Fidelity Bank has restored transfers to neobanks OPay, Palmpay, Kuda, and Moniepoint a few weeks after it blocked them due to rising fraud and customer verification concerns.

Fidelity Bank has reinstated customer transfers to neobanks like OPay, Moniepoint, Palmpay, and Kuda, sources at the neobanks have confirmed. TechCabal reported that the bank blocked customer transfers to the affected neobanks two weeks ago over rising fraud and customer verification concerns.

“We have been in talks with them [Fidelity], so we knew when they were going to restore us,” a source at one of the affected neobanks told TechCabal. The reinstatement of transfers comes after a regulator, the Nigeria Inter-Bank Settlement System (NIBSS), expressed its displeasure with Fidelity Bank’s decision to block transfers to these banks, one source close to the matter said.

Several customers first noticed that these neobanks were no longer listed on the Fidelity Bank app’s list of approved financial institutions. OPay denied being affected by the restrictions, despite customer complaints. A source at Moniepoint confirmed the restriction while Sofia Zab, Palmpay’s Chief Marketing Officer, told TechCabal that the neobank’s removal was not due to any perceived issues with PalmPay but due to a necessary system upgrade on Fidelity Bank’s side.

Neobanks have become increasingly popular and helpful after a policy-driven cash crunch, making them a payment choice. Almost instant transaction speeds and lower fees make these neobanks darlings to merchants and vendors in the country, helping them receive customer payments and scaling their businesses. Blocking transfers to these neobanks meant Fidelity Bank lost revenue from transaction fees.

Source: https://techcabal.com/2023/10/27/breaking-fidelity-bank-restores-transfers-to-opay-moniepoint-and-palmpay/

See Previous Thread As Obtained By - https://www.nairaland.com/7889605/fidelity-bank-blocks-transfers-opay

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Nice move..

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Nice move..

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Mostly bad news

Hmm

The first step towards avoiding a problem is seeing them

I don't know Fidelity Bank. For now, opay and palmpay are better than them.
Since we survived the war of Emefiele, no bank has good internet transactions like opay and palmpay. Our prayers are for them to not carry our money disappear one morning. If not, them suppose don dey operate virtual sotey them go get branches with sexy cashiers nationwide. And you can imagine how pretty their staff ll be if their services are so good so far. Unlike those menopause face looking ladies in Union Bank.

No bank, not even GTBank or First Bank has good internet banking services.
Rather, one of the old generation banks became miserable, am talking about Zenith Bank. Their life's spoiling daily.
Access Bank on its own ll do good today and bad tomorrow.
The last time I used a UBA Bank in my locality, the female staff there were most late 30s and 40something year old over stressed no makeup, smelly hair looking cashiers that are too sluggish to work. I tire for all of them.
Infact, which bank is the best?
I don't know.

Ooay is the bomb

they are all even better than Fidelity

Nice move 👍

I thought it was an error

Gone are the days when those major banks were doing yanga. You snooze we dump you.
Fidelity Bank that will soon perish wan show themselves. Instead of them think of how to stay alive , relevant and upgrade. They want to bully the Neo banks. 😂

E go shock them.
God Bless the Neo Banks. We don too suffer from the so called Commercial Banks

Fidelity Bank no get brain

Jelosi don finish now now??

Na dem sabi

Opay, Monniepoint are more reliable than Fidelity Bank.

Better

Lol!!How many people still Dey go bank nowadays?
Since You can easily pay your bills,transfer money ,anything you wants to do with this digital apps.

They acted fast if not all their customers for join OPAY

Ok

God bless Fidelity bank. Very responsible bank

Yeye bank. Instead of adapting to new innovations, jealousy wants to kill them.

Nonsense and Fidelity

If dem like.....

Jealousy