We all know that it has become a normal culture for traditional banks in Nigeria to offer short code services for the purpose of offline banking. Now, fintech companies are also counting themselves in. Almost all fintechs and neobanks in Nigeria have integrated a dedicated USSD code for their account holders.
Moniepoint is also not standing behind in the game. The African-fastest growing fintech companies offers a USSD code of *5573# for both its personal and business account holders. The *5573# short code enables offline banking for transfers, airtime purchase, data purchase, balance checks, notifications and alerts, and security.
Notably, the USSD short code works on major network providers including MTN, Airtel, T2, and Globacom. Meanwhile, it's important to let you know that if you must use this service, a ₦10 fee will be charged from your Moniepoint account balance for everything dial you initiated.
How to Activate Moniepoint USSD Code
The Moniepoint USSD Code must be activated via your Moniepoint registered phone number regardless of your type of account. I mean, if you're a business account holder, personal account holder, POS agent, or merchant, you'll need to dial *5573# on the mobile number linked to your Moniepoint account.
If you dial the short code on a number not linked with Moniepoint account, you'll get this error message: “you do not have an account with Moniepoint yet. Download the Moniepoint app to open an account.”
However, if you're getting this error message if your number is linked to a Moniepoint account, that means you've not activated the feature on your account. To activate the USSD banking on your Moniepoint account, go-to “settings” >> “transaction settings” under your profile menu. You'll see “USSD Banking” toggle button. Toggle it ON to activate the feature.
You will be prompted to create a unique USSD PIN. Follow the prompts to create a USSD PIN you will remember because the PIN will be required everytime for transactions authentication performed via USSD banking. Moreover, it's not necessary that the PIN be the same with your mobile banking or ATM PIN.
How to Use Moniepoint USSD Short Codes
- Moniepoint USSD Code for Loan: Moniepoint working capital cannot be accessed through USSD banking. You'll need to be an agent, merchant, or business to become eligible for working capital on the Moniepoint business banking app.
- Moniepoint USSD Code for Airtime: Dial *5573*Amount*Number# to recharge card to any mobile number of your choice. However, follow the prompts that follow to enter your PIN for authentication. However, if you're recharging airtime for yourself (I mean, your registered phone number), then you don't need to add the phone number. Just dial *5573*Amount#.
- Moniepoint USSD Code for Transfer: If you want to send money to any bank account of your choice in Nigeria from Moniepoint using short code, simply dial *5573*2*Amount*AccountNumber#. Follow the prompts that follow to authorize the transfer using your unique USSD PIN. However, if you want to send money to other Moniepoint users, just dial *5573*1*Amount*Account Number#.
- Moniepoint USSD Code for Betting: To add balance to or fund your sport betting account using Moniepoint USSD code, dial *5573# and select the "Bill Payment" option. Next, enter your amount and type in your betting account. Authorize the transaction using your PIN. In simple procedure: *5573# >> bill payment >> amount >> betting account number/ID >> PIN.
- Moniepoint USSD Code to Check Balance: To check your Moniepoint account balance, dial *5573*5# on your registered mobile phone.
- Moniepoint USSD Code for Resetting PIN: Use *5573*6# to reset your PIN. This PIN reset works for both the account transaction PIN and the USSD transaction PIN. But you'll need to complete some customer verification before you will be allowed to carry out the action.
- Moniepoint USSD Code for OTP: If you want to receive any Moniepoint OTP code for verification and the code is not delivered via SMS or email, you can simply dial *5573*73PIN#. This short code works for all major service providers in Nigeria.
- Moniepoint USSD Code for Blocking Account/Card: If your phone is stolen or your Moniepoint ATM card is misplaced, simply use *5573*911# to place a “Post No Debit” (PND) restriction on your account and card. The code is also the solution to unblock or remove the restriction.
- Moniepoint USSD Code for Data: Dial the Moniepoint short code, and choose bill payment option from the list of options available on the list. Under the bill payment menu, select “Data” and choose the GB/MB you want to buy. You'll see the amount the GB you choose cost. If you're good with it, proceed and input your phone number and PIN to complete the transaction.
Moniepoint USSD Code Not Working
If Moniepoint USSD short code is not working, there are few reasons why it's happening. First of all, you may not have activated the feature on your Moniepoint account. If that's the case, then you'll need to toggle on “USSD Banking” under the “transaction settings” in your “profile's settings”.
Network downtime is also one of the major causes of USSD Code not working. There's nothing you can do about this as the issue comes from your network providers and will be rectified by them.
Insufficient balance in your Moniepoint account is another reason you may have a failed USSD transaction. Because a N10 service fee is charged everytime you initiated the USSD banking, if there's no sufficient funds in your Moniepoint, you'll also have fail USSD transaction.
For example, you have exactly N1,000 in balance and you're trying to transfer the N1,000 out. A N10 service fee will be charged in the process, so you'll be needing N1,010 to fulfill the transaction. If the N10 is not on top, the transaction will fail. So, it's important to have enough funds in your balance before you initiate a transaction using the USSD code.
Lastly, inputting incorrect PIN will also caused the USSD code not to work.
