VFD bank full meaning, all USSD codes for transfer, balance and others
Have you ever wondered what VFD Bank's full meaning is? VFD Bank is one of the leading banks in Nigeria’s fast-growing customer base. The bank prides itself on supporting growing business and innovation in different sectors of the economy. To ease clients' access to its banking services, the bank has introduced the use of USSD codes, which enable you to perform various transactions in the comfort of your house or office.
Source: UGC
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VFD Microfinance Bank is one of the first few banks in Nigeria to embrace digital banking and currently boasts over 500 thousand active individuals and businesses on its platform. It offers several services, including account opening, fund transfer, purchase of airtime, and payment of bills. Discover VFD bank's full meaning and all its USSD codes.
What is VFD Bank's full meaning?
Previously, VFD was an acronym for Viadaz Finance Discounting Group. Now, VFD is a stand-alone name, with V representing the virtual banking platform it wants its customers to experience.
Vbank is VFD Microfinance Bank’s virtual platform, established in March 2020. As of this writing, over 500,000 customers in Nigeria have joined it.
VFD Bank USSD codes
VFD Microfinance Bank launched a code its customers can use to access its banking services from their phones without necessarily visiting its banking premises. The general USSD code is *5037#.
When dialling the USSD code, customers can find several options, and they can select whichever they want for a specific transaction. Below is a list of VFD bank USSD codes and steps for promising some of the transitions.
| Transaction type | USSD code |
| Self airtime top-up | *5037*1*amount# |
| Top up airtime for another number | *5037*2*amount*beneficiary’s phone number# |
| Data top-up | *5037*3*amount# |
| Transfer to Vbank account | *5037*4*amount* NUBAN account number# |
| Transfer to other banks account | *5037*5*amount* NUBAN account number# |
| Betting | *5037*6# |
| Cable TV | *5037*7# |
| Other bills | *5037*8# |
| Check account balance | *5037*9*1# |
| Cardless withdrawal | *5037*9*2# |
| Reset pin | *5037*9*3# |
| Activate ATM card | *5037*10# |
| Block account or card | *5037*9*5# |
| OTP generation | *5037*9*4# |
VFD Bank USSD code activation
Source: Getty Images
Having a VFD Bank account does not mean that you can use its USSD code. Therefore, to transact with the code, you must activate it on your phone. Here are the simple steps for activating the USSD code.
- Dial *5037#.
- On the menu that appears, choose registration.
- Enter the last six digits of your VFD Bank account.
- Choose and enter a 4-digit Personal Identificant Number (PIN) for the USSD service. The PIN must not necessarily be the same as your ATM PIN.
- Enter the PIN for the second time to confirm it.
- You will receive a message from them confirming the successful activation of the USSD code service.
VFD Bank account opening using USSD code
If you want to open a VFD Bank account, dialling *5037# on your phone will only prompt you to do so. You will then follow the instructions, including your personal details, such as name, identification number, date of birth, address, and official phone number.
Ensure you input the correct details, as incorrect information will automatically lead to rejection. You will also choose a PIN to authorise your transactions and complete the account opening process.
How to check VFD account balance
As an account holder, you will occasionally want to know your balance, especially after completing several transactions. You can easily check your balance using the VFD bank code in a few simple steps.
- Using the phone number linked to your VFD bank account, dial 5037#.
- On the menu that appears, choose option 9 for account balance.
- Select option 1 and enter the VFD bank account number you want to check its balance.
- Complete the process by entering your four-digit PIN, and your balance will be displayed on the screen.
How to transfer funds via USSD code
One of the most common transactions by bank account holders is fund transfer. You may want to send funds to VFD bank account recipients or recipients of other banks in Nigeria. Here is a step-by-step guide on how to transfer funds.
- Using the phone number linked to your VFD bank account, dial 5037#.
- Choose option 4 for fund transfer.
- Enter the recipient’s VFD bank account number.
- Enter the amount you would wish to transfer.
- Enter your four-digit PIN to complete the transaction.
However, if the recipient does not have an account with VFD Bank, you can follow the following steps to send the funds.
- Using the phone number linked to your VFD bank account, dial 5037#.
- Choose option 5 on the menu that appears.
