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Moniepoint Charges | How much does POS agent charge per transaction in 2023?

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Moniepoint Charges Are you a Moniepoint user or considering becoming one? Do you want to know more about the charges involved in your transactions? Look no further! In this informative guide, we’ll walk you through the Moniepoint charges and help you understand how they can impact your business.

Introduction

Welcome to the world of Moniepoint, the leading fintech company powering businesses in emerging markets. As a business relationship manager at Moniepoint, I’m here to provide you with valuable insights into our charge rates and how they can benefit your business. If you need to generate RRR see, Remita Customer Care | Phone Number, Email, and Physical Address

Why Choose Moniepoint?

Before we delve into the nitty-gritty of our charge rates, let me share why Moniepoint stands out as the preferred choice for many businesses in Nigeria. Our platform offers a seamless and cost-effective way to handle payments, banking, and operations, making it the ideal solution for small and medium-sized enterprises.

Understanding Moniepoint Charges

At Moniepoint, we believe in transparent pricing and ensuring that our charges remain competitive to support your business growth. Let’s break down our charge rates for various transactions:

1. Withdrawal Transactions

For withdrawal transactions, our charges are based on a simple and fair formula. You will be charged ₦5 for every ₦1,000 withdrawn. This means that for a ₦30,000 withdrawal, the charge would be ₦150 (₦5 * 30). It’s worth noting that our charges are the lowest in Nigeria, giving you a competitive advantage.

2. Special Offer for New Agents

If you are a new agent just starting with Moniepoint and processing transactions below ₦100,000 daily, you are eligible for a special rate. You will be charged a flat fee of ₦100 for any withdrawal amount, making it a cost-effective option to kickstart your business.

3. Flat Rate for Withdrawals above ₦20,000

Once your daily transactions exceed ₦100,000 and you achieve a higher star rating, all withdrawals above ₦20,000 will be charged a flat fee of ₦100. This allows you to optimize your earnings as your business grows.

How much does POS agent charge per transaction?

Transaction Type Transaction Amount Range Convenience Fee
Withdrawals ₦1,000 to ₦4,900 ₦5
₦5,000 to ₦10,900 ₦5
₦11,000 to ₦20,900 ₦5
₦21,000 to ₦30,900 ₦5
₦31,000 to ₦40,000 ₦5
₦41,100 to ₦50,000 ₦5
Deposit Transactions ₦1,000 to ₦4,900 ₦100
₦5,000 to ₦10,900 ₦200
₦11,000 to ₦20,900 ₦300
₦21,000 to ₦30,900 ₦400
₦31,000 to ₦40,000 ₦500
₦41,100 to ₦50,000 ₦600
Transfer Transactions ₦1,000 to ₦4,900 ₦100
₦5,000 to ₦10,900 ₦200
₦11,000 to ₦20,900 ₦300
₦21,000 to ₦30,900 ₦400
₦31,000 to ₦40,000 ₦500
₦41,100 to ₦50,000 ₦600

Please note that the convenience fees mentioned above are based on the specified transaction amount ranges for deposit and transfer transactions. These charges are applicable to Moniepoint POS agents and may be subject to change over time. For the most current and accurate charge rates, agents are advised to refer to Moniepoint’s official website or contact their customer support team.

Moniepoint POS Charges in 2023

As of 2023, Moniepoint offers competitive and customer-friendly POS charges to empower businesses and enhance financial transactions. Let’s explore the POS charges for different types of transactions:

  1. Transaction Fee per Transaction: Moniepoint charges a nominal fee of ₦2 to ₦20 per transaction. This means that for each transaction processed through Moniepoint POS, the fee will be between ₦2 and ₦20, depending on the specific transaction amount.
  2. Withdrawals up to ₦20,000: Moniepoint offers an attractive rate for withdrawals up to ₦20,000. They charge only 0.5% of the transaction amount. This means that for withdrawals up to ₦20,000, the fee will be 0.5% of the withdrawn amount.
  3. Transactions above ₦20,000: For transactions above ₦20,000, Moniepoint applies a flat rate of ₦100. This ensures a consistent and predictable fee structure for larger transactions, providing convenience and ease of budgeting for businesses.
  4. Money Transfers: Moniepoint charges a flat rate of ₦20 for money transfers. This fee applies to each money transfer transaction processed through Moniepoint POS.

These charges are designed to be transparent and cost-effective, enabling businesses to thrive and providing customers with a seamless financial experience. As a Moniepoint POS user, it’s essential to keep yourself updated on any potential changes to the charge structure by visiting Moniepoint’s official website or reaching out to their customer support team.

