How do I send money to a bank?
Go to Payouts > Send to Bank. Enter the recipient's bank and account number, enter the amount, and confirm. Funds arrive within minutes via NIP....
Last updated August 5, 2026
Sending money to any Nigerian bank is quick and easy.
How to send money
- Open the app and go to Payouts > Send to Bank.
- Select the recipient's bank.
- Enter the account number.
- Enter the amount.
- Add an optional description (for your records).
- Confirm with your PIN.
Transfer speed
- Funds arrive within 1–5 minutes via NIP.
- You'll receive a confirmation notification once the transfer is complete.
Fees
| Transfer type | Fee |
|--------------|-----|
| Under ₦5,000 | ₦10 flat |
| Above ₦5,000 | ₦25 flat |
| To Cashmatrix business | Free |
Limits
| Tier | Single transfer | Daily limit |
|------|----------------|-------------|
| Basic | ₦100,000 | ₦500,000 |
| Verified | ₦500,000 | ₦5,000,000 |
| Enterprise | Custom | Custom |
Tips
- Save frequent recipients under Favorites for faster transfers.
- Always double-check the account number before confirming.
- Keep the transaction reference for your records.
Tip: Transfers to other Cashmatrix business accounts are always free.
Need a hand? Email hello@cashmatrix.ng.