AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
An Ecobank Xpress Loan is repaid from the Ecobank account it was paid into, on the date shown when you accepted it, and you can clear it earlier by funding that account and asking the bank to liquidate the balance. Ecobank Nigeria's loans page, read in October 2026, no longer lists Xpress Loan; the short-term products it does list, Salary Advance and Advance Facility, are requested on *326#. Complaints go to Ecobank first and, if unresolved, to the CBN as the bank's regulator.
First, check which Ecobank product you actually have
Many people who search for "Xpress Loan" are in fact repaying something else. Ecobank Nigeria launched Xpress Loan as a small loan for holders of its Xpress account, but when we read the bank's Nigerian loans page in October 2026 the product was not listed. The page lists Personal Loan, Auto Loan or Asset Acquisition, Advance Facility, Mortgage Loan, Travel Loan, Salary Advance and Cash Backed Loan. Two of these behave like the quick loans people associate with Xpress:
- Salary Advance: described by Ecobank as a 30-day overdraft facility.
- Advance Facility: renews every 30 days for up to a year, with charges applying only to the amount used.
- Both are requested on Ecobank's USSD code *326#, the same code the page gives for applying.
Your loan SMS, the confirmation screen and your account statement name the facility. Repayment rules differ between a fixed-date loan and a revolving facility, so start there.
How repayment is taken
Ecobank's page does not set out the mechanics of repayment, so what follows is how bank short-term credit in Nigeria generally works, and you should read it against your own offer letter or confirmation message.
- Fixed-date loan (the original Xpress Loan model): the full amount, plus the charge you accepted, falls due on one date. On that date the bank debits the account the loan was paid into. If the balance is short, it takes what is there and the rest becomes overdue.
- 30-day overdraft (Salary Advance): the account runs below zero up to the approved amount. Money that arrives, typically your salary, reduces the overdrawn balance first.
- Revolving facility (Advance Facility): you draw and repay within the limit; Ecobank says charges apply only to what you use. The facility renews every 30 days, so keep track of each renewal date.
Paying off early (liquidation)
The loans page does not describe a liquidation process, and it does not say whether early repayment carries a fee. In practice, you have three ways to clear the balance early:
- Fund the account the loan was paid into with the full outstanding amount.
- Check the *326# menu or the Ecobank app for a repay or liquidate option; if one appears, it shows the amount to clear before you confirm.
- If no option appears, ask Ecobank in writing (live chat in the app, or at a branch) to liquidate the facility and confirm the payoff figure, including any charge for the days used.
Ask for written confirmation that the facility is closed and that the account carries no residual balance. Save it; you may need it if a later statement or a credit report shows the loan as open.
Worked example (illustrative figures only)
Suppose you took ₦50,000 for 30 days with a charge of 5% for the period, a figure we use only to show the arithmetic, not Ecobank's price. The charge is ₦2,500, so ₦52,500 falls due. If only ₦40,000 is in the account on the due date, the bank takes ₦40,000 and ₦12,500 is overdue. If an overdue charge of 1% a month applied to that ₦12,500, it would add ₦125 a month on top of any continuing interest. Your own terms set the real figures.
If you miss the due date
Banks recover overdue short-term credit from incoming money first. Expect the next credit to the account to be applied to the debt. Unpaid loans are reported to credit bureaus and the CBN's credit risk register, which affects later borrowing from any lender. If you cannot repay in full, talk to the bank before the date: ask whether the balance can be restructured and get any agreement in writing.
Ecobank customer care and how to complain
The Nigerian loans page we read lists no customer care telephone number. It refers to live chat and a "talk to us" option, and an email address that is given only for returning completed loan forms, so do not rely on that address for complaints. Use these channels instead:
- Live chat in the Ecobank app or on the Ecobank Nigeria website.
- Any Ecobank branch, where you can lodge a written complaint and ask for a reference number.
- The contact page on Ecobank's site for the current helpline numbers, which we did not verify.
Write down your account number, the facility name, dates and amounts. If the bank does not resolve the complaint, escalate to the CBN, which supervises banks; our guide to complaining about a bank or fintech in Nigeria walks through the steps. Background on the product itself is in Ecobank Xpress Loan explained and what an Ecobank Xpress Loan costs.
Where Pryme fits
Pryme is not a bank or lender. Loans on Spaces, lent by Solid Allianze MFB, can only be spent with merchants in Spaces, and the full agreement is shown before you accept; see Loans on Spaces. If you need proof that a loan was cleared, Pryme customers can generate a verifiable statement with VerifyDoc.ai on receipts and statements.
Questions people ask
How do I repay my Ecobank Xpress Loan?
Fund the Ecobank account the loan was paid into before the due date; the bank debits it. To clear early, check the *326# menu or app for a repay option or ask the bank to liquidate it.
Is Ecobank Xpress Loan still available?
Ecobank Nigeria's loans page did not list Xpress Loan when we read it in October 2026. It lists Salary Advance and Advance Facility, which are requested on *326#.
What is the Ecobank customer care number for loans?
The loans page we read gives no phone number. Use live chat in the app or on the website, visit a branch, or check Ecobank's contact page for current numbers.
What happens if I don't repay my Ecobank loan?
The bank takes money that arrives in your account, overdue charges may apply under your terms, and the default can be reported to credit bureaus, affecting future borrowing.
Sources
- Ecobank Nigeria: Loans · accessed Oct 2026
- FCCPC: Digital, Electronic, Online or Non-Traditional Consumer Lending Regulations 2025 (PDF) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.