How to transfer money using Access bank online banking service

Posted by Felix Okoli on Wednesday February 17, 2016 at 17:52:57:

If you have an Access bank account and have subscribed to their internet/online banking service, you can easily transfer money from your account to another bank account in a few minutes.

Things needed are: Internet/WiFi service, hardware token, username and password

Internet/WiFi service: You need access to an internet service and so you need to first of all subscribe to an internet service provider. This will allow you to use your computer browser or mobile phone app to log into Access bank's portal and be abel to to do online transfer. Access bank branches now also offer free WiFi service that allows customers to log into their banking network if they are close to the branch.

Hardware token: You need to also have a hardware token from Access bank that would allow you to generate secret numbers also known as tokens or One Time Passwords(OTP) and they are necessary for approving transactions you make on their online banking service.

Username and password: You also need to have subscribed for an online banking service at Access bank after you've opened an account and they will provide you with a username and password with which you can do online banking transfers. You can sign up for internet banking service at your bank or you can download the app and install it on your device to use in a few minutes. Once you have been subscribed as a verified user, you'd need to log int with your username and password before being able to initiate transfers and approve them using the code generated by your hardware token.

How it works
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- First ensure you are connected to an internet/Wifi banking service
- Log into Access bank's online banking service with your username and password
- Initiate an online transfer request and ensure the account details of the beneficiary are correct.
- Generate an OTP when asked and use it to approve the transfer

The money will be transferred within 5 minutes or less to the account of the beneficiary and you'd be charged a token/transaction/convenience fee of about N105 for it if it's outside Access bank. If it's within Access bank, I think it's free.

So, you don't always need to visit your bank physically just to transfer money by filling a form or doing a physical withdrawal and making deposit afterwards anytime you want to transfer money to another person. You can actually do the transfer without the need for touching your cash and you can do this using your Access bank's mobile banking app or their internet banking website.