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.
- 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.
This product is available to all domiciliary accounts profiled on PolarisXperience.