MoneyBox is a new savings and payment system based on a scratch card and enabled by any mobile phone. It provides individuals a cash-like way to remotely save, spend, and transfer money.
With MoneyBox, anyone - who can use a mobile phone - can open-up an account on the street, save money into their accounts, TopUp the phone, pay utility bills, buy insurance, pay tithes, send money to friends and relatives, withdraw money at agent locations, any bank or ATMs, get access to credit and make investments. MoneyBox creates the possibility of real-time banking functions at agent locations where cash-in and cash-outs are possible.
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Stored Value Account (SVA) "Mobile Phone Account"
What is a Stored Value Account (SVA)?
SVA is an electronic wallet created for every MoneyBox subscriber used to store the subscriber's e-money value. Once subscriber is registered, the SVA balance can be requested.
Transactions Limits:
For first level registeration, subscriber can push a max of N3,000.00 per transaction and push a total sum of N30,000.00 per day.
For second level registeration, subscriber can push a max of N10,000.00 per transaction and push a total sum of N100,000.00 per day. Subscriber can achieve second level registration at MoneyBox authorized agent locations.
With MoneyBox Stored Value Account, users can:
- Remotely save money into their accounts
- Send money to any other mobile phone number
- Send money to any bank account in a partner bank
- Remotely pay for airtime TopUp or pay bills
- Withdraw cash at any dealer/merchant/partned bank location
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How It Works?
Buy MoneyBox scratch card or e-Voucher
Load Money into MoneyBox mobile account or into any bank on MBA platform
Pay money into MoneyBox mobile account or into any bank on MBA platform
Cash-out money via MoneyBox dealer or via ATM
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