What is the official website of the payment service?
https://www.polarisbanklimited.com
- Direct message
- Leave a review
- Bookmark
- Share
- Report
- prev
- next
Where can I find the customer support contacts?
Customer support contacts are listed on the Contact Us page of the official Polaris Bank website.
What is the hotline phone number?
+234 700 765 2747
Is there a toll-free support number?
Polaris Bank does not list a toll-free number on their website; customers use the main hotline number.
What is the email address for technical support?
Are there separate emails for different types of inquiries?
Polaris Bank provides different departmental emails such as [email protected] and [email protected] for specific queries.
Where can I find the online chat support?
Online chat support is accessible via the Polaris Bank website or within the Polaris Mobile app.
Does the chat support work 24/7?
Chat support is generally available 24/7 through digital channels, though response times may vary at night.
Is there support through messengers (Telegram, WhatsApp)?
Polaris Bank offers customer support via WhatsApp at +234 818 108 0080.
What are the support working hours?
Call center and digital support typically operate 24/7; in-person branch support follows regular banking hours.
Does support work on weekends and holidays?
Digital customer support is available weekends and holidays; branch locations follow official holiday schedules.
Are there regional offices for in-person visits?
Polaris Bank has physical branches and regional offices throughout Nigeria for in-person visits.
Where are the physical offices located?
Branches are located nationwide; the headquarters is at 3 Akin Adesola Street, Victoria Island, Lagos.
Can I schedule a personal meeting?
Personal meetings can be scheduled by contacting the branch or via the website, subject to availability.
Are there representatives in different countries?
Polaris Bank does not maintain international representative offices; it is focused on Nigeria.
In which languages is support available?
Support is primarily available in English, with some local language assistance at branches.
How quickly does support respond to requests?
Response times vary by channel; phone and chat are typically immediate, while email may take up to 24 hours.
Is there a priority system for VIP clients?
VIP and corporate clients may receive priority support with dedicated relationship managers.
Can I request a callback?
Callback services may be requested via website forms or calls, depending on the nature of the inquiry.
When was the payment service founded?
Polaris Bank Limited was established in September 2018.
Who is the founder and owner of the service?
Polaris Bank was formed by the Asset Management Corporation of Nigeria (AMCON) and is owned by Strategic Capital Investment Limited (SCIL).
In which country is the company registered?
Nigeria
What is the development history of the payment service?
Polaris Bank emerged from the acquisition of assets and liabilities of the defunct Skye Bank, with continuous growth in digital banking since 2018.
Have there been major updates or rebranding?
The transition from Skye Bank to Polaris Bank in 2018 marked a major rebranding and operational modernization.
Who sits on the company's board of directors?
The board includes distinguished Nigerian business professionals, led by Chairman Muhammed K. Ahmad and CEO Innocent C. Ike.
Are there investors or partners in the service?
Strategic Capital Investment Limited (SCIL) is the main investor; partnerships exist with fintechs and banking technology firms.
Does the company participate in stock trading?
Polaris Bank is privately held and not listed on any stock exchange.
What is the company's market capitalization?
As a private bank, Polaris Bank does not have a publicly available market capitalization.
Are there subsidiary companies or branches?
Polaris Bank operates only as a commercial bank with multiple branches across Nigeria.
What licenses does the payment service have?
Licensed by the Central Bank of Nigeria as a commercial bank.
In which jurisdictions does the service operate officially?
Polaris Bank operates officially in Nigeria.
Are there licenses for cryptocurrency operations?
Polaris Bank does not currently hold licenses for cryptocurrency operations.
Does the service comply with AML/KYC requirements?
Polaris Bank complies with AML and KYC regulations as mandated by CBN and Nigerian law.
Are there security certificates (PCI DSS, etc.)?
Industry standard practices such as PCI DSS for card processing are typically observed.
Has the service undergone security audits?
Regular internal and external audits are conducted to meet regulatory and security standards.
Is there insurance for client funds?
Customer deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC).
Which international standards does it comply with?
Complies with CBN regulations, NDIC insurance, and international banking standards for anti-fraud and data protection.
