List of Banks Offering Mobile Money Agency Service and their Requirements

First Bank Mobile Money Agent

FirstBank mobile money agent is one of the most use and popular money agent platform by many, maybe its because their expression on their mobile money Agency was clear enough for anyone to understand. This is what I meant; FirstBank Nigeria made this opportunity available and accessible to both registered business owners and non-business registered too.

And, the initial start-up capital is quite affordable but that of Ecobank is far affordable than it.

Each category of applicants has their types of requirements and documents to present before being accepted as a credible Firstmonie Agent.

That reminds me, Firstbank of Nigeria calls it’s platform “Firstmonie Agent”

Documentation Requirements for Individual/non-registered business and registered business

Both categories can apply and get approval to operate as a Firstmonie agent. Below are documents to present.

Individual/non-registered Business:

  • Valid means of identification (Driver’s license, National ID card, International passport or Voter’s card)
  • BVN for proper identification
  • You need a current account with 2 current account references
  • Credit Bureau Report – they want to make sure that you are not a non-performing borrower

Registered Business:

  • Valid means of identification (Driver’s license, National ID card, International passport or Voter’s card)
  • BVN for proper identification
  • You need a current account with 2 current account references
  • Credit Bureau Report – they want to make sure that you are not a non-performing borrower
  • Evidence of Business Registration (CAC business certificate)
  • Tax Identification Number (TIN)

General Requirements to Becoming An Agent

  • Prospective Agent must have been engaged in commercial activities for a minimum of 12 months.
  • Prospective Agent must have a shop (a permanent structure – either rented or owned) from which he operates from.
  • Prospective Agent must be willing to render financial services as defined by the bank.
  • Willingness to commit a minimum working capital of:
    – N50,000 for a non-registered business and
    – N250,000 for a registered business.

Available Services at a Firstmonie Agent location

  • Open a FirstBank account
  • Deposit Money
  • Withdraw money from any Bank
  • Send money to any Bank
  • Pay Bills
  • Buy Airtime
  • Enroll for BVN

Firstbank Nigeria Mobile Money Transaction Rate

Deposit (FirstBank account only)
Transaction Amount Band: Fee paid by Customer:
1 – 5,000N50
>5,000 – 30,000N100
>30,000 – 100,000N150
>100,000N200
Transfer to FirstBank account
Transaction Amount Band: Fee paid by Customer:
1 – 30,000N100
>30,000 – 100,000N150
>100,000N200
Transfer to Other Banks
Transaction Amount Band: Fee paid by Customer:
1 – 20,000N100
>20,000 – 100,000N200
>100,000N250
Cash Withdrawal
Transaction Amount Band: Fee paid by Customer:
1 – 10,000N100
>10,000 – 100,000N200
>100,000N300
  • Bill Payment – N100 flat
  • Airtime Recharge – free
  • Account Opening – free
  • BVN Enrolment – free

How to Apply for Firstmonie Agent

Walk into any FirstBank branch and ask for their Firstmonie agent forms. Complete it and you’re good to start.

Check out other Banks mobile money agent review by clicking the “NEXT” button.

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