[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4},"routes/topics.$topicSlug.$articleSlug",{"_5":6,"_13":14,"_25":26},"topic",{"_7":8,"_9":10,"_11":12},"id",233,"name","Transfers","slug","transfers-233","article",{"_15":16,"_17":18,"_7":19,"_11":20,"_21":22,"_23":24},"content","

For transactions requiring Multi-Factor Authentication:

Personal Banking: MFA is required for transactions above NGN 500,000.
Business Banking: MFA is required for transactions above NGN 5,000,000.

Do not hesitate to contact us if you have any further questions or require additional information.

","createdOn","2026-05-21T10:15:19.000Z",626,"at-what-amounts-do-i-need-to-use-multifactor-authentication-mfa-626","status","ACTIVE","title","At what amounts do I need to use Multi-Factor Authentication (MFA)?","articles",[27,33,39,45,51,57,63,69,75,81,14],{"_15":28,"_17":29,"_7":30,"_11":31,"_21":22,"_23":32},"

This is a case of a fraudulent transfer, it also means that your account has been compromised and you need immediately change your log in details and authorisation pin.

Kindly reach out to our support team providing the receipt of the transaction and details of the correct account you intended to make the transfer to. Our team will reach out to the bank for a possible recall of funds.

Kindly note that the recall of funds is dependent on :

Availability of funds in the beneficiary's account
Consent of the beneficiary
Discretion of the beneficiary and it’s Financial Institution.

Also note that a police report or court order will be needed in this case to validate the claim.

Do not hesitate to contact us if you have any further questions or require additional information.

","2026-02-09T14:30:12.000Z",418,"someone-transferred-money-from-my-moniepoint-wallet-into-another-account-i-am-not-aware-of-please-how-do-i-get-my-money-back-418","Someone transferred money from my Moniepoint wallet into another account I am not aware of, please how do I get my money back.",{"_15":34,"_17":35,"_7":36,"_11":37,"_21":22,"_23":38},"

Kindly provide the beneficiary with the 30-digit session ID on the transaction receipt and advice him/her to contact their bank, providing the session ID, as the bank might be experiencing a delay in crediting the account of the beneficiary.

If this has been done and the beneficiary has yet to receive the value in his/her account after 24 hours, please reach out to our support team for further assistance.

Do not hesitate to contact us if you have any further questions or require additional information.

","2026-02-09T14:35:35.000Z",421,"i-did-a-successful-transfer-but-the-beneficiary-is-yet-to-receive-the-funds-421","I did a successful transfer, but the beneficiary is yet to receive the funds",{"_15":40,"_17":41,"_7":42,"_11":43,"_21":22,"_23":44},"

Kindly note that the recall of funds is dependent on :

Availability of funds in the beneficiary's account
Consent of the beneficiary
Discretion of the beneficiary and it’s Financial Institution.

Do not hesitate to contact us if you have any further questions or require additional information.

","2026-02-09T14:30:56.000Z",419,"i-mistakenly-sent-money-into-the-wrong-account-please-help-me-419","I mistakenly sent money into the wrong account, please help me!",{"_15":46,"_17":47,"_7":48,"_11":49,"_21":22,"_23":50},"

Kindly follow the steps below to add a beneficiary:

Log in to your app
Click Transfer
Enter the recipient’s account number
Select the bank
Toggle on Add to Saved Beneficiaries
Confirm the recipient details
Enter the amount
Click Continue
Review the transaction details and add a narration (optional)
Click Pay
Enter your PIN to complete the transfer.

","2026-02-09T14:39:28.000Z",423,"how-to-add-a-beneficiary-423","How to add a beneficiary",{"_15":52,"_17":53,"_7":54,"_11":55,"_21":22,"_23":56},"

Kindly follow the steps below to delete a beneficiary:

Log in to your app
Click Transfer
Under Select Beneficiary, click Saved
Click Manage
Scroll through the saved beneficiaries or search using the search box
Click the delete icon next to the beneficiary’s name
Select Delete Beneficiary to complete the action

","2026-02-09T14:38:41.000Z",422,"how-to-delete-a-beneficiary-422","How to delete a beneficiary",{"_15":58,"_17":59,"_7":60,"_11":61,"_21":22,"_23":62},"

What is Stamp Duty?

Stamp Duty on electronic transfers is a ₦50 statutory charge applied to transfers of ₦10,000 and above. Under current tax regulations, this levy is paid by the sender and replaces the former Electronic Money Transfer Levy (EMTL).

