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Customer Wallets are created by merchants to provide their customers with dedicated accounts for secure fund management and seamless transactions within the Monieswitch ecosystem.
Customer Wallets allow merchants to create and manage individual accounts for their customers, enabling secure transactions, recurring payments, and efficient fund management. These wallets are designed to integrate seamlessly with services like collections and recurring billing, providing merchants with a robust system for handling customer funds.

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Creating a Customer Wallet

The wallet creation process is straightforward and tier-based. Here’s what you need to provide:
Create Wallet Form Interface

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Required Information

1

Select Wallet Tier

Choose the appropriate tier (Tier 1, 2, or 3) based on your customer’s transaction needs and compliance requirements.
2

Basic Information

Provide essential customer details:
  • Full Name - Customer’s complete legal name
  • Phone Number - With country code (e.g., +234 for Nigeria)
  • Email Address (Optional) - For notifications and communications
3

Verification Details

Complete KYC requirements based on selected tier:
  • Bank Verification Number (BVN) - Required for all tiers
  • Date of Birth - In DD-MM-YYYY format
  • Additional requirements - Based on tier level (see Tier Requirements below)
4

Submit & Create

Click “Create Wallet” to process the application. The wallet will be created instantly with a unique account number.

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Key Features

Tiered Capabilities

Merchants can select different wallet tiers to:
  • Set appropriate transaction limits
  • Define creation requirements
  • Manage risk levels efficiently
  • Control maximum balance caps

Dedicated Account Number

Each Customer Wallet comes with:
  • Unique account identifier
  • Individual balance management
  • Personal transaction history
  • Real-time balance tracking

Automatic Compliance

Built-in features ensure:
  • AML compliance
  • Transaction monitoring
  • Risk assessment
  • Regulatory adherence

Service Integration

Direct integration with:
  • Payment collections
  • Recurring billing
  • Automated transfers
  • Wallet-to-wallet transactions

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Tier Requirements & Limits

  • Tier 1
  • Tier 2
  • Tier 3

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Transaction Limits

  • Daily Limit: ₦50,000
  • Maximum Balance: ₦50,000

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Required Information

  • Full Name
  • Phone Number
  • Email Address (Optional)
  • Bank Verification Number (BVN)
  • Date of Birth
Tier 1 is ideal for basic transactions and entry-level customers

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Use Cases

  • Investment Platforms
  • Digital Banking
  • Subscription Services
  • E-commerce

Investment platforms can use Customer Wallets to:
  • Manage individual investor accounts
  • Process investment contributions
  • Handle dividend distributions
  • Track investment returns
  • Facilitate withdrawals

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Wallet Management

Once created, wallets can be managed through the dashboard:
Wallet Management Dashboard
  • View All Wallets - Access a comprehensive list of all customer wallets
  • Filter Options - Sort by tier, status, date created, or balance
  • Search Functionality - Find wallets by account number or customer details
  • Status Monitoring - Track active, inactive, or suspended wallets
  • Transaction History - View detailed transaction logs for each wallet

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Security & Compliance

All transactions are monitored for suspicious activity and automatically flagged for unusual patterns. Monieswitch ensures compliance with Nigerian financial regulations and CBN guidelines.

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Transaction Monitoring

  • Automatic suspicious activity detection
  • Real-time transaction validation
  • Compliance with AML/CFT regulations
  • Daily limit enforcement
  • Automated risk scoring

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Data Protection

  • Encrypted customer information
  • Secure BVN verification
  • PCI-DSS compliant infrastructure
  • Regular security audits

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API Examples

curl --location 'https://nini.monieswitch.com/wallet' \
  --header 'Authorization: Bearer {{merchantAPIKey}}' \
  --form 'name="John Doe"' \
  --form 'email="[email protected]"' \
  --form 'phoneNumber="2348012345678"' \
  --form 'tier="1"' \
  --form 'dateOfBirth="15-03-1990"' \
  --form 'bvn="22234567890"'

API

Refer to our API Documentation for integration details

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Next Steps

Tier System Details

Learn more about tier requirements and limits

API Reference

Explore complete API documentation

Transaction Management

Manage wallet transactions and transfers

Compliance Guide

Understand KYC and AML requirements
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