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Moniepoint Tier 1, Tier 2 and Tier 3 Limits Increase

Here's how to increase and upgrade your Moniepoint Account's tiers transactions limits.
Moniepoint Tiers Account Limit Increase

Moniepoint Account Tiers upgrade is essential to increase your daily transaction limits. That's to say, with your account in Tier 2 or Tier 3, you have a higher change to transfer and move large sum of money in your Moniepoint Account.

Moniepoint offers two account types to customers; Moniepoint Business Account and Moniepoint Personal Account. However, these accounts have different Tiers and transaction limit increase requirements.

In this article, we'll walk you through all Moniepoint Accounts Levels and Tiers, their Limits, and Requirements. It's important to note that higher KYC levels allow you to raise your daily/single credit and debit limits because they provide more information to verify your identity.

Let's explore the various KYC levels, the daily/single credit and debit limits, and how to increase these limits. Moniepoint Personal Account offers different tiers with specific limits: Moniepoint Tier 1, Moniepoint Tier 2, and Moniepoint Tier 3.

More so, by understanding and upgrading through the Moniepoint Business Account levels—Level 1, Level 2, Level 3, Level 4 and Level 5—you can increase your transaction limits to suit your financial needs.

How to increase Moniepoint Accounts Limits

As explained earlier that Moniepoint offers two types of Account, the personal banking account and the business banking account. These accounts have different Tiers and requirements. Let's get started!

Moniepoint Personal Banking Account Tiers Limits Increase

There are three Tiers in the personal account. You can upgrade through these three KYC Tiers by providing the required documentation, each offering distinct transaction limits.

1. Moniepoint Tier 1 Account Limit Increase

The single credit and debit limits for this tier are each N50,000. Additionally, the daily transfer limits are set at N300,000. To upgrade to KYC Level 1, you need to provide specific documentation. These requirements include your NIN or BVN details, face verification, residential address, and attestation.

Moniepoint Tier 1 Limit Increase

To upgrade and increase the account limits, kindly login to your Moniepoint App and navigate to "Profile" to upload those required documents. Once you upload them, wait for at least 24 hours to get feedback about the upgrade from Moniepoint teams via Email.

2. Moniepoint Tier 2 Account Limit Increase

At this Tier, you're limited to send and receive N100,000 at a time, and you cannot transact beyond N500,000 for both sending and receiving per day. To increase your transaction limits to KYC Tier 2 on the Moniepoint App, you will need to provide additional documentation beyond what is required for Tier 1.

Moniepoint Tier 2 Account Limit Increase

In addition to the requirements for Tier 1—your NIN or BVN details, face verification, residential address, and attestation—you must also provide your next of kin details. Once you submit these documents and they are verified, your Moniepoint account will be upgraded to Tier 2, increasing you transaction limits per day.

3. Moniepoint Tier 3 Account Limit Increase

At this final tier for Moniepoint Personal Account, there is an unlimited daily and monthly transactions limit, meaning your account has no credit transaction limit. However, you can only transfer N1,000,000 at a time, and the accumulated daily transfer limit is N25,000,000.

Moniepoint Tier 3 Account Limit Increase

However, to increase your transaction limit, you will need to upgrade to this Tier by providing the following requirements: proof of address verification and indemnity.

Moniepoint Business Banking Account Levels Limits Increase

Moniepoint Business Account levels—Level 1, Level 2, Level 3, Level 4, and Level 5—allow you to increase your transaction limits to suit your financial needs, providing more flexibility to send and receive money from your vendors and customers. The different KYC levels and their transaction limits include:

1. Moniepoint Business Level 1 Account Limit Increase

At this level 1, you can only send and receiveN50,000 at a time, while the accumulated transaction per day for both is N300,000. To increase your transaction limits by upgrading to KYC Level 1, you need to provide specific documentation.

The requirements for upgrading your Moniepoint Business Account include your BVN or NIN details, face verification, residential address, business details, business address, and attestation. Once you submit these documents via Moniepoint Business PortalMoniepoint Business Portal and they are verified, your account will be upgraded to Level 1, allowing for higher transaction limits.

2. Moniepoint Business Level 2 Account Limit Increase

For Moniepoint Business Account Level 2, the single credit and debit limits are each N100,000, with daily accumulated credit and debit limits per day both set at N500,000. To increase your Moniepoint business banking account transaction limits by upgrading to KYC Level 2, additional documentation is required.

In addtion to the requirements for Level 1, you must provide your BVN or NIN details and your next of kin details. Once these documents are submitted and verified, your account will be upgraded to Level 2, allowing for higher transaction limits.

3. Moniepoint Business Level 3 Account Limit Increase

Similar to the personal account, this level 3 offers unlimited daily transaction limits, meaning there are no restrictions on the amount you can credit to your account. However, the single debit limit is set at N5,000,000, and the daily debit limit is N25,000,000.

To upgrade to this level and increase your Moniepoint business banking account transaction limits, you need to provide proof of residential address and an indemnity. Once these documents are submitted and verified, your account will be upgraded, granting you higher transaction limits.

4. Moniepoint Business Level 4 Account Limit Increase

At Level 4, you enjoy an unrestricted single and daily credit limit, providing significant flexibility in managing your finances. Moreover, your single debit limit is N10,000,000, and your daily debit limit remains at N25,000,000. To increase your Moniepoint business banking account to KYC Level 4 and access the expanded transaction capabilities, you'll need to fulfill specific requirements.

This includes providing details about your business registration type, submitting relevant supporting documents, undergoing a business names review, and providing an attestation. Once these prerequisites are met and verified, your account will be upgraded to Level 4, unlocking enhanced transaction limits tailored to your business needs.

5. Moniepoint Business Level 5 Account Limit Increase

At the ultimate level, you benefit from an unrestricted single and daily credit limit, providing unparalleled flexibility in managing your financial transactions. However, there's a single debit limit of N100,000,000 and a daily debit limit of N250,000,000, ensuring robust financial capabilities for your POS Business operations.

To ascend to this pinnacle level and unlock its extensive transaction privileges, you must undergo an internal business registration document review. Once this requirement is fulfilled and the necessary documents are verified, your Moniepoint Business Account will be upgraded to this highest Level, empowering you with unparalleled transaction limits and seamless banking experiences.

The Bottom Line

Moniepoint Accounts Tiers and KYC Levels can significantly enhance your banking experience on the Moniepoint Personal and Business Banking app. Each Levels and Tiers offers progressively higher transaction limits, catering to your growing financial needs. Whether for personal or business use, these upgrades allow for greater flexibility, security, and convenience, enabling you to manage your finances with ease and confidence.

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About the Author

With five years experience in Media, Temmy Samuel's become a modern journalist, delivering impressive reporting about tech, finance, business and science around the world. More About Temmy

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