What types of accounts are available?

Tier 1 (BVN only): ₦50,000 min withdrawal. Tier 2 (BVN + ID + passport): ₦250,000. Tier 3 (BVN + ID + passport + utility bill + signature): ₦500,000, ...

Last updated August 5, 2026

Cashmatrix offers three account tiers, each with different limits and requirements.

Tier 1 — Basic

Requirements: BVN or NIN only

Single transfer limit: ₦50,000
Daily transfer limit: ₦300,000
Wallet balance limit: ₦300,000

Best for: Getting started and trying out Cashmatrix.

Tier 2 — Standard

Requirements: BVN + valid ID + passport photo

Single transfer limit: ₦250,000
Daily transfer limit: ₦500,000
Wallet balance limit: ₦500,000

Best for: Everyday banking, regular bill payments, and moderate savings.

Tier 3 — Premium

Requirements: BVN + ID + passport photo + utility bill + signature

Single transfer limit: ₦500,000
Daily transfer limit: ₦5,000,000
Wallet balance limit: ₦10,000,000

Best for: Business owners, high-volume users, and premium savings plans.

Tip: You can upgrade your tier at any time from Settings > Verification. Upgrades are processed instantly.