How to Transfer Money from Ecobank

If you live in one of the thirty-three African countries where Ecobank is active, you will no doubt have heard of them: Ecobank is one of the largest banking groups in Nigeria and in West and Central Africa more generally. They are also growing fast in East and Southern Africa. Whether you have a bank account with Ecobank or not, you can take advantage of their large network throughout the continent to send money to friends and relatives, to settle your bills or to buy airtime. 

In this article, we’ll show you how to transfer money with Ecobank, whether you want to do so in person, online, or via your phone. We take a full look at its offerings, rates, fees, and more.

How to Transfer Money from Ecobank at a Branch or With an Agent

Ecobank has a large network of branches and agents throughout Africa that allows you to transfer money to anyone in a country within the network through their Rapidtransfer service, even if neither you nor your recipient have an Ecobank account. The service is very simple to use and is extremely fast:

1. Locate your nearest Ecobank branch or agent.
2. Fill in a Rapidtransfer sending form with the details of the transfer, and submit it to a teller along with your valid proof of ID.
3. Pay the amount of your transfer as well as the commission.
4. You will receive a reference number, which you will need to transfer to your recipient.
5. Your recipient then visits their nearest Ecobank branch or agent –– the transfer should be ready immediately.
6. Your recipient fills in the Rapidtransfer receiving sheet with the details of the transfer, and submit it to a teller along with their valid proof of ID.
7. Once the documents’ validity has been checked, the teller will pay out the transaction to the recipient.

When it comes to identifying yourself, Ecobank accepts passports, national ID cards, driver’s licenses, as well as voter ID cards, and, in some cases, company ID cards.

How to Transfer Money Online with Ecobank’s Rapidtransfer Mobile App

If you don’t want to make the trip to an Ecobank branch or agent, or if there isn’t one near you or your recipient, you might be interested in using Ecobank’s Rapidtransfer App, which allows you to send money to and from the thirty-three African countries in Ecobank’s network, as well as from the Eurozone, and countries like the United Kingdom, the United States, Canada, and Australia. You don’t need to be an Ecobank customer, but you will need to have a smartphone with data access, a card with which to fund your transactions, as well as a passport or ID card from one of the countries in which Ecobank is active. Here’s how to use it:

1. Download the Rapidtransfer app on your iOS or Android device.
2. Register using your phone number and ID. You will need to take a picture of your ID and a selfie to verify your identity.
3. Fill in your personal details.
4. Fill in the details of the card you will use to pay for your transfers.
5. You will receive a one-time PIN on your phone, which will allow you to log in and set up your permanent six-digit PIN.
6. Once you are logged in, select your currency, your recipient’s currency (they can be the same), as well as the method of delivery (Availability can vary depending on the currency). You won’t always have to pay a fee, but if you do, depending on the currency and the method you have chosen, you might be able to choose a slower transfer speed in order to lower the transfer fee.
7. You can then create a new recipient by adding their details, depending on the chosen method, or reuse an existing one.
8. Choose the reason for the transfer and select the card you will use to fund it.
9. Review the details before validating the transfer.
10. Dial your pin to confirm the transfer.

How to Transfer Money from Ecobank Using Mobile Banking via USSD

If you don’t want to use a smartphone app and mobile data to transfer money, you can also use Ecobank’s USSD code — sometimes called a transfer code — to access your account and set up banking operations straight from any mobile phone.

What is the USSD/transfer code for Ecobank?

Ecobank’s USSD code varies by country, and the available services can vary by carrier.

• In most African countries, including Nigeria, Burundi, Chad, Guinea, Liberia, Malawi, Mali, Mozambique, Togo and Zimbabwe: *326#
• In Côte d’Ivoire: *158#
• In Ghana: *770#
• In Kenya: *335#
• In Senegal: *2222#
• In Tanzania: *150*18#
• In Uganda: *235#

How to activate USSD/transfer code with Ecobank?

If you already have an Ecobank account, your phone number is registered and you just need to activate the service with the following steps:

1. Dial in your country’s USSD code for Ecobank and press the call button.
2. You will be prompted to select the debit card associated with the account you’re registering. Choose it, then hit proceed.
3. You will then be asked to verify your identity by providing some details. Do so, then hit submit.
4. You will then need to create a secret PIN for your USSD transactions. One you have done so, hit submit.
5. You should then see a confirmation message. You will receive a text message once your registration is activated.

From then on, you’ll just need to dial in your country’s USSD code and you’ll be able to access your bank account straight from your phone, without any need for an internet connection! 

Should I Use Ecobank for International Transfers?

Ecobank offers interesting options for transfers within Africa, if you're considering how to send money from Ghana to Nigeria for example, and is without a doubt a convenient option. If however you’re curious to see all of your different options and especially if you are looking to make international transfers outside of the continent, then we recommend that you check out Monito’s comparison engine to make sure that you are making the right and most beneficial choice for you.