FAQs

Frequently Asked Questions

Diamond Y'ello FAQS

What is the Diamond Y'ello Account?

DIAMOND Y’ELLO ACCOUNT is the safe and fast means to OPEN a Bank Account, SAVE and BORROW money from the convenience of your MTN Mobile phone. With DIAMOND Y’ELLO ACCOUNT you also enjoy friendly data, SMS and call rates, while earning interest on money saved on your DIAMOND Y’ELLO ACCOUNT with exciting airtime bonuses each time you use your DIAMOND Y’ELLO ACCOUNT.

With DIAMOND Y’ELLO ACCOUNT you can;

  • Open and operate an account through your MTN Mobile phone, without filling forms
  • Pay Bills
  • Apply and receive emergency loans directly from your MTN Mobile phone (currently not available).
  • Earn interest on account balances and bonus airtime each time you use your DIAMOND Y’ELLO ACCOUNT
  • Deposit and withdraw money from our Agent locations.
  • Purchase airtime

What are the Requirements to have a Diamond Y’ello Account?

 To get a DIAMOND Y’ELLO ACCOUNT, you need to be;

  • A registered and active MTN Subscriber.
  • Customers who port into the MTN network and are in the allowed tariff plans will be able to use their off-net (numbers issued- by another network) numbers with this service.
  • Accounts opened will operate under KYC Level 1 restrictions which can be migrated to Level 2 and 3 if requested by customer.
 Tiers Bank Transaction    Mobile Transaction 
DEPOSIT PER TRANSACTION (NGN) CUMMULATIVE BALANCE (NGN) MAXIMUM SINGLE DEPOSIT(NGN) DAILY TRANSACTION LIMIT( NGN)
Level 1 20, 000 200, 000 30, 000 30, 000
Level 2 50, 000 400, 000 100, 000 100, 000
Level 3 NO  LIMIT NO  LIMIT 100, 000 1,000, 000

Can customers open a joint Diamond Y’ello Account?

No, it is unique to a registered MTN number.

How much credit do I need to have on my line in order to open a Diamond Y’ello account?

You do not need any airtime to open a DIAMOND Y’ELLO ACCOUNT

How do I as an existing MTN customer opt in for the Diamond Y’ello account?

  • Option 1:Dial *710# on your phone and follow the prompt
  • Option 2: Visit a DIAMOND Y’ELLO ACCOUNT Agent
  • Option 3:Download Diamond Y’ello App from MTN App Store and other App stores
  • Option 4:Select Diamond Y’ello Menu under MTN Services on your phone(currently not available)

Can ATM card be used to withdraw from other banks ATM and for PoS transactions?

YES. (Not available at the moment).

Can I send money to people who have an account with Diamond Bank?

YES

  • Dial *710#
  • Select ‘Bank Service’ on your DIAMOND Y’ELLO ACCOUNT Menu
  • Select ‘Transfer money ‘
  • Select ‘Account to Account’ transfer
  • Follow Prompt to enter recipients detail, amount, narration’.
  • Enter your pin to authorize the transaction

Or

  • DYA to DYA – Dial *710*710*PHONE NO*AMOUNT*PIN#
  • DYA to Diamond Bank – Dial *710*777*ACCOUNT NO*AMOUNT*PIN#

Can I send money to people who have an account with other banks?

YES

  • Dial *710#
  • Select ‘Bank Service’ on your DIAMOND Y’ELLO ACCOUNT Menu
  • Select ‘Transfer money ‘
  • Select ‘Bank to Bank’ Transfer
  • Follow Prompt to enter recipients detail, amount, narration’
  • Enter your pin to authorize the transaction

Or

  • Dial *710*777*ACCOUNT NO*AMOUNT*PIN#

What is the maximum Ii can deposit into my Diamond Y’ello account?

Diamond Y’ello accounts are Tier 1 accounts (like BETA and Savings Lite accounts), and as such, transactions are limited to Tier 1 limits as captured below., but can be migrated to Tier 2 and 3 at customer’s request.

