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Frequently Asked Questions

  • Can I get a loan or overdraft from Allworkers Mfb?
  • Ans = Yes. Lending is among the services we provide.


  • What is the maximum duration for loans?
  • Ans = the duration of our loans vary and is dependent on the individual borrower, purpose, amount, etc.


  • Do you grant moratorium for loan?
  • Ans = yes, in some instances


  • Must my landed property be valued prior to being used as collateral?
  • Ans = Yes. 


  • How long does your loan processing/appraisal last?
  • Ans = once your documentation is complete, it takes about two (2) days to get feedback from us


  • Do you grant overdrafts or salary advance?
  • Ans = yes- see link to download the form


  • What is your maximum duration for overdrafts? 
  • Ans = 3 months.


  • If I use landed property as collateral must it be registered?
  • Ans = Yes. Must be registered with lands


  • Do you fund loans for agriculture?
  • Ans = Yes


  • Do I need a guarantor to borrow?
  • Ans = Yes. Providing guarantors is a part of our requirements.


  • Must i liquidate my loan before re-applying?
  • Ans = Yes


  • Can i liquidate my loan before the expiry date?
  • Ans = yes, and subsequent interest will be removed.


  • Do you grant group loans for cooperatives?
  • Ans = yes.


  • Do you grant loans for completion of building etc?
  • Ans = yes.


  • Can I continue making deposit after paying off my loan?
  • Ans = yes.


  • Does Allworkers Mfb give loans without collateral?
  • Ans = yes, up to a maximum


  • If I have account with Allworkers Mfb can i receive or send money within Nigeria?
  • Ans = yes, through Allworkers Mfb mobile app.


  • Who qualifies to bank with Allworkers Mfb?
  • Ans = civil servants, petty traders, market women, business tycoons etc who isn’t involved in an excluded business/profession.

Learn More

You can always get more information on specific products on our credit, savings and e-baking products.


Remember, you can always contact us via the contact form or book an appointment to see someone (scroll to the bottom of the home page).

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  • Can one make transfers from Allworkers MFB to any other Bank?
  • Ans = Absolutely! Through the Mobile App from the comfort of your homes or from any branch close to you.


  • How about USSD code?
  • Ans = Yes! Currently the USSD code is *540*285*0# to check your balance, and *540*285*amount# to recharge your phone. The one for transfers is in process.


  • Does Allworkers MFB offer BVN enrollment?      
  • Ans = Yes the Bank offers enrollment as well as Verification BVN.


  • Can one receive money from outside the country through Allworkers MFB in the form of Western Union?
  • Ans = No. Generally, Micro Finance Banks do not run Western Union Money Transfers, it is for Commercial Banks.


  • How can one check BVN without going to the Bank?
  • Ans = Simply dial *565*0# and make sure it is the phone number used in the enrollment process.


  • Can civil servants receive their Salaries through Allworkers MFB?
  • Ans = Yes! Through their Salary Account.


  • What are the requirements for account opening in Allworkers MFB LTD?

  1. Ans = Daily Thrift – 2 passports, valid ID card and current utility bill. This account comes with a passbook to record all your transactions on a daily basis by your account officer.
  2. Personal Savings – 2 passports, valid ID card and current utility bill.
  3. Personal current – 2 passports, valid ID, current utility bill, and 2 references.
  4. Minor Account – this account is for individuals under the age of 18, and it is handled by the minor’s guardian until the minor comes of age. The requirements are: 2 passports of the minor and the guardian, minor’s birth certificate, guardian’s ID card and BVN, and current utility bill.
  5. Group account – this account is for a group of people that come together as an organization or an informal group, agreeing to open as an account and the executives of the group serve as signatories to the account. The requirements are: 2 passports and valid ID cards of each signatories, current utility bill, the group’s constitution, and group resolution.
  6. Corporate account – this is an account for businesses. The requirements are: 2 passports and valid ID card of each of the signatories, current utility bill, board resolution, memorandum and articles of association, and every other document used for the incorporation of the business/company, including the certificate of incorporation.
  7. BVN is required in all account categories.

Learn More

You can always get more information on specific products on our credit, savings and e-baking products.


Remember, you can always contact us via the contact form or book an appointment to see someone (scroll to the bottom of the home page).

book an appointment