OPay will apply a N50 fee for transfers exceeding N10,000, effective 9th September 2024, as per Federal Inland Revenue Service regulations.
[dropcap]O[/dropcap]Pay digital banking platform has announced the introduction of a N50 transfer fee for transactions exceeding N10,000. This change will take effect on 9th September 2024 and applies to both personal and business accounts.
The fee, as communicated to customers via text message, is in compliance with Federal Inland Revenue Service (FIRS) regulations.
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The platform explained that the one-time fee will be deducted for any electronic transfer of N10,000 and above. While customers continue to face economic challenges, OPay assured users that the fee is a regulatory requirement, not a discretionary charge.
The announcement sparked conversations among users, with some expressing concerns about the added financial burden amidst the current economic situation.
However, OPay reiterated its commitment to providing affordable and reliable services to its users, while complying with government regulations.
Oreoluwa is an accountant and a brand writer with a flair for journalism.
