LaunchPad
Business Operations Setup

Monnify Setup

Account opened, verification completed and settlement configured.

  • Government fees included
  • + Transaction fees
Our fee₦25,000Government fees included in our fee.
Billed separately, by the provider
  • Transaction feesMonnify · per transaction

Paid to them directly, in your name. Not part of our fee.

Ask on WhatsAppEmail us

We reply within a working day.

Monnify is a Nigerian payment platform widely used for bank transfer collections and reserved virtual accounts. We open your account, complete verification and configure settlement so collections reach your business bank account.

Who it's for

  • Registered Nigerian businesses that collect most payments by bank transfer
  • Businesses that want dedicated account numbers for customers or branches
  • Owners who need Monnify set up alongside, or instead of, another gateway

What you get

  • A Monnify account opened in your business's registered name
  • Verification completed using your CAC and tax documents
  • Settlement configured to your business bank account
  • A check that the account is ready to receive payments
  • A handover note covering your dashboard, settlements and next steps

What we need from you

  • Your CAC certificate
  • Your Tax Identification Number (TIN)
  • Business bank account details for settlements
  • A valid ID for a director or the proprietor

How it works

  1. We review your documents to confirm the details line up.
  2. We open the account and submit it for verification.
  3. We work through any follow-up requests from Monnify with you.
  4. Once approved, we configure settlement and hand over.

Why LaunchPad

  • Documents checked before submission to reduce back-and-forth
  • Settlement set up and confirmed, not left for you to find in the dashboard
  • We can register your business with CAC and NRS first if you are not yet registered

Frequently asked questions

Should I choose Monnify or Paystack?

It depends on how your customers pay. Monnify suits businesses that rely on bank transfers and virtual accounts. Paystack is common for card payments and online checkout. Many businesses use both, and we can advise when you contact us.

Who approves the account?

Monnify makes the final verification decision. We prepare the application properly and handle follow-up with you.

Can this be connected to my website or app?

Yes. Add payment gateway configuration to your quote and we connect and test it.

Related services