Home Finance How to Close or Deactivate My Moniepoint Account Without Stress

How to Close or Deactivate My Moniepoint Account Without Stress

Closing or deactivating your Moniepoint account shouldn’t be a daunting task. We understand that the process can feel overwhelming, but fret not! We’ve got your back. In this personalized journey, we’ll provide you with simple yet effective steps to smoothly navigate the closure process, ensuring a stress-free experience.

Embracing a seamless transition, we want to ensure that closing or deactivating your Moniepoint account is a human-friendly experience. Our aim is to provide you with clear and concise instructions, empowering you to take control of your financial decisions.

Throughout this process, we’ll share valuable insights and tips, allowing you to tie up loose ends and ensure a smooth departure from Moniepoint. We want to assure you that closing or deactivating your account doesn’t have to be a hassle—it can be a straightforward and empowering choice.

So, as you embark on this journey of account closure, let us be your trusted companion. Together, we’ll navigate the necessary steps, address any concerns you may have, and ensure a stress-free transition away from your Moniepoint account.

Get ready to say goodbye to Moniepoint with confidence, knowing that you have the information and support you need to close or deactivate your account without unnecessary worry or hassle.

What is Moniepoint?

Moniepoint is a prominent financial technology company based in Nigeria that provides a wide range of digital financial services. It has gained significant popularity and recognition for its innovative solutions, particularly in the field of point-of-sale (POS) transactions and mobile banking.

At its core, Moniepoint operates as a robust and user-friendly platform that facilitates secure and convenient financial transactions, allowing individuals and businesses to send, receive, and manage their money digitally. It leverages the power of technology to offer a seamless and inclusive banking experience to its users.

One of Moniepoint’s key offerings is its POS service, which enables businesses to accept card payments from customers. By deploying Moniepoint’s POS devices, merchants can transform their physical stores into cashless payment environments, expanding their customer base and enhancing operational efficiency. The POS devices are compact, user-friendly, and equipped with advanced security features to ensure safe and reliable transactions.

In addition to the POS service, Moniepoint also provides a mobile banking app that empowers individuals to carry out various financial activities conveniently from their smartphones. Through the Moniepoint app, users can perform functions such as account opening, fund transfers, bill payments, airtime top-ups, and more. The app’s intuitive interface and robust security measures make it accessible and reliable for users across different demographics.

Furthermore, Moniepoint offers additional services such as loan facilities to individuals and businesses. Through its loan feature, users can access quick and convenient loans to meet their financial needs, with flexible repayment options tailored to their specific circumstances. This offering provides a lifeline for individuals and businesses who require immediate funds for various purposes.

Moniepoint’s commitment to financial inclusion is evident in its widespread availability and accessibility. The company has established a vast network of agents and partners across Nigeria, enabling users to access its services in remote and underserved areas where traditional banking infrastructure may be limited.

To ensure the security and integrity of its services, Moniepoint adheres to strict regulatory standards and implements robust security protocols. It prioritizes customer data protection and employs encryption and authentication measures to safeguard sensitive information.

How To Close/Deactivate Your Moniepoint Account 

To close your moniepoint account, please follow the below steps 

Review Account Closure Policies

Before proceeding with the account closure process, it’s essential to review Moniepoint’s account closure policies. Knowing these policies will help you understand what to expect during the account deactivation process and whether you are eligible to close your account. Here are some of the essential things to consider when reviewing Moniepoint’s account closure policies:

  1. Account deactivation fees: Moniepoint may charge you a deactivation fee when closing your account. The fee amount varies and is subject to change, so it’s advisable to contact Moniepoint’s customer service to inquire about the current deactivation fee.
  2. Account balance: You can only close your Moniepoint account if you don’t have any balance or transactions in your account. Before proceeding with the account closure process, make sure you withdraw any funds you have in your account or use them to make purchases.
  3. Account verification: Moniepoint may request you to complete your account verification process before deactivating your account. This is done to ensure that your account details are correct, and your account balance is accurate.
  4. Account reactivation: If you wish to reactivate your account after deactivating it, Moniepoint may require you to complete additional verification procedures before reactivating your account.
ALSO READ  How to Make Payment on Aliexpress from Nigeria in 2023

Next, we’ll look at how to assess your account status to determine if you’re eligible to close your Moniepoint account.

Read Also: Palmpay Loan: How to Borrow Money From Palmpay App Easily

Assess Your Account Status

Before closing your Moniepoint account, it’s essential to assess your account status to ensure that everything is in order. Here are some key factors to consider:

  1. Outstanding Transactions: Check to see if there are any outstanding transactions on your account, such as pending transfers or payments. Make sure to complete these transactions before closing your account to avoid any issues.
  2. Pending Balances: Verify that your account balance is zero before closing your Moniepoint account. If there are any pending balances, such as pending deposits or withdrawals, it’s essential to wait for these transactions to complete before closing your account.
  3. Account Verification: If your account is not yet verified, you’ll need to complete the verification process before closing your Moniepoint account. This ensures that you can withdraw any remaining funds in your account.

