Moniepoint: How To Open And Use an Moniepoint Account

Moniepoint: How To Open And Use an Moniepoint Account

Decades ago, it seemed impossible to deal without using tangible cash. Today, things have changed.

Microfinance banks, such as Moniepoint, allow you to do transactions with people who live hundreds of kilometers distant.

A transaction can be completed with a single OTP message. Even in today's technologically advanced world, some people are unaware of the opportunities provided by Moniepoint MFB.

What is Moniepoint? How does one create an account with Moniepoint?

How does one utilize Moniepoint to transfer and receive money? This article would answer these questions and many more.

Moniepoint operates an international commercial payment and banking platform. The only purpose of this bank is to assist small and medium-sized businesses.

They accomplish this by ensuring equal access to the tools they require to expand their business.

So before knowing how to use, open and carry out other activities on moniepoint, let's see the requirements one should have before proceeding with the account opening.

Requirements for Opening an Account with Moniepoint

1. Your personal bank verification number. [BVN]

2. An internet-connected browsing electronic device.

3. A legal document that confirms your identity (e.g., Permanent Voters Card, Bank Verification Number, National Identification Number, International Passport, Driver's License).

If the necessary documents are ready, you can create your account from the convenience of your own location.

All you need to do is follow the instructions on how to open a new account below. If you have a fast connection, it will take you 5 minutes to complete the signup form.

How to Open/Create an Moniepoint Account

Step 1: Proceed to the Website

Moniepoint, like any other registered platform, is a legitimate money-based platform that allows users to register from anywhere in the country.

To register an account with Moniepoint, go to their official website.

Also, when enrolling, be sure you give your personal email address and mobile phone number.

Step 2: Provide your Information

Information is required to proceed with the next phase. The Moniepoint app signup form would ask for information about your personal life.

In addition, you will be prompted to enter your email address and phone number.

Moniepoint will request your OTP (One Time Password) for verification before proceeding to the final stage of registration.

Step 3: Verification

Once your information has been collected, you will be prompted to validate your account.

Please provide your Bank Verification Number (BVN) and identity information so that you can be validated.

You can then enter your PIN and KYC data.

When people want to know how to open a Moniepoint account, they usually battle with Step 3.

Sometimes you will be rejected due to identity concerns caused by an unclear camera during identity verification, expired documents, and so on.

You do not need to worry about that because Prime Media has brought to you a few understanding about issues like that.

To Address This Issue, the Following Suggestions Have Been Offered:

Don't register with expired certifications or documents.
Use legally recognized ID, such as the NIN (National Identity Number), BVN (Bank Verification Number), PVC (Permanent Voters Card), International Passport, and so on.
When capturing your documents, use a camera that is extremely sharp.
When capturing the image, be careful to include all of the certificate's corners.

How to Use the Moniepoint App to Receive Payments

Step 1: Launch your app

Moniepoint published their app a few years back. As a result, there has not been a large number of users using the app. Instead, they prefer the POS terminal.

Anyway, when you use the app to receive payments, you must first launch the application! If you open the app and it is out of date, update it right away.

After updating, you can run the app on your Android or iOS device.

Step 2: Accept Transfers

Once the update is complete, open the app. When you open the app, the first thing that appears is "Transfers Available". You will see a 'Accept' button; tap it.

Step 3: Share your account number

The next screen will display your account number. You can only receive money into that account if others send money to that account number.

As a business owner, you should see this as a chance to make money.

Ask consumers to transfer funds to that account number, and the app will notify you with a credit beep right away!

Step 4: Choose to Accept

Once the money has been transferred, you will be prompted to accept or reject the transaction.

Accept your transaction instantly.

Step 5: Input Details

After accepting, you will see the transaction details and amount.

The transaction data could include the sender's bank, personal name, amount, and account number.

How To Send Money With Moniepoint

Step 1

Launching your app is the first step in making payments to a person or organization.

Step 2

Tap 'Transfer'. This is located at the top of the home screen. This indicator informs Moniepoint that their customer is going to complete a transaction.

Step 3

Input the transaction details. This comprises a person's account number and banking information.

Step 4

Tap on ‘Send’.

Step 5

Complete the transaction and enter your 4-digit PIN.

Voila! Here's how to utilize Moniepoint to make a payment. You also take the same steps when it comes to paying your utility bills, airtime, cable TV, and other expenses.

In conclusion:

Moniepoint has made it easier for Nigerian consumers to transfer and receive money.

The development of fintech businesses such as Moniepoint has aided the country during times of financial hardship. Moniepoint is also an important factor in obtaining credit.

For example, a trader wishing to increase his sales can borrow funds from Moniepoint for advertising. Moniepoint, with its low interest rates, is a force to be reckoned with in the microfinance market.

Today's highlight has been the employment of Moniepoint in daily transactions.

The Microfinance Bank is making it simpler for small, medium, and large-scale entrepreneurs to compete on the same level playing field.