Have there been any regulatory fines or violations?
No publicly disclosed major regulatory fines or violations in recent years.
Where can I find real reviews about the service?
Reviews are available on Google Play Store, Apple App Store, Trustpilot, and local Nigerian financial forums.
What are the main user complaints?
Users often mention issues with app reliability, delayed assistance, and occasional transaction delays.
What do users most often praise the service for?
Customers praise the bank’s extensive branch network and commitment to digital banking innovation.
Are there issues with fund withdrawals?
Most withdrawal processes are smooth, but some users report sporadic ATM or app-related delays.
Is the interface convenient according to users?
The mobile and online platforms are viewed as user-friendly but occasionally criticized for glitches.
Are clients satisfied with transaction speed?
Most transactions, especially digital, are processed swiftly, though some experience delays during peak periods.
Do users recommend this service?
Many users recommend Polaris Bank for standard banking needs, though some hesitate due to technical issues.
How do experts assess the service's reliability?
Financial analysts rate Polaris Bank as stable, emphasizing its regulatory compliance and digital expansion.
Are there industry awards and recognitions?
Polaris Bank has received awards for service excellence and digital banking innovation in Nigeria.
Does the service participate in payment system rankings?
Polaris Bank appears in national banking rankings, particularly for digital banking efforts.
Are there recommendations from financial regulators?
Regulators regard Polaris Bank favorably due to its operational restructuring and compliance.
What reputation does the service have among partners?
Partners consider the bank reliable, especially for merchant and business payments.
How do they evaluate solution innovation?
Polaris Bank’s deployment of digital services and mobile banking are viewed as technologically innovative in Nigeria.
Are there quality service certificates?
Service certifications may include regulatory approvals for banking processes and security.
Does the company participate in industry conferences?
The bank regularly attends and sponsors local banking and fintech industry events.
How does the service position itself in the market?
Polaris Bank positions itself as a leader in digital and retail banking in Nigeria.
Which fiat currencies does the service support?
Nigerian Naira (NGN)
Are cryptocurrencies supported? Which ones specifically?
Polaris Bank does not support cryptocurrencies directly.
Is there a proprietary cryptocurrency or token?
Polaris Bank does not have a proprietary cryptocurrency or token.
Can currencies be converted within the service?
Currency conversion services are limited to standard banking operations like FX transaction processing.
What exchange rates are used for conversion?
Exchange rates are sourced from the Central Bank of Nigeria and prevailing market rates.
How often are exchange rates updated?
Rates are updated daily or in real-time, particularly for FX transactions.
Are stablecoins supported?
Stablecoins are not supported.
Can exotic currencies be handled?
Handling of exotic currencies is limited and subject to regulatory FX guidelines.
What types of transfers does the service support?
Supports intra-bank, interbank transfers, wire transfers, and digital payments.
Can transfers be made between service users?
Peer-to-peer transfers are supported within Polaris Bank accounts.
Are transfers to bank cards supported?
Transfers to debit/prepaid bank cards are supported.
Can money be transferred to bank accounts?
Money can be transferred to both Polaris and third-party Nigerian bank accounts.
Is bill payment available?
Bill payment is available via the Polaris Mobile app and online banking.
Are recurring payments supported?
Recurring payment setup is available on digital platforms for bills and scheduled transactions.
Can automatic transfers be set up?
Automatic and scheduled transfers can be configured within mobile and online banking.
Is payment scheduling available?
Payment scheduling features are available in digital channels.
Are group payments supported?
Group payment functionality may be limited; manual splitting is possible via transfers.
Can payment links be created?
Payment links for merchant transactions are offered through special business solutions.
What are the minimum transaction amounts in the service?
Minimum transaction amounts align with regulatory and service channel requirements, typically starting from ₦100.
What are the maximum amounts that can be transferred?
Maximum transfer limits depend on account type and verification level, often up to ₦5,000,000 per transaction.
Are there daily limits on operations?
Daily transaction limits apply, generally from ₦1,000,000 to ₦10,000,000 depending on account and channel.
