FX Direct is a funds transfer process which relates to outbound foreign currency denominated transaction initiated by our customer to a beneficiary with account in another Bank (Local or International) which requires intervention of offshore correspondent Bank(s).
Customer is required to have an active domiciliary account to make an FX transfer.
Requirements
- Account must not be less than six months.
- Customer must possess a domiciliary account denominated in either USD, GBP or EURO
- Account must be fully funded to the tune of transfer amount plus charges.
- Maximum daily limit of $10,000 per day or its equivalent in GBP and
- The CBN dollarization policy prohibits the transfer of foreign currency to third parties within all Nigerian banks with the exception of transactions for businesses in the following sectors; Maritime, Aviation, Oil and Gas, Free Trade Zones and Federal Government Parastatals.
Eligibility
This product is available to all domiciliary accounts profiled on PolarisXperience.
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