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Fidelity Bank Resumes Transfers To OPay, Kuda, Moniepoint, and Palmpay

Fidelity Bank has reestablished the ability to transfer funds to neobanks including OPay, Moniepoint, Palmpay, and Kuda, a few weeks after temporarily blocking these transactions due to concerns related to rising fraud and customer verification issues. Sources within the neobanks have confirmed that Fidelity Bank has now reinstated customer transfers to these financial platforms. Approximately […]

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Fidelity Bank Restricts Transfers To OPay, Kuda, Moniepoint, Palmpay Over KYC Issues

Fidelity Bank, a Nigerian commercial bank, has implemented restrictions on fund transfers to neobanks like OPay, Palmpay, Kuda, and Moniepoint, citing concerns about their lax Know Your Customer (KYC) processes, which have been linked to a surge in fraud cases. Multiple sources with direct knowledge of the matter have confirmed that Fidelity Bank is now […]