Bankly POS charges
Posted in: POS Charges

Bankly POS: Charges and Commission

Perhaps you have been hearing about Bankly POS but don’t know their charges to know whether to get it for your business or not. Well, you have landed in the right place, and we are going to put you through shortly. Keep scrolling.  

As a Bankly POS owner or an intending owner, it is best to know their charges and commissions to enable you to utilize all the features and benefits that the terminal offers. 

Although agents are charged a certain fee when they use the terminal for cash withdrawals or fund transfers, they also earn a certain commission when they use the same terminal for bill payments, cable subscriptions, or airtime top-ups. 

Interestingly, their charges are relatively low and competitive when compared with other popular POS brands in the country. Nevertheless, as a user or an intending POS agent, it is important to know the Bankly POS charges to use it judiciously.

Does Bankly POS charge fees?

Bankly POS Charges

Yes, Bankly charges different fees when you use their POS machine to make cash withdrawals or transfer funds to another financial institution.

Although they charge fees, their fees are competitive and relatively cheap when compared with other popular POS brands in Nigeria. Their fees for cash withdrawals are different from those for fund transfers. Bankly POS charges for fund transfers are among the lowest in the country.  

Bankly POS charge?

Bankly charges different fees when people use it for financial transactions. Their charges can be grouped into withdrawal and transfer charges. For the sake of clarity, we shall be taking the charges one after the other.

Bankly POS Withdrawal Charges

When Bankly POS agents make withdrawals with the terminal, they will be charged different fees depending on the amount they withdraw. The higher the amount withdrawn, the higher the charges. However, there are exceptions to this, because once the amount withdrawn is above ₦20,000, such transactions attract a flat rate.

Bankly charges ₦5 for each ₦1,000 withdrawn with their terminal, up to ₦20,000. However, for amounts that are above ₦20,000, they charge a flat rate of ₦100. So, even if you withdraw ₦300,000 or more with the Bankly POS machine, you will only be charged ₦100.

The Bankly POS withdrawal charges are broken down below: 

₦1,000 – ₦5

₦2,000 – ₦10

₦3,000 – ₦15

₦4,000 – ₦20

₦5,000 – ₦25

₦6,000 – ₦30

₦7,000 – ₦35

₦8,000 – ₦40

₦9,000 – ₦45

₦10,000 – ₦50

₦11,000 – ₦55

₦12,000 – ₦60

₦13,000 – ₦65

₦14,000 – ₦70

₦15,000 – ₦75

₦16,000 – ₦80

₦17,000 – ₦85

₦18,000 – ₦90

₦19,000 – ₦95

₦20,000 – ₦100

₦20,000 and above, they charge a flat rate of ₦100.

Bankly Deposit or Transfer Charges

Whenever you make transfers using the Bankly POS machine, you will be charged a certain fee. For fund transfers between ₦100 and ₦20,000, Bankly charges ₦10 fees. However, for transfers above ₦2,000 to infinity, Bankly charges ₦20.

From our investigation and comparison, we found out that Bankly POS transfer charges are among the lowest in the country. So, their charges are customer-friendly.

Bankly POS Commission

While Bankly charges fees when you use their POS terminal to make withdrawals and transfer funds, they also pay a certain commission to their agents when they use the terminal for cable subscription, airtime and data top-ups, bill payments, etc. 

The commission differs depending on the kind of transaction that the agent performs. The table below shows different transactions and commissions. 

S/NNetworkCommission
1.Glo2.8%
2.MTN1.6%
3.Etisalat2.8%
4. Airtel1.76%
Table 1.1: Bankly POS commission for airtime or data top-ups.

From the table above, we can see that agents earn 2.8% commission when they use the terminal to buy Glo or Etisalat  recharge cards or data for their customers. They also earn 1.76% and 1.6% when they use the terminal for Airtel and MTN cards and data purchases, respectively. 

S/NCableCommission
1.DStv1.2%-1.4%
2. GOtv1.2%-1.4%
Table 1.2: Bankly POS commission for cable subscription

The table above shows that if you use the Bankly POS machine to subscribe to DStv or Gotv for your customer, you will earn a commission that ranges from 1.2% to 1.4%.

S/NDISCOCommission
1.IBEDC0.8%
2.IKEDC1.2%
3.AEDC0.96%
4.EEDC post paid2%
Table 1.3: Bankly POS commission for bill payment

From the table above, we can see that whenever you use the Bankly POS machine to pay a bill, you will earn a certain percentage as an agent. Whenever an agent uses that Bankly POS terminal to pay for IBEDC, AEDC, IKEDC, and EEDC postpaid, such agent earns 0.8%, 0.96%, 1.2%, and 2% commissions, respectively. 

So, as an agent who uses a Bankly POS machine for transactions, you will earn additional commissions while still charging your customers for your service. This terminal is an option to consider, especially for intending POS agents.

Conclusion

Bankly charges a different fee when their agents use the terminal to perform transactions like cash withdrawals or fund transfers. However, their charges are relatively competitive when compared to other brands in the country. As an agent, you will still earn a certain commission when you use the terminal for cable subscriptions, bill payments, airtime, or data top-ups.

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