Polaris Bank: USSD Code, Transfer Charges, SWIFT Code & Rates
Commercial bank · Polaris · 35 Lagos branches · ₦5M NDIC coverage
Budget commercial banking. Low minimum balances. Good for basic savings.
Successor to Skye Bank (2018 bridge bank). 350+ branches. VULTe digital banking platform. Low minimum balance requirements.
Polaris Bank is a Commercial bank (CBN-licensed, NDIC-insured) founded in 2018 (8 years ago), operated by Strategic Capital Investment. As of 2026 it serves approximately 6M+ customers through 350 branches nationwide.
- Founded
- 2018 · 8 years serving Nigerians
- Parent company
- Strategic Capital Investment
- Customer base
- 6M+
- Branches nationwide
- 350
- Bank type
- Commercial bank (CBN-licensed, NDIC-insured)
- Website
- polarisbanklimited.com
- Address
- 3 Akin Adesola Street, Victoria Island, Lagos, Lagos
If you make 20 transfers, 4 other-bank ATM visits, and 30 SMS alerts per month:
₦1,440 more than Kuda (₦2,400/yr). That's 0 bags of rice.
Compare with all 23 banks →Time to open: 15 minutes · Online via app
- Bank Verification Number (BVN)Mandatory for all Nigerian bank accounts. Get one at any bank branch for free.
- Valid IDNational ID (NIN), International Passport, Voter's Card, or Driver's Licence.
- Passport photographRecent passport-sized photo. The mobile app may accept a live selfie instead.
- Utility billAddress verification. Electricity bill, water bill, or tenancy agreement (last 3 months).
- Minimum opening balance₦0 for savings accounts. ₦5,000-₦10,000 for current accounts.
Polaris emerged from CBN's 2018 resolution of Skye Bank — one of the few bridge-bank rebuilds in Nigerian banking history.
Consolidated retail banking app rolled out post-restructuring. Focus on core transactions and USSD parity.
Post-restructuring focus on SME banking as a growth lever — dedicated SME accounts with reduced maintenance fees.
AMCON sold Polaris to Strategic Capital Investment in 2022. Product and structure changes still filtering through.