Moniepoint POS Charges 2024 — The Complete List

Moniepoint POS Charges 2023 — Complete List

Moniepoint pos

Moniepoint POS Machine

The Nigerian central bank has granted a licence to Moniepoint, or Moniepoint MFB Limited. As a community-focused bank, they offer banking services and solutions that help companies manage operations, obtain loans, and expand their businesses.

Compared to other POS platforms, Moniepoint’s POS Charges are rather modest and may even be among the least expensive in Nigeria. In contrast to other POS mobile money agent transaction fees, which are determined by the banks, Moniepoint POS fees are determined by the volume of transactions you make.

About Moniepoint POS Machine and Moniepoint Charges

You and other businesses can accept card payments through POS using a system like Moniepoint POS, for instance; print receipts for bank transfers; track payments from your walk-in clients; and, most significantly, it offers you the opportunity to generate money as a mobile money agent.

You may establish yourself as a neighbourhood mini-bank and make a sizable profit from commissions on people’s financial transactions if you use a Moniepoint POS machine. Without further ado, we will now lead you through the process of purchasing a Moniepoint POS machine, its price, and its associated fees in this guide.

Moniepoint POS Withdrawal Charges

The Moniepoint POS withdrawal fee structure changes according to the number of transactions processed through the POS device.

As the amount withdrawn rises, so do the withdrawal fees. Only 0.5 percent of the transaction value is charged by Moniepoint for withdrawals between N1 and N20,000.

Moniepoint POS Transaction Charges

A fixed payment of N100 is charged by Moniepoint for transactions over N20,000.

Moniepoint POS Deposit Charges

A fixed amount of N20 is the transaction charge charged by Moniepoint to all banks in Nigeria when you want to transfer. 

Quick Comparison Table: Top POS Machine Charges

Opay<N20,000 (0.5%)
<N10,000 (N30)
<N5,000 (N10)
>20,000 (N100 flat rate)N5,000-N10,000 (N20 Capped)
Moniepoint1 – 20,000 (0.5%)All transfers (N20)
All deposits is N20
>20,000 (N100 flat rate)
Palmpay0.5% on all withdrawalsN10 charged for all deposits

₦1 – ₦5,000 (₦30)
₦5,001 – ₦16,500 (0.6%)
All deposits capped at N25
₦16,501 – ₦100,000 (N110)
>₦100,001 (0.11%)


One of the requirements for Moniepoint’s POS agents is that they have a daily withdrawal value of at least N80,000; however, this varies depending on where you are. Additionally, as an agent, you must process at least four deposits via your POS device each day.

You would receive a 50% payback of the N25,000 paid at registration if an aggregator decides to take back your POS device within a year of it being issued to you for any reason.

You should not be concerned if you still have questions concerning problems with your POS equipment after purchasing it. Settlements and complaints involving Moniepoint Agents are typically resolved, and refunds are issued on the same day.

The Aggregator will also assign a POS machine engineer to take care of you and the other agents nearby. Every Moniepoint merchant and agent is also a member of a WhatsApp group with other agents, so they can discuss problems and share ideas.

You can reach Moniepoint by WhatsApp at +2348141500017 or send an email to with any questions or concerns.

Read also: The Complete List of POS Charges In Nigeria

FAQs on Moniepoint POS Machines and Charges

How Much is Moniepoint’s POS Price?

If you’re wondering how much the Moniepoint POS device would set you back, it’s around N25,000, which is less than the cost of the majority of POS devices you’ll find on the market.

How to Get a Moniepoint POS Machine?

You must be over the age of 18 and meet certain conditions in order to receive a Moniepoint POS. Own a smartphone, be a Nigerian, and be responsive and tech-savvy.

Additionally, you’ll need certain papers to satisfy KYC (know your customer) regulations, such as:

  • A legitimate photo ID, such as a passport, NIN, voter’s card, or driver’s licence
  • Utility Charges (waste bill, electricity bill, land-use charge, water bill, or tenancy agreement)
  • the Corporate Affairs Commission (CAC) papers (for registered businesses only)
  • Biometric Verification Number (BVN)
  • a typical account number used by all commercial banks.

The process of becoming a Moniepoint POS agent will begin if you fulfill the aforementioned conditions.

You just need to do the following actions to receive the Moniepoint POS:

  • Create an account by visiting the Moniepoint website.
  • Next, add your full name, email, phone number, and any other necessary information.
  • Then, if applicable, choose the other POS merchant service you’re using.
  • Next, click “Submit.”.
  • Within 48 hours, Moniepoint will confirm and get in touch with any new users who recently joined their site.
  • You will then be connected to the individual (aggregator) in charge of overseeing Moniepoint agents. From there, this aggregator will take over.

To complete your POS agent registration, you may also go to Moniepoint’s physical location at No.12 Wole Ariyo St, Lekki Phase 1. You will be guided by a Moniepoint employee through the registration procedure and the essential procedures to become a Moniepoint POS agent.

How do I fund my Moniepoint wallet?

  • Access your Moniepoint account after logging in, then go to the Wallet area.
  • Then, from the menu, choose Fund Wallet.
  • Then, transfer money to the selected account in accordance with the instructions you see. After that, submit a service request to reload your wallet, or call or use WhatsApp to contact Moniepoint support along with payment documentation.

Read also: MTN MoMo POS Charges

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