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The short answer
A First Bank token generates one-time codes that authorise transfers and bill payments on internet banking. FirstBank's FAQs say a physical token device is required for diaspora customers to make transfers and bill payments, with a daily limit of ₦1 million on individual accounts and ₦10 million on corporate accounts, and that a lost token is replaced by completing the bank's forms and paying the associated cost. Request one at your branch, which will also activate it.
Internet banking needs a second check beyond your password before money leaves your account. At First Bank, that check for higher-risk actions such as transfers and bill payments can come from a token: a small device, or in some setups an app, that produces a short one-time code. This guide covers what FirstBank's own pages say about tokens, the parts they leave unstated, and how to get one working.
What the token is for
A token proves that the person logging in also has a physical item in their possession. Even if someone learns your password, they cannot authorise a transfer without the current code. Each code works once and expires quickly, so a code seen over your shoulder is useless a minute later.
- Password
- Something you know; lets you sign in.
- Token code
- Something you have; authorises transfers and payments.
- Transaction PIN or OTP
- Used on other channels, such as the app or USSD, depending on the service.
What FirstBank's FAQs say
- For diaspora customers, a physical token device is required for effective transfers and bill payments.
- With the token, the daily limit is ₦1 million per day on individual accounts and ₦10 million per day on corporate accounts.
- A replacement card or token is obtained by filling the necessary forms and paying the associated cost; the cost is not stated.
- For customers abroad, cards and tokens are dispatched to the registered address abroad via DHL, at a cost.
How to get a token
FirstBank's download forms page did not list a separate token request form when we read it in October 2026, so the request starts at a branch or with FirstContact.
- Make sure your internet banking profile is active and you can sign in.
- Visit your branch with valid ID and your account details, or contact FirstContact (0700-347-782-668-228, per TechCabal's May 2026 list) to ask how the request is handled for your account.
- Ask what the token costs and how it will be charged, and approve the charge.
- Complete the form the branch gives you and sign it with your mandate signature.
- If you are abroad, confirm the registered address and the DHL dispatch cost before you agree.
Activating and using it
Activation links the token's serial number to your internet banking profile. The branch either does this when it hands over the device or gives you instructions to complete it when you next sign in. Once it is active:
- Sign in to internet banking with your user ID and password.
- Start the transfer or bill payment and enter the details.
- When asked for a token code, press the token's button and type the code shown.
- Check the amount and beneficiary once more before you confirm.
If the code is rejected
- Make sure you typed the newest code; an old one expires.
- Check the token is the one linked to your profile, not an old device.
- Do not keep trying: repeated wrong codes can lock the token. Contact FirstContact to reset or resynchronise it.
- If the screen is blank, the battery may have run out; tokens are usually replaced rather than recharged.
Keeping it safe
- Keep the token separate from any note of your password.
- Never read a token code to someone who calls you, however official they sound. First Bank does not need it.
- Report a lost token at once so the bank can deactivate it.
- If a website asks for your token code to "verify" your account, close it; see how to reach First Bank safely.
Token, app or USSD: which to use
Each First Bank channel suits different jobs. Internet banking with a token is the usual choice for larger or less frequent payments, and for diaspora customers, because the FAQs tie the ₦1 million individual daily limit to the token. The FirstMobile app is quicker for everyday transfers from your phone. The *894# USSD service works without data but only from the phone number enrolled on the bank's SMS alert platform, and FirstBank's FAQs say joint, corporate and multiple-signatory accounts are not eligible for it. A business with several signatories will therefore rely more on internet banking and the token. Choosing the channel before you need it saves a branch visit at a bad moment.
Limits and alternatives
The ₦1 million daily limit in the FAQs applies to individual accounts using the token. For larger payments, ask the branch what options apply. For everyday transfers, the FirstMobile app and *894# USSD have their own limits; see First Bank transfer limits by tier.
Where Pryme fits
Pryme uses an authenticator app for sign-in codes rather than SMS, together with a transaction PIN, so there is no separate device to carry. See Pryme security.
Questions people ask
How do I get a First Bank token?
Request it at your branch or through FirstContact. FirstBank's download forms page did not list a token form in October 2026, and the FAQs say a replacement token involves forms and a cost.
How much is a First Bank hardware token?
FirstBank's pages we read do not state the price; they refer to an "associated cost". Ask the branch.
What is the First Bank token transfer limit?
FirstBank's FAQs give a daily limit of ₦1 million for individual accounts and ₦10 million for corporate accounts when using the token.
My First Bank token is not working. What do I do?
Use the newest code, check it is the linked device, and stop after a few failed attempts. Contact FirstContact to reset, resynchronise or replace it.
Sources
- FirstBank: Frequently asked questions · accessed Oct 2026
- FirstBank: Download forms · accessed Oct 2026
- TechCabal: Customer care numbers for banks and fintechs in Nigeria (May 2026) · 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.