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Remember, Moniepoint POS is not just about affordable charges; it also offers efficient and reliable services to meet the financial needs of businesses and individuals alike.

How much is the Moniepoint terminal?

Moniepoint Terminal Price and Availability

Moniepoint offers an affordable and accessible POS terminal solution for businesses. As of 2023, the Moniepoint POS terminal is available at a cost of N28,000 (twenty-eight thousand Naira only). This one-time payment allows businesses to acquire the POS device and enjoy its benefits.

With the competitive price of N28,000, businesses can gain access to a reliable and efficient POS terminal to facilitate seamless financial transactions. The Moniepoint POS device is equipped with the latest technology to ensure the secure and swift processing of payments and other financial services.

Additionally, the process of obtaining a Moniepoint POS terminal is remarkably convenient. Upon making the payment of N28,000, businesses can expect to receive the POS device within 24-48 hours, ensuring a quick setup to start accepting payments and offering financial services to customers.

By investing in the Moniepoint POS terminal, businesses can enhance their operations, offer better customer service, and expand their revenue streams through various payment options.

What is the interest rate for Moniepoint?

The interest rate for the Moniepoint Merchant loan is 0.3% daily or 0.0125 per hour. This means that if a merchant borrows funds from Moniepoint, they will be charged an interest rate of 0.3% of the loan amount per day or 0.0125 per hour until the loan is fully repaid.

It’s important for merchants to carefully consider the terms and conditions of the loan before availing it. They should be aware of the interest rate and repayment schedule to ensure that they can comfortably manage the loan and meet the repayment obligations on time.

As interest rates can have a significant impact on the overall cost of borrowing, merchants should assess their financial situation and need before deciding to take a loan from Moniepoint or any other financial institution. Transparency and clear communication between the merchant and Moniepoint are essential to ensure a successful borrowing experience.

What is the daily limit for Moniepoint POS?

the daily limits for Moniepoint POS transactions are as follows:

  1. Cash Withdrawal Limit via ATM: The maximum cash withdrawal limit through an Automated Teller Machine (ATM) is N100,000. However, there is a restriction on the maximum cash withdrawal per day, which is capped at N20,000. This means that a customer can withdraw up to N20,000 in cash from an ATM using their Moniepoint card on any given day.
  2. Denominations for ATM Withdrawals: Only denominations of N200 and below shall be loaded into the ATMs, implying that the available cash for withdrawal will be in smaller denominations.
  3. Point of Sale (PoS) Transactions Limit: The maximum daily withdrawal limit via Point of Sale (PoS) terminals is N20,000. This means that customers can make payments or withdraw up to N20,000 daily through PoS transactions using their Moniepoint card.

It’s important to note that these daily limits are subject to any potential changes or updates made by Moniepoint in the future. Customers and merchants should stay informed about the latest limits and guidelines by referring to Moniepoint’s official website or contacting their customer support team for the most current information. As a Zambian see one of the trending app, Mwachangu Zambia Review | How to Use the Mwachangu Loan App

Conclusion

Thank you for choosing Moniepoint as your trusted fintech partner. We hope this comprehensive guide has shed light on our charge rates and how they can positively impact your business. With Moniepoint, you enjoy competitive rates, transparent pricing, and a powerful platform to support your business growth.

If you have any further questions or need assistance, feel free to reach out to our dedicated customer support team. Your success is our priority, and we are here to help you every step of the way.

Frequently Asked Questions (FAQ)

Let’s address some common questions you may have about Moniepoint charges:

Q1. Can I change the charge rates for my customers?

Absolutely! As a Moniepoint agent, you have the freedom to set your own charge rates based on your business’s specific needs. Factors like competition, accessibility to cash, and daily transaction volume should be considered when determining the charges for your customers.

Q2. Will I be charged additional fees from other banks for withdrawal transactions?

No, Moniepoint ensures that your customers are not burdened with additional charges from other banks when they perform withdrawal transactions. The only charge they incur is the transparent Moniepoint fee.

Q3. Are there any hidden fees in the Moniepoint charges?

Moniepoint prides itself on transparency, and there are no hidden fees in our charges. The rates we’ve shared with you are all you need to know for your transactions.

Together, let’s power your business dreams with Moniepoint!

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2 Comments

2 Comments

  1. Jolo tufine Abraham

    November 16, 2023 at 10:55 pm

    I really want to be an agent on moniepoint and I don’t know the amount it will cost for the post machine please do as to reply me because there is no time to waste because time is money I want to be a business man please I really want to be an agent with moniepoint thanks.

    • kaka

      November 17, 2023 at 7:23 am

      To get the POS, you have to pay N21,500

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