FirstMonie POS
Posted in: POS Guides

FirstMonie POS: How to Apply

Applying for and getting the FirstMonie POS machine is pretty easy, especially if you meet the requirements and have the supporting documents handy. 

Although the FirstMonie POS machine is free, applicants are expected to meet certain eligibility criteria before they can access the terminal.

Just like other POS brands in Nigeria, FirstMonie POS machine are used to perform different transactions, like cash withdrawals, fund transfers, bill payments, account opening, BVN enrolment, etc. These transactions can be done with ease once the terminal is activated.

FirstMonie POS terminal is designed to meet the needs of Nigerians who are underbanked or unbanked at all in rural areas or suburbs. 

Related: FirstMonie POS charges

Overview of FirstMonie POS

FirstMonie POS

FirstMonie POS from First Bank is a payment service that is aimed at serving their esteemed customers. The POS machine can be used to perform different transactions, like withdrawals, deposits, transfers, bill payments, cable subscriptions, etc. Apart from these transactions, the POS terminal can also be used to for account opening, BVN enrolment, etc. 

The FirstMonie POS is designed to serve unbanked and underbanked areas in Nigeria. So, this POS terminal is designed to serve Nigerians in rural areas and offer them financial services at no extra cost.

Interestingly, First Bank doesn’t charge any fee for the agents to get the POS machine. So, interested individuals can get the machine at no cost as long as they meet the requirements. If you want to apply for the terminal, all you need to do is meet their requirements and have the supporting documents handy. 

Why FirstMonie POS

As an intending POS agent, you may consider opting for the FirstMonie POS terminal due to the following reasons:

  • The terminal is free if you meet the requirements.
  • It is pretty simple to get the POS machine since it offers self-registration method.
  • First Bank offers insurance to their POS agents.
  • FirstMonie POS agents also get regular support and incentives from First Bank.

FirstMonie POS Requirements

To get the FirstMonie POS machine, applicants are expected to meet certain eligibility criteria. They are: 

  • Applicants must have an active First Bank account with positive account balance
  • Must have a physical shop or an existing POS stand
  • Valid means of identification, like driver’s license, national ID, international passport, etc.
  • Functional Bank Verification Number
  • Applicants must also have at least ₦20,000, which will be start-up capital.

How to Apply for FirstMonie POS Machine

Applying for the FirstMonie POS machine is simple and straightforward. However, before applying, interested applicants are expected to meet the requirements and be ready to provide supporting documents. Once you meet the requirements, you can follow the steps below to apply for the POS terminal:

  • Check in at any First Bank outlet nearest to you and request the POS application form
  • Fill out the POS application form with your correct details. 
  • Submit the form to the First Bank staff with the supporting documents.
  • Wait for the application review 
  • If your application is approved, you will be invited to a training where you will be trained on how to use the POS terminal.
  • Once you complete the training, First Bank will give you the POS terminal with all the necessary details and operational codes. 
  • Finally, they will activate the machine for you at no cost, and you will then use it to receive payments from customers.

How Much is the FirstMonie POS Machine?

Fortunately, the FirstMonie POS machine is free. This means that interested agents can get the POS machine at no cost once they meet the First Bank POS requirements. So, you can get the POS machine without paying a dime. 

Conclusion

It is pretty easy to get the FirstMonie POS machine and the amazing thing is that the POS machine is absolutely free; hence, agents can get it without paying a dime. You can apply for the terminal by visiting any First Bank branch nearest to you. However, ensure that you meet the eligibility criteria and have the supporting documents handy before applying to ensure a seamless application.

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