The Complete List of POS Charges In Nigeria

Complete list of POS Machine Charges In Nigeria

POS machine image

There is no doubt that POS is one of the fastest means of getting cash and performing several other transactions when a bank’s ATM is not dispensing cash. However, POS with agents often charge fees due to the cost of maintenance and the running of transactions with their machines.

Now it is one thing to just want your transactions done and it’s another thing to want your transactions completed at a cheap rate-not costing much. And that’s where you begin the search for a POS with a cheap rate. The purpose of this article is to provide you with an extensive list of the POS machine charges in Nigeria.

Moniepoint POS Charges

Moniepoint is inarguably one of the best POS machines in Nigeria with very nice and affordable charges for all transactions alongside its fast and reliable network. 

  • Moniepoint POS charges 0.5% of the transaction amount for withdrawals between 1 – 20,000 naira.
  • They have a flat rate of ₦100 for transactions above ₦20,000
  • They also have a flat rate of ₦20 for transfers.

Moniepoint offers a certain percentage commission for each network and utility package. Some of them are listed below:


Opay POS Charges

Opay is also one of the best POS machines in Nigeria, offering its customers a smooth, secure, and fast network for making transactions. Opay POS charges go as low as 5% per transaction. However, note that the initial charge is 0.6% and then 0.5% when you upgrade to Preferred Opay Merchant status.

The charges in detail are highlighted below:

  • Withdrawals less than ₦20,000 are charged at 0.5% of the transaction amount. 
  • When it is above ₦20,000, the charge is at a flat rate of ₦100.
  • Transfers below ₦10,000 are charged for ₦30.
  • Deposits below ₦5,000 have a charge of ₦10 while above ₦5,000 to ₦10,000 has a flat rate charge of ₦20. Transfers far above ₦10,000 are ₦30.
  • For top-up, they have commissions on it: MTN 3%, GLO 4%, Airtel 4%, and 9 Mobile has 4.5% commission.
  • For utility bills, the commission is stated thus: DSTV 2%, GoTV 2%, StarTimes 2%, etc.

Meanwhile, your current level with Opay will determine the commission you will get from these charges. The different levels on Opay include:

Different levels on Opay
S/NLevelDaily Transaction limitMaximum Account Balance
1.Regular Merchant(Tier 1)₦50,000₦30,000
2.Tier 2₦200,000₦500,000
3.Tier 3₦5,000,000Unlimited

Baxi POS Charges

This is one of the most recommended POS Machines known for its many discounts and lots of commissions being offered to their agents and customers.

  • The withdrawal charge is 0.55% for cash less than ₦20,000 with
  • ₦100 flat rate for ₦20,000 – ₦100,000.
  • A flat rate of ₦150 is for ₦100,000 and above.

For deposits and transfers, they only charge ₦30 and they also do not charge when you make bill payments. Meanwhile, you get a commission thereafter. 

The table below consists of the rate of the commissions for each network and package.


First Bank POS Charges

This is popularly known as FirstMonie and they are one of the best banks for POS business as they have friendly and affordable prices and charges.

Transaction AmountCharges
Below ₦1 – ₦5,000₦50
₦5,001 – ₦30,000₦100
₦30,001 – ₦100,000₦150
₦100,000 & above₦200
  • Bill payment has a flat rate of ₦100
  • Airtime top-up is free.
  • Cash withdrawal of ₦1 – ₦10,000 is  ₦100
  • from ₦10,000 – ₦100,000 is ₦200. 
  • Any Cash withdrawals above ₦100,000 are ₦300.

Bank POS Charges

Bank charges 0.3% on withdrawals and a ₦35 flat rate charge on all transfers.

Meaning that the charge for ₦1,000 is ₦5, ₦2,000 is ₦10, ₦3,000 is ₦15, 

₦10,000 is ₦50, ₦20,000 is ₦100. Any amount above ₦20,000 is ₦100.

Commission on services:

  • MTN – 1.6%, GLO – 2.8%, AIRTEL – 1.76%,
  • Etisalat – 2.8%
  • For TV subscription: DSTV – 1.2% to 1.4%, 
  • IKEDC – 1.2% 
  • IBEDC – 0.8%
  • AEDC – 0.96%

Kolomoni POS Charges

Withdrawal amountCharges

There is a commission of 2.15% on every recharge card you sell on the Kolomoni App & POS.

For transfers: You can transfer from your wallet to any commercial bank account at reduced charges. 

  • Any amount less than ₦5,000 is charged at ₦8.50.
  • ₦5,001 – ₦50,000 is charged at ₦21.25.
  • Above ₦50,000 is charged at ₦37.50.
  • For Airtime and data purchase, you earn a 1% chargeback as a commission on all networks.
  • A cable TV subscription has a chargeback of ₦50 on all amounts.

