mintyn bank review

Mintyn Bank Review: Free Digital Bank Legit and Safe?

This post gives you a complete review of Mintyn Bank which is one of the digital banks in Nigeria.

Mintyn (Mint) bank is a legit, safe and secure digital bank, licensed by CBN. Easy to use mobile and internet banking, free personal and business account, free ATM debit card, unlimited free transfer, quick loan etc. Deposits are safe with Mintyn and withdrawals are fast.

Therefore, this post helps you understand Mintyn’s products and services and why it is a financial platform you can trust.

So let’s start.

What is Mintyn Bank All About

Mintyn is an online bank that offers services such as personal and business accounts, savings plans, investments, CAC business registration, TIN application and a marketplace of groceries at great prices.

Founded in 2020, Mintyn is a digital bank owned by Finex Microfinance Bank.

This financial institution uses technology to offer free and better online banking experience to Nigerians thereby improving individuals’ finances.

The benefits of a digital bank like Mintyn, unlike a physical bank, are numerous.

For example, you get high interest on savings and investments, zero bank transfer charges, and free ATM cards.

All thanks to low overhead costs.

Mintyn Products and Services

  • Personal Account
  • Business Account: Sole Proprietorship, Enterprises, Incorporated Trustees
  • Investment
  • Card: Debit Card, Virtual Card and Cardless Withdrawal
  • Marketplace
  • Business Registration
  • TIN Application

How does Mintyn Bank Work

Mintyn works as an online bank. So, it operates mobile and internet banking only. Through these platforms, you enjoy Mintyn banking services such as personal and business account, free transfer, investment and so on

The first step is to create an account by downloading the mobile app on Playstore or App Store.

Then, verify it with your BVN.

Afterwards, start to enjoy all the services the Mintyn digital Bank app offers.

Is Mintyn Bank Legit and Safe?

Mintyn Bank is legit as it is licensed and approved by the Central Bank of Nigeria (CBN). Mintyn Financial Technolgy services limited is owned by Finex Microfinance Bank, and has the CBN approval to offer banking and financial services to Nigerians.

Mintyn bank is safe as customers’ deposits are insured by NDIC. So, no need to panic. In addition, the Mintyn bank app put in place some security measures to safeguard you.

Firstly, is a strong password and fingerprint. These prevent free access to your Mintyn bank app.

Secondly, is the transaction PIN. Nobody will be able to complete a transaction on the app without it.

Thirdly, is two-factor authentication (2FA). If you or someone else login to your account on another device, a code will be sent to your phone number to confirm the login.

In short, the review of the Mintyn bank app shows it is safe. However, secure your login details.

How to open Mintyn Bank Account online and get Sign-up Bonus

Below are the required steps to sign up for an account on Mintyn bank and also get a sign up bonus:

  1. Download the Mintyn App. Go to Playstore or App Store. Then, tap Create Account
  2. Choose How to Open a Mintyn Account: Bank account or BVN
  3. Verify your Phone Number
  4. Choose the Account Type
  5. Enter Your Personal Details
  6. Enter Mintyn Referral Code 993874
  7. Take a Selfie to Confirm your Identity
  8. Create a Strong Password
  9. Upolad ID Verification

To get your Mintyn sign-up bonus, you need to create a savings or investment monthly plan.

To understand it better, you can check this Mintyn Referral Bonus post

Mintyn Personal Banking

Mintyn digital bank offers a free current account for individuals with a lot of benefits. Such as zero monthly charges, unlimited free bank transfers, free debit cards and up to 18% interest rate on savings and investment.

Mintyn personal account

To open Mintyn bank personal account takes a few minutes and after, you enjoy all the features of this account.

The following are the benefits of Mintyn personal account

  • Unlimited free bank transfers
  • Free ATM debit card
  • Up to 18% interest rate on Savings and investments
  • Instant transaction alert
  • Payment link feature
  • Save when you Spend feature
  • 24/7 customer care support
  • Zero minimum balance

Mintyn Business Banking

Also, Mintyn online bank offers a free business account for business organizations such as SMEs, MSMEs and big corporations and manages all their financial transactions for free.

mintyn business account

Part of the benefits of opening a business account with Mintyn bank is in the area of business registration and TIN application.

Mintyn bank can help you open your business with CAC quickly and also get your Tax Identification Number stress-free.

Below are some of the benefits of a Mintyn business account:

  • Free bulk bank transfers
  • Instant transaction alert
  • 24/7 customer care support
  • Zero minimum balance
  • Zero maintenance charges
  • Quick CAC Business Registration
  • Quick TIN Application

Mintyn Bank Investment Review

Mintyn bank offers an investment opportunity for individuals to earn up to 18% ROI by investing their money in mutual funds. With as little as ₦5,000, you can invest on the Mintyn bank app for a minimum of 1 month.

