Skye Bank is now Polaris Bank. This was following a license revocation by the Central Bank of Nigeria (CBN). Polaris Bank then took over the management of the then Skye Bank along with all it’s assets and liabilities. The Bank soon became Polaris Bank Limited.
All former Skye Bank branches are also now Polaris Bank. Of course if you are like me as are most Nigerians, you are yet to grasp and identify with the new bank name. But this is only a matter of time.
However, all commercial and other activities of the bank remain the same and are running smoothly.
In the words of the CBN Governor, Godwin Emefiele,
“Skye Bank requires A very urgent recapitalization as it can at the moment no longer continue to live on borrowed funds with indefinite liquidity support from CBN.
CBN have with immediate effect decided to establish a bridge bank, Polaris Bank, to assume the assets and liabilities of Skye Bank.
The initiative is for AMCON to capitalize the bridge bank and begin the process of sourcing investors to buy out AMCON. By this decision, the licence of Skye Bank is hereby revoked.”
However during it’s time, Skye Bank was one of the leading banks in Nigeria. It had over 373 branches in Nigeria and began its operations in 2006.
Polaris Bank Transfer Code
In fact, the new Polaris Bank had developed the money transfer code as one of its first initiatives in satisfying her customers. Here is everything you need to know about the code. The benefits and why you should use it as well as how you can use it.
Benefits of The Polaris Bank Transfer Code
The Polaris Bank Money Transfer Code is in form of a USSD code. This code allows customers to perform their transactions with ease and much more than the name suggests, customers can use the code via USSD or via SMS. They can now perform their Bank transactions on the go
Some of these transactions that can be performed using the code include money transfer, airtime recharge, bills payment, balance enquiry and so on.
The benefits of the service are that:
- It can be accessed at any time of the day. The code operates for 24 hours
- The daily transfer limit is up to #500,000 thereby taking care of emergencies
- You do not need an internet connection to use the code
- It can work right from your phone.
Getting Started With Through Money Transfer Code
To begin using the USSD code, you must first register. You can do this by using the phone number linked with your bank account. Below is the procedure to help you achieve that:
- Simply dial *833#
- Follow the instructions that appear and choose a pin
- You are ready to begin using the code.
How To Check Account Balance With The Code
To use the code to check your account balance, simply dial *833*6#.
To use for other transactions, dial *833# and follow the prompts.