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How to start a Pos Business with First Bank

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. 

Firstbank POS

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:


  1. You must be an existing business owner
  2. An accessible business location
  3. A valid means of identification like an International Passport, Voter’s card, Driver’s License, etc.
  4.  Utility bill
  5. Two passport photographs
  6. Biometric Verification Number ( BVN)
  7. 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: 



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. 




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