Guide on How to transfer money from Polaris Bank

Polaris Bank is a leading financial institution in Nigeria that offers a wide range of services to its customers, including money transfers. The bank’s money transfer service allows customers to send and receive money quickly, securely, and conveniently, both within Nigeria and to other countries around the world.

Transferring money is a common necessity in today’s fast-paced world, and Polaris Bank offers various convenient options for its customers to securely send funds.

One of the key advantages of using Polaris Bank for money transfers is the safety and security of the transactions. The bank employs cutting-edge technology and robust security measures to ensure that customers’ funds are protected against fraud and unauthorized access.

In this article, we will guide you through the process on how to transfer money from Polaris bank and ifferent methods that is available.

Pay Attention: How to check Polaris Bank account balance

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Features:
- Instant transfers between Polaris Bank accounts.
- Transfer funds to accounts in other Nigerian banks.
- Set up future-dated or recurring transfers for added convenience.
- Create and manage a list of frequent recipients for faster transfers.
- Track your transfer history and view details of past transactions.
- Receive instant SMS or in-app notifications for successful transfers.
Benefits:
- Transfer money anytime, anywhere, through various channels.
- Enjoy fast and often instant transfers, particularly within Polaris Bank.
- Robust security measures protect your transactions.
- Choose from various transfer options based on your needs and preferences.
- The mobile app and internet banking platform offer intuitive interfaces.
- Competitive transfer fees.

History Polaris Bank

Polaris Bank is one of the leading financial institutions in Nigeria with a rich history that dates back to over five decades. The bank was originally established in 1989 as Prudent Bank before being acquired by Skye Bank in 2006. In 2018, the Central Bank of Nigeria revoked Skye Bank’s license due to liquidity challenges and Polaris Bank was established as a bridge bank to assume the assets and liabilities of Skye Bank. This move was critical in maintaining stability in the banking sector and ensuring the protection of depositors’ funds.

Since its inception, Polaris Bank has focused on providing innovative banking solutions to its customers, catering to both retail and corporate clients. The bank offers a wide range of financial products and services including savings accounts, loans, investments, and advisory services.

Read; Guide on How to Transfer Money From FCMB

Polaris Bank has also been at the forefront of digital transformation, leveraging technology to enhance customer experience and streamline operations. With a network of branches and ATMs across Nigeria, the Bank has become a trusted financial partner for millions of Nigerians.

Over the years, Polaris Bank has received several awards and accolades for its commitment to excellence in banking and financial services. The bank has been recognized for its financial inclusion initiatives, corporate governance practices, and digital innovation. With a strong focus on sustainability and community development,

Pay attention: How to block Polaris bank ATM Card and account

What is Polaris bank money transfer

Polaris Bank money transfer is a service provided by Polaris Bank that allows individuals to send and receive money electronically. This service offers a convenient and secure way for customers to transfer funds to friends, family, or business associates. The money transfer can be done through various channels such as online banking platforms, mobile banking apps, ATMs, or through the bank’s branch network.

How to register for Polaris bank ussd

You already have a Polaris Bank account and a registered mobile number:

*Dial *833# from the phone number linked to your Polaris Bank account.
Follow the prompts: You will be asked to enter your account number.
Create a PIN: Enter any 4-digit number to be used as your PIN.
Balance Display: Once you’ve successfully created your PIN, your account balance will be displayed, confirming your registration for *833# Smart Banking.

How to transfer money Using Polaris bank USSD Code

You can easily transfer money to both Polaris Bank and other banks using the Polaris Bank USSD code (*833#). Here’s how

Transfer to Polaris Bank Account:

Dial *833*Amount*Account Number# from your registered phone number. (For example, to transfer ₦5,000 to account number 1234567890, dial *833*5000*1234567890#)
Select the account you want to debit from.
Enter your 4-digit PIN to authorize the transaction.
You’ll receive a confirmation message if the transfer is successful.

Transfer to Other Banks:

Dial *833# and select option 3 (Transfers) or dial *833*3#.
Select the account you want to debit from.
Select the recipient’s bank.
Enter the recipient’s account number.
Enter the amount you want to transfer.
Verify the account name displayed on the screen
Enter your 4-digit PIN to authorize the transaction
You’ll receive a confirmation message if the transfer is successful.

