to your linked mobile money wallet upon approval.

Okash Loan Repayment Process  

Okash loans utilize a seamless automated repayment process for convenience. On your scheduled repayment date, they’ll deduct the exact repayment amount – which includes both principal and interest – directly from your linked mobile money wallet. 

You’ll receive an SMS reminder a day before each repayment. As long as your mobile money wallet has adequate funds on the due date, repayment is done with just one click – no need for any separate transfers on your part. This makes the entire experience very hassle-free.

Okash Loan Customer Support Details

Should you need any assistance during the application or repayment process, Okash provides multiple channels to reach their customer support team

• Call their toll-free customer care number 0800-OKASH (06527) from 8AM to 8PM daily. 
• Send a WhatsApp message to 0806-636-2747. Representatives are online from 7AM to 7PM.
• Send an email to support@okash.com. Response time is within 24 hours. 
• Reach out via the in-app chat or call back request options available on the app.
• Visit one of their physical customer care branches located countrywide for face-to-face support.

Representatives are helpful, well-trained and aim to resolve all queries effectively andefficiently. Okash truly stands out for its exceptional customer experience.

How to apply for Okash Loans via USSD Code Without the App

For users without smartphones or mobile internet data, Okash also allows accessing loans directly using USSD codes on any basic phone

1. Dial *633 

2. Select “Register” and follow prompts to input basic details.

3. Complete ID verification to activate your account. 

4. Dial *633 again, select “Apply for loan”, choose amount & tenure.

5. Funds will be disbursed instantly to your linked mobile money number. 

It’s an extremely convenient option making Okash loans truly inclusive for all Nigerians.

Conclusion

Innovations like Okash are truly transforming the financial landscape in Nigeria by making accessing small-ticket, short-term digital loans completely effortless and affordable. With just a basic phone and verified mobile money account, any Nigerian can now obtain emergency funds for unforeseen expenses within minutes directly to their wallet. 

By automating the entire customer journey from application to repayment, Okash has eliminated hassles while ensuring responsible lending. It will be exciting to see how such fintech pioneers can further bridge the credit gap and financial inclusion at the grassroots level in the coming years.

FAQ

How much can I borrow from Okash for the first time?

For the first time, you can borrow between N3,000 and N10,000 from Okash. However, your ability to repay your first few loans without being disturbed increases your maximum amount limitation. 

Is Okash owned by Opay?

Okash is a microlending platform owned and operated by Opay Digital Services, which is owned by Chinese billionaire Yahui Zhou.

Do you want to upgrade your first bank account but don’t know how to do so? 

Upgrading your bank account helps unlock greater financial benefits. In this guide, we’ll see the various First Bank account upgrade options in-depth and provide a step-by-step process for both online and in-branch upgrades.

First Bank offers several personal checking and savings products targeting different customer personas:

Basic Checking Account

The basic checking account is ideal for casual bank customers who mainly require check-writing, debit card usage, and online bill pay capabilities. It has a low monthly service fee of $5, which can be waived by maintaining a $100 minimum daily balance. Interest earned on deposits is nominal at 0.01% APY. Customers receive useful tools like online banking, mobile deposits, and email balance alerts with this account.

Interest Checking Account

Targeted towards customers seeking slightly higher returns, the interest checking account pays 0.05% APY on balances up to $10,000 and 0.03% on amounts above. To avoid a $8 monthly maintenance charge, you need to maintain an average daily balance of $1500 or set up direct deposits of $500 or more each month. 

Additional perks include 0.25% cash back on debit card purchases up to $200 per month and cell phone protection when using your First debit card to pay your phone bill. 

High-Yield Savings Account 

Designed for building long-term savings, this account provides high interest rates without check-writing or debit card overdraft capabilities to protect the principal. Currently earning 0.55% APY, it allows 6 withdrawals or transfers per month before a $10 fee applies. The minimum opening deposit is $250. This is a good fit for emergency funds or saving towards large goals like a home down payment.

