Home News WhatsApp Banking: Innovative Idea To Ease Banking Transactions In Nigeria

WhatsApp Banking: Innovative Idea To Ease Banking Transactions In Nigeria

Last updated on February 19th, 2019,
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Whatsapp Banking

The world of technology is rapidly advancing, and every sector is diving in to take its advantage. Since inception, Whatsapp-the world’s most popular messaging app-has grown to have wide acceptance with all levels of individual. And more recently, WhatsApp is evolving from just a mere chit chat messaging platform to one used for basic banking services. In an emerging economy like Nigeria, mobile banking has been a very strong area of financial growth, this ranges from the use of USSD codes for transaction and mobile app. Now, Nigerian banks are diving into a new form of moblie banking, the WhatsApp Banking.

WhatsApp Banking allows you to carry out simple financial transaction by chatting with the bank via Whatsapp, using their special WhatsApp Banking Number. So far, Access bank, First bank of Nigeria, Guaranty Trust Bank and United Bank of Africa(UBA) have tapped into this innovation and rolled out their WhatsApp Banking Numbers.

It is fairly easy to use WhatsApp Banking, not much difference from the regular chat, except that responses don’t feel too human. But wait, the aim is to carry out transaction, not to socialize. All of them operate fairly in the same way, however each bank differs in the capability of transactions they can carry out for now on this platform.

WhatsApp Banking is an extension of Chat Banking already available on Facebook and since the instant messaging app is the most used among Africans, it gives banks a wider reach compared to Facebook Messenger.

Nigerian Banks That Currently Uses WhatsApp BAnking

In Nigeria, four banks have extended their financial services to the use of WhatsApp Banking in addition to other existing mobile banking channel. These banks are:

  • United Bank for Africa (UBA): The UBA Whatsapp Banking is also Called “Leo”. Here is Leo’s (UBA Whatapp banking Channel) WhatsApp number (+2349030002455). Simply save this number and head to your Whatsapp to initiate a chat transaction by simply sending Hi or Hello. Some of the features on LEO include fund transfer, top-up, checking of bank statement and account balance, and opening an account.
  • Guaranty Trust Bank (GTB): GT Bank is undoubtedly one of the most innovative banks in Nigeria and they are also tapping into this new mobile banking technology. Using GT Bank WhatsApp Banking Channel is very similar to others, Simply Add GT bank Whatsapp Number, (+2349060001601) to your contact and head on to your Whatsapp, send “HI” and follow the prompt replies as appropriate.
  • Access Bank: To connect with Access Bank on WhatsApp, all you need to do is, add the mobile number- +234 9090 901 901, as a contact in your phone. After saving the number on your phone, like others, just send a “Hi” to activate the service. It is important to note that customers must use the number registered to their personal accounts with the Bank. All service requests on Access WhatsApp are treated instantly, and the speed of transaction is dependent only on the internet connection of the user. Services customers can access via the Access WhatsApp Banking platform include; BVN display, Balance Enquiry, Request Payday Loan and Account Opening.
  • First Bank: Some of the transactions you can perform via FBN WhatsApp banking are; Check account balance and request mini bank statement, Funds transfer, Airtime and internet data purchases, Pay bills and utilities and Merchants payment.

How to use the WhatsApp Banking

There are different reasons why a person will want to use WhatsApp Banking Ranging from the ease to the speed. However, to use this new innovative technology, you have to save the bank’s Whatsapp Banking number on your Phone for it to appear on your WhatsApp contact list.

  • Save the Bank’s WhatAspp Banking Number on your Phone as a contact
  • Refresh Your Whatsapp to load the new contact on your Whatsapp
  • On Whatsapp, navigate to the Whatsapp Banking number you just saved, tap on it to begin chat
  • Type “HI” or “Hello” to initiate a chat
  • You’ll get a reply almost instantly with a link to Terms and Condition Agreement, click on it and read the terms
  • If you agree with the terms and agreement policies, reply appropriately
  • Start transacting by replying as appropriate to the prompts you get from the chat

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