How long does a transfer take?
Transfers to Cashmatrix accounts are instant. Transfers to other banks complete within 1-5 minutes via NIP. If a transfer takes longer, check your tra...
Last updated August 5, 2026
Transfer speeds depend on where you're sending money.
Transfer times
| Destination | Speed |
|-------------|-------|
| Cashmatrix account | Instant |
| Other Nigerian banks | 1–5 minutes |
Why transfers are fast
Cashmatrix uses the NIBSS Instant Payment (NIP) platform, which processes transfers in real time. This is the same infrastructure used by all major Nigerian banks.
If your transfer is delayed
Most delays are caused by:
- Network congestion at the recipient's bank
- Incorrect account details (name mismatch)
- Recipient bank maintenance
What to do
- Go to Transaction History and find the transfer.
- Check the status:
- Pending: Still processing — wait a few more minutes.
- Successful: The money has been delivered. The recipient should check their bank.
- Failed: The money has been reversed to your wallet.
- If the status is "Pending" for more than 30 minutes, contact support with the transaction reference number.
Tip: Always double-check the recipient's account number before confirming a transfer. Incorrect details can cause delays.
Need a hand? Email hello@cashmatrix.ng.