Taking time to understand these options can help determine which upgraded products suit your unique financial requirements. 

How to upgrade Your Account Online in Detail

Going through the online upgrade process provides a fully digital experience without visiting a branch:

1. Login to Online Banking

Sign into your First Bank account through the website or mobile app. Select “Accounts” in the main navigation to view your current accounts.

2. Choose an Upgrade Option 

Review features and benefits of the different account types displayed. For example, you may decide the interest checking account offers better returns than basic checking for your needs. 

3. Complete the Application Form

Click “Open Account” on your selected product page. Provide details such as estimated deposits/withdrawals, income sources, and contact information. Agree to receive electronic documents.

4. Transfer Funds to New Account

The system immediately opens your upgraded account. Transfer your desired opening deposit amount from an existing First Bank account. Alternatively, use an external bank’s routing/account numbers to deposit funds. 

5. Receive Activation Confirmation  

The online application is reviewed in real-time. You’ll see a confirmation page once approved. Login again to find your upgraded account listed and ready for use.

This fully-digital upgrade process offers convenience from any location without having to speak to a representative. Funds will typically be accessible within minutes for immediate use of your new features and perks.

How to Upgrade your First bank account  at a Branch in Detail  

For those wanting personalized guidance, follow these steps to upgrade in-person:

Verify Account Details

The very first thing you should do is to very all your details. 

Provide your government-issued photo ID, SSN, date of birth and current First Bank account information to be authenticated by the representative. 

Discuss Banking Needs 

Explain how you intend to use the upgraded account. Are you planning large purchases soon? How much can you deposit monthly? The rep will suggest suitable options based on your responses.

Complete Paper Applications

Sign physical forms for your selected new account. Fill out sections for personal details, expected transactions, income sources, and KYC documentation if needed.

Fund the Account & Receive Cards

Deposit funds via cash, check, transfer from your existing account or external accounts. Once processed, you’ll receive new checks and debit cards same day depending on visit time.  

Representatives can answer remaining questions about using online/mobile banking right away along with contact information for any future assistance. 

While requiring an in-person meeting, speaking with a professional can help personalize the upgrade decision based on your changing priorities over time. Feedback is also available on-the-spot to resolve queries.

Additional Upgrade Tips

Follow these best practices for your upgraded First Bank account:

• Sign up for eStatements to save paper and fees while reducing environmental impact 
• Set up direct deposit of paychecks or government benefits for waived monthly fees 
• Enable account alerts by text/email for balance updates and possible fraud warnings
• Link existing accounts for automatic external transfers between institutions
• Take advantage of any perks like cash back bonuses or travel rewards redemption 
• Consider CD rates if you have funds sitting idle for 6-12 month locking periods

Frequently Asked Questions 

How do I change my direct deposit to my new account?

Contact your employer’s payroll department with the routing and account numbers of your upgraded First Bank account. Sometimes an electronic direct deposit form can change it instantly once submitted. Allow 1-2 pay cycles for the switch to take effect fully.

What is the minimum age to open an account without a custodian?

Most need to be at least 18 years old. However, minors aged 13-17 can open their own savings account with a parent or guardian as joint owner for supervision. 

Conclusion

With two highly accessible options, upgrading your First Bank account is a simple process. Carefully choosing the right account type based on your financial objectives can amplify benefits. 

Follow the step-by-step online or in-person guidance and feel free to contact First Bank with additional queries anytime. Your new upgraded features and perks will help boost your overall banking experience! Let me know if any other questions come to mind.

What is JumiaPay?

JumiaPay is the digital payments system developed by Jumia, the largest e-commerce platform in Africa. It allows users to make secure online and in-store payments through their mobile money or bank account.

How to Sign Up for a JumiaPay Account

Signing up for JumiaPay is simple and only takes a few minutes. Here are the step-by-step instructions:

1. Go to the Jumia Nigeria website and click on the “Pay” dropdown menu or directly visit pay.jumia.com.ng.
2. Click on the “Register” button and fill in your mobile number, name, and email address.
3. Confirm your registered phone number and verify your email address.
4. You will now receive an SMS with a One-Time Password (OTP) on your phone.
5. Enter the OTP and create a password to finalize the registration process.
6. Your JumiaPay account is now ready to make payments!

