Home Business How to Delete, Close or Deactivate My Moniepoint Account Without Stress

How to Delete, Close or Deactivate My Moniepoint Account Without Stress

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Closing or deactivating your Moniepoint account is a decision that may arise due to various reasons. Whether you are switching to a different financial service provider, no longer require the account, or simply want to consolidate your accounts, knowing how to close or deactivate your Moniepoint account without stress is essential. By following the proper procedures and taking the necessary precautions, you can ensure a smooth and hassle-free account closure experience.

In this guide, we will provide you with step-by-step instructions and valuable insights on how to close or deactivate your Moniepoint account without stress. We will address important considerations, such as account verification, outstanding balances, linked services, data privacy, and alternative options. Understanding these aspects will help you navigate the account closure process with confidence and minimize any potential challenges that may arise.

Whether you are an existing Moniepoint user looking to close your account or simply exploring the process for future reference, this guide will equip you with the knowledge and tools necessary to successfully close or deactivate your Moniepoint account. By taking the time to understand the procedures involved and considering the associated implications, you can make informed decisions and ensure a smooth transition during the account closure process.

Reasons for Closing/Deactivating Your Moniepoint Account

There could be several reasons why you might need to close or deactivate your moniepoint account such as: 

  • Switching to a Different Financial Service Provider: One common reason for closing or deactivating your Moniepoint account is when you decide to switch to a different financial service provider that better suits your needs, offers more favorable terms, or provides additional features and benefits.
  • Account Consolidation: If you have multiple financial accounts and prefer to streamline your finances, closing or deactivating your Moniepoint account can be a way to consolidate your accounts into a single platform or provider for easier management and tracking.
  • Changing Financial Needs: As your financial needs evolve, you may find that Moniepoint no longer aligns with your requirements. For example, if you require more advanced features, personalized services, or different financial products, closing your Moniepoint account may be necessary to explore other options that better cater to your changing needs.
  • Limited Usage or Inactivity: If you find yourself using your Moniepoint account less frequently or not at all, closing or deactivating it can be a way to avoid maintenance fees or keep your financial portfolio organized by removing unused or underutilized accounts.
  • Dissatisfaction with Services or Terms: In some cases, dissatisfaction with the services, fees, or terms offered by Moniepoint may prompt you to close or deactivate your account. This could be due to high transaction fees, limited customer support, unfavorable loan terms, or any other factors that impact your overall experience.
  • Security and Privacy Concerns: If you have concerns about the security or privacy of your personal and financial information, you may choose to close your Moniepoint account to mitigate potential risks. This could be due to data breaches, insufficient security measures, or any other factors that compromise the confidentiality of your information.
  • Financial Restructuring or Life Changes: Major life events such as job changes, relocation, or significant financial restructuring may necessitate the closure or deactivation of your Moniepoint account. These events can prompt a reassessment of your financial strategy and the need to make adjustments accordingly.
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Prioritize your financial goals and ensure that the decision aligns with your long-term financial plans and objectives.

Step By Step Process To Delete, Close or Deactivate Your Moniepoint Account 

Closing or deactivating your Moniepoint account can be done through a step-by-step process. Here’s a guide on how to close or deactivate your Moniepoint account:

  • Contact Moniepoint Customer Support: Start by reaching out to Moniepoint’s customer support. You can find their contact information on the Moniepoint website or in the mobile app. Contacting customer support ensures that you have the most up-to-date instructions and guidance on closing or deactivating your account.
  • Gather Required Information: Before proceeding with the account closure process, make sure you have all the necessary information and documents ready. This may include your Moniepoint account details, identification documents, and any outstanding transactions or balances.
  • Request Account Closure: Inform the Moniepoint customer support representative that you would like to close or deactivate your account. They will guide you through the process and may ask you to provide certain details to verify your identity and ownership of the account.
  • Settle Outstanding Transactions: If you have any pending transactions or balances on your Moniepoint account, ensure that you settle them before initiating the closure process. This may involve transferring funds or paying off any outstanding loan balances.
  • Follow Account Closure Instructions: Moniepoint customer support will provide you with specific instructions on how to close or deactivate your account. These instructions may include filling out a closure form, submitting necessary documents, or following an online process through the Moniepoint app or website.
  • Confirm Closure or Deactivation: Once you have completed the necessary steps, confirm with Moniepoint customer support that your account closure or deactivation request has been processed. They will provide you with confirmation and may offer additional guidance if needed.
  • Secure Your Information: After closing or deactivating your Moniepoint account, ensure that you securely store any relevant account information or documentation. This includes keeping copies of closure confirmations, transaction records, or any other information that may be useful for future reference.
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Remember to review any terms, conditions, or potential fees associated with closing or deactivating your Moniepoint account. It’s also advisable to consider alternative financial services or accounts that may better suit your needs before finalizing the closure process.

