Introduction
What is Moniepoint withdrawal limit? Moniepoint is a reliable financial service that provides easy services like withdrawing, depositing, and transferring funds. “For added convenience, while using Moniepoint, it’s also important to be aware of the applicable withdrawal limits.” These restrictions differ with the type of transactions carried out, KYC levels of accounts, and the regulations in place. This guide will detail Moniepoint withdrawal limits, in what situations these limits are effective and what can be done, if anything, to go beyond them.
Moniepoint withdrawal limit
What is Moniepoint withdrawal limit?
Moniepoint withdrawal limits are determined by many different factors, among them the kind of transaction you are doing and the KYC level of your account. In order to adhere to the guidelines set by the financial governing body and to ensure a safe banking system, Moniepoint has certain daily limits, and limits per transaction as well.
All accounts have different levels of KYC dependence on the level of user verification. As you gradually share more details during the onboarding process, your withdrawal limits increase; consequently, this opens up greater financial opportunities.
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Understanding the KYC Tiers and the Reason for the Different Withdrawal Limitations
KYC (Know Your Customer) is mandatory procedure by the regulatory agencies to identify users. Moniepoint assures sac code qualification based on Kyc levels. Here is first level of verification KYC ‘s Tier reconstruction;
KYC TIER ONE
Single Credit Limit: 50, 000 Naira
Single Debit Limit: 50, 000 Naira
Daily Credit Limit: 300, 000 Naira
Daily Debit Limit: 300, 000 Naira
Tiers are different levels of KYC where users are verified and entered into the system. Tier 1 verification is needed for users who are only willing to carry out small transactions. Such limits are ideal for day to day transactions but might not be adequate for huge transactions.
KYC Tiers of a Higher Level
Moniepoint users with a higher KYC tier enjoy numerous advantages included increased withdrawal limit. These tiers involves extra paperwork such as official id’s, proof of residence and passport photographs.
For instance:
KYC Tier 2 users may enjoy daily debit and credit limits in the neighbourhood of ₦1,000,000 or beyond.
KYC Tier 3 users, who are mainly businesses or power users, benefit from even greater limits.
Moniepoint withdrawal limit
Moniepoint Cash Withdrawal Limit Policy for POS
Moniepoint POS (Point of Sale) terminals enable users to withdraw cash at retail shops or agents locations at ease. Notwithstanding, there are certain caveats in accordance with the regulatory framework and the Policy of Moniepoint.
How to Increase Your Moniepoint Withdrawal Limit
If your current withdrawal limit is too low for your needs, you can request an upgrade by:
1. Upgrading Your Account Tier
Personal Accounts: Link your BVN and complete full KYC verification.
Business Accounts: Submit business registration documents (CAC certificate, utility bills, and valid ID).
2. Maintaining a Good Transaction History
Moniepoint reviews accounts with consistent high-volume transactions and may automatically increase limits for trusted users.
3. Contacting Moniepoint Support
Reach out to customer support via:
Email: [email protected]
Phone: 01-700-0076
In-App Chat Support
Request a limit increase and provide necessary documents for review.
Tips for Secure Withdrawals on Moniepoint
To avoid fraud and ensure smooth transactions:
Use Strong Passwords & PINs – Never share your Moniepoint login details.
Enable Transaction Notifications – Get alerts for every withdrawal.
Avoid Public Wi-Fi for Transactions – Use secure networks.
Verify Recipient Details Before Transfers – Double-check account numbers.
Report Suspicious Activity Immediately – Contact Moniepoint support if you notice unauthorized transactions.
Limits On ATM Withdrawals For Moniepoint Users
In addition to this, users of Moniepoint can also make withdrawals with the ATM card found in their Moniepoint wallets. The limits are determined by the ATM and the bank that has issued it. Although these limits are higher than those for point-of-sale disbursements, they are still regulated to prevent system overload and potential misuse.
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Frequently Asked Questions (FAQs)
1. What is the maximum amount I can withdraw from Moniepoint daily?
Personal accounts: Up to ₦500,000
Business accounts: Up to ₦10,000,000
POS agents: Up to ₦5,000,000
2. Can I withdraw more than my daily limit?
No, unless you request and get approval for a limit increase.
3. Why is my Moniepoint withdrawal limit low?
New accounts start with lower limits. Verify your identity and maintain good transaction history to qualify for higher limits.
4. How long does it take to increase withdrawal limits?
After submitting required documents, approval takes 24–48 hours.
5. Are there fees for withdrawals?
ATM withdrawals may attract bank charges, but Moniepoint POS withdrawals are usually free or low-cost.
Conclusion
Understanding Moniepoint withdrawal limits helps you manage your finances effectively. Whether you’re an individual, business owner, or POS agent, knowing your limits ensures smooth transactions. If your current limit is too restrictive, follow the steps to upgrade your account and enjoy higher withdrawal capacities.
For further assistance, contact Moniepoint customer support or visit their official website. Stay informed, transact securely, and maximize your financial flexibility with Moniepoint!
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