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What Are The Requirements For Getting A POS Machine? - Business - Nairaland

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What Are The Requirements For Getting A POS Machine? by Ogetogeo(m): 10:07pm On Oct 05, 2014
Good evening house, I would like to know the criteria or requirements for getting a POS machine from our financial institutions.

I am aware that different banks have different criterion, so I would like to know if possible the different requirements for each bank, so as to make a firm decision on which to go with. I think some other people on the forum might also be interested to know being that the economy is moving cashless and soon most businesses would have need for a POS as a means of payment for flexibility sake.

So, I plead with those in the know and insiders to tell us what to expect and how it works with their banks and all.


Hoping to get firm feedbacks

Shalom!

15 Likes 1 Share

Re: What Are The Requirements For Getting A POS Machine? by Youngzedd(m): 6:18am On Oct 06, 2014
Needed too

4 Likes 1 Share

Re: What Are The Requirements For Getting A POS Machine? by maduka001(m): 6:37am On Oct 06, 2014
If you already have an account with a bank, either savings, current or corporate. Just let your account officer know that you need a POS machine, for example in Skye Bank, all you need to do is to fill an application form and within a week, your machine will be delivered to your shop/retail outlet. They also offer routine after installation maintenance services (all @ no cost to the merchant). All you have to do is to make sure that your customers continue to use the terminal. Skye Bank is there is expand your world.

38 Likes 4 Shares

Re: What Are The Requirements For Getting A POS Machine? by sassygal(f): 6:53am On Oct 06, 2014
Once u have a business account with Gtbank, you fill an application form and they bring to your business address in a week or two. They also do maintenance

11 Likes 2 Shares

Re: What Are The Requirements For Getting A POS Machine? by Ogetogeo(m): 11:54am On Oct 06, 2014
maduka001:
If you already have an account with a bank, either savings, current or corporate. Just let your account officer know that you need a POS machine, for example in Skye Bank, all you need to do is to fill an application form and within a week, your machine will be delivered to your shop/retail outlet. They also offer routine after installation maintenance services (all @ no cost to the merchant). All you have to do is to make sure that your customers continue to use the terminal. Skye Bank is there is expand your world.

Thank you for your response,you mean a savings account is ok too with skye bank? And can new savings account customers apply for that or need to meet a new requirement before they can?

1 Like 1 Share

Re: What Are The Requirements For Getting A POS Machine? by Ogetogeo(m): 11:56am On Oct 06, 2014
sassygal:
Once u have a business account with Gtbank, you fill an application form and they bring to your business address in a week or two. They also do maintenance

Thank you for your response but please must one have a business account with GTB before one can apply and get the POS from GTB? What of one that already have a savings account with the bank active for years?

2 Likes

Re: What Are The Requirements For Getting A POS Machine? by Ogetogeo(m): 2:24pm On Oct 06, 2014
Please more answers.

1 Like 1 Share

Re: What Are The Requirements For Getting A POS Machine? by sassygal(f): 11:16pm On Oct 06, 2014
Ogetogeo:


Thank you for your response but please must one have a business account with GTB before one can apply and get the POS from GTB? What of one that already have a savings account with the bank active for years?

I believe Pos are assigned to businesses alone and not individuals maybe if your savings is for your business but ask your account officer

2 Likes 1 Share

Re: What Are The Requirements For Getting A POS Machine? by iMerchant: 11:23pm On Oct 06, 2014
sassygal:

I believe Pos are assigned to businesses alone and not individuals maybe if your savings is for your business but ask your account officer

sassygal:
Once u have a business account with Gtbank, you fill an application form and they bring to your business address in a week or two. They also do maintenance

What you need is a Current Account (Individual, Business or Corporate).

4 Likes

Re: What Are The Requirements For Getting A POS Machine? by iMerchant: 11:37pm On Oct 06, 2014
Ogetogeo:
Good evening house, I would like to know the criteria or requirements for getting a POS machine from our financial institutions.
I am aware that different banks have different criterion, so I would like to know if possible the different requirements for each bank, so as to make a firm decision on which to go with. I think some other people on the forum might also be interested to know being that the economy is moving cashless and soon most businesses would have need for a POS as a means of payment for flexibility sake.
So, I plead with those in the know and insiders to tell us what to expect and how it works with their banks and all.
Hoping to get firm feedbacks
Shalom!

What you need:

1. An Account - Before any bank deploy a POS terminal to your business outlet, you need to maintain an account with them.

2. POS Document and Agreement - You need to collect POS document from your account officer or the nearest branch of the bank.

3. POS Charges - POS terminals and support are free but you pay a fee per transaction. (Typically, 1.25% with a cap or NGN2,000).

Regards

9 Likes 2 Shares

Re: What Are The Requirements For Getting A POS Machine? by klipse: 12:01am On Oct 07, 2014
Hi, may I introduce to you "Uxie" a brand product from our start-up company.

Uxie is a simple light-weight mobile application that runs on your smart phone. It is designed to overcome the flaws of the clumsy POS devices issued by our banks such as No network, incomplete transactions, battery life, portability and bank account restrictions etc.
Uxie can be linked to any bank account (savings or current).

We have just launched this new product and would like to have you as one of our pilot users hence all transaction costs will be waived for your first 25 transactions.

If you are interested in being a pilot user, please contact us on uxie@panthelope.com

Thanks

2 Likes

Re: What Are The Requirements For Getting A POS Machine? by maduka001(m): 7:48pm On Oct 30, 2014
Ogetogeo:


Thank you for your response,you mean a savings account is ok too with skye bank? And can new savings account customers apply for that or need to meet a new requirement before they can?