Account Type Documentation Required        Bank Transaction (=N=)   Mobile Transaction(=N=)  
Deposit Per Transaction Cumulative Balance Maximum Single Deposit Daily Transaction Limit
 Level 1 Personal Details + Passport Photograph  20, 000  200, 000  20, 000  30, 000
Level 2  Personal Details + Passport Photograph + ID Card + Address verification  50, 000  400, 000  50, 000  100, 000
Level 3  Personal + Passport Photograph + Valid ID Card i.e. Driver’s License, Nigerian Passport, Voter ID or National ID + Address Verification  NO  LIMIT  NO  LIMIT  100, 000  1,000, 000

How safe is my Diamond Y’ello Account?

Quite safe. During the registration process, you will be required to create a user pin which you should always remember and use for transactions.

How do I check my Diamond Y’ello account balance?

  • Dial *710#
  • Select Bank Services.
  • Select Check Balance
  • Enter PIN.
  • Wait for SMS confirmation with the message.

 

Note also that your account balance is shown at the end of the SMS sent after every transaction performed.

How do I deposit into my Diamond Y’ello account?

  • Fund your Diamond Y’ello account via the funds transfer menu on Diamond Online.
  • Instant Transfers through other banks
  • Visit a Diamond Y’ello Agent or Diamond Bank Branch and make cash Deposits
  • Funds transfer via Diamond Y’ello Mobile app and Diamond Mobile app

How do I withdraw from my Diamond Y’ello account?

  • Option 1: Agent Location
  • Option 3: ATM (currently not available)
  • Option 2: Diamond Bank Branch

How do I access my account statement?

To view statement;

  • Dial *710#
  • Select ‘Bank Service’ on your DIAMOND Y’ELLO ACCOUNT Menu
  • Select ‘View Statement ‘
  • Enter your pin to authorize the transaction

Currently, you can get 5 recently completed transactions through your mini statement.

Do I lose my money if my phone is lost or stolen?

Your money is safe because your Diamond Y’ello Account is protected by your PIN. Replace your SIM card at any of our MTN Centers or Agent outlets. Once you activate your DIAMOND Y’ELLO ACCOUNT menu, using your current DIAMOND Y’ELLO ACCOUNT PIN you will be able to access your Diamond Y’ello account.

Can a customer receive funds from other accounts or banks to their Diamond Y’ello account? Is there a special way to initiate these transfers?

Yes, the Diamond Y’ello account can receive funds from other accounts and banks. There are various means of transfer but at the moment, funds can be transferred via diamond online and instant funds transfers from other banks.

Are Diamond Y’ello Account numbers NUBAN numbers?

All DIAMOND Y’ELLO ACCOUNT numbers are NUBAN account numbers.

In cases of failed fund transfers, where is the first point of call? Diamond Bank, MTN office or Y’ello friendship center?

Please dial 118 for all Diamond Y’ello related issues.

What happens in cases where customers port to another network? Will this affect their ability to access their funds?

In the event that customer decides to port to another mobile network provider from MTN, customer will be required to open another account with Diamond Bank and transfer all credit balances to this account within two (2) days of port request and clear any outstanding debt if granted a loan facility and subsequently close the account.

How do we access this account?

Dial *710# and select the number that matches the service of your choice.

Available customer support channel and escalation path

Please dial 118 from your MTN line for assistance or send a mail to enquiries@diamondbank.com

What are the charges on the service?

S/N TRANSACTION TYPES COST TO CUSTOMER
1 Diamond Y’ello  Account  to Diamond  Y’ello  Account  (Transfer within Closed User Group  -CuG) N20
2 Diamond Y’ello  Account to Diamond  Y’ello  Account           ( Transfer outside  closed User Group  – CuG) N50
3 Diamond  Y’ello  Account to other Diamond bank Accounts N20
4 Bank to Bank Transfer N100
5 Transfer to 3rd Party Beneficiary N100
6 Purchase of Airtime + MTN Services Free
7 Balance Enquiry Free
8 Mini – Statement Free
9 SMS Alert Free
10 Registration / Account Opening, PIN Change & Other Account Maintenance Free
11 Issuance of Debit Card N750
12 Bill Payment (Self Service) N100
13 Bill Payment @ Agent Location N150
14 Withdrawal @ Branch N100
15 Withdrawal @ Agent N50
16 Cash Deposit Free
17 Interest on Account Balance 2% P.A

How do I qualify to access loans

  • Maintain an active MTN Line
  • Run your DIAMOND Y’ELLO ACCOUNT for a minimum of 3 (three) months
  • Save regularly on your Diamond Y’ello Account and continuously use other MTN services such as Voice, SMS etc.