How to Log In to Your JumiaPay Account

Once registered, here are the simple steps to log in to your JumiaPay account:

1. Visit pay.jumia.com.ng or open the JumiaPay mobile app.
2. Enter your registered phone number or email address.
3. Enter the password you created during sign up.
4. Click the “Login” button.
5. You will now be logged in and able to view your account details and make payments.

Managing Your JumiaPay Wallet Balance

Your JumiaPay wallet is where all your funds will be stored once you make deposits, transfers or receive money. Here’s how to manage it:

1. Go to the “Wallet” section after logging in on the website or app.
2. You can view your current balance, transaction history and other details.
3. To load your wallet, select from payment options like bank transfers or mobile money.
4. You can also withdraw money directly to your linked bank account.
5. Always maintain a minimum balance as per JumiaPay policies.

Downloading the JumiaPay Mobile App

For a more convenient payments experience on the go, you can use the JumiaPay mobile app. It is available for Android and iOS devices:

1. Open the Google Play Store (Android) or App Store (iOS).
2. Search for “JumiaPay” and download the app.
3. Sign up or log in with your JumiaPay account credentials.
4. Now you can pay merchants, transfer funds, view statements and more directly from your phone.

Accessing Loans from JumiaPay

JumiaPay loans provide instant cash advances that you can repay over time directly from your wallet balance. Here are the basic steps:

1. Have an active JumiaPay account with minimum transaction history.
2. Click on the “Loans” option and select the amount needed between ₦2,000 to ₦100,000.
3. Review the loan terms including processing fees, daily interest rates, and repayment tenure.
4. The loan amount will be credited within minutes on approval.
5. Repay in daily, weekly or monthly installments by due dates to avoid penalties.

Getting Help from JumiaPay Customer Care

For assistance with account issues, payment failures or other queries, reach out to the JumiaPay support team:

1. Submit a ticket by clicking “Help” on the site or app main menu.
2. Select the relevant issue category and add details of your problem.
3. A customer service representative will respond within 24 hours.
4. You can also call their toll-free number or WhatsApp number for quicker support.
5. Regular FAQs and tutorials are available on their social media pages too.

Key Benefits of Using JumiaPay

Here are some of the major advantages of the JumiaPay digital wallet system:

• Secure payments for online and in-store transactions
• Fast, easy and paperless way to send and receive money
• Convenient bill payments, funds transfer and cash loading options
• Access to instant cash advances and loans
• Reward points on transactions and bonuses on referrals
• 24/7 customer support via calls, chat and social media
• Works on any device with the feature-rich mobile apps

Frequently Asked Questions about JumiaPay

What is the minimum balance required to register for JumiaPay?

There is no minimum balance required to sign up for a JumiaPay account. You can register with ₦0 balance and add funds later as per your requirements.

How do I add money to my JumiaPay wallet?

You can load your JumiaPay wallet by transfering funds from your linked bank account via internet banking, mobile banking apps or at bank branches. You can also use mobile money services like Paga, Paystack and Flutterwave. Debit and credit card payments are also accepted on the website.

Conclusion

JumiaPay has emerged as the most popular digital wallet in Nigeria, making online and mobile money faster and more convenient. With features like loans, bill payments, P2P transfers and physical QR code payments, it is revolutionizing e-commerce and financial services. Take full advantage of the secure JumiaPay platform to manage all your money needs digitally in just a few taps.

If you have any other questions, feel free to leave a comment below. We will be happy to assist you further and help you start using JumiaPay today!

 

Western Union is a global money transfer service that allows you to send and receive money quickly and easily. It is one of the most popular money transfer services in the world, and it is available in over 200 countries and territories.

In Nigeria, there are a number of banks that offer Western Union services. However, not all banks are created equal. Some banks offer better rates and fees than others, and some have more convenient locations.