What monthly and annual limits are in effect?
Monthly and annual limits reflect CBN guidelines, individual account profiles, and usage history.
Can limits be increased? How?
Limits can be increased by submitting a request with supporting documents via the bank or app.
Do limits differ for verified users?
Verified users enjoy higher transaction limits compared to unverified accounts.
Are there restrictions for new accounts?
New accounts face initial transaction limits and restricted features until verification is complete.
Do special limits apply in different countries?
Transaction limits may differ by country for FX transactions, subject to Nigerian regulatory requirements.
Can operations be temporarily blocked?
Temporary blocking is possible for security reasons, suspicious activity, or at user request.
Are there limits on the number of daily operations?
Transaction quantity restrictions exist to prevent abuse and comply with risk management standards.
What are the minimum amounts for account funding?
Minimum funding thresholds vary by channel, typically starting from ₦100.
What methods of funding are supported?
Funding methods include cash deposit, bank transfer, mobile payments, POS, and cheque.
Are there fees for funding?
Funding is generally free via cash deposit and transfer; third-party channels may impose fees.
What are the minimum funding amounts?
Minimum funding amounts start from ₦100 per transaction.
How quickly are funds credited when funding?
Funds are credited instantly or within minutes for most channels.
How can money be withdrawn from the system?
Withdrawals are through ATMs, in-branch cash withdrawal, and transfer to other bank accounts.
Are there fees for fund withdrawal?
ATM and branch withdrawals are usually free for Polaris Bank customers; third-party transfers may include fees.
How long does withdrawal take?
Withdrawals via ATM and POS are immediate; transfers may take up to 24 hours.
What withdrawal limits are set?
Daily withdrawal limits range from ₦100,000 to ₦500,000 depending on channel.
How quickly are funds credited when funding with a card?
Card deposits are credited instantly or within minutes.
How long does a bank transfer take?
Bank transfers typically complete within minutes; may take longer during peak periods.
How quickly do cryptocurrency transfers arrive?
Polaris Bank does not process cryptocurrency transactions.
Are transfers between users instant?
Transfers between Polaris Bank users are typically instant.
Are there delays when funding on weekends?
Weekend funding may face slight delays, especially when using interbank transfers.
Do holidays affect funding speed?
Public holidays can delay transaction processing, particularly for interbank operations.
Can crediting be accelerated for a fee?
Express crediting is not generally available; processing is automated for speed.
What determines the speed of funding processing?
Speed depends on the channel, transaction type, verification level, and time of day.
Are there notifications about funding status?
Transaction alerts via SMS, email, and app notifications notify users about funding status.
What to do if funding takes too long?
Contact customer support via hotline, email, or visit a branch for assistance if delays occur.
How quickly are withdrawal requests processed?
Withdrawal requests typically process within minutes to a few hours depending on method.
How long does card withdrawal take?
ATM card withdrawals are immediate; card-to-account transfers may take up to 24 hours.
How quickly do bank transfers arrive?
Bank transfers are processed within minutes to a few hours; interbank delays may occur.
Are cryptocurrency withdrawals instant?
Polaris Bank does not process cryptocurrency withdrawals.
Are there withdrawal delays on weekends?
Weekend delays may occur, especially for interbank transactions.
Do holidays affect withdrawal speed?
Withdrawal processing may be slower during public holidays.
Can withdrawal be accelerated for an additional fee?
No express withdrawal service is promoted; standard timelines apply.
What determines withdrawal processing time?
Channel, amount, verification status, and service/holiday periods influence withdrawal speed.
Are there notifications about withdrawal status?
SMS, email, and app notifications keep users informed of withdrawal status.
Can a withdrawal request be canceled?
Withdrawal cancellation is possible if processed before completion; must request via support or branch.
How to register with the payment service?
Registration at Polaris Bank requires filling account forms at a branch or online, with personal and identification data.
What data is needed to create an account?
Full name, address, phone number, email, BVN, ID documents, and a passport photo are required.
Can registration be done without email?
Email is recommended but some accounts may be opened with only phone number and physical contact details.
