Depositing money using the Flutterwave bank transfer method for Luno customers in Nigeria ensures that funds reflect near-instant in your wallet, or rather, within 30 minutes. It allows you to make a deposit via any of your bank’s transfer channels, like the mobile app, internet banking or USSD.

Here's how

Sign in to the Luno app, select Wallets from the menu and then Deposit on your NGN wallet. Then follow these steps:

  1. From the selection choose Bank transfer with Flutterwave

  2. Enter the amount that you’d like to deposit within the limits displayed

  3. Confirm the amount and deposit fee, and then select Continue to Flutterwave

  4. On the Flutterwave modal, a virtual account number, bank name and beneficiary name will be displayed to you


    This virtual account number is only valid for 1 hour. Your bank transfer will have to be made within that hour.

  5. Go to your banking app and use the virtual account details to make your transfer

  6. And lastly, if your bank transfer was successful, come back to Luno and select I have made this bank transfer

Frequently asked questions

Will I be charged a deposit fee?

Yes, a flat fee of NGN 300 per deposit is charged. The fee is automatically deducted from the successfully transferred amount and will display on your Luno NGN balance history.

Are there any deposit limits?

Yes. You can deposit a maximum of NGN 10 million per bank transfer. The minimum deposit amount is 1000 NGN.

How long does it take to reflect?

Deposits using Flutterwave will reflect in your NGN wallet in 30 minutes.

Which banks are supported?

All Nigerian banks are supported, except for Stanbic, WEMA bank (both of them, unfortunately, don’t recognise virtual accounts) and also Standard Chartered bank.

Can I fund from a bank account that's not in my name?

No, we don't support third-party deposits. Deposits made from a bank account that's not in your name won't be allocated to your Naira wallet. If the funding account is debited, a refund will be made between 2-5 business days.


Third-party deposits also apply to third-party apps, which are non-banking payment platforms that you can use for transactions such as transfers and bill payments. When deposits are attempted from these apps, the depositor name is the third-party app, and not your own personal name. Therefore, they are treated as third-party deposits. Refunds on deposits made via third-party apps take longer than 5 days to process.

What could cause delays?

A delay in the deposit process could be caused by the following factors:

  • Insufficient funds

  • Processing delays on the bank’s side

  • Incorrect details specified during the deposit

Who can use this deposit method?

All verified customer in Nigeria. If you do not have this deposit method available to you, we'd suggest using one of the others, like Paystack or PayU.