You too can make money as a Zenith bank POS agent. But how do you go about starting, getting a POS machine from the bank, and having your payment terminal? This article will be detailing that and explaining in detail what the business of a bank POS agent is and what is in it for you.
Who is a Zenith Bank POS Agent?
Zenith bank, in a quest to take banking services closer to its customers in all corners of the country, has launched this financial inclusion service. The bank cannot have its branches in every neighborhood and community, and that for one, would have made it very hard to expand its reach.
With Zenith Bank POS agents, the bank can have its operation in as many smaller towns and villages as possible. These POS agents are expected to carry out financial and banking services on behalf of the bank. The task of a Zenith bank POS agent entails opening an account for customers, accepting cash deposits and making cash withdrawals, funds transfer, payment of bills, and purchase of airtime.
Benefits of being an agent
If you already have a business running and have always dealt with the stress of going to the bank at the end of every business day to deposit the day’s money intake, this POS agency is a very unique way to send cash into your bank account without having to go to the bank.
When people want to withdraw from their accounts, you debit from their accounts, credit your account, and give them cash. This automatically clears any extra cash off your hands.
You also get a chance to create an extra source of income. There are commissions that you will be getting on each transaction. Imagine having hundreds of transactions every day. The more the transactions, the more you can make.
In addition to this, customers who would like to purchase some other things in your store can still pay with their debit cards. You get more people to see what you’re selling without paying for an advert and when some of them want to pay, they pay with their card, so you don’t have to worry about handling cash every time.
I wrote an article on how to get Opay POS machine.
So how can you become a Zenith bank POS agent?
The main thing you need to be a POS agent is a POS machine. POS machines can be gotten at any Zenith bank branch around you.
You will need to:
- Have a business that already has a trading name. Most likely even registered with the government,
- Your store must have been in its present address for a minimum of 12 months.
- It should also be having good foot traffic. If you’re in a market or a shopping mall, it’s even better.
- You should have a minimum of one staff and one desk to handle your Zenith bank POS agent services.
- You should have been operating your Zenith bank account for a minimum of 6 months.
If you have gotten all of these ready and you feel you can now start operating a Zenith bank POS agency, you will need to visit your closest Zenith bank branch and fill a form. Here are some documents you should go with to hasten the process.
If you want to open a corporate account, you will need to submit,
- A utility bill or any other verifiable proof of address.
- A valid ID.
- 2 passport photos.
- Your tax identification number (TIN)
- Your company’s certificate of incorporation
- Your company’s memorandum and article of incorporation.
If you want to open a Zenith bank POS agent account as an individual, you will need,
- Utility bill to verify your address
- A valid ID
- 2 passport photos
You’re not required to pay anything to become a POS agent. So don’t fall for people who might want to defraud you. All you need to do is to go to the bank branch closest to you. Don’t let any agents be an intermediary between you and the bank.
After your application has been accepted, you will get a POS machine, and you can start operating your own POS agency. You will then need to download the agent banking app. The app is only available on android, so you might have to invest in an android phone if you don’t have one already.
Please let me know if this article is as detailed and easy to follow as possible. I’d love to hear every one of your comments and thoughts on this article.