One of the revolutionary approaches to banking for businesses and individuals in Nigeria finance is Moniepoint Microfinance Bank (MFB), but what is Moniepoint MFB and what makes it the preferred financial platform for thousands of SMEs, agents, and entrepreneurs in Nigeria?
Moniepoint MFB tailors its services to center on what best works for their clients. This guide highlights everything worth knowing about the Moniepoint platform, its services and how to best affect you and your business.
Also see: Moniepoint Salary Structure (2025)
What is Moniepoint MFB?
Moniepoint MFB (Moniepoint Microfinance Bank) is an integrated digital banking platform that is primarily focused on business and business owners for their banking needs. Unlike most digital banking platforms that mostly cater for individuals, Moniepoint MFB focuses on servicing small and medium sized enterprises (SMEs) and enhancing their ability to streamline payment for services and products, grow their operations and streamline their operational workflows.
Founded on the strengths of Moniepoint Inc. and their first innovation agency banking (POS) terminals, through the MFB arm Moniepoint Inc. has been able to fully utilize their extensive network and trust to deliver a complete integrated business banking service.
Unique Services and Characteristics of Moniepoint MFB
1. Simple Account Opening
Forget the long and boring paperwork with traditional banks. Unlike with Moniepoint MFB, you can open a full-fledged bank account from the comfort of your home, with your smartphone, and in no time at all. Then, as soon as you are done, your account will be activated in record time. A
2. Free Transfers: A Game-Changer for Businesses
Moniepoint MFB clients can move money in their bank accounts, and make transfers at no cost. You will not have to pay a dime whenever you need to withdraw from your bank account, do transfers, or pay bills. You will also enjoy the maximum limit of the free transfers, so no need to pay excess anywhere.
3. High-Transaction Limits
Flexibility is the name of the game with Moniepoint MFB. Your account restrictions are based on low safeguards. So if you spend a lot of money, be free to disable your account any time you wish and minimize any losses. Do all these on the app, while the bank is closed.
4.Mobile Banking
With mobile banking, you will have easy and flexible withdrawals and deposits from your bank account. Anytime, anywhere, on your own mobile phone, you can make deposits or withdraw the money you need from your account.
5. Moniepoint POS Terminal & Agency Banking
Moniepoint is a leader in the agency banking space. Their reliable and durable POS terminals allow businesses (agents) to offer essential financial services like:
- Cash withdrawal
- Cash deposit
- Bills payment (electricity, TV subscriptions, etc.)
- Airtime purchase
- Funds transfer
The system provides instant settlement, ensuring agents have real-time access to their funds.
6. Comprehensive Business Tools
The Moniepoint Business app is a powerhouse for entrepreneurs. It goes beyond basic banking to offer:
- Payment Links & Invoicing: Create and send professional invoices and payment links to customers.
- Payment Integration (API): Developers can integrate Moniepoint’s payment gateway into their websites and applications.
- Business Analytics: Gain insights into your spending patterns, cash flow, and transaction history with easy-to-understand dashboards.
- Bulk Payments: Perfect for businesses that need to pay salaries or vendors en masse.
7. Robust Security
Moniepoint MFB employs bank-grade security protocols, including encryption, two-factor authentication (2FA), and transaction monitoring to keep your funds safe from fraud.
Moniepoint MFB vs. Traditional Banks: Why the Shift?
While traditional banks have their place, Moniepoint MFB addresses specific pain points for modern Nigerian businesses:
| Feature | Traditional Banks | Moniepoint MFB |
| Account Opening | Often slow, branch-dependent | Fast, fully digital, minutes |
| Transfer Fees | Charges apply per transaction | Unlimited Free Transfers |
| Transaction Limits | Often lower | Significantly higher |
| Business Focus | Generic services | Tailored tools (APIs, invoicing) |
| Customer Support | Can be slow | Generally faster, more responsive |
Who is the Target Audience?
Moniepoint MFB pays attention to parts of the economy that typical banks do not pay attention to.
- Small and Medium-Sized Enterprises (SMEs): For Moniepoint, this segment has the most attention. Moniepoint’s business banking and POS offerings greatly assist retailers, artisans, and restaurateurs, as well as small service providers.
- Merchants and Retailers: Moniepoint’s payments infrastructure can support any business that takes payments from customers, regardless of whether they do this in a formal store or a makeshift local market.
- Mobile Money Agents: The bank also services a wide range of Mobile Money Agents that extend banking services to customers in remote and rural communities.
- Individuals Seeking Reliable Digital Banking: People looking for a simple, inexpensive digital bank to facilitate everyday transactional banking can use Moniepoint’s personal banking app.
What Makes Moniepoint MFB Unique?
There are reasons why Moniepoint has built a good name and credibility in the financial industry in Nigeria, and why the company is growing at the rate that it is. There is no other service that matches the level of understanding and reliability that Moniepoint has.
Unwavering Reliability
In a situation when a business is expecting a loss of income due to downtimes in service, reliability becomes a priority. Moniepoint has built a reputation for maintaining one of the most stable systems, especially with respect to its POS transactions.
Deep Customer Understanding
Moniepoint understands merchants and ‘everyday solutions’ are more than tested prototypes and lab theories. The features, support structures, and fee arrangements are custom-built around every business owner’s proposition. This dedication to practical solutions is what sets Moniepoint apart.
Integrating Technology
Moniepoint MFB (Microfinance Bank) is not an exception to the digitization of banking. Moniepoint’s banking platform is flexible, innovative, and safe. The First Technology Approach enables Moniepoint to introduce features in real time to streamline banking on apps and POS (Point of Sale) terminals.
Beyond Finances
Moniepoint amplifies the value realized in financial services. Business empowerment with credit facilities, dependable payment infrastructure, and financial management systems encourages the growth of SMEs (Small and Medium-sized Enterprises). This growth leads to job creation and economic stability. It’s the transformation, not just the transactions, that’s important.
How to Open a Moniepoint MFB Account in 4 Easy Steps
Opening an account is a straightforward process:
- Download the App: Get the “Moniepoint Business” app from the Google Play Store or Apple App Store. For personal use, you can download the “Moniepoint Personal” app.
- Sign Up: Launch the app and click on “Create an Account.”
- Verify Your BVN: Enter your Bank Verification Number (BVN) for verification. This step is mandatory for KYC (Know Your Customer) purposes.
- Complete Your Profile: Fill in your personal and business details as required. Once submitted, your account is activated immediately.
Careers at Moniepoint (MFB)
To look for available job opportunities at Monepoint, go to their official career page/ Moniepoint job portal to see latest job listing:
Contract Moniepoint Microfinance Bank (MFB)
Nigeria
Address: The Post Square, Off Adeola Odeku, Victoria Island, Lagos, Nigeria
Email: info@moniepoint.com
Phone: 0201 888 9990
Website: https://moniepoint.com/
Final Word: Is Moniepoint MFB Right for You?
Moniepoint MFB has positioned itself as the business bank that understands business needs. With its cost effectiveness (free transfers), high limits, and powerful suite of business tools, it has become an indispensable tool for serious Nigerian entrepreneurs.
While it does not have the physical branch network of tier-1 banks, its digital-first approach and extensive agent network more than compensates. In times when saving costs and efficiency are the most important, Moniepoint MFB delivers outstanding value.