Linking NUBAN Payout Accounts & Verification
Connect your Nigerian commercial bank account for automated sales settlement
How Payout Accounts Work
Your Payout Account (`StoreBankAccount.ts`) is the official commercial bank account where funds from your customer sales are settled.
To protect vendors from misrouted transfers, Teyweb uses automated real-time NUBAN bank verification before any bank account can be saved.
Step-by-Step Account Linking
1. Log in to your merchant dashboard at app.teyweb.com.
2. Navigate to Payments > Payout Account.
3. Select your bank from the dropdown list of all licensed Nigerian commercial banks.
4. Enter your 10-digit NUBAN account number.
5. Click "Verify Account". Teyweb contacts the central interbank switch to resolve the registered account holder name.
6. Verify that the returned name matches your legal business name or director name, then click "Save Payout Account".
Real-Time NUBAN Name Resolution
Teyweb queries the Nigerian Inter-Bank Settlement System (NIBSS) to verify the account details. If you enter an invalid account number or choose the wrong bank, an error is displayed immediately, preventing failed future payouts.
Name Consistency Requirement
For security and fraud prevention, the resolved bank account name should closely match the legal business name or director name submitted in your Store Verification (KYC).
Updating Your Settlement Account
If you switch business banks or open a new corporate account, you can update your settlement details from the same screen. An email notification is sent to the store owner alerting them of the account change as a security safeguard.
Supported Commercial Banks & Fintechs
Teyweb supports all CBN-licensed institutions, including First Bank, GTBank, Zenith Bank, Access Bank, UBA, Stanbic IBTC, Sterling, Fidelity, FCMB, and certified digital banks including Kuda Bank, Moniepoint MFB, and OPay.
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