OPay has established a new charge on electronic transfers into personal and business accounts in compliance with Federal Inland Revenue Service regulations.
Opay on its user’s notification board on Saturday, stated that the charges would be in effect from Monday, September 9, 2024, noting that a one-time fee of N50 will be applied to electronic transfers of N10,000 and above.
The circular reads, “Please be informed that starting September 9th, 2024, a one-time fee of N50 will be applied to electronic transfers of +10,000 and above paid into your personal or business account, in compliance with the Federal Inland Revenue Service (FIRS) regulations.”
However, the online bank clarified that the fee is not for the advantage of the company but requirements from the federal government.
“It is important to note that OPay does not benefit from this charge in any way as it is directed entirely to the Federal Government,” Opay clarifies.
