Using the Moniepoint bank app to send money to family, friends, or business partners is something many people do every day. However, learning smart ways to transfer money on the app can make your transactions faster, easier and better.

In this guide, I will show you how to transfer money on the Moniepoint app using simple and clear steps.

In this post, you will learn:

• About the Moniepoint app
• Step-by-step instructions to transfer money successfully
• Tips to Send Money on Moniepoint App 10x better
• And lots more

What is the Moniepoint App?

The Moniepoint app, owned by Moniepoint Microfinance Bank, is a mobile banking application that allows users to perform various financial transactions directly from their smartphones.

Moniepoint is a digital bank. With the app, you can send money, receive payments, pay bills, and manage your finances without need to visit a physical bank. The Moniepoint USSD code is another way to bank.

There are two types of Moniepoint bank apps:

• Moniepoint Personal App: Designed for individuals who want to manage their personal finances. You can use it to send money, buy airtime, pay bills, and receive transfers.
• Moniepoint Business App: Created for business owners and agents. It allows them to accept customer payments, manage business transactions, and perform other financial services.

Requirements to Transfer Money on the Moniepoint App

To send money on the Moniepoint app successfully, here are 5 things you need during the process.

1. A Moniepoint Account:
   You must have an active account on the Moniepoint app. If you have not created an account yet, you will need to register and complete the verification process.
2. Active Internet Connection:
   The Moniepoint app works with an internet connection. Make sure your mobile data or Wi-Fi is active before you start the transfer.
3. Sufficient Account Balance:
   Your account must have enough money to cover the amount you want to send and optionally, the charges.
   Example: Inter-bank transfers and above 10,000 Naira attracts charges but transfers less than 10k between Monipiont does not.
4. Correct Recipient Account Details:
   You need the correct account number and bank name of the person you want to send money to. Double-check these details before confirming the transfer.
5. Transaction PIN:
   Your 4-digit transaction PIN is required to authorise transfers. You must have created one during account opening.
   But if forgetten, reset your PIN before initial a transfer.

Once you have these requirements ready, transfer money using the Moniepoint app in just a few steps.

Steps to Transfer Money on Moniepoint App to Another Bank Account

Here’s a clear step-by-step guide on how to send money to another Moniepoint account and other banks in Nigeria successfully:

Step 1: Login to Moniepoint App

• Launch the Moniepoint Personal or Business app on your phone.
• Enter your PIN, password, or use biometric login to access your dashboard.

Step 2: Tap on the Transfer Section

• On your dashboard, find and tap the “Transfer” option.
• This will take you to the transfer page where you can enter recipient details.

Step 3: Enter the Recipient Account Details

• Type in the recipient’s account number.
• Select the recipient’s bank from the list provided.
• The account name will appear on the screen. Confirm that it matches the person you want to send money to.

Step 4: Enter the Transfer Amount

• Input the exact amount you want to send.
• Double-check the amount to avoid mistakes.

Step 5: Review the Transfer Details

• Carefully confirm the following details:
  • Account name
  • Account number
  • Bank name
  • Amount
• You can also add a narration if needed.

Step 6: Authorize and Send the Money

• Tap “Pay” to proceed.
• Enter your 4-digit transaction PIN to authorize the transfer.
• Once your PIN is correct, the money will be sent successfully, and you will receive a confirmation notification.

Tips to Send Money on Moniepoint App Faster and Better

Here I will show you smart ways to transfer cash from your Moniepoint account. These tips help you enjoy faster, better, and safer transactions on the app.

1. Check the Recipient Bank Network Before Sending Money

Some Nigerian banks experience temporary transfer delays. Moniepoint shows the current bank transfer success rate, which helps you know if the recipient bank is having issues before you proceed.

This help to:

• Reduce failed or pending transfers
• Avoid bank transfer network delays

Here is how to check it:

1. Open the Moniepoint account app.
2. Under Services, click on ‘Network’
3. Select the bank success rate you want to monitor

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2. Send Money to a Moniepoint Account to Avoid Inter-Bank Transfer Charges

Transfers between Moniepoint users help reduce or avoid inter-bank transfer fees.

Why it helps:

• Saves money on transfer charges
• Faster transfer processing in many cases

Here is what to do:

1. Ask the recipient if they have a Moniepoint account.
2. Enter their Moniepoint account details.
3. Confirm the account name and complete the transfer.

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3. Save Account Details as a Beneficiary

If you frequently send money to the same person, save their details as a beneficiary.

Why it helps:

• Saves time during future transfers
• Reduces typing mistakes

Action Steps:

1. During the transfer.
2. Toggle the Add Beneficiary option below.
3. Next time, select the saved beneficiary instead of entering details again.

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4. Enable Biometrics for Extra Security

Biometric authentication uses your fingerprint or face recognition for secure access.

