Limits and allowances

There are two account types to make gomoney more accessible to everyone. the Starter Account and the Standard Account.  Here's what you need to know;

• Starter Account - You can access a starter account once you verify your BVN. With a starter account, you have a daily transaction limit of up to NGN 200,000 and a single transfer limit of 50,000. You also have access to bill payments but at a limit of NGN 20,000. Here are some more benefits of a Starter account: 

  • Access to bill payments (airtime, data, internet, TV and electricity bills)
  • Enriched transactions on transfers and bill payments
  • Access to view and download account statements (stamped and unstamped) 
  • Access to save and schedule bill payments and transfers. 

• Standard Account - A standard account is obtained when you verify a valid form of identification. (e.g. voter card, NIN slip, driver's license, international passport). With a Standard account, you have access to a daily transfer limit to gomoney accounts and to other banks at NGN 5,000,000. The limit on a single transfer with a standard account is also NGN 5,000,000 and you have access to a bill payment limit of NGN 100,000 per day and NGN 50,000 per bill transaction. Please note that "bill" here refers to internet, TV, and electricity bills. The daily limit on airtime and data is NGN 20,000 and NGN 10,000 per transaction. Here are some more benefits of a Starter account: 

  • Access to all the features of a starter account
  • Access to virtual and physical cards
  • Access to split bills with groups and contacts 
  • enriched transactions on all types of account transactions, including cards. 
  • Access to payment links 
  • Access to request money feature 
  • Access to Stash, and more. 

If you are unsure about the tier of your account, click on your settings, then transaction limits and you will see your account type and limits. You can also edit your limits to fit your spending under a standard account. With gomoney, your money is 100% safe with PCI DSS Level 1 Compliance, and you're insured by the NDIC. So rest easy and spend comfortably.

Why do we need your BVN?

To provide you with more value, we're requesting your BVN to validate your date of birth, legal name, and phone number.

We cross-check this information against the CBN database to ensure that the information you have provided is accurate and to further protect you from Identity Theft and Fraud.

Your BVN also gives you access to a higher transaction limit of NGN 200,000 daily and a maximum account balance of NGN 300,000. We take your security very seriously and so will not store any information that may be an infringement on your privacy.

What this means is that we will not have access to your other bank accounts or financial history. Your information is safe with us.