How to start a pos business with the first bank requires a lot of information before you can decide to start the business.
Pos business has grown widely across the country these days due to the benefits that come with it.
If you are interested in learning about how to start a pos business with the first bank, you are in the right place.
First bank pos is also known as Firstmonie was invented by Firstbank of Nigeria to bring the bank closer to the customers. Also, to bridge the gap between the bank and those living far that do not have access to any first bank branch.
The first bank pos outlets have helped customers from going to the bank to perform basic banking functions like withdrawal of funds, transfer, etc
Also, the Firstmonie serves as a means of employment for young people in society.
Services provided by FirstBank pos include:
- Performing basic banking functions like transfer of funds, withdrawal, etc
- Bills payment
- Airtime purchase
- Opening of FirstBank account
- Enrolment of BVN
Benefits of Firstbank POS
There are a lot of benefits that come with using Firstbank pos. Such as:
- It is fast, reliable, and secured
- It accepts MasterCard, verve cards, and visa cards.
- Through first bank pos, you can track your sales
- Cheaper transaction charges for both individual and corporate
- It prevents the falling victim to fake currency
- First bank pos works 24/7
Requirements to become a Firstbank POS Agent
To become a FirstBank pos agent, walk into any FirstBank branch and ask to become an agent. You will be asked to meet the following requirements:
- You must be an existing business owner
- An accessible business location
- A valid means of identification like an International Passport, Voter’s card, Driver’s License, etc.
- Utility bill
- Two passport photographs
- Biometric Verification Number ( BVN)
- Prove business registration with CAC
How to Become a Firstbank Pos Agent
You don’t need to go to the bank to register as a FirstBank pos agent because you can apply from the comfort of your home.
All you need is a smartphone, and internet, and follow the following steps:
- Visit https://www.firstbanknigeria.com/personal/ways-to-bank/firstmonie/agent-banking/ where you will find the registration form
- Input your information correctly
- Tick the box to agree to the terms and condition
- Click on submit to forward your application to FirstBank.
If you do not have an access to a smartphone or the internet, you can walk into any available FirstBank branch near you to request to become a Firstbank pos agent.
Ensure you go with the requirements.
Also Read: How to increase transfer limit on first bank mobile app
Benefits of Becoming a Firstbank POS Agent
When you have successfully become a Firstbank pos agent, you get to enjoy the following benefits:
- Free POS terminal as a Firstmonie agent
- Instant access to working capital and support
- Immediate payment for all transactions done on your Firstmonie POS machine
- Insurance for you and your workers
- Self-registration, etc
Frequently Asked Questions
How much does it cost to become a Firstbank pos agent?
Answer – Firstbank doe not charge anyone who wishes to become a Firstmonie agent. It is totally free.
How much capital do I need to start a POS business?
Answer – The main capital you need for pos business is the cost of the machine and the funds you’d be dispensing to your clients. This should be between N50,000 and N250,000.
How much do POS agents make a day?
Answer – POS business is lucrative when you are in a place with a lot of people. You can make close to #7000 daily.
What are the disadvantages of POS?
Answer – One major disadvantage is a security risk. Others are a poor internet connection, regular system upgrades, etc.
This guide has provided you with all the information you need on how to start a pos business with your first bank.
The requirements like an existing business, a valid means of identification, a utility bill, etc. You also get to enjoy certain benefits when you become a first bank pos agent.