Moniepoint Microfinance Bank (MFB): Everything You Need To Know

Moniepoint CEO/Founder - Tosin Eniolorunda
Moniepoint Founder/CEO: Tosin Eniolorunda

Moniepoint Microfinance Bank (also known as Moniepoint MFB) is a beacon of hope for micro, small, and medium enterprises (MSMEs). As a licensed and regulated microfinance institution, authorized by the Central Bank of Nigeria (CBN), Moniepoint MFB is committed to providing affordable and accessible financial services to individual and micro, small, and medium enterprises (MSMEs).

In the dynamic landscape of Nigerian finance, MSMEs are the backbone of the Nigerian economy, and Moniepoint is using cloud technology to offer banking services to this sector and boost the Nigerian economy. However, you can checkout the list of online banks that are approved by CBN as a Microfinance Bank in Nigeria.

In this article, we’ll discuss everything you need to know about Moniepoint Microfinance Bank (MMFB), it mobile application, point-of-sale (POS) machine, products and services e.g Loans, account opening methods, customer care number and more. So, let’s delve straight in.

Moniepoint MFB’s Product and Services

Moniepoint MFB is empowering the banked, the underbanked and the unbanked with a suite of financial solutions simply by offering a wide range of products and services to individual and MSMEs, including:

Business Loan

Moniepoint MFB understands the challenges that businesses and individuals are facing in accessing capital, especially the startup capital. That’s why they offer flexible business loans without the need for collateral. You can also read the top 15 companies that funds Tech Startups in Nigeria.

Furthermore, Moniepoint MFB offers flexible business loans to MSMEs without collateral. Loans are approved within 3 days or less, and interest rates are capped at 10% per annum.

Bank Account

Moniepoint MFB offers free Savings Bank Accounts  and Business Bank Accounts to individuals and businesses with instant notifications and complete control over their accounts. The savings account possesses individual legal names and personal details while the business account carries business legal names and company details.

In addition, the microfinance bank protect its customers’ bank accounts. The institution enables instant notifications and put the power of complete account control in the hands of account holders and business owners.

Furthermore, Moniepoint MFB’s Bank Accounts comes with multiple features including unlimited withdrawals, checkbook issuance, and the convenience of online banking.

Mobile Banking App

Moniepoint MFB offers two type of mobile banking app; Moniepoint Business Banking App and Moniepoint Personal Banking App.

While the Business Banking App help MSMEs access financial services conveniently and easily, the Personal Banking App allows customers of Moniepoint Microfinance Bank to access their accounts and perform banking transactions from the convenience of their smartphones.

Furthermore, with Moniepoint Personal Banking App, you have access to wide range of features, including: account balance and transaction history, money transfers to other Moniepoint MFB accounts and to other banks in Nigeria, bill payments, airtime and data purchase, and more.

However, The Moniepoint MFB Mobile App for Businesses and Agents allow users to open and manage savings and current accounts, send and receive money, pay bills and utilities, request and repay loans, view account statements and transaction history, generate and manage POS terminals, access operational tools, such as expense cards and accounting and bookkeeping solutions.

Moniepoint Business Banking App is also known as Moniepoint Agents App or Moniepoint POS App. Meanwhile, both banking applications are available for download on the Google Play Store for Android users and Apple app store for iPhone users. Learn more about Moniepoint POS Agent App.

Point-of-Sale (POS) Terminal

Moniepoint MFB POS Terminal is a point-of-sale (POS) terminal that allows businesses to accept card payments. The terminal is issued and supported by Moniepoint Microfinance Bank, a licensed and regulated microfinance bank in Nigeria. The Moniepoint MFB POS Terminal is a popular choice for businesses of all sizes in Nigeria.

The Moniopoint POS Terminal offers a wide range of features and it is also known for its affordability, reliability, and ease of use. You can also checkout the list of CBN’s licensed POS companies in Nigeria. Here are some features of the Moniepoint MFB POS Terminal:

  • Acceptance of all major debit and credit cards, including Visa, Mastercard, Verve, and Virtual Cards.
  • Acceptance of mobile money payments, such as MTN MoMo and Airtel Money.
  • Instant transaction processing and settlement.
  • Secure transactions with PIN and OTP authentication.
  • Easy-to-use interface with clear and concise instructions.
  • Comprehensive reporting and analytics.
  • Business Banking App Management.

Additionally, Moniepoint MFB POS Terminal helps businesses to increase sales, reduce costs of card payments, enhance security and increase card payment efficiency.

How to get Moniepoint MFB POS Terminal

Getting Moniepoint MFB POS Machine is simple. The first thing to do is create a business account account and login. However, you’ll need to provide the following information; business name, business address, business registration number (CAC), valid government-issued ID, and utility bill. Learn how to start a Bureau De Change (BDC) Business in Nigeria.

Once those documents are submitted during business account registration, your account will be created and eligible for POS application. Next, request a new POS in your dashboard, fund your account and pay for the terminal. Your application will be reviewed and once approved, you’ll receive the POS machine within 48 hours.

Moniepoint MFB Customer Care

Moniepoint MFB Customer Care is available 24/7 to assist customers with any questions or problems they may have. You can contact Moniepoint MFB Customer Care through the following means:

  • Phone Number/Call: +23418889990
  • E-Mail: support@moniepoint.com
  • Live Chat: You can also chat with Moniepoint MFB Customer Care representatives on the Moniepoint MFB website and through app’s chat widget.
  • Social Media: TwitterInstagram and Facebook.

Moniepoint MFB Customer Care is committed to providing excellent customer service. You can expect to receive timely and helpful responses to your questions and problems. They also helps in troubleshooting technical problems and offer support to business owners and POS agents. In a nutshell, If you have any questions or problems with your Moniepoint MFB account or the Moniepoint MFB POS Terminal, please do not hesitate to contact Moniepoint MFB Customer Care.

Conclusion

Moniepoint Microfinance Bank is a leading microfinance bank in Nigeria, providing affordable and accessible financial services to MSMEs. Moniepoint MFB offers a wide range of products and services, including business loans, savings accounts, current accounts, payment processing solutions, and operational tools.

Moniepoint MFB is committed to helping MSMEs grow and succeed. If you are an MSME in Nigeria, I encourage you to open an account with Moniepoint MFB and enjoy the benefits of banking with a partner that is committed to helping you grow and succeed.

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