List of Banks Offering Mobile Money Agency Service and their Requirements

Prev Article Next Article

Before now, banking has always been sweet – no queue, you work and work out in a few minutes after. All workers on the desk ready to assist on customers issue and all that.

Later it becomes a bit stressful as Banking start to gain popularity even with the use of Mobile App.

I guess this is a kind of discouragement to those whom banks are far from. That is why even in this era not all traders or students have an account. Considering the distance, cost of transportation, and meeting queue in the bank, not sure if other daily activities will be meant. The stress!

But Mobile Money Agency service – is a new way again of bringing the people closer, plus making their days more flexible then they can every imagined.

Page Contents

How Mobile Money Agency Makes Their Money

The Mobile Money service allows any accredited agent to operate on behave of the bank and still make cool money for him/her self.

As a Mobile Money Agent, you can cash out to customers, let them do transfer, deposit, pay bills and even open an account. You now have to do the movement for them – which cut huge cost on them, while you make huge money also.

During our NYSC Camping, there was only one lady and a guy approved to come and rend Mobile Money service on the camp. And they charge N100 for every N1,000 withdrawal. They capitalized on the fact that we have no option of going outside the camp. But I guess the lesser now.

Also, check out those on the street far from any ATM location) they charge N50 for every withdrawal, some – N30 for every N1,000, N50 for every N5,000 below, etc.

We shall be talking further on profitable strategies to apply and remain on the winning side – making cool cash on the go.

Why Your Customers Are Ever Ready to Patronize Your Spot

Banking services right at your doorstep.
No queues.
Transactions are PIN protected.
Services are available between Banks. No limitation on that.
Some of the banks are ready to funds anytime even after banking hours (weekends and public holidays).
Save your customers the cost of going to the bank branch or ATM.

General Requirements Needed To Start Mobile Money Agency Business

You need a registered business with CAC
Documents for your registered business
minimum capital to get started as a Mobile Money Agent
Valid identification – Voter’s card, Driver’s License, International Passport, National ID card
A visible business location which is easily accessible
Utility bill

List of Banks Offering The Mobile Money Agency Services

Virtually all the commercial banks offer the Mobile Money Agency service – inviting interested applicants to come to apply for the business opportunity.

However, they have their various requirements, especially start-up capita and charge rates. And this page has discus all that.

Simply click the “NEXT” button to start reading about the list of Banks Offering Mobile Money Agency Service and their Requirements that we have reviewed.