To help you choose the best bank for Western Union in Nigeria, we have compiled a list of the top five banks that offer Western Union services.

Top 5 beat Banks for Western Union in Nigeria

1 Guaranty Trust Bank (GTBank)

GTBank is one of the leading banks in Nigeria and offers a wide range of financial services, including Western Union money transfer. GTBank has a large network of branches across the country, making it easy for customers to access Western Union services.

To send money using Western Union at GTBank, customers can visit any GTBank branch and fill out a Western Union form. The form requires the sender’s name, address, and phone number, as well as the recipient’s name, address, and phone number. The sender must also provide the amount of money to be sent and the currency.

Once the form is completed, the sender must pay for the transaction. GTBank charges a sending fee for Western Union transactions, which varies depending on the amount of money being sent. The sender can pay for the transaction using cash, a debit card, or a credit card.

Once the transaction is paid for, the sender will receive a Money Transfer Control Number (MTCN). The MTCN is a unique number that is used to track the money transfer. The sender should provide the MTCN to the recipient so that they can collect the money.

 2. Zenith Bank

This is the second on my list. Zenith Bank is another leading bank in Nigeria that offers Western Union money transfer services. Zenith Bank has a wide network of branches across the country, making it easy for customers to access Western Union services.

To send money using Western Union at Zenith Bank, customers can visit any Zenith Bank branch and fill out a Western Union form. The form requires the sender’s name, address, and phone number, as well as the recipient’s name, address, and phone number. The sender must also provide the amount of money to be sent and the currency.

Once the form is completed, the sender must pay for the transaction. Zenith Bank charges a sending fee for Western Union transactions, which varies depending on the amount of money being sent. The sender can pay for the transaction using cash, a debit card, or a credit card.

Once the transaction is paid for, the sender will receive a Money Transfer Control Number (MTCN). The MTCN is a unique number that is used to track the money transfer. The sender should provide the MTCN to the recipient so that they can collect the money.

 3. First Bank of Nigeria

First Bank of Nigeria is one of the oldest and largest banks in Nigeria. First Bank offers a wide range of financial services, including Western Union money transfer. First Bank has a large network of branches across the country, making it easy for customers to access Western Union services.

To send money using Western Union at First Bank, customers can visit any First Bank branch and fill out a Western Union form. The form requires the sender’s name, address, and phone number, as well as the recipient’s name, address, and phone number. The sender must also provide the amount of money to be sent and the currency.

Once the form is completed, the sender must pay for the transaction. First Bank charges a sending fee for Western Union transactions, which varies depending on the amount of money being sent. The sender can pay for the transaction using cash, a debit card, or a credit card.

Once the transaction is paid for, the sender will receive a Money Transfer Control Number (MTCN). The MTCN is a unique number that is used to track the money transfer. The sender should provide the MTCN to the recipient so that they can collect the money.

 4. Access Bank

Access Bank is a leading retail bank in Nigeria that offers a wide range of financial services, including Western Union money transfer. Access Bank has a large network of branches across the country, making it easy for customers to access Western Union services.

To send money using Western Union at Access Bank, customers can visit any Access Bank branch and fill out a Western Union form. The form requires the sender’s name, address, and phone number, as well as the recipient’s name, address, and phone number. The sender must also provide the amount of money to be sent and the currency.

Once the form is completed, the sender must pay for the transaction. Access Bank charges a sending fee for Western Union transactions, which varies depending on the amount of money being sent. The sender can pay for the transaction using cash, a debit card, or a credit card.

Once the transaction is paid for, the sender will receive a Money Transfer Control Number (MTCN). The MTCN is a unique number that is used to track the money transfer. The sender should provide the MTCN to the recipient so that they can collect the money.

 5. United Bank for Africa (UBA)

UBA is a leading pan-African financial services group that offers a wide range of financial services, including Western Union money transfer. UBA has a large network of branches across Nigeria and in other African countries, making it easy for customers to access Western Union services.

