ARM Securities NUBAN Account Numbers FAQs

By May 28, 2020Research

What is the ARMS NUBAN Account Numbers?

This is a new payment solution available for clients to make payments to their ARM Securities investment accounts via bank transfers, internet banking, USSD and any other funds transfer channels using a unique bank account number.

How does it work?

A unique NUBAN account number is generated and linked to your stocktrade account. This ensures that once payment is completed using the unique NUBAN account number, the funds are automatically credited to your cash account.

Can I use my account number for other payment services?

No, you can’t. The NUBAN account number can only be used to fund your stocktrade account.

Who can use Monnify?

Monnify can be used by all existing ARM Securities clients who have active stocktrade accounts.

What is the benefit of using Monnify?

Monnify provides the opportunity to:

  • Fund your stocktrade account directly via bank transfers, internet banking, USSD and any other fund transfer platforms
  • Receive funds from friends and family straight into your stocktrade account
  • Enjoy swift remittance of invested funds into your stocktrade account

    How much does it cost to use Monnify?

A transaction fee of 0.54% of the amount (maximum cap of N100.00) is charged per transaction. This fee will be deducted from the total amount transferred and the net amount will be settled to your stocktrade account.

Is there a limit to the amount that can be transferred?

No, any amount can be paid using your unique NUBAN account number. The limit is only subject to your bank’s fund transfer limits

Are my funds settled immediately?

Yes, all payments are automatically credited to your stocktrade cash account on the same day within minutes.

How safe is it?

It is 100% safe. Money paid using the NUBAN account number can only be settled to your stocktrade account.

What happens if my payment is successful, but I don’t receive value?

If you successfully completed a fund transfer, but your investment account is not credited within 24hours, kindly contact for support.

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