What are the deposit and transaction limits, and how can I deposit money into my Northquest account?
To effectively manage your Northquest account, it is essential to understand the deposit and transaction limits, as well as the process for depositing money. Below is a comprehensive guide to help you navigate these aspects.
KYC Requirements
Before you can fully utilize your Northquest account, including depositing and holding funds without restrictions, you must complete the Know Your Customer (KYC) process. This involves:
Adding your BVN (Bank Verification Number) in the Northquest app.
Setting your payout bank.
Once KYC is complete, your account will be fully functional, allowing you to deposit and hold any amount.
Deposit and Transaction Limits
After completing KYC verification, the following limits apply to your Northquest account:
Deposit Limits: There is no overall limit on the amount you can deposit and hold in your account. However, the maximum deposit per transaction is 90 million naira.
Outgoing Transfer Limits: The maximum amount for a single outgoing transaction is 10 million naira.
How to Deposit Money
Depositing money into your Northquest account is straightforward. Follow these steps:
Complete the KYC process as outlined above.
Navigate to the Dashboard in the Northquest app and select Add Money.
Your virtual account number will be displayed. Copy this number.
Use the virtual account number to make a transfer or deposit from your bank.
When making the transfer, select Paystack-Titan as the receiving bank. Do not select Northquest Finance, as this may result in routing issues.
Additional Notes
You can deposit any amount into your account, including small amounts like ₦200, once KYC is complete.
To start a specific plan, a minimum deposit of ₦500 is required.
By following these guidelines, you can efficiently manage deposits and transactions in your Northquest account.
Related Topics
How to complete KYC verification in the Northquest app
Managing outgoing transfers from your Northquest account