How to Transfer Money Using Polaris Bank Vulte App

To transfer money using the Polaris Bank Vulte app, follow these steps:

Open the Polaris Bank mobile Vulte and log in using your credentials.
On the app’s home screen, locate and select the “Transfers” option.
Select the type of transfer you want to make. You can choose between:
- Transfer to own account
- Transfer to other Polaris accounts
- Transfer to other banks
Choose the account you want to transfer funds from.
Provide the recipient’s account number and bank name (if transferring to another bank).
Input the amount of money you wish to transfer.
Double-check all the details entered to ensure accuracy.
Enter your transaction PIN or complete any required authentication steps.
You will receive a confirmation message once the transfer is successful.

Read: Polaris bank ussd: How to register and transfer money

How to Transfer Money Using Polaris internet Banking

To transfer money using Polaris Bank’s internet banking platform, follow these steps::

Access the Polaris Bank internet banking platform ([invalid URL removed]) and log in using your user ID and password.
Once logged in, locate the “Payments and Transfers” section in the main menu.
Under “Payments and Transfers,” click on the “Fund Transfer” option.
Select the type of transfer you want to make. You can choose between:
- Own Account Transfer (transfer between your own Polaris Bank accounts)
- Transfer to other Polaris Bank accounts
- Transfer to other banks (NIP transfers)
Enter the recipient’s account number and bank name (if transferring to another bank). If you’ve saved the recipient as a beneficiary, you can select them from a list.\
Input the amount of money you wish to transfer.
: You can include a brief description of the transfer for your reference(Optional)
Double-check all the details entered to ensure accuracy.
Click on the “Transfer” button to initiate the transfer. You may be required to enter a one-time password (OTP) or token response for authorization.

Read; Guide on How to transfer money from keystone Bank

How to Send Money from Polaris Bank Via Branch

To send money from a Polaris Bank branch, you will need to:

Locate the nearest Polaris Bank branch and visit in person.
Inform the bank teller that you want to make a transfer, and they will provide you with the appropriate form (e.g., Teller Transfer Form). Fill out the form accurately with the recipient’s name, account number, bank name, and the amount you wish to transfer.
Submit the completed form along with the cash or cheque you wish to transfer. If paying in cash, the teller will count the money to verify the amount.
The teller will process your transaction and provide you with a receipt. This receipt is important as it serves as proof of your transaction.

Polaris bank Cardless- Pay code

Polaris Bank offers a Cardless Withdrawal feature, which allows you to withdraw cash from an ATM without using your debit card. Here’s how to use it:

Dial 8333#Using your phone number registered with Polaris Bank, dial this USSD code.
You’ll be guided through the process, including selecting the account to debit and entering the desired withdrawal amount.
You’ll receive an OTP on your phone via SMS. This OTP is valid for a limited time, so proceed to the ATM quickly.
Withdraw at the ATM:
- At the ATM, select the “Cardless Withdrawal” option.
- Enter your registered mobile number.
- Enter the OTP you received.
- Enter the amount you want to withdraw.
- The ATM will dispense the cash.

How to buy Airtime from Polaris bank

To buy airtime for yourself and others using the Polaris Bank USSD code (*833#), follow these simple steps:

Buying Airtime for Yourself:

Dial *833*Amount#: Replace “Amount” with the desired airtime value. For example, dial *833*1000# to purchase ₦1,000 airtime.

You’ll be prompted to confirm the transaction details. Ensure the displayed amount and phone number are correct.
Enter your 4-digit PIN to authorize the transaction
You will receive a confirmation message indicating a successful airtime recharge.

Buying Airtime for Others:

Dial *833*Amount*Phone Number#: Replace “Amount” with the desired airtime value and “Phone Number” with the recipient’s phone number . For example, dial *833*500*08012345678# to purchase ₦500 airtime for the number 08012345678.
You’ll be prompted to confirm the transaction details, including the recipient’s phone number and the amount.
Enter your 4-digit PIN to authorize the purchase.
You will receive a confirmation message indicating a successful airtime recharge for the other person.

Read: How to Buy Airtime and Data from first bank

How to block Polaris bank ussd code and card

You have several options to block your Polaris Bank USSD code and card:

1. Block Using USSD:

Dial *833*13*Your Registered Phone Number#. Follow the prompts to block your account.

