Opening a business account with Moniepoint is easier than you might think.

Moniepoint allows businesses to open online business accounts quickly and securely. With this account, you can easily and quickly manage your finances, and you will have access to a range of features and services that are designed to help businesses grow.

This guide will walk you through the step-by-step process of opening a Moniepoint business account. We’ll cover everything from creating an account to adding your banking details so that you can start managing your business finances in no time at all.

We’ll also offer tips and advice on how to get the most out of your Moniepoint account so that you can make sure your finances are working for you. So, let’s get started!

What types of Moniepoint business accounts are available in Nigeria?

Banks here typically offer three types of accounts:

A current account for day-to-day transactions like payments to customers and paying bills, a savings account for saving toward short-term or long-term goals,

A corporate account, especially for large organizations and companies that require higher minimum deposits.

Additionally, the domiciliary account enables businesses to hold and transact in foreign currencies, helping those who trade abroad or collaborate with overseas partners.

Benefits of Opening a Moniepoint Business Account

Opening a Moniepoint business account has plenty of benefits for entrepreneurs. After all, you want to take advantage of the best options for your business when it comes to payments and money transfers.

A Moniepoint business account offers:

*No minimum balance requirements

*Unlimited transactions and money transfers

*Secure online banking platform with multiple layers of protection

*Multicurrency accounts, so you can accept payments in multiple currencies

*Integrations with popular e-commerce platforms and services such as Shopify, Stripe, and PayPal

*Competitive exchange rates on international payments.

Plus, if you ever need help, Moniepoint’s award-winning customer support team is available 24/7. With a Moniepoint business account, you’ll have everything you need to manage your finances quickly and securely.

Prerequisites to Setting Up a Moniepoint Business Account

If you’re ready to open a Moniepoint Business Account, there are a few prerequisites that must be met before you can start the process.

  • First, you’ll need a registered business name from the corporate affairs commission of Nigeria. These are important to ensure that your account is established in the right way and allows us to adhere to our customer due diligence requirements.
  • You’ll also need to provide your contact information, including name, address, email address, phone number,
  • Provide either your International Passport, Driver’s License, and Permanent Voter’s Card. National Identification Number (NIN) and your BVN (bank verification Number).
  • This information will be validated with an electronic records check against the corporate affairs commission and any applicable sanctions lists.

These steps help ensure that Moniepoint can properly authenticate you as an account holder and identify any risks associated with the account. By completing these simple steps, you’ll put yourself on the path toward a smooth setup experience with Moniepoint’s business accounts.

Documents Needed to Register a Business Account

Now that you’ve decided to open a Moniepoint business account, it’s time to collect the documents you will need to get started.

Business License or Certificate

The first document you need is a business license or certificate, depending on the type of business you are running. This verifies your business status and shows that your company is legally registered. You can usually obtain these documents from the state agency in your area.

Tax Information

The second document required by Moniepoint is documentation that confirms your business identity with the IRS (Internal Revenue Service). This includes a Tax Identification Number for special types of businesses, such as partnerships.

Bank Statements and References

Finally, Moniepoint will require bank statements from all parties involved in opening and maintaining the account, along with three personal references who can vouch for each party’s identity and financial responsibility.

Gathering these documents ahead of time will help ensure a smoother application process when you’re ready to apply for a Moniepoint business account!

How to Set Up a Moniepoint Business Account

Opening a Moniepoint Business Account is easy and only takes a few steps. Here’s what you need to do:

Step 1: Gather Required Documents

You’ll need the following documents to complete your application:

  • Government-issued identification (such as a driver’s license)
  • Business license or formation document
  • Bank account information (BVN)
  • NIN number of the business owner

Step 2: Create a Moniepoint User Account

Go to the Moniepoint website homepage or download Moniepoint mobile app and create an account by entering your email address, creating a secure password, and answering the security questions.

Step 3: Complete Your Application

Once your user account is created, you will then be able to begin your business application. You will need to provide basic information such as business name, address, phone number, and other relevant contact information. We also ask for information about your business size, industry type, and annual sales. You will also be asked to enter bank account information so that you can link it to your Moniepoint account.

Finally, you will also be required to provide some personal information such as BVN Number. This is necessary for identification purposes only and will not be used for any other purposes.

Once everything is submitted, our team of experts will review your application and reach out with updates within 2 business days.

Tips on Managing Your Moniepoint Business Account

Managing your Moniepoint business account doesn’t have to be a time-consuming task. Here are some tips to help you get started:

1. Set Up Separate Accounts

If you have multiple business owners contributing to the Moniepoint business account, you can set up separate accounts for each of them. This allows each person to track their own payments, expenses, and other financial activities.

2. Monitor Your Spending Habits

Track how much money you’re spending each month by reviewing your statements and payables reports. Setting a budget can help ensure that your finances stay on track and that you’re not overspending.

3. Stay on Top of Bill Payments

Make sure to pay all of your bills on time to avoid late fees and other penalties. Also, consider automating certain recurring payments so you don’t have to worry about making them manually each month.

4. Take Advantage of Technology & Solutions

Moniepoint offers many advanced technological solutions that make managing your business easier than ever before. From convenient mobile banking apps to integrated payroll systems, there are plenty of opportunities to streamline everyday tasks and keep your finances organized.

Troubleshooting Common Account Issues

Sometimes, things don’t go as planned and you might run into some common issues when opening a Moniepoint business account. Fortunately, there are simple steps you can take to troubleshoot and resolve any problems you may encounter.

Incorrect Information

One of the most common issues is incorrect information during account setup. This could be a result of typos or missing information errors when filling out the form.

To avoid this issue, double-check all the information you’ve provided for accuracy before submitting your application. Make sure emails and phone numbers are correct, and any required documents are uploaded properly.

Unclear Terms & Conditions

Another issue you may encounter is unclear terms & conditions on the Moniepoint website. Make sure to carefully read through any terms & conditions associated with your new account before signing anything. If there is anything left unclear or something doesn’t look right, don’t hesitate to reach out to their customer service team for clarification or assistance.

With these tips, you should have no trouble troubleshooting any unexpected issues while opening a Moniepoint business account!


Creating a Moniepoint Business Account is a simple process that can quickly provide you with the banking tools you need to run your business. By setting up your account online, you can skip the hassle of going to the bank and can easily transfer funds and make payments online. With Moniepoint’s state-of-the-art security measures and support team, you can trust that your account will be safe and secure. Your customers will also reap the rewards of Moniepoint’s secure banking experience and fast payouts. With a Moniepoint Business Account, you’ll have the financial advantage to help your business succeed.