Moniepoint Sort Code is 090405 and Bank Code is *5573#. Learn more!
Moniepoint Sort Code and Bank Code
Moniepoint is a Microfinance Bank (MFB) in Nigeria that's also performing a function of Deposit Money Banks (DMBs). Hence, the fintech must have a NIBSS code - popularly known as "Sort Code". The Nigeria Inter-Bank Settlement System (NIBSS) code is a crucial element in the Nigerian banking sector, primarily used for electronic transfers and account validation. It facilitates the seamless transfer of funds between different banks in Nigeria by ensuring accurate routing of transactions. When initiating a transfer, one must provide the recipient's NIBSS code along with their account number to guarantee that the funds reach the correct destination. Additionally, some Nigerian banks use the NIBSS code for account verification processes during online or mobile banking transactions. The system checks the NIBSS code to confirm the existence and validity of the beneficiary's account before completing the transfer. This verification step helps to ensure that the recipient…
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