Hello, Today we’ll be discussing On How to upgrade your Moniepoint account easily.
Moniepoint is a leading digital bank in Nigeria that provides convenient and affordable banking services to individuals and businesses. Upgrading your basic Moniepoint account unlocks higher limits, better rates and exclusive privileges. This comprehensive guide shows how to seamlessly upgrade your account online.
Moniepoint is a fintech company that launched banking operations in Nigeria in 2021 after obtaining a mobile money operator license from the Central Bank of Nigeria. Within a short span, Moniepoint has gained immense popularity by offering user-friendly digital banking services.
Some key features of Moniepoint include:
- Free account opening with no paperwork
- Zero fees on all transactions and transfers
- High interest rates up to 10% on savings
- Easy mobile top-ups and utility payments
- Quick intra and inter-bank transfers
Moniepoint offers upgraded account tiers like Moniepoint Premium and Moniepoint Black that provide customers with higher transaction limits, special offers and personalized services.
Benefits of Upgrading Moniepoint Account
Here are some major benefits of upgrading your basic Moniepoint account to a premium tier:
- Higher transaction limits – Increased daily caps on transfers, withdrawals and payments.
- Better savings rates – Higher interest paid on your savings account balance.
- Exclusive offers – Access to special deals, discounts and promos.
- VIP support – Dedicated customer service with priority resolution.
- Premium debit cards – Receive complimentary premium debit cards.
With an upgraded account, you can truly unlock the full potential of digital banking with added convenience and flexibility.
How to Upgrade Your Moniepoint Account
Follow these simple steps to upgrade your Moniepoint account digitally:
- Login to your Moniepoint account on the mobile app or website.
- Go to Settings and select the “Upgrade Account” option.
- Choose Plan – Pick Moniepoint Premium or Black based on your needs.
- Enter Details – Provide any additional personal information required.
- Make Payment – Pay the applicable upgrade fee from your Moniepoint wallet.
- Get Confirmation – You will receive an approval notification on successful upgrade.
The entire process is 100% digital and can be completed within minutes on your Moniepoint app or website.
Documents Required for Moniepoint Upgrade
To upgrade your Moniepoint account, you need to provide the following documents:
- Profile picture – A clear and recent selfie photo
- Valid ID – National ID, driver’s license, international passport etc.
- Proof of address – Recent utility bill, tenancy agreement etc.
Have digital copies of these documents ready, as they help verify your identity and address for the upgrade process.
How Much Does Moniepoint Account Upgrade Cost?
The upgrade fees for Moniepoint account tiers are as follows:
- Moniepoint Premium – ₦2,000 one-time upgrade fee
- Moniepoint Black – ₦5,000 one-time upgrade fee
The fees are paid instantly from your Moniepoint wallet once you initiate the upgrade process. Given the privileges unlocked, the costs are quite affordable.
Can I Downgrade My Moniepoint Account?
Yes, Moniepoint also allows you to easily downgrade between account tiers:
- Login and go to the Settings menu
- Select “Downgrade Account” option
- Confirm downgrade to lower tier
Your account will be instantly downgraded, though some premium benefits will be lost. The process is straightforward on the app.
Why Upgrade Your Moniepoint Account?
Upgrading your Moniepoint account from the basic tier to Premium or Black tier offers several compelling benefits that can enhance your digital banking experience. Here are some key reasons why you should consider upgrading:
- Higher Transaction Limits: With an upgraded account, you’ll enjoy significantly higher daily limits for transactions such as transfers, withdrawals, and payments. This added flexibility means you can carry out larger transactions without any hassle.
- Better Interest Rates on Savings: Moniepoint rewards its premium account holders with higher interest rates on their savings balances. By upgrading, you can earn more interest on your hard-earned money, helping it grow faster.
- Exclusive Offers and Discounts: As a premium Moniepoint customer, you’ll gain access to a world of exclusive offers, discounts, and promotions from various merchants and service providers. These perks can help you save money on everyday expenses.
