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First Bank Has Doubled Daily Transaction Limits On Its FirstMobile App

Customers of First Bank who make use its FirstMobile App will now be able to carry out daily transactions on the app worth a maximum of ₦1 million. This represents a doubling of the limit for transactions, which until recently was fixed at ₦500,000. The bank has also increased the maximum daily amount of money transferrable through the app to First Bank accounts and other bank accounts without a token to ₦150,000.

In a statement released last week, the bank said it was raising transaction limits on its mobile app in order to enhance its customer’s digital banking experience. The goal, read the statement, was to “offer value added services that suit the lifestyles of its customers.”

The FirstMobile integrated lifestyle mobile banking app allows its users to enjoy a wide range of banking services: domestic fund transfers from own account to First Bank accounts and other bank accounts, bill payments, airtime purchases, cheque services, flight booking, account statement and balance enquiries.

Launched in 2015, the FirstMobile app has over 1 million active users. The volume of transactions recorded for the app since its introduction has surpassed the ₦1.3 trillion-mark.

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Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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