What transactions attract Stamp Duty?

Stamp Duty is charged on the sender’s account for:

Transfers of ₦10,000 and above
Moniepoint to Moniepoint transfers (intrabank)
Moniepoint to other banks transfers (interbank)

Can the bank waive this charge?

Stamp Duty is a government-mandated levy, and banks are legally required to collect it.

The only exemption applies to transfers between two Moniepoint accounts owned by the same person, provided the BVNs match.

Am I charged an extra ₦50 on every transfer?

No.

The ₦50 Stamp Duty is only applied to each transfer above ₦10,000 made to another recipient.

Is Stamp Duty the same as VAT?

No.

VAT: 7.5% of the transaction fee (For example, it would be 0.75naira for every 10naira charged).

They are two separate charges.

Will I see the Stamp Duty charge?

Yes. The Stamp Duty charge will be clearly displayed in your transaction details and history.

Can I make a transfer if my current account balance does not include the Stamp Duty charge?

Yes, you can.

However, the Stamp Duty charge will be automatically deducted as soon as your balance is sufficient.

","2026-03-24T12:19:40.000Z",507,"stamp-duty-507","Stamp Duty ",{"_15":64,"_17":65,"_7":66,"_11":67,"_21":22,"_23":68},"

MFA (Multi-Factor Authentication) is a security measure mandated by the Central Bank of Nigeria (CBN) to enhance the protection of your transactions.

By requiring an additional verification step beyond just your password, MFA helps ensure a more secure transaction environment, safeguarding your account and personal information during transfer transactions.

This extra layer of security is in place to provide you with peace of mind and prevent unauthorised access to your account.

Do not hesitate to contact us if you have any further questions or require additional information.

","2026-05-21T10:01:21.000Z",622,"what-is-mfa-622","What is MFA?",{"_15":70,"_17":71,"_7":72,"_11":73,"_21":22,"_23":74},"

To set up Multi-Factor Authentication (MFA), log in to your dashboard and go to Settings. Under Security and Privacy, toggle on the biometrics option.

If you have a biometric-enabled device, simply scan your face or fingerprint to complete the setup.

If you don’t have a biometric-enabled device:

Install the Google Authenticator app from the iOS App Store or Google Play Store.
Follow the on-screen instructions to complete the Smile ID verification.
Scan the QR code displayed on the setup page or enter the unique key provided.
Copy the 6-digit code generated by the Google Authenticator app and enter it on your mobile/web settings page.

Click Activate to finalise the setup.

Do not hesitate to contact us if you have any further questions or require additional information.

","2026-05-21T10:02:32.000Z",624,"how-do-i-set-up-multifactor-authentication-mfa-624","How do I set up Multi-Factor Authentication (MFA)?",{"_15":76,"_17":77,"_7":78,"_11":79,"_21":22,"_23":80},"

Currently, Multi-Factor Authentication (MFA) is required exclusively for instant transfers.

","2026-05-21T10:01:54.000Z",623,"what-types-of-transactions-require-multifactor-authentication-mfa-623","What types of transactions require Multi-Factor Authentication (MFA)?",{"_15":82,"_17":83,"_7":84,"_11":85,"_21":22,"_23":86},"

Face Verification might fail for a few reasons:

Poor Lighting Conditions:
Issue: The lighting may not be sufficient for accurate face recognition.
Solution: Move to a well-lit area, ensure your face is clearly visible, and try again.
Internal Enrollment Service Issue:
Issue: There might be a temporary problem with our enrollment service.
Solution: If this happens, please contact our support team and provide your information. We’ll escalate the issue to our Product Team for quick resolution.
Liveness Test Failure:
Issue: There could be an issue with our Face Verification provider (e.g., Smile ID).
Solution: If you encounter this issue, please contact our support team with your details. We’ll escalate it to our Product Team for immediate investigation.

In any of these cases, if you experience difficulties, please reach out to our support team for assistance.

Do not hesitate to contact us if you have any further questions or require additional information.

","2026-05-21T10:03:11.000Z",625,"my-face-verification-keeps-failing-during-mfa-setup-what-should-i-do-625","My Face Verification keeps failing during MFA setup, what should i do?","actionData","errors"]

Transfers

ARTICLES IN THIS SECTION

At what amounts do I need to use Multi-Factor Authentication (MFA)?