A savings account is okay with Skye Bank. A new savings account can apply for it as long as all the requirements to open a savings account are in place.
Re: What Are The Requirements For Getting A POS Machine? by maduka001(m): 7:53pm On Oct 30, 2014
Also note that, effective November 1st, 2014 the previous 1.25% with a CAP of N2,000 that is charged for POS usage will be reduced to 0.75% with a CAP of N1,200, also COT charges will be removed from all POS related transactions.

4 Likes

Re: What Are The Requirements For Getting A POS Machine? by ACM10: 8:31am On Jan 01, 2016
Nice
Re: What Are The Requirements For Getting A POS Machine? by victorpopoola20: 3:46am On Jan 06, 2017
I operate zenith bank and nobody is talking of the bank in regarding to obtaining pos. Does it work with zenith bank?
Re: What Are The Requirements For Getting A POS Machine? by deniguy01(m): 2:39am On Apr 09, 2017
victorpopoola20:
I operate zenith bank and nobody is talking of the bank in regarding to obtaining pos. Does it work with zenith bank?
bro, if u got one, I got a business for you. .its gonna generate a lot of cash

2 Likes 1 Share

Re: What Are The Requirements For Getting A POS Machine? by JohnNgene: 8:15pm On May 07, 2017
When I visited Fidelity Bank here in Agbani last week, they told me my business will qualify for a P.O.S when it generates a minimum of N1million per month. Imagine that! Lol.

I really need detailed information on this P.O.S issue. Nigerian banks, where are you? Come and give us answers.

4 Likes

Re: What Are The Requirements For Getting A POS Machine? by cyif2003(m): 9:01pm On May 07, 2017
JohnNgene:
When I visited Fidelity Bank here in Agbani last week, they told me my business will qualify for a P.O.S when it generates a minimum of N1million per month. Imagine that! Lol.

I really need detailed information on this P.O.S issue. Nigerian banks, where are you? Come and give us answers.
same thin I was told last yr. useless bank
Re: What Are The Requirements For Getting A POS Machine? by ol2012: 9:42pm On May 07, 2017
deniguy01:

bro, if u got one, I got a business for you. .its gonna generate a lot of cash

Bros me,
I get POS oh!
I get two(2) sef
I've sent you a PM
Re: What Are The Requirements For Getting A POS Machine? by JohnNgene: 4:10am On May 08, 2017
cyif2003:
same thin I was told last yr. useless bank


It was so embarassing. Made me feel like a useless businessman. Lol.
So did you finally get the P.O.S from another bank?

1 Like

Re: What Are The Requirements For Getting A POS Machine? by winkmart: 7:26am On May 08, 2017
GO TO THE POST OFFICE
Re: What Are The Requirements For Getting A POS Machine? by winkmart: 7:27am On May 08, 2017
deniguy01:

bro, if u got one, I got a business for you. .its gonna generate a lot of cash

Am interested too, please
Re: What Are The Requirements For Getting A POS Machine? by cyif2003(m): 7:27am On May 08, 2017
JohnNgene:


It was so embarassing. Made me feel like a useless businessman. Lol.
So did you finally get the P.O.S from another bank?
not yet. I am thinking of opening a current account with diamond bank.. kus I need d Pos asap

1 Like 1 Share

Re: What Are The Requirements For Getting A POS Machine? by Goldenheart(m): 7:27am On May 08, 2017
cool

1 Like

Re: What Are The Requirements For Getting A POS Machine? by Tenim47(m): 7:28am On May 08, 2017
winkmart:
GO TO THE POST OFFICE
undecided

1 Like 1 Share

Re: What Are The Requirements For Getting A POS Machine? by SexyNairalander: 7:30am On May 08, 2017
booked
Re: What Are The Requirements For Getting A POS Machine? by damosade(m): 7:33am On May 08, 2017
For first bank, walk in to any branch. Ask for the retail dept .any relationship manager or marketing associate will do the work. Make sure you have any account the pos will be linked with. Sign agreement form week later you go and get it....that's all.. Note : 0.75 % on transactions free for filling stations. You can also use your pos as agency banking in your area.

2 Likes

Re: What Are The Requirements For Getting A POS Machine? by kolafolabi(m): 7:34am On May 08, 2017
maduka001:
If you already have an account with a bank, either savings, current or corporate. Just let your account officer know that you need a POS machine, for example in Skye Bank, all you need to do is to fill an application form and within a week, your machine will be delivered to your shop/retail outlet. They also offer routine after installation maintenance services (all @ no cost to the merchant). All you have to do is to make sure that your customers continue to use the terminal. Skye Bank is there is expand your world.

This nairalander is surely one of SKYE bank staff... Hin get sweet mouth.

22 Likes 1 Share

Re: What Are The Requirements For Getting A POS Machine? by Dottore: 7:35am On May 08, 2017
Ok
Re: What Are The Requirements For Getting A POS Machine? by rheether(f): 7:38am On May 08, 2017
maduka001:
If you already have an account with a bank, either savings, current or corporate. Just let your account officer know that you need a POS machine, for example in Skye Bank, all you need to do is to fill an application form and within a week, your machine will be delivered to your shop/retail outlet. They also offer routine after installation maintenance services (all @ no cost to the merchant). All you have to do is to make sure that your customers continue to use the terminal. Skye Bank is there is expand your world.

I know you work with Skye bank

5 Likes

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