How to transfer Money from Moniepoint to Bank Account
There are three different methods you can transfer money from your Moniepoint account to any other bank account in Nigeria.
How to transfer Money from Moniepoint to Bank Account
Many people prefer sending money from their Moniepoint Account to their traditional bank account in Nigeria because of the security the traditional bank is providing for larger sums of money. These Banks have more robust security and more CBN and NDIC- capital measures in place compared to mobile money platforms. Deposit Money Banks (DMBs)'s Bank accounts usually offer greater trust and regulations to access some certain features and services compared to Moniepoint accounts. This could include things like business loan, domiciliary account, credit cards, and check writing. These festures cannot be seen on Moniepoint banking services. Hence, account holders would prefer transferring money to their local bank accounts to transferring money to Moniepoint Account due to strong regulatory policies and accountability. However, transferring money from Moniepoint to a bank account allows you to take advantage of these functionalities. Furthermore, Bank accounts can be used for saving or investi…
Founded Mainwave Digital Media, Temmy Samuel is a financial advisor and journalist, blending financial expertise with storytelling skills to simplify complex financial topics for readers and clients alike. Learn More About Temmy Samuel
