Home » Business » How Much Is FirstMonie PoS Machine?

How Much Is FirstMonie PoS Machine?

by NaijNaira
0 comment
how much is firstmonie pos machine

Here Is The Easy Money-Making Trick Everyone Is Talking About! Learn More Here!

Curious about the price of FirstMonie PoS machine? Find out the cost of FirstMonie PoS machine and start accepting card payments at your business. Get all the details you need in this informative post.

If you have been longing to know how to register as Firstmonie Agent then this post will help with Agent Banking.

First Bank helps customers in the unbanked or underbanked segments of society to process financial requests through registered Firstmonie Agents thereby empowering existing businesses that deliver these services within those communities.

A Firstmonie Agent is identified by some Branding features found in his location which include an outdoor painting in FirstBanks’ colours (Blue and Gold); Firstmonie Agent Certificate; Firstmonie Agent Banner; and a Firstmonie Agent Dangler.

Before I show you how to become First bank POS agent, let’s see the kind of job/transactions you will be handling in that kiosk or shop.

See Also: All MTN Shop Addresses In Nigeria

Firstmonie Agent’s Work

Services you will render as a Firstmonie Agent basically include the following:

  1. Open a FirstBank account
  2. Deposit Money
  3. Withdraw money from any Bank
  4. Send money to any Bank
  5. Pay Bills
  6. Buy Airtime
  7. Enrol for BVN

Firstmonie agents are all over Nigeria with over 155,000 Firstmonie Agent locations across 772 out of the 774 local government areas in Nigeria; including the FCT. See a list of Firstmonie Agent Locations.

There are over 1,000,000 unique customers that Firstmonie Agents service daily. By this, First Bank is empowering individuals, and businesses, in fact, through the Firstmonie Agent channel, over 300,000 indirect jobs have been created in the last 4 years.

But how does the Firstmonie Agents service benefit anyone?

Benefits of Firstmonie Agents’ service

For the Customer, Firstmonie Agents help you Save travel and queue time (relative to alternatives such as the Branch and ATM point). They provide quick access to “Human ATMs” which can serve all customer types – banked (customers of any bank) and unbanked.

In the case of an Agent, you gain additional revenue from commissions earned per transaction processed. The business also expands and increases demand for existing services/business offerings.

And for Nigeria as a Nation, it reduces the rate of poverty and unemployment.

How Firstmonie Agents Transaction Works

  1. All transactions processed at the Agent locations are real-time and impact sender/ beneficiary’s account instantly.
  2. Agent account is debited or credited instantly for every transaction processed.
  3. Customers are charged a convenience fee for transactions with the exemption of Airtime Recharge.
  4. Services shall be provided subject to the availability of funds at the Agent location.
  5. If FirstBank systems are down, no transactions can be processed.
  6. Never disclose your PIN to anybody.
  7. When making a withdrawal, a valid identity card is required for identification.
  8. Ensure that you sign the transaction log book to confirm the information recorded about your transaction.
  9. Ensure that you get a transaction receipt for all transactions.
  10. In case of a failed transaction, please contact your bank for resolution.

Firstmonie Agent Transaction Charges/Commission

Deposit (FirstBank account only)

  • 1 – 5,000 (N50 fee)
  • 5,000 – 30,000 (N100 fee)
  • 30,000 – 100,000 (N150 fee)
  • 100,000 (N200 fee)

Transfer to FirstBank account

  • 1 – 30,000 (N100 fee)
  • 30,000 – 100,000 (N150 fee)
  • 100,000 (N200 fee)

Transfer to Other Banks

  • 1 – 20,000 (N100 fee)
  • 20,000 – 100,000 (N200 fee)
  • 100,000 (N250 fee)

Cash Withdrawal

  • 1 – 10,000 (N100 fee)
  • 10,000 – 100,000 (N200 fee)
  • 100,000 (N300 fee)

Meanwhile, Bill Payment cost N100 flat, Airtime Recharge, Account Opening, and BVN Enrolment are all free.

Firstmonie Agent Requirements

To become a Firstmonie Agent you need to have the following items available:

  1. An existing business
  2. A visible and accessible business location
  3. A valid means of identification (Voters’ card, National ID card, Drivers’ License, International Passport)
  4. BVN
  5. Utility bill not more than three (3) months old
  6. Business registration documentation for corporate bodies

Reasons to Become Firstmonie Agent

  1. Quick Registration: Self-registration within minutes
  2. Instant free POS: Get a free POS terminal when you onboard as a Firstmonie Agent
  3. Instant credit/settlement for transactions processed: Easy/stress-free liquidity management
  4. Access to Agent credit: Quick access to working capital support
  5. Insurance cover: Comprehensive insurance for you the Agent and your workers; priced at the cheapest rate
  6. Excellent support structure: Over 750 branches across Nigeria ready to attend to your needs
  7. Member of the largest Agent network: Opportunity to join the largest Agent network in Nigeria

Now that you know how to register as Firstmonie Agent you need to read their Terms and Conditions carefully as you join the First Bank team.

How Much Is FirstMonie PoS Machine?

how much is firstmonie pos machine

The Firstmonie POS Machine is a device provided by FirstBank to its agents for free, once they meet the mandatory target. This portable device allows agents to accept payments from customers using various payment methods, such as debit cards, credit cards, and mobile wallets.

How to Get the Firstmonie POS Machine?

In order to obtain the Firstmonie POS Machine, you need to have an account with FirstBank and be duly onboarded on the Firstmonie platform. Once your Firstmonie bank account is linked to your profile, FirstBank will require you to meet certain transaction targets using the Firstmonie app. If you successfully meet these targets, you will be eligible to receive the Firstmonie POS Machine for free.

Using the Firstmonie POS Machine

Once you have the Firstmonie POS Machine, you can start accepting payments from your customers. The device is user-friendly and equipped with the latest technology to ensure secure and efficient transactions. It supports multiple payment methods, making it convenient for both you and your customers.

Retrieving the Firstmonie POS Machine

If you do not make regular use of the Firstmonie POS Machine, you have the option to return it. However, it is important to note that the device is provided for free, and returning it may affect your eligibility for future benefits or incentives offered by FirstBank.

See Also: Sort Codes Of Banks In Nigeria

Wrap Up on How Much Is FirstMonie PoS Machine?

Now you have found out how much is Firstmonie pos machine. To become a First bank mobile agent or Firstmonie Agent, all you need to do is to approach any First Bank branch near you and follow their instruction.

That’s all on how to register as Firstmonie Agent. But note that the transaction limit for agents using registered Businesses is 1,000,000 while Non-Registered Business is 500,000.

This article was updated 2 days ago


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Copyright © – 2024 CIV DigiTech Media Ltd. All Rights Reserved