To send money using Western Union at UBA, customers can visit any UBA branch and fill out a Western Union form. The form requires the sender’s name, address, and phone number, as well as the recipient’s name, address, and phone number. The sender must also provide the amount of money to be sent and the currency.

Once the form is completed, the sender must pay for the transaction. UBA charges a sending fee for Western Union transactions, which varies depending on the amount of money being sent. The sender can pay for the transaction using cash, a debit card, or a credit card.

How to Send Money Using Western Union

Sending money using Western Union is a simple and easy process. Here are the steps on how to send money using Western Union:

Step 1: Choose a bank

The first step is to choose a bank that offers Western Union services. You can use the table above to compare the rates and fees of different banks.

Step 2: Create a Western Union account

Once you have chosen a bank, you will need to create a Western Union account. You can create an account online or at a bank branch.

Step 3: Fund your Western Union account

Once you have created an account, you will need to fund your account. You can fund your account using a bank transfer, a credit card, or a debit card.

Step 4: Send money

Once your account is funded, you can send money. To send money, you will need to provide the following information:

• The recipient’s name
• The recipient’s country
• The amount of money you want to send
• The payment method

Once you have provided all of the required information, you can click the “Send” button. Your money will be sent to the recipient within minutes.

How to Receive Money Using Western Union

Receiving money using Western Union is also a simple and easy process. Here are the steps on how to receive money using Western Union:

 Step 1: Choose a bank

The first step is to choose a bank that offers Western Union services. You can use the table above to compare the rates and fees of different banks.

Step 2: Create a Western Union account

Once you have chosen a bank, you will need to create a Western Union account. You can create an account online or at a bank branch.

Step 3: Provide the sender with your information

Once you have created an account, you will need to provide the sender with your information. You will need to provide the following information:

• Your name
• Your country
• Your bank account number
• Your phone number

Step 4: Collect your money

Once the sender has sent the money, you will be able to collect it from your bank. To collect your money, you will need to provide the following information:

• The sender’s name
• The amount of money you are expecting
• Your Western Union tracking number

Once you have provided all of the required information, you will be able to collect your money.

Fees and Charges

Western Union charges a fee for sending and receiving money. The fee varies depending on the amount of money you are sending, the country you are sending it to, and the payment method you are using.

 Sending fees

The sending fee for Western Union ranges from $0 to $49.99. The fee is based on the amount of money you are sending and the country you are sending it to.

Receiving fees

The receiving fee for Western Union ranges from $0 to $10.00. The fee is based on the amount of money you are receiving and the country you are receiving it from.

Conclusion

Western Union is a fast, easy, and reliable way to send and receive money. It is available in over 200 countries and territories, and it is offered by a number of banks in Nigeria.

When choosing a bank for Western Union, it is important to compare the rates and fees of different banks. You should also consider the convenience of the bank’s locations and hours of operation. Thanks for reading! 

FAQs

Does Zenith Bank have Western Union?

Yes, Zenith Bank does have Western Union! In fact, it offers Western Union as one of the options on its International Money Transfer platform. This means you can send and receive Western Union transfers through Zenith Bank in several ways.

How much does Western Union charge to send $100?

• Online: Fees can range from $0.65 to $3.76 for bank-to-bank transfers and slightly higher for cash pickup.
• Mobile app: Similar fees apply as for online transfers.
• In-branch: Fees tend to be higher than online or mobile options, typically starting around $5.

Can I receive dollars in my OPay account?

Yes, you can actually receive dollars directly into your OPay account! This is thanks to their partnership with WorldRemit, a leading global money transfer service. Here’s how it works:

• Your our friend or family member abroad can send you money through WorldRemit’s website or app. They’ll need to choose Nigeria as the destination country and select “OPay wallet” as the payout method.
• You’ll need to share your OPay phone number with the sender. This ensures the money gets sent directly to your account.
• Once the transfer is complete, the dollar amount will be converted to Naira and credited to your OPay wallet instantly. You’ll receive a notification on your phone app.