Is phone confirmation required during registration?
Phone verification is usually required for account activation and security.
Are there age restrictions for registration?
Minimum age for bank account registration is 18 years; minors need parental/guardian consent.
Can a corporate account be created?
Polaris Bank offers corporate accounts with business registration documentation and tax information.
Is it required to provide real data?
Real personal and identification data are mandatory for regulatory compliance.
Are there country restrictions for registration?
Account registration is limited to Nigerian residents and compliant entities.
How long does account activation take?
Account activation is usually immediate upon completion of verification or within 24 hours.
What verification levels exist?
Basic and advanced verification tiers exist, with higher levels granting more features and limits.
What documents are required for basic verification?
Valid ID, BVN, proof of address, and passport photo are required for basic verification.
Are documents needed for full verification?
Full verification requires additional documents such as utility bills, employer/manufacturer letters, and financial statements.
Are digital copies of documents accepted?
Digital copies are accepted via the online portal or email for verification.
How long does the verification procedure take?
Verification processing is generally completed within 24-48 hours, depending on workload.
Can the service be used without verification?
Limited access may be granted for unverified accounts; full functionality requires verification.
What restrictions apply to unverified users?
Lower transaction limits and reduced access to advanced services apply for unverified users.
Is address confirmation required?
Proof of address is required for full account setup and verification.
Is a selfie with documents required?
A selfie with the ID document may be requested for digital onboarding security.
How often do documents need to be updated?
Documents require updates only when expired, or upon request for periodic verification updates.
What encryption technologies does the service use?
Advanced encryption standards such as SSL/TLS are used for data transmissions and security.
Is two-factor authentication supported?
Polaris Bank supports 2FA via OTP, SMS, and biometric options for added security.
Are there SMS confirmations for operations?
SMS confirmation codes are sent for sensitive transactions and login attempts.
Is biometric authentication supported?
Biometric logins are supported on the Polaris Mobile app for compatible devices.
Is blockchain technology used?
Polaris Bank does not utilize blockchain in its retail banking operations.
Is there a multi-level security system?
Multi-layered security including authentication, encryption, monitoring, and fraud detection is in place.
How is user personal data protected?
Data is protected by encryption, strict access controls, and compliance with privacy laws.
Is cold storage used for cryptocurrencies?
Not applicable, as cryptocurrencies are not supported.
Is there DDoS attack protection?
The bank implements DDoS mitigation measures to prevent attack disruptions.
Are regular security audits conducted?
Security audits are performed regularly per regulatory and internal requirements.
What anti-phishing protection measures are provided?
Anti-phishing protocols, customer education, and in-app/browser security indicators are provided.
Is there a suspicious activity detection system?
Transaction monitoring and real-time alerts help detect and prevent suspicious activity.
How does the service combat money laundering?
AML procedures include transaction monitoring, customer due diligence, and reporting suspicious activities to regulators.
Is there blocking of suspicious accounts?
Accounts suspected of fraud or AML violations are promptly blocked pending investigation.
What to do when fraud is detected?
Report fraud immediately to customer service, freeze the account, and submit supporting documents for investigation.
How to report suspicious activity?
Contact customer support via hotline, email, or visit a branch to report suspicious activity.
Is there compensation for damage from fraudsters?
Compensation policies exist for verified cases of fraud handled per regulatory guidelines.
What user rights exist for disputed transactions?
Users may dispute transactions through formal complaint channels and regulatory ombudsman.
How to dispute account blocking?
Submit an appeal via hotline, email, or in-person at a branch, with identification and relevant documentation.
Is there insurance against cyber attacks?
Industry standard cyber insurance is maintained to mitigate financial losses from cyber threats.
What fees does the service charge for transfers?
Transfer fees vary by transaction type, channel, and destination as per the bank’s published tariff.
Are there fees for account funding?
Most funding is free, though third-party services may impose charges.
Are fees charged for fund withdrawal?
Withdrawal at Polaris ATMs is free; fees may apply for third-party channels or cross-bank transfers.
Are there fees for currency conversion?
FX transactions incur conversion charges per CBN and bank guidelines.
