Payment Service Bank (OPay), has announced a new charge on electronic transfers into personal and business accounts in compliance with Federal Inland Revenue Service (FIRS) regulations.
In a notice to its customers on Saturday, Opay announced that from Monday, 9 September 2024, it will charge a one-time fee of N50 on transfers of N10,000 and above.
OPay clarified that the charges are requirements from the government and not a source of revenue for the payment platform.
The notice read;
“Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfer of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service regulations.”
“It is important to note that OPay does not benefit from these charges in any way as it is directed entirely to the Federal Government.”
