You can send Nigerian Naira (NGN) from your KAST account to any bank account that supports NGN transfers, wherever you are, using KAST Pay. In this article, you’ll learn how to send NGN to a bank account, what fees and timelines apply, and what to do if your payout doesn't arrive as expected.
How Do I Send NGN from KAST?
With KAST Pay, sending NGN is quick and simple:
| 1. Open the KAST app. | |
| 2. Go to the Pay tab. | |
| 3. Under New Payment, select Fast Payout. | |
| 4. Choose NGN as your payout currency. | |
| 5. Choose whether to transfer to your own account or to someone else. | |
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6. Enter the amount you wish to send. |
| 7. Enter your recipient’s bank details. | |
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8. Review the details and confirm your transaction. |
Your funds are converted at the current FX rate, and you’ll see all fees and delivery times upfront before confirming your payout.
What are the Fees for NGN Payouts from KAST?
KAST uses transparent pricing for every NGN payout:
| Detail | What It Means | Amount |
|---|---|---|
| FX Conversion Fee | Rate applied when converting stablecoins to NGN. | 1% |
| Transfer Fee (Fixed) | Flat fee for processing your payout. | 2 USD |
What is the Minimum Amount Threshold for NGN Payouts?
The required minimum payout for NGN transfers is 5,000 NGN. This threshold helps ensure smooth processing and maintains consistent payout standards across supported banking networks in Nigeria.
Which Banks Can Receive NGN Payouts?
You can send NGN to local banks in Nigeria that support naira-denominated transfers, including:
- Major Nigerian banks (GTBank, Access Bank, Zenith Bank, First Bank of Nigeria, UBA, etc.)
- Most regional and digital banks that accept NGN deposits.
Tip: Always confirm with your recipient’s bank that their account can receive NGN deposits before sending.
How Long Does It Take for NGN Payouts to Arrive?
NGN payouts typically take less than 24 hours after confirmation. Transfers made outside regular banking hours or during public holidays will be completed on the next working day. You’ll receive a confirmation in your KAST app once your payout is delivered.
Can I Send NGN to Someone Else’s Bank Account?
Yes. You can send NGN to another person’s bank account, provided all details are entered correctly. Make sure the recipient’s name, account number, and bank name are accurate to prevent errors.
Incorrect details may cause the transaction to fail or be refunded, so always review carefully before confirming.
What If My NGN Payout Hasn’t Arrived?
If your payout hasn’t arrived after the expected time:
- Check your Transaction History in the KAST app.
- Verify your bank details for accuracy.
- Contact your bank to confirm if the transfer is pending.
- If still unresolved, reach out to KAST Concierge.
For troubleshooting, see: What Should I Do If My KAST Payout Hasn’t Arrived Yet?
Frequently Asked Questions
Do I need to complete KYC before sending NGN?
Yes. Completing KYC verification is required before using KAST Pay. This ensures compliance with local financial regulations and keeps your transactions secure.
Why does my NGN payout sometimes take longer to arrive?
Slight delays can occur if transfers are made after banking hours or during holidays. Occasionally, banks perform compliance checks on large or first-time transfers, which can add a short delay.
Can I cancel or edit an NGN payout after confirming?
No. Once confirmed, NGN payouts are immediately processed and cannot be canceled or changed. If you entered incorrect details, contact KAST Concierge as soon as possible for help.
What happens if my payout fails?
If your payout fails because of invalid or incomplete information, your funds will be returned to your KAST balance automatically once the payment is reversed. You’ll be notified once the refund is completed.
Can I send NGN from anywhere?
Yes. You can send NGN from any country supported by KAST, as long as the recipient’s bank account accepts NGN transfers. This makes it easy to send or receive funds across borders in local currency.