The more investment duration you choose the higher your interest rate will be.

For instance, the ROI for 1-3 months is 9% while 4-6 months is 10%

mintyn bank investment interest ROI rate

Follow these steps to start investing with Mintyn bank:

  1. Open your Mintyn bank app
  2. Go to the investment section.
  3. Then tap New Investment
  4. Choose an investment period category
  5. Fill out the form: the amount to invest, duration, referral code
  6. Lastly, enter your Transaction PIN to confirm your investment.

Business Registration on Mintyn Bank App

Mintyn bank provides a fast and affordable business registration with Corporate Affairs Commission (CAC) within 12-15 days working days. Starting from ₦22,000, you can register any type of business through Mintyn bank faster without stress.

Below is the Mintyn bank type of business registration and price:

Type of CAC Business Registration Price
Sole Proprietorship₦22,000
Incorporated Trustee₦100,000
Mintyn bank business registration price

Maybe you don’t know where your business falls into? Below is a short definition of each business type:

  • Sole Proprietorship: One-man business
  • Enterprise: A private or public company limited by shares.
  • Incorporated Trustee: Non-Profit organization.

To register your business on Mintyn bank, follow these steps:

  • Open the Mintyn bank app
  • Tap Register your Business.
  • Fill in the details and make the payment.

The bank will reach out to you to start the application process.

Mintyn Bank Marketplace Review

Mintyn marketplace is a platform within the app where one can buy various household items at cheap prices.

Essentially, the marketplace is an online supermarket like Jumia where you can buy major food and household items and have them delivered to your address.

mintyn marketplace

To use the Mintyn marketplace, you can either do personal shopping or go for group shopping.

With group shopping, you create a shopping group and invite your friends, family or colleagues.

After that, you split the bill and each person pays his/her own bill.

Note: They must be a Mintyn user or have to sign up.

Mintyn marketplace favours group shopping because the household products are on sale in bulk and not per piece.

For instance, you cannot buy one pasta. It has to be the whole 20 pieces in a carton.

TIN Application on Mintyn Bank App

As a business owner, it is compulsory to have a Tax Identification Number (TIN).

But if you don’t have it, Mintyn Bank can help you get the TIN quickly.

Mintyn Bank TIN application is a convenient way of getting your TIN for business at the rate of ₦1000.

Below are the requirements needed to apply for your TIN on the Mintyn bank app:

  • State of Registered Business
  • Date of Business Commencement
  • Business Type
  • Utility Bill

Mintyn Bank Debit Card

Mintyn bank also offers a Naira Debit MasterCard for customers for free which can be used at ATM points, POS and online.

Just like the regular physical debit card you know, you can use Mintyn bank MasterCard anywhere Naira card is accepted whether online or at a physical location.

mintyn bank ATM debit card

How to apply for Mintyn Bank Debit Card

Below are the required steps to apply for your Mintyn bank ATM debit card for free:

  1. Open your Mintyn bank app
  2. Tap on Cards
  3. Tap on Request Physical Card
  4. Fill out the form and complete it

Presently, Mintyn bank physical card can only be delivered to these states in Nigeria: Lagos, Ogun and Oyo.

However, you can still apply for a Mintyn card though you are not in these states.

All you need is to have a trusted friend or family who can receive the card on your behalf.

How to Activate for Mintyn Bank Debit Card

Below are the steps needed to activate your Mintyn bank ATM debit card after collecting it:

  1. Open your Mintyn bank app
  2. Go to Cards
  3. Tap on the debit card to display your PIN
  4. Go to Zenith or UBA bank to change your PIN

Mintyn Virtual Dollar Card

Mintyn virtual dollar card gives the freedom to make international payments easily without experiencing the restriction CBN put on a Naira debit card in Nigeria

The benefit of the Mintyn virtual dollar card is you can use it to pay for products and services such as:

  • WES Evaluation
  • Visa Application
  • Amazon
  • Netflix
  • Apple Music
  • Hosting companies etc.
mintyn bank virtual dollar card

Get a Mintyn virtual dollar card if you cannot use a Naira debit card for payments abroad due to CBN restrictions and find it hard to get a dollar card from a physical bank.

One of the benefits of a virtual dollar card is it is very easy to get.

Within a few minutes, you can activate and fund your Virtual Dollar card and be ready to use it anywhere online.

How to apply for Mintyn Bank Virtual Dollar Card

  • Open your Mintyn bank app
  • Then, tap on Cards
  • Tap on Create Virtual Card
  • Lastly, fill out the form and pay the fee.

