How To Create Moniepoint Account: Step-by-Step Guide

Step-by-Step Guide to Creating a Moniepoint Account Easily

Moniepoint is a leading digital banking platform in Nigeria that offers a wide array of financial services through user-friendly mobile apps. Opening a Moniepoint account allows you to access services like airtime top-up, funds transfer, savings, investments, loans and more, right from your smartphone.

This comprehensive guide will provide step-by-step instructions on how to easily create a new Moniepoint account either on iOS or Android devices.

How To Create Moniepoint Account: Step-by-Step Guide

Introduction to Moniepoint

Moniepoint commenced operations in 2020 and has gained rapid popularity among digitally savvy Nigerians due to its innovative financial solutions. Some key features offered by Moniepoint include:

  • Digital wallets for sending, receiving and storing money.
  • Domestic remittances with zero fees.
  • Savings accounts with up to 15% interest.
  • Airtime and data purchase in one click.
  • Loans and consumer credit facilities.
  • USD virtual and debit cards for global payments.
  • Buy/sell cryptocurrency like Bitcoin, Ethereum etc.

To start enjoying these services, you need to create a Moniepoint account and complete a quick KYC verification. The account opening process is fully digital and completed within minutes.

Benefits of Opening Moniepoint Account

Here are some major benefits of creating your own Moniepoint account:

  • Convenience – All financial services available 24/7 on your phone.
  • Cost-saving – Zero account maintenance fees and low transfer charges.
  • Secure – Funds protected by encryption and 2-factor authentication.
  • Returns – Attractive interest rates on savings and investments.
  • Easy onboarding – Paperless digital account opening process.
  • Fast disbursals – Get instant loans credited to your wallet.
  • Budgeting – Expense tracking tools to manage your money better.
  • Global access – Make international payments through virtual USD card.

Step-by-Step Account Opening Process

Follow these steps to create your Moniepoint account seamlessly:

Step 1) Download the Moniepoint App

Moniepoint account opening is only available on the mobile apps for now.

  • For Android phone, go to Play Store. For iPhone, open App Store.
  • Search for “Moniepoint”. Download the app.
  • Tap “Install” and launch the app after installation completes.

Step 2) Tap on “Sign Up”

  • When you open the Moniepoint app for the first time, you will see an option to “Sign Up” on the homepage.
  • Tap on the “Sign Up” button to initiate the new account creation process.

Step 3) Enter your Phone Number

  • On the next page, you have to enter your phone number linked with the SIM card in your phone.
  • This number is verified and linked to your account.
  • Check and enter your phone number correctly in the first text field.

Step 4) Enter the OTP received

  • After tapping “Next”, an OTP (one-time password) is sent to the mobile number you provided.
  • Open the SMS received and input the 6-digit OTP on the Moniepoint app screen.
  • This step verifies your phone number.

Step 5) Provide your BVN and Date of Birth

  • Next, you have to provide your BVN number and date of birth as per records.
  • Fetch your BVN slip to correctly enter the 11-digit BVN in the field.
  • Select your Date of Birth from the calendar picker option.
  • Tap “Next” after entering accurate details.

Step 6) Set Account Credentials

  • Create a username of your choice in the first field. Avoid common names.
  • Next, create a strong password adhering to the password policy shown.
  • Confirm the password by retyping it. Tap “Next”.

Step 7) Set 4-digit Transaction PIN

  • You now have to configure a 4-digit PIN for approving transactions from your account.
  • This PIN will be required when transferring money or making payments.
  • Choose an easy to remember but random PIN. Re-enter to confirm.

Step 8) Complete Profile and KYC Verification

  • Once the above steps are completed, your Moniepoint account is opened but will remain in pending status.
  • You have to complete your full profile and KYC verification to get an approved account.
  • Follow the instructions in the app to upload ID proof, selfie, fingerprint etc.
  • The KYC process may take 1-3 days for approval after submission.

Step 9) Fund Your Account

  • Upon KYC approval, your Moniepoint account will become fully active.
  • You can now optional fund your wallet to use it for payments.
  • Add money via bank transfer, card, cash deposit or linking another bank.
  • Minimum opening balance is not required for Moniepoint account.

Once your wallet is funded, you can start enjoying the wide range of services offered by Moniepoint seamlessly!

Tips for Smooth Account Opening

Here are some useful tips to ensure your Moniepoint account creation is quick and hassle-free:

  • Have your BVN slip handy to input the correct number.
  • Double check the mobile number provided as all communication is on it.
  • Save the password securely as you will need it to login once approved.
  • Use good lighting when capturing your photo and fingerprints for proper verification.
  • Provide valid ID proof like national ID, voter ID or driver’s license for KYC.
  • If any detail is incorrect, contact support to rectify before account approval.
  • You can speed up KYC by completing profile details accurately.

Troubleshooting Account Opening Issues

Despite the straightforward process, you may face some common problems when creating your Moniepoint account. Here are tips to resolve them:

OTP issues: If not receiving the OTP, ensure the number provided is correct. Change SIM if you entered another person’s number. Contact support if issue persists.

Incorrect details error: Cross-verify all information entered especially your BVN, name, DOB are accurate. Account will get rejected if data is wrong.

KYC failed: If your KYC verification is rejected, it’s likely the documents were unclear or insufficient. Carefully re-submit ensuring all requirements are met.

Account not approved: Approval after KYC may take 1-3 working days. Allow some time for processing and check status in the app. Contact support if pending for long.

Forgotten credentials: Use forgot password or username option if you forget login details after account approval. Passwords can be reset via OTP.

FAQs on Moniepoint Account Opening

Here are some common questions relating to creating a new account on Moniepoint:

Is Moniepoint account creation free? Yes, there are no charges for opening a basic Moniepoint account digitally. However, you need to fund the wallet to use it.

How long does it take to open a Moniepoint account? Account opening takes just 5-10 minutes. However, KYC verification may take 1-3 days for approval after which the account is fully active.

What documents are needed for KYC? You need a valid government ID like national ID card, driver’s license, passport etc along with a selfie and fingerprints for KYC verification.

Can I open multiple Moniepoint accounts? No, you can only open one account on Moniepoint with unique KYC documents. However, you can create multiple wallets within the same account.

Is there a minimum balance requirement? No, you can open a Moniepoint account with zero balance. There is no minimum account balance requirement.

How do I fund my new Moniepoint account? You can fund your wallet through bank transfer, debit/credit card, linking a bank account, cash deposit and more. Add money only after KYC approval.


Creating a Moniepoint account is quick and straightforward following the step-by-step process outlined in this guide. Within a few minutes, you can complete registration and proceed to KYC verification for account approval.

Remember to provide accurate credentials and personal information throughout the process. Follow the tips suggested to avoid any potential errors or issues. Once your account is ready, you can start enjoying a host of digital financial services offered by Moniepoint easily.


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