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Moniepoint, known for its blue POS terminals, is an all-in-one platform for payments, digital wallets, and banking solutions for entrepreneurs and businesses in Nigeria.
The company is operating under a MFB license issued by the Nigerian's apex bank, and its services include payment acceptance, savings plans, and loans, often supported by promotional campaigns to incentivize user engagement.
In this article, we are going to talk everything you need to know about Moniepoint promo. The Moniepoint Promotions are funds and rewards credited to users for completing tasks. Tasks that can earn promo balance on Moniepoint includes:
- Referral Bonuses: This allows business and personal account holders to earn from inviting others to use Moniepoint platform. This promo is visible under referral menus in the app.
- Agent Incentives: This is a promo bonuses for POS agents that meet transaction targets, such as daily withdrawal goals of N80,000 or processing at least four deposits daily.
- Campaign Rewards: This is a time-limited promotions offering bonuses for new users or specific activities.
These incentives are part of Moniepoint’s marketing strategies. However, it's important to note that agent incentives promo is mainly for business owners and Moniepoint agents, using the company's POS terminal for their business transactions.
Other Moniepoint promos and related activities includes cashback offers, discounts, and savings plans e.g., flexible savings, monielock, or fixed deposit.
How Moniepoint Promo works
In the aspect of referral bonuses, the promo works in the sense that participants earn N4 for each interbank transaction referred customer performed for 12 months. However, it's important for referred customers to sign up using referral link or code.
In the aspect of agent bonuses, the promo works in the sense that when agents meet their daily target on their POS terminals, they earn rewards for it and their levels will be boosted.
These rewards appear in "promo balance" under "Rewards." Meanwhile, commissions might be created directly to agent account balance. You can also track earnings and tasks, such as completed referrals, to understand eligibility under the reward menu.
These rewards can be used to carry out bill payments on Moniepoint. You can also withdraw them to your main balance and transfer to any bank of your choice in Nigeria.
How to withdraw the promo balance on Moniepoint
Promo balance like agent commissions, referral earnings, cashbacks and discounts are withdrawable, bills payable and can be cash out into main balance. Meanwhile, promo like earnings on savings are within the savings plans account such as flexible savings, monielock, or fixed deposit.
So, withdrawing your promo balance depends on type of bonuses you want to withdraw, and where you want to withdraw it from. Regardless, you can simply log in to dashboard, go to ‘Earn money’ > ‘Referrals’ to see the full list of your bonuses and their balance.
You can choose to withdraw them from their or decide to use them for transactions under the reward menu.
Note: Moniepoint imposes limits and fees that may affect promo balance withdrawals, as seen in the following table based on USSD transactions and POS charges:
Moniepoint Transaction Limits and Fees| Transaction | Single Limit | Daily Cumulative Limit | Notes |
|---|---|---|---|
| Transfer | 20,000 | 100,000 | Via USSD (*5573#), free to dial. |
| Airtime | 10,000 | 10,000 | For self and others, via USSD. |
| Data | 10,000 | 10,000 | For self and others, via USSD. |
| POS Withdrawal (Up to) | N20,000 | - | 0.5% fee, above N20,000 incurs N100 flat. |
| POS Transfer | - | - | N20 flat fee per transfer. |
These limits indicate that promo balance earnings and withdrawals, especially the transfer transactions for agents incentives, would be affected by transactions quantity.
Conclusion
Moniepoint promo is a marketing-based initiative where business owners, POS agents, and personal account holders earn rewards and commissions after completing marketing tasks including referring another users to the platform, meeting up with POS transactions daily targets, earning cashbacks on bill payments and more.
To withdraw these promo bonuses balance, you will need to cash them out to your main balance before you can transfer it out to any bank account of your choice. You can also use the promo balance to complete any transaction on the Moniepoint platform.
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