Moniepoint is one of Nigeria's biggest financial platforms, best known for its POS terminals and agent network but now also a full personal and business bank. This 2026 guide explains what Moniepoint is and whether it's safe, how to open a personal account, the *5573# USSD code, how to become an agent and get a POS (and what it costs), the POS and transfer charges, the business loans on offer, and the official customer care number.
What is Moniepoint and is it safe?
Moniepoint is a Central Bank of Nigeria–licensed institution operating under a national microfinance bank licence, and customer deposits are insured by the Nigerian Deposit Insurance Corporation (NDIC). It began as a payments and agent-banking provider and has grown into one of the largest processors of POS transactions in the country, alongside personal and business accounts. Being CBN-licensed and NDIC-covered means it is a regulated bank, not an informal app — which matters when you're holding balances or running an agent business through it.
How to open a Moniepoint personal account
Opening a personal account is done entirely in the app:
- Download the Moniepoint Personal Banking app;
- Sign up with your email or phone number and set a password and PIN;
- To upgrade your KYC level and fully activate the account, choose NIN or BVN verification, confirm your details, and complete a live face verification in the app.
Once verified, you get an account number for transfers, bill payments and savings, with higher limits than an unverified wallet.
Moniepoint USSD code: *5573#
The official Moniepoint USSD code is *5573#, and it works offline without data — useful when you have no internet. Its key functions include:
- Transferring funds;
- Buying airtime and data;
- Checking your balance;
- Retrieving OTPs;
- Resetting your PIN;
- Blocking or unblocking your account or card.
Because it covers security actions like blocking a card and resetting a PIN, *5573# is worth memorising for emergencies even if you normally use the app.
How to become a Moniepoint agent and get a POS
Moniepoint's POS terminals are how many Nigerians run a cash-in/cash-out business. To get one, open a Moniepoint Business account, go to the "POS" menu on your dashboard, and request a new terminal. The terminal costs ₦21,500, made up of:
| Component | Amount |
|---|---|
| Caution fee (refundable deposit) | ₦10,000 |
| Logistics fee | ₦10,000 |
| Yearly insurance | ₦1,500 |
| Total | ₦21,500 |
Active agents are expected to process a minimum of about ₦80,000 in transactions daily — terminals that stay idle can be reassigned. If you transact steadily, the commission on withdrawals and transfers is where the income comes from.
Moniepoint POS and transfer charges
The agent/POS pricing in 2026 is:
- Withdrawals ₦1–₦20,000: 0.5% flat rate;
- Withdrawals above ₦20,000: ₦100 flat;
- Transfers: ₦20 flat;
- Airtime: around 2% on the networks.
On top of the ₦20 transfer cost, the government's stamp duty now applies (see below). For most small cash-outs, Moniepoint's 0.5% rate is competitive with other agent networks.
The ₦50 stamp duty on transfers
A new Nigeria Tax Act 2025 took effect on 1 January 2026, introducing a ₦50 stamp duty on electronic transfers of ₦10,000 and above. This is a government levy deducted directly from the sender's account, and it applies across banks and fintechs — not just Moniepoint. Importantly, transfers below ₦10,000, salary payments, and intra-bank self-transfers are exempt. So moving money between your own Moniepoint accounts, or sending under ₦10,000, avoids the duty; sending ₦10,000+ to someone else attracts the flat ₦50.
Moniepoint business loans and overdraft
Moniepoint does not offer personal loans, but it provides working-capital loans and overdraft facilities to eligible business accounts. Approved businesses can access collateral-free loans starting from ₦1 million, with effective annual interest rates ranging roughly between 24% and 40%. Eligibility is based on your transaction history through Moniepoint, so consistently processing payments on the platform is what builds access to credit. If you need a personal loan instead, Moniepoint isn't the route — look at dedicated lending apps.
Moniepoint customer care
The official Moniepoint customer care number is +234 201 888 9990. Use it for failed transactions, POS disputes, account access issues or settlement queries. As with any bank, never share your PIN, password or OTP with anyone — genuine support staff will never ask for them. For POS agents, settlement and dispute issues can also be raised through the business dashboard, and keeping your transaction references handy speeds up any reversal.
Is Moniepoint worth it in 2026?
For agents, Moniepoint remains one of the strongest POS businesses in Nigeria — competitive charges, fast settlement and a trusted brand, provided you can hit the daily transaction minimum. For personal users, it's a solid CBN-licensed, NDIC-insured account with a reliable *5573# USSD fallback. Just remember the model: no personal loans (business credit only), the standard ₦50 stamp duty on transfers of ₦10,000+, and the ₦21,500 cost to start as an agent. Used for what it's built for — payments, agent banking and business accounts — it's one of the most dependable platforms in the market.