Steps To Transfer Money Through ATM: Detailed Guide

If you are reading this post I presuppose that you know what an ATM is already: Automated Teller Machine. I am sure most of you know that you can transfer money through atm to any bank account in Nigeria with your ATM Card, the problem, however, might be that some of us don’t know how to transfer money through ATM card. Relax, I will show you just how to do that as well as other necessary ATM-related transactions. Let’s take a look at ATM transfer in Nigeria.

Before we continue, if you are a Diamond Bank customer here is how to get Diamond Bank Transfer Pin.

How to Transfer Money Through ATM To Another Bank Account In Nigeria

Rather than stand in the queue for several hours in the bank just to make a deposit to another bank account, why not use your ATM card to perform bank transfer in a jiffy. Though it often comes with a cost of N100. So the choice is yours. If you prefer to wait endlessly on the line, go ahead, otherwise, read on.

Can you transfer money from an ATM?

A debit card to debit card or bank account is possible since it is the same as a money transfer between banks. You can transfer all the money you need (within daily cash limits of course) even if the ATM does not have cash in it. Note however that some ATM will not allow any kind of transfer or payment transactions if it isn’t able to print receipts.

Here are the steps to transfer money through ATM in Nigeria

  • Find an ATM near you.
  • Insert your card
  • Enter your Pin number and press Proceed button to continue
  • Click on “TRANSFER”
  • Select your source account (Current, Savings, or Credit for MasterCard account)
  • Choose your destination account
  • Enter the amount to transfer and click the Proceed button
  • Click ‘No’ to complete the transaction or ‘Yes’ to continue with another transaction

How To Transfer Money Without ATM Card

It is also possible to transfer money to other people’s account without the need for an ATM. All you need are an Internet connection, a Quickteller account, and a smartphone.

How To Do Money Transfer Without ATM

  • Log on to and create an account
  • Log in to your Quickteller account
  • Click on transfer money
  • Select the destination bank
  • Select the Account type
  • Enter the account number
  • Enter the Beneficiary’s name
  • Enter the amount
  • Enter the receiver’s phone number
  • Click on next
  • Confirm the details
  • Click on Pay and enter the following card details:

+ Card Number

+ Card Name

+ Expiry Date

+ CVV code

+ Card PIN

  • Click on Pay
  • Enter the Safe Token delivered to your phone

If the transaction is successful, you will be sent an SMS saying ‘’Account Transfer Successful’’ along with a reference number.

The beneficiary will receive the exact amount of money you transferred to his account while an N100 convenience fee will be deducted from your account.

Cardless ATM Withdrawal In Nigeria

How To Withdraw Money From ATM Without Pin Number

There is a new way in Nigeria to withdraw money from the ATM machine without your debit card being physically present. Let me show you how to use Verve Paycode without any stress.

Step 1- Download App

The file size is 3.65 MB and it is free to download.

Step 2- Register

Registration is just a two-step process:

  • Either sign up as a new user and attach the details of your ATM card on to the Verve World App then continue
  • Or log in with your existing Interswitch account.

After successful registration, you should get this notification “Welcome to Verve eCash” in the subject line and an accompanying email from the Verve International team with.

Step 3- Generate a Verve Paycode

After registering, click on the PAYCODE option to generate a Verve Paycode.

You would be given the preference of generating a unique one-time code valid for 24 hours, which you can use to withdraw cash from an ATM without a card.

The Verve World App can do a whole lot of other cool stuff. You should check it out.

ATM Transfer Limit In Nigeria

The Nigerian bank ATM card withdrawal limits have been met with some form of adjustment.

In the new adjustment, every ATM that was enabled for domestic and foreign transactions have been restructured to limit Naira cash withdrawal at ATMs to N150, 000 per day (i.e. domestic withdrawal limit is N150, 000 per day) while foreign currency is $300 per day. The cash can be withdrawn from ATM machine in multiples of 5,000; 10,000; 15,000; 20,000; 25,000; 30,000 and 35,000 depending on the bank’s ATM.

The adjusted ATM cards now have spending limits on POS and online shopping pegged at $300 per day. On December 2016, some banks further limit online shopping spending limit to $100 per day. Unlike before, the limit was N2 million per day.

At present, the funding limit of third-party account like Skrill account, PayPal, Payoneer etc. is pegged at $100 per month.

In this new arrangement, a bank customer with several debit cards can only transact abroad with one linked to the primary transactional account. Such customers can also transact with any of the cards that are funded.

Nevertheless, banks are working hard to ensure that there are alternatives in these adjustments.

GTBank nowadays has Dollar MasterCard which is mainly for limitless online shopping, payment making and other transactions abroad and online.

How Do You Deposit Money Into An ATM?

  • Insert your debit card into the machine and enter your PIN
  • Select the on-screen option for deposits
  • Pick the account you want to deposit to
  • Enter the amount of your deposit if necessary
  • Insert the cash into the ATM.

Can You Put Money In An ATM?

Yes, but you have to search for notices on the screen or on the machine itself. No-envelope ATMs more often than not have noticeably-marked, separate slots for cash. Insert your card, enter your PIN, and follow the prompts to make a deposit. The ATM will verify at some point if you can make no-envelope deposits.

That is all about how to transfer money through ATM in Nigeria. Hope it was useful. You can always share your experience in the comment box.


Please enter your comment!
Please enter your name here