OPay, a Nigerian fintech company licensed by the Central Bank of Nigeria (CBN), offers financial services to both banked and unbanked individuals. While OPay does not have a traditional sort code, it operates with a master USSD code *955# that provides access to a wide range of services, including money transfers, withdrawals, savings, and bill payments. This guide details all OPay USSD codes, banking identifiers, and answers frequently asked questions.
Understanding OPay's Banking Structure
OPay is a mobile money operator (MMO) and digital bank, registered as OPay Digital Services Limited. It was formerly known as Paycom Nigeria Limited. The platform is backed by the SoftBank Vision Fund and Sequoia Capital China, and it is owned by Chinese billionaire Zhou Yahui through the Opera web browser, which holds a 9.5% stake. OPay is licensed by the CBN and has partnered with Verve International to issue debit cards.
Since OPay is not a traditional bank, it does not have a sort code, SWIFT code, IBAN, or BIC code. Transactions are limited to Nigeria, and users cannot receive foreign currency directly. However, third-party services like MoneyGram and WorldRemit can be used to receive foreign currencies, which are converted to naira and credited to the OPay wallet.
OPay Bank Code and Master USSD Code
The OPay bank code in Nigeria is *955#. This code is free to dial and works across all major networks, including MTN, Airtel, Glo, and 9mobile. It can be used on both Android and iPhone devices. The code provides access to the main menu, from which users can perform various transactions.
To set up a one-time password (OTP) for enhanced security, dial *955*010# and follow the prompts. This OTP is essential for securing transactions on the platform.
Key OPay USSD Codes and How to Use Them
Checking Account Balance
To check your OPay account balance using USSD, dial *955#, select "Check Balance" from the menu, and enter your PIN. You will receive an SMS with your current balance.
Withdrawing Cash
OPay allows withdrawals at agent locations or ATMs via USSD. Dial *955#, choose "Withdraw," enter the agent or POS number, select the amount, and confirm with your PIN.
Transferring Money
To transfer funds to another bank or OPay user, dial *955#, select "Transfer," choose the transfer type (e.g., option 2 for bank transfer), enter the recipient's account details, specify the amount, and confirm with your PIN.
Saving Money
For savings, dial *955#, select "Savings," enter the amount to save, and confirm with your PIN.
Buying Airtime
To purchase airtime, dial *955#, select "Airtime," choose to buy for yourself or others, enter the recipient's number if applicable, select the amount, and confirm with your PIN.
Buying Data
For data purchases, dial *955#, select "Data," choose the recipient, select the data bundle, and confirm with your PIN. Alternatively, you can dial *955*4*Phone number# to buy data directly.
Paying Electricity Bills
To pay electricity bills, dial *955#, select "Betting & Electricity," choose "Pay Electricity Bill," enter your electricity company, account number, and meter serial, then the amount, and confirm with your PIN. You will receive your token via SMS.
Recharging Betting Accounts
To recharge a betting account, dial *955#, select "Betting," choose your betting company, enter the deposit amount, and confirm with your PIN.
Blocking a Card
If you lose your OPay card, you can block it by dialing *955*132#. You will receive a confirmation once the card is blocked.
OPay Sort Code and Other Banking Details
Although OPay does not have a traditional sort code, it is identified in the Nigerian banking system by the sort code 040004, which is used for interbank transfers through the Nigeria Inter-Bank Settlement System (NIBSS). In contrast, the sort code 033 belongs to United Bank for Africa (UBA).
OPay is classified as a Microfinance Bank (MFB) by the CBN, offering digital financial services such as money transfers, bill payments, savings, and merchant payment solutions. It is both a wallet and a digital bank, but it does not support direct foreign currency transactions like dollars. All transactions are processed in naira.
Frequently Asked Questions
Which bank controls OPay?
OPay is backed by SoftBank Vision Fund and Sequoia Capital China, and it is licensed by the CBN. It is not controlled by a traditional bank but operates independently as a fintech company.
What is the full meaning of OPay?
OPay stands for OPay Digital Services Limited, formerly known as Paycom Nigeria Limited.
Which country owns OPay Bank?
OPay is owned by Chinese billionaire Zhou Yahui through Opera, which holds a 9.5% stake.
Can you receive dollars in your OPay account?
No, OPay only supports naira transactions. You cannot receive dollars directly, but you can use third-party services like MoneyGram to receive foreign currency, which is then converted to naira.
Is OPay a wallet or a bank?
OPay is both a wallet and a digital bank, offering services like savings, payments, and loans.
Conclusion
OPay's USSD code *955# simplifies financial transactions, making it easy for users to transfer money, save, purchase airtime and data, pay bills, and more without needing internet access. While OPay lacks a traditional sort code, its sort code 040004 is used for interbank transfers. Understanding these codes and banking details helps users maximize OPay's services efficiently.
This article is for informational purposes only and does not constitute professional financial advice. Always verify details with official OPay channels.