Are there fees for account inactivity?
Account inactivity fees may apply if the account remains dormant for an extended period per policy.
Are there account maintenance fees?
Monthly maintenance fees apply to some account types as per posted tariffs.
Are fees charged for operation cancellation?
Cancellation fees may apply depending on transaction status and type.
Are there fees for expedited operations?
Express processing is not generally offered for a fee.
Are there hidden fees?
Fees are transparently disclosed; detailed tariffs are available on the website and in-branch.
How are fees calculated for large amounts?
Higher-value transactions may incur percentage-based fees or capped maximum charges per published tariffs.
Are there different tariff plans in the service?
Multiple plans are available, including standard, premium, and business tariffs.
What advantages does VIP status provide?
VIP accounts offer higher limits, faster support, and preferential rates for select services.
How to get preferential conditions?
Apply for premium account status through the bank, meeting minimum balance and usage criteria.
Are there free operations per month?
Certain transactions, such as intra-bank transfers, are free for a limited number each month.
Are there discounts for active users?
Active users may receive reduced fees or loyalty bonuses based on transaction volume.
Are there corporate tariffs?
Business accounts have dedicated tariff plans and bulk payment options.
Can individual conditions be obtained?
Custom rates are available for high-volume and business clients upon negotiation.
Do promotional codes work for fee reduction?
The bank occasionally issues promotional codes for reduced or waived service fees.
Are there cashback programs?
Cashback is offered for select transactions, such as card payments, per promotional campaigns.
Are there discounts for transaction volumes?
Volume-based discounts are available for corporate and bulk transactions.
Is there an official mobile application?
The official mobile app is Polaris Mobile available on major platforms.
On which platforms is the application available?
Available for Android and iOS devices.
What functions are available in the mobile application?
The app offers fund transfers, bill payment, balance checks, account opening, statements, and card controls.
Does functionality differ from the web version?
The mobile app provides most core functions but may lack certain advanced features found on web banking.
Is Touch ID/Face ID supported?
Biometric authentication, including Touch ID and Face ID, is supported for compatible devices.
Can the application work offline?
The app requires internet access for transactions; some features like balance viewing may have limited offline access.
Are there push notifications about operations?
Push notifications alert users about account activity, payments, and security incidents.
Is dark theme supported?
Dark mode/theme is available for mobile users.
How often is the mobile application updated?
The app is updated regularly for security, stability, and feature improvements.
Are there beta versions of the application?
Beta versions may be available through app store programs or special signup.
Is the web interface of the service convenient?
The web platform prioritizes user-friendly design, accessibility, and quick navigation.
Is responsive design supported?
Responsive design ensures accessible service across devices and screen sizes.
In which languages is the interface available?
The interface is provided in English, with possible support for select local languages.
Is there a night mode for the website?
Night mode or dark theme may be available for desktop web users.
Are hotkeys supported?
Hotkey support is limited or not detailed.
Can data be exported?
Users can export statements, transaction histories, and account data in PDF or Excel formats.
Is there an API for developers?
API access may be granted for partners, businesses, and fintechs upon agreement.
Is integration with other services supported?
Integration with select Nigerian fintech and biller platforms is supported.
How often is the web interface updated?
Updates are rolled out regularly for performance, design, and security enhancements.
Are there virtual cards in the service?
Virtual card issuance for online purchases is available and can be managed via the app.
Can disposable cards be created?
Disposable or temporary cards may be available for secure online use.
Is multi-currency account functionality supported?
Multi-currency accounts are not widely supported; operations are focused on NGN.
Are there investment products?
Investment options include fixed deposits, savings, and select bond offerings.
Can interest be earned on balance?
Interest accrual is available on savings and fixed deposit accounts.
Are there credit products?
Credit products include personal loans, salary advances, and business loans.
Is P2P trading supported?
Peer-to-peer trading is not a core feature; only standard transfers are supported.
Can cryptocurrencies be bought/sold?
Cryptocurrency trading is not supported.
Is there acquiring for business?
Merchant acquiring for businesses is available through POS and digital payment solutions.