- VIP Customer Support: When you upgrade your account, you’ll enjoy priority customer support from dedicated representatives who are committed to resolving your inquiries promptly. No more waiting in long queues or dealing with delayed responses.
- Premium Debit Cards: Moniepoint issues complimentary premium debit cards to its upgraded account holders. These cards often come with additional benefits and privileges, such as cashback rewards or airport lounge access.
By taking advantage of these benefits, you can truly maximize the value and convenience of your Moniepoint digital banking experience.
Tips for a Smooth Moniepoint Account Upgrade
To ensure a hassle-free account upgrade process with Moniepoint, consider the following tips:
- Review Your Needs: Before initiating the upgrade, take some time to review your banking needs and determine the account tier that best suits your requirements. Evaluate factors such as transaction volumes, savings goals, and desired privileges.
- Gather Required Documents: As mentioned earlier, you’ll need to provide certain documents like a valid ID and proof of address. Have these documents ready in digital format to streamline the process.
- Check Your Wallet Balance: Ensure that you have sufficient funds in your Moniepoint wallet to cover the upgrade fees. This will prevent any hiccups during the payment step.
- Follow the Steps Carefully: When initiating the upgrade process, follow the steps outlined in the guide carefully. Double-check the information you provide to avoid any errors or delays.
- Keep an Eye on Notifications: After submitting your upgrade request, monitor your Moniepoint app or email for any notifications regarding approval or additional steps required. Respond promptly to ensure a smooth transition.
By following these tips, you can make the most of the Moniepoint account upgrade process and start enjoying the benefits of premium digital banking services in no time.
FAQs on How to upgrade your Moniepoint account easily
Here are answers to some frequently asked questions about upgrading your Moniepoint account:
Will my phone number change after upgrading?
No, your registered phone number remains the same when you upgrade your Moniepoint account.
How long does Moniepoint upgrade approval take?
Moniepoint account upgrades are approved instantly as soon as the fees are paid successfully.
Can I upgrade an inactive Moniepoint account?
Yes, you just need to reactivate the dormant account before initiating the upgrade process.
Will my balance and history transfer over?
Yes, your entire transaction history, balance and wallet seamlessly transfer to the new account tier.
Do I need to visit any physical office for upgrade?
No, Moniepoint upgrades are 100% digital. No need to visit any branches or offices.
Is there a limit on number of upgrades allowed?
No, you can upgrade between Moniepoint tiers as many times as needed without restrictions.
Can I pay upgrade fee from other bank apps?
No, upgrade fees can only be paid directly from your Moniepoint wallet balance.
How quickly can I downgrade after upgrading?
You can downgrade your Moniepoint account immediately after upgrading if needed. It’s instant.
Will my virtual card details change after upgrade?
Yes, upgrading account tiers will deactivate your old virtual card and issue a new one.
Can I apply for overdraft facility after upgrading?
Yes, account upgrades make you eligible to apply for the Moniepoint overdraft option.
Is there a way to upgrade without valid ID?
No, a valid government issued ID is mandatory for completing the Moniepoint upgrade process.
Does my physical debit card change after upgrade?
No, your existing physical debit card details remain unchanged even after account tier upgrade.
Will I lose my referral bonuses after upgrading?
No, any referral bonuses accumulated will still be available in your account after the upgrade.
Can accounts under investigation be upgraded?
No, accounts being investigated for suspicious activities cannot be upgraded until issues are resolved.
Do I get a new account number after upgrading?
No, your existing Moniepoint account number remains the same after upgrading to premium tiers.
Read more: finance how to close delete or deactivate your kashcash account easily
Conclusion
Upgrading your Moniepoint digital bank account provides access to higher limits, better rates and exclusive VIP privileges tailored to your needs. The upgrade process is quick, easy and can be completed 100% online.
Simply follow the steps in this guide, pay the reasonable upgrade fee and enjoy next-level digital banking with Moniepoint.
After reading this blog you know about How to upgrade your Moniepoint account easily.