Note, MIntyn bank charges a creation fee of $1.5 to get the Virtual Dollar Card which is cheaper than most platforms and banks that offer similar a card.

Mintyn Cardless Withdrawal

Cardless withdrawal is the ability to withdraw your money without using a debit card. Fortunately, Mintyn bank provides this cardless service for its customers to withdraw money from POS or ATM by entering a unique code instead of using a physical card.

Below are the required steps to use Mintyn Cardless Withdrawal:

  1. Open the Mintyn bank app
  2. Go to Cardless
  3. Choose ATM or POS service
  4. Fill out the form
  5. A code will be generated to withdraw cash at ATM or POS point

Mintyn Fees

Below are the fees you may encounter using the Mintyn bank services

Transaction TypeFee
ATM withdrawals more than 3 times₦35
Statement of account for Visa application ₦500
Virtual dollar card$1.5
Mintyn bank Fees and charges review

Mintyn Bank Personal Account limit

Personal Account LimitAmount
Transaction limit to Mintyn Bank₦1,000,000
Daily limit to Mintyn Bank₦5,000,000
Transaction limit to Other Banks₦1,000,000
Daily limit to Other Banks₦5,000,000
Mintyn Bank Account limit Review

Mintyn Bank Deposit option

Below are the ways to deposit funds into your Mintyn account:

  • Bank Transfer
  • Debit Card
  • Bank USSD code
  • Quickteller

Mintyn Bank USSD Code

Add this Mintyn USSD code *000*733+ to transfer money from other banks to your Mintyn bank account. For example, from GTB to Mintyn, dial *737*000*733+AccountNumber+Amount#

The following are some of the Mintyn bank USSD codes from other Banks:

  • Access Bank USSD code to Mintyn Bank: *901*000*733+AccountNumber+Amount#
  • Fidelity Bank USSD code to Mintyn Bank: *770*000*733+AccountNumber+Amount#
  • GT Bank USSD code to Mintyn Bank: *737*000*733+AccountNumber+Amount#
  • Wema Bank USSD code to Mintyn Bank: *945*000*733+AccountNumber+Amount#
  • Zenith Bank USSD code to Mintyn Bank: *966*000*733+AccountNumber+Amount#

Note it is ‘+’ after 733 and not ‘*’

Read: Pocket (Abeg) by Piggyvest: A Social Commerce and Payment App

MIntyn Bank Alternatives Review

Below are some of the best alternatives to Mintyn bank. However, it is important to point out that Mintyn bank shines in business registration and management.

1. Branch App

Branch app

The Branch app is a fintech app that offers financial services such as loans, free bank transfers, investments and payments of bills, airtime and data to its millions of users.

Branch app is the best alternative to Mintyn bank in free bank transfers and investment. In fact, you get 20% ROI on investment with the Branch app which is higher than Mintyn bank.

Branch also gives up to ₦5000 bonus when you put your money in fixed investment.

However, the free transfer is on the Branch app limited to ₦100,000 per transaction while Mintyn bank is ₦1,00,000.

Also, since the Branch app is not a bank, it does not give a debit card like Mintyn bank.

When you sign up on the Branch app, you can get over 5000 Naira in sign-up bonus and rewards. Click here to find out.

Further Reading:

2. Kuda Bank

Kuda bank

Kuda microfinance is a digital bank that offers personal and business banking solutions to individuals in Nigeria at a reduced cost or free.

The Kuda bank is a top digital bank in Nigeria and no doubt, a Mintyn bank alternative.

Like Mintyn, Kuda offers a personal account, business account, savings, free ATM card, loans and free bank transfer.

However, Kuda free bank transfer is limited to a certain number per month whereas, it is free on Mintyn bank.

Further Reading:

3. VFD Bank

VFD bank is another alternative online bank to Mintyn bank. With VFD you can save, transfer money for free and get loans.

Also, most transactions on VFD are free except for cardless withdrawal and bill payments. Whereas, these are free on the Mintyn bank app.

Final Thoughts on Mintyn Bank Review

Mintyn is a trusted digital bank by many Nigerians and a safe platform for mobile and online banking. Free transfers, free ATM debit cards, competitive interests, quick business registration, and security are reasons why Mintyn is one of the best digital banks in Nigeria.

Personally, I love this bank because of the free bank transfer and business account.

Of course, like other online banks or fintech apps, Mintyn is not perfect.

To balance this, consider Branch app, Barter, Reaprite, Kuda bank and Vfd Bank.

Therefore, try Mintyn bank and let me know your experience.

Lastly, leave a comment or question below and I will respond ASAP.

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