PalmPay — Zero Transfer Fees, Banking in Your Pocket
PalmPay is a mobile finance app by PalmPay Limited designed to simplify everyday banking tasks — transfers, bills payment, airtime & data purchases, savings, and small loans — all from your smartphone. It targets users who want an affordable and simple alternative to traditional banking.
Key Features
- Unlimited free transfers: Send money to all banks without transfer fees.
- PalmPay debit & ATM card: Request a physical card for POS, ATM and online spending.
- Airtime & data bundles: Top-up airtime and buy network-specific or social/data bundles.
- Savings & wealth tools: Products like Cashbox and SmartEarn to help you save and earn interest.
- Personal loans: Short-term loans through partners with flexible repayment terms.
Savings & Loan Products
PalmPay provides several financial products to help users manage and grow money:
- Cashbox: A savings wallet that typically pays interest on deposits and often allows scheduled contributions.
- SmartEarn: Higher-yield savings with instant withdrawals and no redemption fees.
- Loans: Through licensed partners (for example Blooms MFB Ltd.), PalmPay offers loans with terms ranging from 61 days up to 6 months and amounts typically from ₦2,000 up to ₦500,000 depending on eligibility.
Security & Compliance
PalmPay emphasizes security and regulatory compliance. Key security points include:
- NDIC insurance for eligible customer deposits.
- Transaction monitoring to detect fraud and anti-money laundering (AML) screening.
- PCI-DSS aligned transaction security and encrypted data-in-transit.
- Compliance with local data protection and financial regulations.
Real User Feedback
What users like
- Reliable and easy-to-use interface.
- Cost savings from zero-fee transfers.
- Wide set of integrated services (airtime, bills, savings).
Reported issues
- Loan approval delays or denials for some users.
- Customer support responses can be slow in certain cases.
- Occasional complaints about BVN linking or third-party resolution when loans involve partners.
Why Choose PalmPay?
PalmPay is ideal if you want a single app for everyday financial tasks without transfer fees. It combines payments, prepaid services, savings, and credit within one mobile interface — which is particularly convenient for users who prefer to reduce the number of apps they manage.
Quick Specs
- Category: Finance
- Platform: Android (Google Play)
- Developer: PalmPay Limited
- Price: Free to download
FAQ
- Is PalmPay safe to use?
- Yes — PalmPay follows standard industry practices including transaction monitoring, encryption and compliance with local regulations. Deposits may be covered by NDIC insurance where applicable.
- Are transfers really free?
- PalmPay advertises zero-fee transfers — however, check the app for any limits or updated terms as promotions and policies can change over time.
- Can I get a physical debit card?
- Yes — the PalmPay app allows users to apply for a physical debit/ATM card for POS, ATM withdrawals and online payments.