Prestmit Extends Zero-Fee Naira Virtual Account Top-Ups

In Short

Prestmit has extended its zero-fee top-ups for Naira Virtual Bank Accounts until the end of the month.

What Happened

Prestmit posted a customer update saying it will keep “zero-fee Naira Virtual Bank Account top-ups” available until month end.

A Naira Virtual Bank Account is a local bank transfer account number that can be used to fund a wallet or app balance, similar to paying into a regular bank account. “Top-ups” are those incoming transfers or deposits that add money to the account.

Zero-fee here means users do not pay the extra charges that can come with funding methods, depending on the channel. Prestmit did not share new pricing details beyond the extension, or any limits on how many zero-fee top-ups a customer can make.

The company framed the change as a response to user feedback, and said it is giving customers more time to fund their accounts.

Why It Matters

Fees matter in Nigeria’s digital payments market because users often move money in small, frequent amounts. Even minor charges can change which apps people use for everyday transfers.

For fintechs, fee waivers can also be a short-term incentive to drive more usage of a specific funding rail, such as bank transfers into a virtual account. It can reduce drop-offs at the point where a user tries to add money, especially for new customers testing an app.

The open question is what happens after month end. If fees return, users may shift their funding habits again, depending on reliability and total cost across bank transfers and other deposit methods.