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HOW TO START A POS BUSINESS (DEPOSIT AND WITHDRAW)

Before starting up a POS business you will consider your capital I think 200k should be ok exclusive of shop rent.

     Here are the business equipment


1. Bank account
2. Capital
3. POS machine
4. Android phone
5. Shop, kiosk or outlet


  • Now you have an account or you just open a new one
  • You have up to 200k as your capital,  note not all bank I think for fidelity you might need up to 1m . Skye bank, first Bank, Diamond current account, Gtb bank business account is still more preferable 
  • You have your phone capable of browsing for money transfer 
  • You might rent a shop, manage with someone, or even an umbrella but make sure you have a banner to show what you are into
Note: though the collection of POS machine might be free but there is a charges of 0.75 on every transaction

Enter into any bank ask for  customers center or your account officer

ZENITH BANK
Zenith bank, you will need to have held your current account for at least 6 months prior to your application.
The application form requests the full business name, the business owner account number, the business email address, phone numbers and other minor details, and processing takes 72 hours. You could email the form to possupportunit@zenithbank.com and also copy Zenithdirect@zenithbank.com .
Zenithdirect@zenithbank.com is also the contact e-mail address to note if you have any problems.
The business owner will then be required to sign a POS agreement document with the bank. Upon approval, the POS terminal is delivered in less than two weeks to the business address indicated on the form.

GTBANK
In Guaranty Trust Bank, only current account owners qualify to receive POS terminals. Account owners must have held their accounts also for at least six months, just like Zenith Bank. The form is then  emailed to
sme@gtbank.com or submitted to the account officer. The business owner is also required to sign the agreement form. See a detailed post here .

SKYE BANK
When we were tired of the research, we decided to put calls through. The customer care representative informed us that we could get the POS terminal even with a savings account as far as the relationship officer approved the request. Business owners also only need to fill the application form and the agreement, and then wait 14 days for a response.

NOTE:
Merchants do not purchase the POS terminal. However, there has to be a certain minimum activity to continue enjoying the service which includes routine free maintenance.
The terminals are serviced only through the banks.
There is a charge of 0.75% on successful transactions which is deducted from completed transactions before being credited to your account.
The POS terminals discussed above have card processing capability. There are other functions of the terminal such as recharge card printing, utilities bills’ payments and other applications. The POS terminals used by the ticketing officers in the BRT couldn’t accept our debit cards, so an application was installed to make it possible.

If this article has help you in any way kindly send message to Chosen484@gmail.com or 08147445159 

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