Are mass payouts supported?
Mass payouts and bulk payment services are available for business customers.
Is there a loyalty program in the service?
Loyalty programs exist, awarding points or cashbacks on select transactions.
How are bonus points earned?
Points are earned based on transaction volume and qualifying activities.
Is there cashback for operations?
Cashback may be offered for payments and purchases under specific promotions.
Are there referral programs?
Referral bonuses are periodically provided for inviting new customers.
What privileges do VIP clients have?
VIP clients receive priority service, higher transaction limits, and better pricing.
Are there seasonal promotions and offers?
Seasonal offers and promotions are launched throughout the year.
Can premium status be obtained?
Premium status can be requested based on account type, balance, and transaction history.
Are there partner discounts?
Partner merchant discounts are periodically available to account holders.
Are there corporate loyalty programs?
Corporate clients may access dedicated loyalty and bulk payment benefit programs.
Does the service allow operations with online casinos?
Transactions with online casinos are restricted in line with Nigerian banking policy.
Are there restrictions on gambling transactions?
The bank generally restricts gambling-related transactions as per regulatory guidance.
Can accounts be blocked for casino play?
Accounts may be blocked for suspected gambling activity violating banking policies.
How does the service view gambling?
Polaris Bank adheres to CBN guidelines and discourages unauthorized gambling-related transactions.
Are there special conditions for gambling?
Special conditions are not offered for gambling transactions.
Are casino transactions tracked?
Transactions are monitored to ensure compliance with regulations.
Can operations with gambling sites be hidden?
Transaction transparency is maintained; hiding gambling payments is not supported.
Are there notifications about gambling expenses?
Gambling transactions appear in statements and may trigger alerts for unusual activity.
Are there special fees for gambling operations?
No special fees; standard transaction fees apply.
Can limits be set on gambling?
Spending controls may be set by customers or mandated by regulations for gambling-related transactions.
Is there a self-exclusion function?
Self-exclusion options are not detailed by the bank for gambling transactions.
Can access to gambling sites be restricted?
Polaris Bank does not provide direct restriction but card blocks may apply to certain MCC codes.
Is gambling expense control supported?
Gambling expenditure management is not a standard feature.
Are there notifications about limit exceedance?
Alerts notify users upon exceeding set limits, including on gambling spend.
Can operations with casinos be blocked?
Casino transactions may be blocked in accordance with Nigerian banking compliance.
Is there gambling expense statistics?
Gambling statistics are not a standard feature on Polaris platforms.
Is a "cooling-off period" supported?
Cooling-off period features are not promoted for gambling.
Can help be obtained for gambling addiction?
Support is available through regulatory and independent organizations; the bank may guide affected customers.
Is there partnership with player assistance organizations?
No specific partnerships with gambling addiction support organizations are detailed.
How to set up gambling expense notifications?
Notification settings for transactions can be configured via the app or online banking.
Which online casinos accept this payment method?
Online casino acceptance is limited and subject to compliance with Nigerian regulations.
Are there exclusive partnerships with specific casinos?
No exclusive casino partnerships are promoted.
Do conditions differ when used in different casinos?
Casino transaction policies depend on regulatory and merchant-specific conditions.
Are there special bonuses for using this method in casinos?
No casino-specific bonuses are advertised for Polaris Bank accounts.
Can the method be used for both deposits and withdrawals in casinos?
Deposits and withdrawals with casinos are not supported due to regulatory policy.
Are there geographic restrictions for casino usage?
Usage is restricted within Nigeria according to regulatory guidance.
How do casino operators typically process transactions from this method?
Casino operators require regulatory-compliant transactions, which may not be supported by Polaris Bank.
Are there typical processing times when used with casinos?
Processing times follow regular bank guidelines, subject to regulatory approval.
Do casinos usually charge additional fees for this method?
Any casino-related fees depend on the merchant; Polaris Bank standard fees apply if processed.
Are there any known compatibility issues with major casino platforms?
Compatibility issues exist due to regulatory prohibitions against gambling transactions from Polaris Bank accounts.