Moniepoint Inc. has become one of Nigeria’s most trusted, reliable, and fast-growing digital banking systems. Today, millions of Nigerians depend on Moniepoint for withdrawals, transfers, business payments, POS services, and daily financial operations. The rise of Moniepoint Bank shows how a simple idea can grow into a nationwide financial engine that powers businesses, agents, and small communities across the country.
This ultimate guide reveals everything you need to know about Moniepoint, how it works, its charges, POS machine, login guide, loans, customer care, agent registration, and the solutions to every common Moniepoint problem people search for online.
What Is Moniepoint?
Moniepoint is a leading Nigerian fintech and microfinance bank that provides fast, secure, and reliable financial services for individuals and businesses. It offers POS machines, business accounts, personal accounts, transfers, bill payments, ATM cards, and digital banking tools designed for speed and stability.
Moniepoint became popular because it focuses on reliability. While many POS platforms suffer frequent network issues, Moniepoint built a system that works even in rural or poor network areas, making it the preferred choice for POS business owners.
Who Owns Moniepoint?
Moniepoint is owned by Moniepoint Microfinance Bank, a subsidiary of TeamApt, a Nigerian financial technology company founded by Tosin Eniolorunda.
The company is licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC). This gives Moniepoint strong credibility and trust in the Nigerian financial ecosystem.
How Moniepoint Banking Works
Moniepoint operates as both a digital bank and a POS service provider. Here’s how the system works:
- POS agents perform withdrawals, deposits, and transfers.
- Businesses use Moniepoint accounts for receiving payments.
- Individuals use the mobile app for regular banking.
- Users can request ATM cards for withdrawals and purchases.
- The dashboard allows tracking transactions in real-time.
Moniepoint integrates banking services with payment infrastructure to make operations fast and reliable.
Moniepoint POS Machine Overview
Moniepoint POS machines are known for their durability, good battery life, stable network, and low failure rate.
Types Of Moniepoint POS Machines
- Android POS – touchscreen, receipts, advanced features.
- Traditional POS – keypad model with strong network stability.
Features
- Fast connection
- Accurate transaction reporting
- Long-lasting battery
- Real-time settlement
- Secure encryption
Also Read: Zenith Bank Story.
Moniepoint POS Charges (Updated)
Moniepoint is popular because of its affordable and transparent charges.
Withdrawal Charges
- N0 – N5000: N20
- N5001 – N10,000: N40
- Above N10,000: N60 flat
Deposit Charges
- Usually between N20–N30 depending on amount.
Transfer Charges
- Around N20 for inter-bank transfers.
Moniepoint POS Price In Nigeria
Current average prices:
- Official price: N25,000–N30,000
- Third-party sellers: N35,000–N55,000
The official price is usually lower, but market demand increases dealer prices.
How To Become A Moniepoint Agent
To become an agent, you need basic documents and business location requirements.
Requirements
- Valid ID
- BVN
- Utility bill
- Passport photo
- Business location
Registration Process
- Visit the Moniepoint website.
- Create an account.
- Submit documents.
- Get an assigned field officer.
- Wait for approval.
Approval normally takes between 24–72 hours.
How To Apply For Moniepoint POS Machine
- Register as an agent.
- Submit KYC documents.
- Request POS from your dashboard.
- A field officer delivers and activates it.
- Start transacting immediately.
Moniepoint Login Methods
Moniepoint Dashboard Login
- Visit the official portal.
- Enter email and password.
- Complete 2FA verification.
Moniepoint App Login
- Download the Moniepoint app from your app store.
- Enter your registered details.
- Use OTP verification if needed.
Reset Password
- Click “Forgot Password”.
- Enter email or phone number.
- Follow the reset instructions.
Moniepoint Account Opening Guide
Moniepoint offers both personal and business accounts.
Personal Account
- Simple signup
- ATM card
- Transfers
- Savings features
Business Account
- Designed for SMEs
- Instant settlements
- Transaction monitoring
- Business analytics dashboard
You can request a physical debit card from the app or agent.
Moniepoint Transfer Limits And Daily Targets
Tier 1 Account
- Lower limits
- Limited transactions
Tier 2 Account
- Medium limits
- Requires more documents
Tier 3 Account
- Highest limits
- Full KYC required
Daily Target
Moniepoint does not enforce strict daily targets, but active usage improves account standing.
Moniepoint Customer Care Contacts
Phone Number:
07006664377
Email:
Social Media:
Head Office:
The Post Square, Off Adeola Odeku, Victoria Island, Lagos, Nigeria.
Moniepoint Errors And Solutions
POS Error Codes
- Network errors
- Card decline
- Timeout issues
How To Fix
- Restart POS
- Check SIM or data
- Contact support
- Reprint failed transactions
Failed Transactions
Most failed transactions auto-reverse within minutes. If not, you should wait for 24 hours.
Is Moniepoint Safe And Reliable?
Yes. Moniepoint is safe because:
- It is licensed by CBN.
- Funds are insured by NDIC.
- Uses encrypted systems.
- Has strong fraud detection tools.
It is currently one of the most trusted fintech platforms in Nigeria.
Moniepoint Vs Other Fintech Platforms
| Feature | Moniepoint | Opay | PalmPay |
|---|---|---|---|
| POS Stability | Very High | Medium | High |
| Charges | Low | Low | Medium |
| Settlement | Instant | Instant | Instant |
| Speed | Fast | Fast | Fast |
| Rural Network | Excellent | Fair | Good |
Conclusion
Moniepoint has changed the way Nigerians use financial services. Its reliable POS machines, fast transfers, business-friendly banking, and strong nationwide network make it a trusted platform for millions. Whether you’re running a POS business, managing a shop, or looking for a dependable bank, Moniepoint offers the tools and stability that most traditional banks struggle to match.
FAQs About Moniepoint Bank
What Is Moniepoint?
Moniepoint is a digital bank and POS service provider in Nigeria offering fast, reliable financial services.
How Do I Become A Moniepoint Agent?
Register on their website, or by any other agent submit documents, and wait for approval from a field officer.
What Are Moniepoint POS Charges?
Withdrawal charges range from N20 to N60 depending on the amount.
How Do I Login To Moniepoint Account?
Visit the official portal and sign in with your email and password, or simply download the app from playstore/appstore, its free.
Is Moniepoint Safe To Use?
Yes. It is licensed by CBN and insured by NDIC.
How Do I Fix Moniepoint Failed Transactions?
Check network, reboot POS, retry transaction, or contact support.
What Is The Price Of Moniepoint POS?
Official price ranges from N25,000 to N30,000, but dealers may sell higher.
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