Is Polaris bank a good bank? (How reliable is Polaris bank)

Is Polaris bank a good bank? (How reliable is Polaris bank)

Is Polaris bank a good bank? (How reliable is Polaris bank)

Read all about Is Polaris bank a good bank.

Polaris Bank Limited is a commercial bank based in Nigeria. It is licensed by the Central Bank of Nigeria, the country’s banking regulator.

Polaris Bank is a large financial services provider in West Africa and Central Africa. With headquarters in Nigeria, the bank maintains subsidiaries in Sierra Leone, the Gambia, the Republic of Guinea, Liberia, Angola and Equatorial Guinea.

There are many banks in Nigeria that It can become a daunting task to pick one to bank with. However, if you are considering picking Polaris bank and want to know if it is good bank, then you should read this post.

In this post, I am going to be answering the question “Is Polaris bank a good book?”, you can leave us a comment after reading.

Read my post on how to check polaris bank statement of account

Is Polaris bank a good bank?

Polaris bank

To answer this question, we will have to list out the things that makes a bank a good bank:

  1. Good customer service
  2. Good banking technology
  3. Easy access to your money
  4. Trustworthiness
  5. Good network

Good customer service

Having a good customer service is one of the most important aspect of a good bank, as customers will need to have their issues quickly resolved.

Polaris bank has a good and responsive customer service, you can contact them via email at, Phone number 0700-POLARIS (0700-7652747)

0806 988 0000, 01 448 2100, 01 270 5850, twitter and Facebook

You will get your problems/issues resolved quickly.

Good banking technology

Another aspect of a good bank is the provision of good & modern banking technology in order to enable its customers carry out transactions efficiently, easily and quickly.

Polaris bank has the mobile app called VulTe, which enables its customers to carry out tranactions like money transfer, buying airtime, paying bills, checking bank account balance and more from their mobile phones.

The VulTe app is available for download on the Google playstore and iOS app store, with good reviews from the customers who have downloaded and use the mobile app.

Polaris bank also has an internet/online banking system in place from which you can easily carry out your transactions.

Easy access to your money

A good bank should be able to allow easy access to your money anytime you need it. With Polaris bank, you will have access to your money 24/7 from any of the available channels, whether mobile app, internet banking, POS, ATM’s etc.

As long as you have provided all the required documents needed to operate a Polaris bank account, there is no limit to the amount of money you can have in your bank account, and you can also send large amount of money out of your account at any time.


Polaris bank is a very trustworthy bank and is regulated by the Central bank of Nigeria (CBN). Polaris Bank Limited maintains an interlinked branch network of over 260 branches in all parts of Nigeria. The bank maintains her headquarters at 3 Akin Adesola Street, Victoria Island, Lagos, Lagos State, Nigeria.

There is absolutely no need to have any fear when dealing with Polaris bank, as your money will be in safe hands.

Good network

Another aspect of a good bank is its network. The network will determine how fast your transfers will be, how fast your transactions will be and how easily you can use its services.

Polaris bank has a great network that is available 24/7 and if there is going to be a problem, you will be given a heads up before time, so you can prepare.

History of Polaris bank?

Read my post on best banks in nigeria

The bank traces its origins back to 1989 when Prudent Bank Plc., was incorporated as a limited liability company.

In 1990, the bank was issued a license as merchant bank. That same year, it re-branded as Prudent Merchant Bank Limited. In 2006, Prudent Merchant Bank Limited merged with four other banks to form Skye Bank Plc

  • Bond Bank Limited
  • EIB International Bank Plc.
  • Reliance Bank Limited
  • Co-operative Bank Plc.

On 21 September 2018, Godwin Emefiele, the Governor of the Central Bank of Nigeria announced in Lagos that the apex bank had revoked the operating licence of Skye Bank.

He also stated that the assets and liabilities of the bank would be taken over by a new entity, Polaris Bank due to the inability of the Skye Bank’s shareholders to adequately recapitalize the bank after the 2016 intervention.



As you can tell from the above, Polaris bank is a good bank and you should have no problems banking with them.

If you have something to add, you can leave us a review below in the comment section, you can also visit our contact page to send us a message.


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