Withdrawals directly to your local bank account in Nigeria have never been easier on the Sentz app! You can now withdraw eUSD to any bank account of your choice and receive Fiat. Below, we have highlighted the steps to completing a seamless bank withdrawal to a local bank account in Nigeria.
Launch the Sentz app and click on "Withdraw" on the app homepage
2. Choose the "Using Bank Account - Withdraw as Naira" option.
3. Type in your withdrawal amount. Please note that the amount you type in is inclusive of a flat $1.1 withdrawal fee. So, if you type in ₦10,000 - your final amount is ₦10,000 minus $1.1 (₦1,400, ₦1,500, or ₦1,200 depending on the current exchange rate)
4. Click on "Continue" and fill in all the required details, including full name, bank name, account name, account number, and phone number.
5. Click on "Continue," type in your password, and you will be connected to a P2P buyer within a few seconds. As soon as you are paired, your payment will be on its way.
6. You can monitor the progress of your transaction on the transaction page. If you wish to contact the buyer (liquidity provider), simply tap on "Contact Support."
7. Depending on your preferred option, you can contact your buyer via email, phone number, or WhatsApp. The "Contact Sentz Support" button will connect you to the Sentz support team.
8. After you send your funds from the Sentz app, you will receive a confirmation email, and your payment will be credited into your local bank account within 30 minutes - 1 hour.
9. Voila! You are done with your Sentz withdrawal to your local bank account.
FAQ:
1. How long does it take for a P2P withdrawal to be completed?
Typically, it takes between 40 mins — 6 hours for P2P withdrawals to be completed. Please ensure that you leave the Sentz app open until your transaction shows "FUNDS SENT TO PROVIDER" before you minimize/close the Sentz app.
Note: P2P withdrawals made from 10:00 pm NG time might not be settled until 9:00 am the following day due to traders being out of service during the night.
2. How long does it take for an Instant Bank withdrawal to be completed?
Typically, it takes between 5 mins — 10 mins for instant bank withdrawals to be completed. Please ensure that you leave the Sentz app open until your transaction shows "SUCCESSFUL" before you minimize/close the Sentz app.
3. Why is my P2P withdrawal still pending after more than 1 hour?
This might occur if you input the wrong bank account details or if there's downtime with the NIBSS (Nigeria Inter-Bank Settlement System). Make sure you double-check the account details you entered first before you escalate to our Support team.
4. Why is my Instant Bank withdrawal still pending after more than 1 hour?
This might occur if you're using any of the Neobanks in Nigeria, i.e OPay, Palm Pay, Moniepoint, Kuda, Sparkle, Carbon, Lotus Bank, FairMoney, etc. If you used any of these Neobanks, contact us via Support and select "Instant Bank Withdrawal" as your complaint type.
5. Which Nigerian bank can I withdraw into on Sentz?
Typically, we support several traditional banks in Nigeria but have experienced issues with Neobanks such as OPay, Palm Pay, Moniepoint, Kuda, Sparkle, Carbon, Lotus Bank, FairMoney, etc. We advise that you only use other traditional banks that exist in Nigeria.