- Select the recipient’s bank from the list of banks that emerge.
- Enter the recipient’s bank account number.
- Enter the amount you would wish to transfer.
- Enter your four-digit PIN to complete the transaction.
How to top up airtime via USSD
You do not have to withdraw money from your bank account to purchase airtime. You can buy airtime directly from the account using a VFD bank USSD code. Here is a guide on buying airtime.
- Using the phone number linked to your VFD bank account, dial 5037#.
- Choose option 1 for airtime purchase.
- Enter the amount of airtime you want to purchase.
- Enter your four-digit PIN to complete the process.
How to pay bills via USSD code
One of the most important uses of the VFD bank code is paying bills. You can use the code to pay various bills, such as betting, cable TV, electricity, and internet services. Here is a guide on how to do it.
- Using the phone number linked to your VFD account, dial 5037#.
- Choose the bill you would like to pay.
- Select the biller category, biller type, and package/product.
- Enter your account number with the biller.
- Enter the amount you would like to pay.
- Enter your four-digit PIN to authorise the transaction.
VFD Bank app
Source: Getty Images
Alternatively, you can use the VFD Bank app to access its various services and products. This VFD Bank online banking platform is convenient for smartphone users who can download and use the application.
The app is V by VFD and is available for Android and iOS users. Below are links to download the app to your phone.
- For Android phones on Play Store.
- For iOS devices on the App Store.
VFD Bank customer care
Are you having issues with the VFD Bank transfer code? You may experience problems using the codes and not know how to find a solution. You should contact VFD Bank customer care service for help in such a case. Here are multiple ways you can contact customer care.
Visit its official website and click on the live chat box at the screen's bottom left corner to chat with an agent.
- Email address: support@vbank.ng
- Call: 02012271396
- Social media handles: Instagram page, X (Twitter), Facebook account
Why should you use the VFD Bank transfer code?
Using the USSD code to access its services and products accrues several benefits. Below is an outline of these benefits.
- It is highly secure – Using a PIN to authorise transactions means you have complete control of your bank account, and no one can access it.
- You can access your account at any time – With the USSD code, you can transact at any time of the day. Even though the physical bank opens and closes at specific times, the USSD code runs throughout the day.
- There is no need for the internet – The USSD code is usable without the internet, so customers with feature phones are not left behind.
- Usable regardless of your mobile network – The USSD code is not mobile network specific, so it is the same irrespective of your mobile network.
- Highly convenient – You do not have to visit the bank to transact. The USSD code allows you to make several transactions in the comfort of your home or office.
Who is the CEO of VFD Bank?
Nonso Okpala is the bank's CEO. According to his LinkedIn profile, he came into office in 2016 and has held the position for approximately eight years. He has extensive experience in the banking and finance sector, having worked for multiple financial institutions.
Are there charges for using the VFD Bank transfer code?
Like other banks, VFD Bank charges a small fee for using the USSD codes. The cost is usually deducted from the customer’s airtime balance. Therefore, you should have an airtime balance to use the bank’s USSD codes.
What is the full meaning of VFD?
VFD Microfinance Bank is a subsidiary of VFD Group. Originally, VFD stood for Viadaz Finance Discounting, but today, it is the bank’s name, with V representing a virtual platform on which the bank operates.
Before the bank assumed the acronyms as its name, VFD bank’s full meaning was Viadaz Finance Discounting. Today, the V in Vbank means a virtual platform on which the bank operates. The bank’s USSD code allows its customers to access its various services and products, including account opening, buying airtime, and paying various bills.
DISCLAIMER: This article is not sponsored by any third party. It is intended for general informational purposes only and does not address individual circumstances. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind. Any action you take upon the information presented in this article is strictly at your own risk and responsibility!
Legit.ng recently published a compilation of Polaris Bank transfer codes. The bank is one of the biggest in Nigeria, with branches in several parts. However, it has brought its services even closer to clients by using the USSD codes.
Polaris Bank transfer code allows you to execute multiple transactions without visiting the bank. You can conveniently buy airtime, pay bills, and transfer funds. Check out this article to find Polaris Bank USSD codes for various transactions.
Source: Legit.ng