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What Happens After Closing Or Deactivating My Moniepoint Account 

After closing or deactivating your Moniepoint account, several things may occur:

  • Account Access: Once your Moniepoint account is closed or deactivated, you will no longer have access to the account and its associated features. This means you won’t be able to perform any financial transactions, check balances, or utilize any services offered by Moniepoint.
  • Data Retention: Moniepoint may retain your account data for a certain period as required by their data retention policies or legal obligations. However, this data will no longer be accessible to you, and Moniepoint will handle it in accordance with their privacy and data protection practices.
  • Communication: You may stop receiving any further communications, notifications, or marketing materials from Moniepoint related to your closed or deactivated account. However, you might still receive essential communications such as account closure confirmations or legal notices, if applicable.
  • Financial Obligations: If you had any outstanding financial obligations, such as loan repayments, it is crucial to settle them prior to closing or deactivating your account. Failure to fulfill these obligations may result in additional fees, and penalties, or impact your credit history.
  • Alternative Services: After closing or deactivating your Moniepoint account, you may need to explore alternative financial services or accounts to meet your financial needs. Research and consider other reputable financial institutions or platforms that offer the services and features you require.

Closing or deactivating your Moniepoint account is a significant decision, and it is essential to evaluate your financial circumstances and explore available options before proceeding.

How To Reactivate Moniepoint Account After The Closure 

If your Moniepoint account has been closed and you want to reactivate it, you will need to follow the specific instructions provided by Moniepoint customer support. However, I can provide you with some general steps that might help you in the reactivation process:

  • Contact Moniepoint support: Reach out to Moniepoint’s customer support team through their official channels. This could be via email, phone, or through their website. Explain your situation and inform them that you want to reactivate your closed account. They will guide you through the necessary steps.
  • Verify your identity: Moniepoint will likely require you to verify your identity to reactivate your account. Prepare any identification documents that might be needed, such as a valid ID card, passport, or driver’s license.
  • Follow the instructions: Moniepoint’s customer support will provide you with specific instructions to reactivate your account. It might involve filling out a reactivation form, providing additional information, or undergoing a verification process. Follow their instructions carefully and provide accurate information.
  • Resolve any outstanding issues: If your account was closed due to a specific issue or violation of Moniepoint’s terms and conditions, you may need to address those issues before reactivation. If there are any pending payments, outstanding balances, or disputes, resolve them as instructed by Moniepoint.
  • Wait for confirmation: After you have completed the reactivation process as instructed, wait for confirmation from Moniepoint. They will notify you if your account has been successfully reactivated or if any further action is required.
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Remember, these steps are general guidelines, and the specific process for reactivating your Moniepoint account might vary.


How do I block my Moniepoint account? 

To block your Moniepoint account, you need to contact Moniepoint customer care directly. They will provide you with the necessary instructions and assistance to block your account. Reach out to Moniepoint’s customer care through their official channels, such as their website, email, or phone.

How do I contact Moniepoint customer care? 

You can contact Moniepoint customer care through their official channels. Visit the Moniepoint website to find their contact information, including phone numbers and email addresses. Additionally, you can reach out to them through their social media channels if available.

What is another name for Moniepoint POS? 

Moniepoint POS is commonly referred to as “Moniepoint Agent Banking.” It is a service provided by Moniepoint that enables individuals or businesses to operate as agents, facilitating financial transactions and providing various banking services to customers.

What are the benefits of Moniepoint business account? 

Moniepoint business account offers several benefits, including:

  • Cash withdrawal and deposit services for customers.
  • Quick and convenient money transfers.
  • Bill payments for utilities, subscriptions, and services.
  • Airtime and data recharge services.
  • Account balance inquiries and mini-statements.
  • Provision of banking services in remote areas through Moniepoint agents.
  • Opportunity to earn commissions and generate additional income as a Moniepoint agent.

Which bank owns Moniepoint POS? 

Moniepoint POS is not owned by a bank. It is a product/service provided by TeamApt Limited, a Nigerian fintech company. TeamApt collaborates with various partner banks in Nigeria to offer financial services through the Moniepoint platform.


In conclusion, closing or deactivating your Moniepoint account doesn’t have to be a stressful process. By following the step-by-step guide and contacting Moniepoint’s customer support, you can smoothly navigate through the account closure process. 

It’s essential to gather the necessary information, settle any outstanding transactions, and carefully follow the instructions provided by customer support.

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