Microfinance Bank all over the world has help to promotes financial inclusion, offering a suite of products which include Savings, micro credit loan to small business owners and entrepreneurs to access working capital.
Without microfinance, small and individual business couldn’t have access to traditional loan due to high risk involve , most would have depend on payday loan and personal loan which often not available to them due to collateral security.
However, the interest rates for these microloans are often very high due to the risk of default Sometimes, those who receive microloans are required to take training courses.
Microfinance banks are designed to provide micro credit facility as “microloan” to mall business owners who are unable to access the type of capital needed to uplift their businesses from commercial banks or kick-start their entrepreneurial dreams.They also allow entrepreneurs to have a savings account with no minimum balance.
Our focus on this article, we shall discuss USSD (Unstructured Supplementary Service Data) for transaction as adopted by MFB’s in Nigeria.
Please note: Corporate Account, Association & Joint Account are excluded from using ussd code and the service is available to all MTN, Airtel,Glo & 9Mobile subscribers.
AB Microfinance Bank Nigeria USSD Code
Before AB Microfinance bank customers can make use of their ussd code they need to register for it via the phone number that is link to their bank account.
1. dial *389*755# then follow the instruction.
2. input your account number or your ATM card number.
3. Input your secret Pin code that will enable you authorize financial transaction
How to transfer money, buy airtime and data using AB Microfinance USSD CODE.
To transfer money to bank of your choice, or buy airtime and data, account holder should simply dial *755# and follow on prompt message to choose any financial transaction of your choice
Mainstreet Microfinance Bank USSD Code
To register for Mainstreet MFB customer should simply dial *540*394# and follow the onscreen message to complete your registration process.
The mainstreet MFB ussd code will enable account holders to transfer to any Bank of your choice, For Airtime top-up (Any Amount, Anywhere & Anytime) And Balance Enquiry from your comfort zone.
The good news is that the service is 24/7 and customers don’t need to have internet connection before they can carry out their transaction and it work with all kind of phone.
FINCA MICROFINANCE BANK LTD USSD CODE
To enroll for Finca Microfinance bank ussd code customers need to visit any of FINCA branches and get enrolled. Your account must be owned by a sole signatory, have BVN and there must be no restriction on your account.
Finca Microfinance bank ussd code for all financial transaction is adumbrated below.
1. Check Balance *322*342*0#
2. Self Recharge *322*342*amount#
3. Buy Airtime *322*342*phonenumber*amount#
4. Interbank Transfer *322*342*accountnumber*amount#
5. Merchant Payment *322*342*merchantcode*amount#
6. Pay DSTV/GOTv *322*342*billercode*smartcardnumber*amount#
Finca MFB loan facility include: Individual Loan; Group Loan; School Improvement Loan; School Fees Loan; and Small Enterprise Loan.