24 HOW MUCH LOAN CAN I REQUEST FOR?

It depends on the type of loan and how active your account is.

  • Minimum of =N=1,000

(Note that this is subject to review)

 

25 HOW OFTEN WOULD I BE REQUIRED TO REPAY MY LOANS?

It depends on the type of loan;

  • For emergency loans you are expected to repay within 30days
  • For easy loans you are expected to repay within a maximum of 90days installments payable monthly

          (Note that this is subject to review)

26 HOW DO I REQUEST FOR A LOAN?

From ‘Diamond Y’ello Account’ menu;

  • Dial *710#
  • Select ‘Bank Service’ on your DIAMOND Y’ELLO ACCOUNT Menu
  • Select ‘LOAN’
  • Select ‘Request Loan’
  • Enter Amount
  • Enter PIN

27 WHAT IS THE MINIMUM AND MAXIMUM AMOUNT I CAN BORROW?

The minimum amount you can borrow is N1, 000 and the maximum is subject to account review

28 CAN I REPAY A LOAN BEFORE THE DUE DATE?

Yes, the loan is payable within 30 days. However, you can repay the loan before the due date.

29 HOW DO I REPAY A LOAN?

From ‘Diamond Y’ello Account’ menu;

  • Dial *710#
  • Select ‘Bank Service’ on your DIAMOND Y’ELLO ACCOUNT Menu
  • Select ‘LOAN’
  • Select ‘Pay Loan’
  • Enter Amount
  • Enter PIN

30 WHAT WILL I BE CHARGED FOR TAKING A LOAN?

S/N TRANSACTION TYPES COST TO CUSTOMER
1 Diamond Y’ello  Account  to Diamond  Y’ello  Account  (Transfer within Closed User Group  -CuG) N20
2 Diamond Y’ello  Account to Diamond  Y’ello  Account           ( Transfer outside  closed User Group  – CuG) N50
3 Diamond  Y’ello  Account to other Diamond bank Accounts N20
4 Bank to Bank Transfer N100
5 Transfer to 3rd Party Beneficiary N100
6 Purchase of Airtime + MTN Services Free
7 Balance Enquiry Free
8 Mini – Statement Free
9 SMS Alert Free
10 Registration / Account Opening, PIN Change & Other Account Maintenance Free
11 Issuance of Debit Card N750
12 Bill Payment (Self Service) N100
13 Bill Payment @ Agent Location N150
14 Withdrawal @ Branch N100
15 Withdrawal @ Agent N50
16 Cash Deposit Free
17 Interest on Account Balance 2% P.A

1. ARE THERE ANY EXTRA REWARDS FOR USING MY DIAMOND YELLO ACCOUNT?

Yes, you will earn bonus points which you can redeem periodically as airtime

2. WHAT CAN I DO WITH MY BONUS POINTS?

You can use these bonus points to buy airtime, SMS, caller tunes and other MTN services

3. WHEN I RECEIVE AIRTIME VOUCHERS FROM FRIENDS AND FAMILY, IS IT POSSIBLE FOR THE VOUCHERS TO BE CONVERTED TO CASH?

No, for now.

Diamond Internet Banking FAQS

What is Diamond Online?

Diamond Online is our Internet Banking Service which allows 24/7 access to your account from the convenience of your home, office or any location all over the world. To use this service, all you need is an internet enabled phone, PC or laptop lPC

What type of transactions can I carry out on Diamond Online?

Most of the transactions carried out in the banking hall can be carried out via Diamond Online.
These include:

  • Account balance Enquiry
  • Funds transfer to other accounts in Diamond Bank (Third party)
  • Transfer between own accounts
  • Transfer to other bank accounts within Nigeria
  • Instant payments to other banks in Nigeria
  • Money transfer to non account holders (Walk-in customers)
  • Bills payments
  • Standing orders and direct debits
  • Stop cheques
  • Cheque book requests
  • Cheque confirmation
  • Statement generation
  • Batch payments e.g. salary and vendor payments
  • Credit card repayments
  • Loan requests
  • Term deposit amendments
  • Foreign funds transfers.

so much more

How do I get registered for this service?

