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Moniepoint Sort Code and Bank Code

Moniepoint Sort Code and Bank Code are essential codes in the banking system. Sort code manages fund transfer and USSD code is used for transactions.
Moniepoint Sort Code and Bank Code

In Nigeria, all Deposit Money Banks (DMBs) have a Nigeria Inter-bank Settlement System (NIBSS) code. This code is widely known as sort code in the country. The NIBSS code or sort code is the for electronic transfer and account validation.

The NIBSS code is the element that act between to banks, making sure money transfers from Bank A is deposited into Bank B.

In other words, sort code is essential for transferring and receiving funds electronically between accounts held in different Nigerian banks.

For example, when you initiate a transfer to another bank account, the recipient's NIBSS code will act as an agent to identify which bank the money is going.

And the special account which the money should be settled is done by your bank entry session system. That's why a session ID is generated for every transactions initiated. In a nutshell, NIBSS (sort) code ensures the smooth routing of funds between banks.

Moniepoint Sort Code

Moniepoint uses a NIBSS code, also known as a sort code, specifically 090405. This code is important for transferring money to Moniepoint accounts from other banks in Nigeria.

Moniepoint doesn't use a traditional sort code but relies on the NIBSS code 090405 instead. This code ensures that transfers from other Nigerian banks to Moniepoint accounts are handled smoothly and accurately.

Moniepoint USSD Banking Code

The Moniepoint Bank Code, accessible via the USSD *5573#, allows users to conduct secure and quick financial transactions. By dialing *5573# from a registered phone number, customers can conveniently manage various banking services offered by Moniepoint, ensuring a straightforward and efficient banking experience.

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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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