How To Transfer Money From Zenith Bank To Other Banks

zenith bank

On This Post, You Will Learn How To Transfer Money From Zenith Bank To Other Banks With Your Mobile Phone

Zenith bank is no doubt the envy of all banks in Nigeria. To bank has a good reputation, their services are excellent, and their operation is one of a kind. Zenith bank offers USSD banking services.

The service allows its customers to perform some listed bank functions with their mobile by just dialing the USSD code, anytime anywhere.

Zenith Bank uses *966# as their USSD code. This code can be dialed from any kind of mobile phone, irrespective of internet connection. The Zenith bank USSD permits its customers to transfer money from their Zenith bank account to any other account regardless of the bank name.

How To USe Zenith Bank Transfer code

Dial *966*Amount*Account Number# (for example, to transfer 5,000 naira dial *966*5000*1234567890#)

After dialing the code, you will have to follow the on-screen prompts. You must know the name of the recipient bank, as well as the recipient name because you will have to confirm this during the process.

The last step in the process is your transfer PIN, so you should have it too.

Immediately after the transfer, the sum of money will be debited from your account and credited to the recipient bank account.

Features of Zenith Bank *966#

  • To open a Zenith Bank account
  • To purchase airtime for your mobile phone
  • To transfer money to another account
  • To pay your bills
  • To check your Zenith bank balance
  • To update your BVN

Brief History Of Zenith Bank

Zenith Bank was established in 1990 and commenced operations the same year. At inception the bank it had a capital base of 4 million dollars. Zenith bank began operations during a period when the Nigeria banking sector liberalized by the government. A period when the CBN granted up to 20 banking licenses to investors in a year.

The first office of the bank was a residential house in Victoria Island Lagos, which was changed into a banking hall. In the early years of the bank, it witnessed rapid growth. In 1997, following the banking directive to shore up their capital base, Zenith top up its capitalization to five hundred million naira.

In 1990, the banking industry of Nigeria was led by a select group of four major banks: First Bank, Union Bank, Afribank, and UBA.

In the year 1999, Zenith bank started making use of the internet for marketing of financial services and to promoting usage of online and internet banking by consumers. They become one of the first companies to invest in online banking.

By early 2000s, Zenith’s profile started improving, its investments in IT helped them to compete against other major banks that had a more branch outreach and it began to announce net profits comparable the older big banks.

In June 2004, following a successful IPO (initial public offer), the bank then became a PLC (public limited company) listed on the Nigeria Stock Exchange in October same year.

The shares of Zenith bank were traded on the London Stock Exchange, it followed a listing of the 850 million dollars worth of shares at 6.80 dollars each, in 2013.


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