Have you forgotten your Wema bank Password or pin? Ha, don’t worry because no one is above forgetting. You can’t lose any amount in your bank, just make sure that you read this article to the very end. Do you understand? 

If so let’s get started. 

 What is an Alat by Wema Password?

Your password is the primary security key that allows you to access your Alat by Wema account through the app or online portal. It’s typically a combination of letters, numbers, and symbols that you create during the account registration process.

What is an Alat by Wema PIN?

Your PIN is a four-digit code used to confirm transactions within the ALAT app. It’s an additional layer of security that helps protect your account from unauthorized access.

How to Reset your Alat by Wema password through the ALAT app

• Open the ALAT app on your mobile device.
• Tap on “Forgot Password?” located beneath the login area.
• Enter your registered email address or username.
• Click “Next.”
• You will receive a verification code on your registered email address or phone number.
• Enter the verification code in the app.
• Create a new password that meets the required security criteria.
• Confirm your new password by typing it again.
• Tap “Reset Password.”

How to Reset your Alat by Wema password through the online portal

 If you don’t have access to your phone or prefer using the online portal, follow these steps:

• Visit the ALAT by Wema online portal
• Click on “Forgot Password?” on the login page.
• Enter your registered email address or username.
• Click “Next.”
• Follow steps 5-9 from the app reset process outlined above.

How to Change Your Alat by Wema Password

You can also change your Alat by Wema password through the app or the website.

• Open the ALAT app.
• Click on “Settings.”
• Tap on “Login & Security.”
• Click on “Change Password.”
• Enter your current password.
• Enter your new password twice.
• Click “Change Password.”

How to Recover Your Alat by Wema PIN

If you forget your Alat by Wema PIN, you can recover it using the app.

• Open the ALAT app.
• Click on “Settings.”
• Tap on “ALAT PIN Management.”
• Click on “Forgot ALAT PIN.”
• Enter the answer to your security question.
• Check your email for a One-Time Password (OTP).
• Enter the OTP in the app.
• Enter your new PIN twice.
• Click “Reset PIN.”

Additional Tips

• Use strong passwords and PINs. Avoid using easily guessable information, such as your birthday or phone number.
• Enable two-factor authentication. This adds an extra layer of security by requiring a code from your phone in addition to your password when you log in.
• Regularly update your password and PIN. It’s a good practice to change your password and PIN every few months.
• Avoid sharing your login credentials with anyone. This includes family members and friends.
• Contact Wema Bank customer support for further assistance. If you’re having trouble resetting, changing, or recovering your Alat by Wema password and PIN, you can always contact Wema Bank customer support for assistance.

Conclusion

By following the simple steps outlined in this guide, you can easily reset, change, or recover your Alat by Wema password and PIN. Remember to take proactive steps to protect your account by using strong passwords and PINs, enabling two-factor authentication, and regularly updating your login credentials. With these simple measures, you can enjoy the convenience and security of Alat by Wema.

FAQs

What is the USSD code for Alat?

The USSD code for Alat is *945#. This code works for everyone, but to access all the features, you’ll need to have an active account with Wema Bank (which owns Alat) and register the code on your phone.

How do I verify my Wema account?

• Download the ALAT app: If you haven’t already, download the ALAT app from the Google Play Store or Apple App Store.
• Open the app and click “Get Started”: Follow the on-screen prompts to choose your preferred language and enter your phone number.
• Verify your phone number: You’ll receive an SMS with a one-time password (OTP). Enter the OTP in the app to verify your phone number.
• Create your ALAT account: Enter your desired username, password, and email address.
• Complete KYC (Know Your Customer) verification: This typically involves providing your BVN (Bank Verification Number) and other personal information. You might need to upload scanned copies of your ID documents.
• Fund your account: Once your account is verified, you can fund it using various methods like bank transfer, debit card, or mobile money.

Can I link my BVN to my account online?

Unfortunately, Wema Bank doesn’t currently allow linking your BVN to your account directly through their online platform.