Sterling Bank has notified us of its intent to recall all virtual account numbers with prefixes from 900 to 907. This recall is due to a conflict with another set of accounts used for a different product within Sterling Bank.

Currently, Sterling Bank will not be reassigning these account numbers for now but will deactivate them, making them unable to receive payments.

If your Sterling Bank account starts with 900, 901, 902, 903, 904, 905, 906, or 907, please switch to Wema Bank or MoniePoint MFB temporarily while we work on generating a new Sterling Bank account for you.

Dear Valued Customer,

We would like to inform you that we are sunsetting payment collections via the Providus Virtual Account.

This decision is due to the significant charges the bank has introduced for this service, which include a 1% fee capped at 500 NGN and an additional 0.1% uncapped Account Maintenance Charge (AMC) that we were recently made aware of.

Previously, there were no charges for this service, but now the costs have increased substantially compared to other options.

For example, a transaction of 100,000 NGN will now incur 645 NGN in fees:

500 NGN (1% fee)*

• 100 NGN (0.1% AMC charge)
• 45 NGN (7.5% VAT)

In contrast, the same 100,000 NGN payment via Moniepoint, Wema Bank, or Sterling Bank Virtual Accounts (provided by Monnify) will cost only 107.5 NGN.

A one million naira transaction sent via Providus will cost 1,612.5 NGN, whereas the same amount via Monnify will cost 107.5 NGN.

We recommend that you stop funding your wallet with the Providus Virtual Account and instead use Moniepoint, Wema Bank, or Sterling Bank.

We have stopped generating and assigning Providus accounts to users who do not already have one. However, payments made via already assigned Providus Virtual Accounts will still be credited, less the applicable fees.

Thank you for your understanding.

Dear Valued Customer,

We hope this message finds you well. We are writing to inform you of important updates and changes to the Providus Bank service that you use to fund your wallet on AirtimeNigeria.com.

Providus Bank has notified us of the following changes, which will take effect from Monday, 1st July 2024:

Collection Fee: A collection fee of 1% of the transaction amount, capped at ₦500, will be applied to all Digital Collection Service transactions.

Stamp Duty Waiver: Due to the introduction of the above charges, the ₦50 Stamp Duty on transactions of ₦10,000 and above is now waived.

KYC Requirement: Know Your Customer (KYC) information is now mandatory and must be collected during the onboarding of sub-account customers.

We understand that changes in service fees and procedures can impact your experience, and we are committed to ensuring a smooth transition.

We appreciate your understanding and continued support. Should you have any questions or concerns regarding these changes, please do not hesitate to contact our customer service team via live chat, support@airtimenigeria.com or 07059090000.

Thank you for choosing AirtimeNigeria.com.

Best regards,

The AirtimeNigeria Team

Dear Customer,

Providus Bank has notified us that they will be retrieving dedicated account number that hasn't been used 30 days after creation.

Hence, if we have generated a Providus Bank account for you, and you intend to keep it, kindly endeavour to transfer at least 500NGN to the account on or before 1st September, 2022.

This only affects Providus Dedicated Bank accounts, other dedicated bank accounts provided by Monnify such as Wema, Sterling and MoniePoint MFB will remain functional.

The only advantage of Providus over Monnify Dedicated account is that Providus does no charge any gateway fee for funding whereas Monnify charges a 0.75% fee + VAT capped at 107.5NGN.