By assessing your account status before closing your Moniepoint account, you’ll ensure that everything is in order, and you won’t have any issues or surprises down the road.

Contact Moniepoint Support

If you’ve decided to close or deactivate your Moniepoint account, the next step is to get in touch with their support team. Thankfully, this process is straightforward and can be completed in just a few minutes. Here’s how you can contact Moniepoint support:

  1. Visit Moniepoint’s website at www.moniepoint.com and scroll down to the bottom of the page.
  2. Click on the chat icon in the bottom right-hand corner of the page. This will open a chat window where you can speak with a Moniepoint representative.
  3. Follow the prompts to explain your request and let them know that you’d like to close or deactivate your account.
  4. Be prepared to answer any questions they may have about your account or your reason for leaving Moniepoint.
  5. Once they have verified your request, they will guide you through the steps to close or deactivate your account.

It’s important to note that if you have any remaining funds in your Moniepoint account, you will need to withdraw them before your account can be closed. This can be done through the Moniepoint app or by contacting their support team for assistance.

Closing or deactivating your Moniepoint account doesn’t have to be a complicated process. By following these simple steps, you can get in touch with their support team and have your account closed or deactivated in no time.

ALSO READ  Forgot my Piggyvest Password and Pin - How to Reset, Change and Recover Piggyvest Password and Pin

Providing Verification and Documentation

Once you have contacted Moniepoint Support to request account closure, they may require you to provide additional verification and documentation before the closure process can be completed. This is typically done for security purposes, to ensure that only the rightful account holder can close the account.

You may be asked to provide a valid form of identification, such as a government-issued ID card or driver’s license. In some cases, Moniepoint may also request proof of address, such as a recent utility bill or bank statement.

It’s important to provide accurate and up-to-date information when submitting verification and documentation, as any discrepancies or errors may cause delays in the account closure process. Once Moniepoint has verified your information, they will proceed with closing your account and notify you via email or phone.

Remember, it’s crucial to ensure that your account has a zero balance before initiating the account closure process. Any pending transactions or unpaid fees could potentially delay or prevent the closure of your account.


How can I deactivate my Moniepoint account?

  • To deactivate your Moniepoint account, you can follow these steps:
  • Contact Moniepoint customer support: Reach out to Moniepoint’s customer support team through their designated channels, such as phone, email, or in-app chat. Request assistance with deactivating your account.
  • Provide necessary information: Be prepared to provide any required verification or documentation as requested by Moniepoint to confirm your identity and ownership of the account.
  • Follow closure instructions: Moniepoint will provide you with specific instructions on how to deactivate your account. Follow these instructions carefully to ensure a successful closure.

How do I contact Moniepoint customer care?

  • You can contact Moniepoint customer care through the following methods:
  • Phone: Dial the Moniepoint customer care phone number provided on their website or in the app to speak with a representative directly.
  • Email: Send an email to the designated customer care email address provided by Moniepoint, explaining your query or concern.
  • In-app chat: Many financial apps, including Moniepoint, have an in-app chat feature. Look for the customer support or help section within the app and initiate a conversation with a customer care representative.

Where is the headquarters of Moniepoint?

Moniepoint’s headquarters is located in Lagos, Nigeria. As a prominent financial technology company in Nigeria, Moniepoint operates from its headquarters in Lagos, which is a major hub for business and technology in the country.

What is another name for Moniepoint?

Moniepoint is primarily known by its original name. However, it’s worth mentioning that Moniepoint is a brand under the umbrella of TeamApt Limited, a Nigerian fintech company. So, TeamApt Limited can be considered another name associated with Moniepoint.

Which bank owns Moniepoint POS?

Moniepoint POS is not owned by a specific bank. Moniepoint is a standalone financial technology company that provides POS solutions and other digital financial services. While Moniepoint collaborates with various banks and financial institutions to facilitate transactions, it is not owned by any particular bank.


In conclusion, closing or deactivating your Moniepoint account doesn’t have to be a stressful experience. By following the necessary steps and being aware of the account closure policies, you can smoothly navigate the process with confidence. Take the time to review the terms and conditions, understand any fees involved, and ensure that you settle any outstanding balances or loans before closing your account.

Throughout this journey, it’s crucial to maintain open communication with Moniepoint’s customer care team. They are there to assist you and provide guidance every step of the way. Whether you contact them through phone, email, or the in-app chat feature, they will help address any concerns or questions you may have.

Remember that Moniepoint values your security and privacy. They have implemented robust measures to protect your information throughout the account closure process. By following their instructions and providing any necessary verification, you can ensure the closure is handled securely.

Lastly, consider your financial goals and explore alternative options if needed. Research other financial service providers or platforms that may better align with your current needs and objectives. This will help you make an informed decision and smoothly transition to a new financial solution.