FX Direct

FX Direct is a funds transfer process which relates to outbound foreign currency denominated transaction initiated by our customer to a beneficiary with account in another Bank (Local or International) which requires intervention of offshore correspondent Bank(s).

A customer wishing to carry out an FX transfer is required to have an active domiciliary account with the Bank.

Requirements
  • Account must not be less than six months.
  • Customer must possess a domiciliary account in either USD, GBP or EURO
  • Account must be fully funded to the tune of transfer amount plus charges.
  • Customer cannot transfer more than $10,000.00 per day or its equivalent in GDP and EURO per day.
  • The CBN dollarization policy prohibits the transfer of foreign currency to third parties within all Nigerian banks with the exception of transactions for businesses in the following sectors; Maritime, Aviation, Oil and Gas, Free Trade Zones and Federal Government Parastatals.
Eligibility
  • This product is available to all domiciliary accounts so long internet banking option is activated.
  • For further enquiries, you may reach Foreign Transfer Desk via mail on
FTDesk@Polarisbanklimited.com Call 08082218249

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