3. Contact Polaris Bank Customer Service:

Call the Polaris Bank customer care line at +234 806 988 0000 or +234 1 4482100.

Inform them that you want to block your card and/or USSD code.
Provide the necessary details, such as your account number, card number, and registered phone number.
Follow their instructions to complete the blocking process.

4. Visit a Polaris Bank Branch:

Go to your nearest Polaris Bank branch.
Inform a customer service representative that you want to block your card and/or USSD code.
Provide your account information and any necessary identification documents.
They will assist you in blocking your card and USSD code.

Frequently Asked Questions (FAQs)

1. What are the different ways to transfer money with Polaris Bank?

Polaris Bank offers several options for money transfers:

Vulte Mobile App
PolarisXperience (Internet Banking)
USSD code (*833#)

1. Polaris Bank *833# smart code offers seamless, easy payments and other banking services
ATM transfers
In-branch transfers
International Money Transfer services (Western Union, MoneyGram, Ria, etc.)

2. Can I transfer money to other banks in Nigeria from Polaris Bank?

Yes, you can transfer money to other banks in Nigeria using the NIP (Nigeria Inter-Bank Settlement System) transfer option available on the Vulte app, PolarisXperience, and the *833# USSD code.

3.How much is my daily transaction limit on vulte?

Your transaction limit depends on your account/wallet tier. These limits are defined by CBN and may change from time to time.

- Tier 1
- Daily transaction limit is ₦30,000.00
- Maximum single deposit of ₦50,000.00
- Maximum cumulative account balance of ₦300,000.00

- Tier 2
- Daily transaction limit is ₦100,000.00
- Maximum single deposit limit of ₦100,000.00
- Maximum cumulative account balance of ₦500,000.00

Tier 3
Default daily transaction limit is ₦500,000.00. However, to increase it to ₦5,000,000.00 by CBN regulation, you will be required execute a one-time indemnity on VULTe and enter your PIN and token when your daily (cumulative) transaction is above ₦500,000.
Unlimited Maximum single deposit limit
Unlimited Maximum cumulative account balance

4. How long does it take for a transfer to reflect in the recipient’s account?

Transfers within Polaris Bank are usually instant.
Transfers to other banks (NIP transfers) typically take a few minutes to a few hours.

5. Are there any fees or charges for Polaris Bank money transfers?

Yes, fees may apply depending on the transfer type, amount, and destination.

Transfers within Polaris Bank accounts are usually free using the app or internet banking.
Transfers to other banks (NIP) incur fees.

6. Can I schedule future or recurring transfers with Polaris Bank?

Yes, you can schedule future-dated or recurring transfers through the Vulte app and PolarisXperience (internet banking).

7. How can I track the status of my transfer?

You can track your transfer through the transaction history on the Vulte app or PolarisXperience. You might also receive SMS or email notifications.

8. What should I do if my transfer is delayed or unsuccessful?

Contact Polaris Bank customer care immediately, providing transaction details for assistance.

9. Can I cancel a transfer after it has been initiated?

It depends on the transfer type and its status. Some transfers, especially instant ones, might not be cancellable. Contact Polaris Bank customer care for help.

10.How can I increase my transaction limit from lower tiers?

To increase your transaction limit:

Tap ‘Upgrade your account’ beside your profile picture.
Tap to select your desired limit.
Upload your Proof of Address, Other Means of Identification and Signature.

NOTE: You will be able to transact with your new limit after verification and approval of your uploaded documents which takes 24 hours.

1. What do I do when I forget my Pin or want to change my Vulte PIN?

- To Reset PIN
- Tap the Menu bar at the top left corner of the Home page.
- Tap Settings
- Select Reset Transaction PIN and follow the prompts to reset your PIN.

To Change PIN
Tap the Menu bar at the top left corner of the Home page.
Tap Settings
Select Change Transaction PIN and follow the prompts to change your PIN.

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Meet Ogbeide Frank, also known as Perere, a blogger passionate about writing on finance and technology. He studied Business Administration at Ambrose Alli University in Ekpoma and Mobile Communication at Orange College in Malaysia. Frank has experience working as a banker and consultant for various agencies in Nigeria.