This service is automatic for all new customers. Existing customers can register for this service by:

  1. Applying at the nearest Diamond Bank branch.
  2. Downloading the form from our web site which is www.diamondbank.com.
  3. Make a request through the Contact Center via email ( enquiries@diamondbank.com) or via phone by calling any of these numbers, 0808CALLDBC (08082255322), 01-2793500, 01-6283892.

All forms must be filled and signed, then sent to any of our branches or scanned to the above mentioned email box. Fill and submit the form to the nearest Diamond Bank branch or scan and send to enquiries@diamondbank.com.You can also call our Contact Centre/Customer Care on 0808CALLDBC (.08082255322), 01-2793500, 016283892

I have more than one account; how many of my accounts can I view at a time?

All your accounts can be viewed using one sign-on request provided you indicate which accounts you want to view when filling the request form.

How secure is Diamond Online?

The new Diamond Online is very safe as it has different levels of authorization that ensure your banking transactions and information remains private. The service utilizes your Username and password to provide secure access to the account and a second (and higher) level of protection by using a onetime passcode(OTP) for sensitive transactions that require an extra level of security such as interbank funds transfers, Bill payments, etc.This onetime passcode (OTP) is dynamic in the sense that it is an auto generated pass code which is generated on demand by the account user for the execution of sensitive transactions and rendered invalid once used. This significantly reduces the possibility of the pass code falling into the wrong hands.

What is a Onetime passcode (OTP)?

A onetime passcode (OTP) is an automatically generated numeric passcode that enables a user the ability to transact with his online account? Onetime passcodes (OTPs) are required only for highly sensitive transactions such as beneficiary maintenance, interbank transfers, etc. A onetime passcode (OTP) is an automatically generated numeric passcode that enables a user the ability to transact with his online account? Onetime passcodes (OTPs) are required only for highly sensitive transactions such as beneficiary maintenance, interbank transfers, etc.

How do I generate a Onetime passcode (OTP)?

An OTP can be derived in any of the following three ways1. System generated OTP2. Software token3. Hard ware System Generated onetime passcode (OTPs).The most basic of the three. It does not require the use of hardware or software tokens. Customers can just click on the request pass-code button every time they need a higher level of authentication. The pass-code will then be automatically generated via the system and sent as an SMS to the customers phone. Thereafter the customer can insert the 6- digit code he receives in the space provided. Software tokens can be generated via an application which can be installed on Java enabled mobile phones. The application does not make use of the mobile network and does not require mobile network coverage. The application generates and provides you with the 6- digit code you need to insert to transact with.Hardware TokensThis is a small mobile device (key holder- size), which is used to generate a onetime passcode (OTP) to enable you carry out transactions requiring a higher level of authentication

Do I have an option of choosing how my onetime passcode (OTP) is generated?

Retail Customers: As a retail customer, you are automatically enabled to generate your onetime passcode (OTPs) via the system by clicking on the Request Passcode Link; However retail customers have the option of using either the Hardware or Software token for onetime passcode (OTP) generation but not both.

Corporate Customers: By default all corporate customers are required to use the hardware tokens for onetime passcode (OTP) generation.

Can the onetime passcode (OTP) expire?

The onetime passcode (OTP) will expire if not used within 3 minutes. In this case, you may be required to generate another one-time-pass code.

What is the difference between normal and high level authentication mode?

The lower authentication mode allows you carry out basic transactions, which have little or no risk to you. This requires the basic Diamond Online username and password to operate.On the other hand, in the higher authentication mode, you would require an extra secure pass-code to carry out highly sensitive transactions.

What types of transactions are done on normal and high level authentication modes?

Transactions that can be done on the different modes on Diamond Online
authentication mode Higher Authentication mode
View Account Summary Beneficiary maintenance
Booking and amending of term deposit Money transfer to walk in customers
Loan Request Instant funds transfer
Funds transfer to own account Log in with token option for both retail and corporate customers
Funds transfer to all maintained beneficiary/billing companies
Statement Request
Cheque book request
Stop Cheque or Card (Credit and Debit) request

What is the maximum I can transfer using Diamond Online on daily basis?

Retail Customers: As a retail customer, you have a maximum transfer limit of One Million (1,000,000) Naira daily.

Corporate Customers: There is no daily maximum transfer limit for you as a corporate customer

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