PalmPay: USSD Code, Transfer Charges, SWIFT Code & Rates
Digital bank · PalmPay · ₦5M NDIC coverage
Highest savings rate — SmartEarn up to 22%. Free transfers. Tecno/Infinix-backed.
Backed by Transsion Holdings. SmartEarn feature offers up to 22% interest — the highest savings rate of any bank in Nigeria.
PalmPay is a Digital bank (CBN-licensed, NDIC-insured) founded in 2019 (7 years ago), operated by Transsion / Africa Finance Corp. As of 2026 it serves approximately 35M+ customers.
- Founded
- 2019 · 7 years serving Nigerians
- Parent company
- Transsion / Africa Finance Corp
- Customer base
- 35M+
- Bank type
- Digital bank (CBN-licensed, NDIC-insured)
- Website
- palmpay.com
- Address
- Plot 4B Emeka Anyaoku Street, Ikeja GRA, Lagos, Lagos
If you make 20 transfers, 4 other-bank ATM visits, and 30 SMS alerts per month:
This is the cheapest of the tracked banks at this usage pattern.
Compare with all 23 banks →Time to open: 3 minutes · Online via app
- BVNBank Verification Number. Get one at any bank branch if you don't have one.
- Nigerian phone numberFor OTP verification during signup.
- Live selfieFacial verification — matched against BVN photo.
The highest savings rate in Nigeria. Lock funds for 30-365 days and earn up to 22% annually.
PalmPay comes pre-installed on all new Tecno, Infinix, and itel phones — 200M+ devices.
Buy airtime at face value — no service charge, no markup. ₦1,000 airtime costs ₦1,000.
Weekly locked-savings challenges — save ₦X for Y weeks and earn bonus interest on top of standard rate.