Accelerex POS Charges

Accelerex is also widely known as Rexpay and their fees are set at 1.5% per transaction (all capped at ₦1,600).

itex POS Charges

1.₦1 – ₦5,000₦20
2.₦5,001 – ₦9,999₦40
3.₦10,000 – ₦15,000₦85
4.₦15,001 – ₦20,000₦125
5.₦20,001 – ₦50,000₦150
6.₦50,001 – ₦100,000₦200
7.₦100,000 & above ₦300

Fund transfer:

  • Transactions between ₦1 – ₦500,000 have a flat rate of ₦20.
  • The processing fee for the local payment method is 1.4% per transaction. 

Agent commissions are enlisted below:

Ikeja Electricity1.40%
Eko Electricity1.20%
Abuja Electricity1.80%
Ibadan Electricity0.5%

Payforce POS Charges

  • All deposits are charged at ₦25.

Withdrawals between: 

  • ₦1 – ₦5,000 is charged ₦30
  • ₦5,001 – ₦16,500 is charged 0.6%
  • ₦16,501 – ₦100,000 is charged ₦110
  • ₦100,001 and above are charged 0.11%.

The table below is the breakdown of the POS charges

Above ₦20,000₦100

There is 10% cashback (commission) on every Payforce POS withdrawal while every deposit is charged for just ₦25.

When an agent purchases airtime, pays for a customer’s electricity bill, or cable subscription, he gets a commission as follows:

Top up: MTN – 2.8%, Glo – 3.8%, Airtel – 3.8%, Mobile9 – 3.3%

TV Subscription: DSTV – ₦60, GoTV – ₦60

Electricity bills: IKEDC – 1.7% of value plus ₦50 commission. 

PHEDC: 0.8% of value plus ₦50 commission.

IBEDC: 1.8% of value plus ₦50 commission.

Readycash POS Charges

There is a commission on every transaction made through a ReadyCash POS. You earn by charging customers ₦100 for every transfer while you will be charged ₦9, remaining ₦91 for you as commission.

For withdrawal, there is a charge of 0.8% of the amount. The agent decides how much to charge you. Let’s say you withdraw ₦10,000, the agent will be charged ₦80, so he can choose to charge you ₦200.

Flutterwave POS Charges

Flutterwave generates revenue by charging a fee on transactions. It charges a 2.9% fee for local card transactions and 3.8% for international card transactions. These transactions have different limits depending on the type of account. However, the processing fee has been capped at a maximum of ₦2,000.

Read also: Flutterwave POS: All You Need To Know

Pocketmoni POS Charges

As an agent, you get to benefit through the following ways,

  • You will be entitled to getting 40% of the transaction fee charged to your registered user
  • You will earn a minimum of ₦50 of the convenience fee paid by customers at your location as an agent.

Paycentre POS Charges

Withdrawals₦1 – ₦5,0000.75%
₦5,001 – ₦10,000₦55
₦10,001 – ₦15,000₦75
₦15,001 – ₦20,000₦95
Transfer/Deposit₦1 – ₦5,000₦10.50
₦5,001 – ₦50,000₦26.25
Above ₦50,000₦50

Agents are given 20% of funds transfer transaction charges.

Dotpay POS Charges

  • They charge 0.5% for withdrawal transactions of ₦1 – ₦19,999. 
  • They charge ₦100 flat rate from ₦20,000 and above.
  • The flat rate for a deposit is ₦20.
  • There is only a 1% commission on bills payment.

Access POS Charges

This bank’s agency in charge of POS banking is Access Closa Agent. Access bank presents low transaction fees and the current POS charges include:

₦1 – ₦5,000₦100
₦5,001 – ₦10,000₦200
₦10,001 – ₦15,000₦300
₦15,001 – ₦20,000₦400

Read also: The Cheapest POS Charges in Nigeria

FAQ About POS Charges in Nigeria

What are the cheapest POS charges in Nigeria?

Getting to choose which POS has the cheapest charges is subject to the urgency of our need for cash or to perform similar transactions. But then there is always a choice on how to manage time and highlighted below (although not limited to) are the POS with the cheapest charges.

  • Bankly:  0.3% on withdrawals and ₦35 on transfers.
  • Paycenter: ₦10.5 – ₦26.25 charges for transactions of ₦50,000 and below and ₦50 for any transaction above ₦50,000.
  • Moniepoint: 0.5% on withdrawals of ₦20,000 and below and a flat rate of ₦100 for transactions above ₦20,000.
  • Opay: 0.6% charges below ₦20,000 and ₦120 above ₦20,000.

What are the POS machines without charges?

Quite frankly, there is no POS machine without charges. It is either there is a hidden charge plan to surcharge you or there is an error in the estimation. Because every time an agent performs any transaction, they are charged. So there cannot possibly be a POS machine without charges.

What are the Moniepoint POS withdrawal charges?

As already stated in this article, Moniepoint POS charges 0.5% of the transaction amount for withdrawals between ₦1 – ₦20,000. And they charge a flat rate of ₦100 for every transaction above ₦20,000. They have a flat rate charge of ₦20 for transfers.

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