Once you’ve fully verified your Luno account, you can use vouchers to make Naira deposits or withdrawals.
When you want to make a deposit, you’ll first buy a voucher and then redeem it on Luno. Once redeemed, we’ll add the funds to your NGN wallet.
The same goes for withdrawals. When you make a withdrawal, we’ll create and fund a voucher for you. Once you’ve redeemed the voucher, the funds will be sent to your specified bank account.
Keep in mind
Your voucher details will be sent to the email address and mobile number linked to your Luno account, so check that those details are correct
You’ll need to use a Nigerian phone number to redeem your voucher. If you need to change your number, follow these steps
Before redeeming a voucher, make sure that your bank account is active and that the transaction limits set by your bank are high enough to support your voucher amount
If you have any trouble with your voucher, you’ll find the help you need here
How to deposit
Go to your NGN wallet then select DEPOSIT
Select the CREATE VOUCHER button
If you haven’t used vouchers with Luno before, you’ll see some screens introducing you to voucher payments. Press NEXT to continue
Enter the amount you’d like to deposit, then select NEXT
You’ll see a screen confirming the amount and fee. Select PAY FOR MY VOUCHER
On the webpage that opens up, you can make a card payment or a bank transfer. Once the payment is successful, your voucher details will be sent to your Luno email address and phone number
On the 'Redeem your voucher' screen, enter the voucher details you received, then select NEXT
Lastly, enter the six-digit code sent to you via SMS and email
Success! The funds will be added to your NGN wallet within a few hours so you can buy crypto.
How to withdraw
Go to your NGN wallet and select WITHDRAW
On the next screen, select CREATE VOUCHER
Enter the amount of Naira you’d like to withdraw, then select NEXT
You’ll see your withdrawal amount and the withdrawal fee. Select CONFIRM
If you’re using the mobile app, enter your Luno PIN. Your voucher details will be sent to your Luno email and phone number
Select the REDEEM NOW button
Choose the bank account you’d like to withdraw to
Enter the voucher number you received earlier, then select REDEEM VOUCHER
Enter the six-digit code sent via email and SMS
Success! The funds will reflect within 48 hours (longer over weekends or public holidays).
Note
The withdrawal amount will be removed from your NGN wallet, but it won’t reflect in your bank account until you’ve redeemed your voucher. Be sure to follow all of the steps above to successfully complete your withdrawal.
Tip
Having trouble with your voucher? Check out this article for some more help.
Frequently asked questions
Deposits:
The deposit fee is 2% of your deposit amount, and this is capped at ₦2,000 (so you’ll never pay a deposit fee greater than ₦2,000).
When you buy the voucher, the fee will be deducted from your deposit. So, for example, if you deposit ₦10,000, a fee of ₦200 will be deducted and you’ll receive ₦9,800 in your Luno wallet.
Withdrawals:
The withdrawal fee is 2% of your withdrawal amount, and the fee is capped at ₦2,000 (so you’ll never pay a withdrawal fee greater than ₦2,000).
This fee will be deducted from your remaining NGN wallet balance. If you’re emptying your NGN wallet to make the withdrawal, you’ll receive your withdrawal amount minus the fee. So, for example, if your NGN wallet balance is ₦10,000 and you withdraw the full amount, the 2% fee will be deducted from that amount, and you’ll receive ₦9,800 in your bank account.
Yes, there’s a maximum limit of ₦4 million per voucher. Your Luno account also has verification levels with deposit and withdrawal limits, which you can find here.
Vouchers expire after one year. If you haven’t redeemed a voucher after one year, it’ll be refunded to your account.
No. Once you confirm a withdrawal, your requested withdrawal amount is used to pay for your withdrawal voucher. You’ll need to complete your withdrawal by redeeming your voucher.
We investigated various options to restore deposits and withdrawals in Nigeria. It was important for us to find a trusted payments provider who takes customer protection and compliance regulations as seriously as we do, and we’re confident that we’ve found this with our current solution. We believe that this is the safest and easiest-to-use solution we can offer to you at this time.
No. If you’ve made a bank transfer or a card payment to buy a voucher from your DEPOSITS screen, you need to redeem that voucher to deposit funds only.
If you paid for a voucher using funds from your Luno wallet in the WITHDRAW screen, you need to redeem that voucher to withdraw funds only.
Basically, don’t deposit with a withdrawal voucher or withdraw with a deposit voucher.
No, only vouchers created using your Luno account will work with Luno.