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CBN Directive on Cash Lodgements: Our Solutions

Category: Investors NewsBeat

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CBN Directive on Cash Lodgements: Our Solutions

 December 2, 2011

FCMB is pleased to inform you that we have put together a variety of products to help you manage this transition with minimal negative impact to your business. This communication will be sent to you in two parts – Payment and Collection Options and Electronic Products.

Point of Sales (POS) Terminals – A solution for your electronic sales collection as your customers can make payments for goods/services using their cards. The POS terminals can also be linked to your billing, accounting and inventory management system and used for various other transactions including:

  • *Cash-back to customers (to help reduce physical cash at your premises)
  • *Air time recharge
  • *Bill payment – PHCN, DSTV, etc
  • *Mini-statement printing

FCMB Instant Pay – The best alternative to cash payments currently available in the market as beneficiaries receive funds instantly, FCMB Instant Pay is an account-number-based, online real-time Inter-Bank Funds Transfer product. Instant Pay can be accessed by you at our branches, using our Internet Banking, Mobile and Web (e-Commerce) platforms. It is also available to non FCMB account holders.

Direct Debit transfer – An ideal solution for collecting frequent small cash deposits - collection of insurance premiums, utility, cable etc. – from any bank in Nigeria. It also provides an efficient platform to draw funds from your account across banks and enables streamlining and automation of the collection process.
Inter/Intrabank payments via the internet – FCMB Internet banking solutions support all payments modes available such as:

  • *RTGS
  • *NEFT
  • *Instant funds transfer
  • *Prepaid Card Schemes for manufacturers

FCMB’s Mobile Banking: With our Mobile Banking solution funds are transferred and beneficiaries receive credit into their accounts instantly. Cash can also be withdrawn from FCMB ATMs for non-account holders. For details of Mobile money/agent solutions that will assist you in dispensing of cash please note the contact details below.
For all other further enquires on any of our solutions kindly contact your relationship manager or our Transaction Banking team. You may visit any FCMB branch closest to you, call our contact centre on 01- 2798800, 0700FCMBMyBANK or send a mail to



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