Why it helps:

• Adds extra security to your account
• Helps prevent someone from seeing or guessing your PIN

Action Steps:

1. Open the Moniepoint app.
2. Go to Settings.
3. Under Security& Privacy section, toggle on Biometrics for transactions.

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5. Disable SMS Alerts for Transfers to Reduce Charges

SMS notifications come with small charges over time. If

Why it helps:

• Reduces extra SMS costs
• You can still receive notifications inside the app

Action Steps:

1. Open the Moniepoint app.
2. Go to Settings.
3. Select Notifications Preferences.
4. Then, Disable SMS alerts if app notifications are enough for you.

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6. Send Money in Smaller Batches to Reduce Stamp Duty Charges

In Nigeria, bank transfer from 10,000 Naira attracts additional charges (₦50) called stamp duty. However, you can waive it if not sending up to ₦20,000 with this simple trick.

For instance:
Instead of sending ₦19,000 once, you can send:

• ₦9,500
• ₦9,500

Why it helps:

• May help reduce additional transfer charges in some cases

Action Steps:

1. Divide the total amount into smaller amounts where appropriate.
2. Send each amount separately.
3. Confirm the total amount sent matches the intended payment.

Important: Before using this method, check the current fee structure in the Moniepoint app because banking charges and policies can change.

How to Confirm if Your Moniepoint Transfer Was Successful

After sending money on the Moniepoint app, it’s important to confirm that your transfer went through. Here are the ways to check:

1. Transaction Success Notification

• Once the transfer is completed, the app will show a success message confirming the transaction.

2. Debit Alert

• When you check your Moniepoint account balance on the app, it will show that the money has been debited.
• Also, if you did not disable SMS alert on your Moniepoint account, you will receive a message on your phone, showing that the money has left your account.

3. Transaction History

• Open the Transaction History section in the Moniepoint app.
• Look for the recent transfer and confirm the transaction status has changed from pending to successful.

By using these methods, you can be sure that your money has reached the recipient safely.

Alternatives to Sending Money on the Moniepoint App

While the Moniepoint app is convenient, there are other ways to send money if you cannot use the app. Here are some alternatives:

1. Moniepoint POS Agent Transfer

• You can visit a Moniepoint agent and make a transfer directly through their POS device. Note: you will pay transfer charges

2. Bank Mobile Apps

• Most banks in Nigeria have their own mobile apps that allow you to transfer money to other banks.

3. USSD Banking

• Use Moniepoint USSD code or another bank’s USSD code to send money without needing an internet connection.

4. Internet Banking

• Log in to your bank’s online banking portal via a computer to make transfers.

FAQs About Transferring Money on Moniepoint

Here are six common questions and answers users have about sending money on the Moniepoint bank app to help you avoid confusion.

1. How long does a Moniepoint transfer take?
   Most transfers through Moniepoint are instant, but delays can happen due to bank network issues. Always check your transaction history if the transfer doesn’t appear immediately.
2. Can I transfer money from Moniepoint to any bank?
   Yes. You can send money from Moniepoint to most Nigerian banks with ease.
3. What should I do if my Moniepoint transfer fails but my account is debited?
   All banks in Nigeria including Moniepoint reverse failed transfers within 24 hours. If the money isn’t reversed within this time, contact Moniepoint customer support for assistance.
4. Is there a transfer limit on the Moniepoint app?
   Yes. Your transfer limit depends on your account level: Level 1,2, or 3. You can upgrade your Moniepoint account level easily on the app to send and receive large sum of money.
5. Why is my Moniepoint transfer pending?
   Pending transfers usually occur due to bank network delays or system maintenance. Wait a few minutes and check again.
6. Why is my Moniepoint app not working to send money?
   • If App freezes or crashes during transfer? Close the app completely and restart your phone. Also, update the app.
   • Incorrect transaction PIN? Carefully enter your correct transaction PIN. If forgotten, reset your Moniepoint PIN on the app.
   • Network failure? Check your mobile data or Wi-Fi and ensure it is stable before trying again. Off and On it before initiating the transfer again.

Summary

Moniepoint makes transferring money fast, easy, and secure. Whether for personal use or business, knowing how to send money on the app saves time and avoids the hassle of visiting a bank.

Key Points to Remember:

1. How to Transfer Money: Open the Moniepoint app, tap Transfer, enter recipient details, amount, review, and authorize with your PIN.
2. Confirm Transfers: Check transaction notifications, debit alerts, or your transaction history to ensure success.
3. Requirements: You need a registered account, internet connection, sufficient balance, correct recipient details, and your transaction PIN.
4. Common Problems: Network issues, wrong PIN, bank delays, app freezing, or insufficient funds can occur; follow the suggested fixes.
5. Security Tips: Keep your PIN private, verify recipient details, enable biometric authentication.
6. Alternatives: You can also use Moniepoint POS agents, bank apps, USSD banking, or internet banking if needed.

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