List of Parallex Bank USSD Transfer Codes [2023 Updated]
Have you ever found yourself in a hurry, needing to transfer funds urgently but stuck in long queues at the bank? the Bank has tapped into use of USSD codes. In this article, we’ll explore how these incredible codes work and how they can make your life easier than ever before. Without any further ado, let’s get to know the list of Parallex bank USSD transfer codes.
Table of Contents
What is Parallex Bank USSD Transfer Codes?
Parallex Bank USSD transfer codes are a special set of numbers you will need to select the option for making a transfer. You will then be asked to enter the amount you wish to transfer, followed by the recipient’s mobile number. Once this is done, you will be prompted to enter your 4-digit PIN code to confirm the transaction. You can quickly and easily send money to another person’s bank account or make payments for goods and services.
History of Parallex Bank
Parallex Bank Nigeria is a leading financial institution in the country. It was established in May 2008 and has since grown to become one of the most trusted banks in Nigeria. The bank provides a wide range of banking services to its customers, including personal and business banking, investment banking, and more. Parallex Bank is committed to providing excellent customer service and strives to provide a safe and secure banking experience for all of its customers.
Parallex Bank was one of the first companies to offer mobile banking services in Nigeria and quickly became the market leader. The company’s success can be attributed to its innovative product offerings and its commitment to providing excellent customer service. The bank has a long history of providing excellent customer service and delivering on its promises.
Today, Parallex Bank is one of the most technologically advanced banks in Nigeria with over 200 branches nationwide. The bank offers a wide range of products and services to meet the needs of its customer base. It has evolved into a leading financial institution that is committed to supporting the development of Nigeria.
Read also: Full List of FCMB USSD Transfer Codes
Benefits of Using Parallex Bank USSD Transfer Codes
All you need is your phone and the recipient’s phone number. You don’t need internet access or a data connection.
- The transaction is completed in minutes, so you don’t have to wait for hours or days for the money to arrive in the other person’s account.
- USSD codes are more secure than other methods of sending money, such as SMS or email transfers.
- The codes are encrypted and can only be used on the device that they were generated on, so there is no risk of someone else intercepting and accessing your funds.
Requirements to Activate Parallex Bank USSD Transfer Codes
An active Parallex Bank Account
An active and valid ATM Debit Card
A SIM card linked to the Parallex Bank Account
A recharge credit on the SIM card
How to Activate Parallex Bank USSD Transfer Codes
- Dial *1242*0# on your phone
- Enter your 4-digit PIN when prompted
- Select “Registration” from the main menu
- Input the last 6 digits of your Parallex bank card number
- Input the amount you wish to transfer (in Naira)
- Input the recipient’s 11-digit Nigerian mobile number
- Press “1” to confirm the transaction
Possible Issues with Using Parallex Bank USSD Transfer Codes
There are a few possible issues that could arise from using Parallex Bank USSD transfer codes. For one, if you are not familiar with how USSD codes work, it is possible to accidentally make a payment to the wrong person or account. Additionally, if you lose your phone or have it stolen, someone could potentially access your bank account and make unauthorized transfers.
Another issue to be aware of is that USSD codes can sometimes be unreliable and may not go through if the network is down or having difficulties. It is important to remember that you should never give out your bank PIN or USSD code to anyone, even if they claim to be from your bank. If you do so, you could be placing yourself at risk of fraud or identity theft.
Read also: List of Stanbic IBTC USSD Transfer Codes
Different Ways to Use Parallex Bank USSD Transfer Codes
- Send money to another bank account:
This is useful if you need to transfer money to someone else’s account quickly. All you need is their bank account number and the amount you want to send.
- Pay for goods and services:
You can use Parallex Bank USSD codes to pay for goods and services online or in-store. Simply enter the amount you want to pay and the merchant’s code, and the payment will be processed instantly.
- Recharge your mobile phone:
You’ll need to enter your mobile phone number and the amount you want to recharge, and then confirm the payment. The recharge will be processed instantly, so you’ll be able to make calls or send texts right away.
Security Measures for Using Parallex Bank USSD Transfer Codes
- Do not share your PIN with anyone. Not even our customer service representatives will ask for your PIN.
- Make sure you enter the correct recipient bank account number. Once you have entered the account number, you will not be able to change it.
- Take care when entering the amount you want to transfer. The amount cannot be changed once it has been entered.
- We recommend that you do not use public Wi-Fi networks when making a transaction. If you must use public Wi-Fi, make sure the network is secure and that you have a good anti-virus program installed on your device.
List of Parallex Bank USSD Transfer Codes
- Account Opening: *1242*0#
- For USSD Account Registration: *1242*0#
- Self-Recharge: *1242*Amount#
- Third-party recharge: *1242*Amount*Phonenumber#
- Interbank transfer: *1242*Amount*Accountno#
- Intrabank transfer: *1242*Amount*Accountno#
- Block Account : *1242*911#
Read also: List of Unity Bank USSD Transfer Codes
Frequently Asked Questions
Q: How do I know if my phone is compatible with Parallex Bank USSD Transfer Codes?
A: Any phone that can access the internet can also be used for Parallex Bank USSD Transfer Codes. Simply dial *919# on your phone to see if it works.
Q: Does Parallex Bank has a mobile app?
A: The bank has a mobile app to assist their customers with numerous transactions anywhere they are.
Q: How many branches does this Bank have?
A: Presently, they have between 10 to 15 branches across Nigeria.