How To Start A POS Business With Access Bank (Requirements In 2020)

Many Nigerians have asked, how can i become an access bank POS agent?

While there are many articles online as to how to start a POS business in Nigeria, there appears to be no direct article that addresses the case of Access bank specifically.

This is the void that this article seeks to fill presently.

I started thinking about how to start a POS business with Access bank of Nigeria lately, so I carried out some in-depth research about it, and I came out with the following facts which will guide you in becoming an access closa agent.

This article will show you how to become an Access closa agent and Access bank agent registration, including the basic requirements and the needed financial capital in order to get started.

There are many top investment opportunities in Nigeria as at now, with high paying potentials that anyone can venture into with ease.

As funny as it may sound, church business is actually one of such profitable ventures you can start in this 2020. And on that, we have written a very comprehensive article about church business in Nigeria which you can read here.

While many persons can never venture into church business because of lack of passion for ecclesiastical things, another recommended and high paying venture in Nigeria right now is POS business in Nigeria (2020), and the best bank to start this business with is Access bank, with the reasons I will be sharing with us presently.

Nigerian banks generally have been known like the other Nigerian institutions to be performing way below expectation.

Also ReadHow To Start A POS Business With First Bank (Requirements)

With POS machines that are not working, to long queue on POS terminals, and to the over crowded banking halls. All these makes doing your normal daily banking operations very difficult and disheartening.

In the midst of a useless banking system, POS agents becomes the only reasonable alternative to the traditional banking institutions, because unlike the banks, POS agents are super fast and reliable in their operations. And on this, they get paid for the services they render.

But before then, let’s answer one question first.

What Is POS Business With Access Bank?

POS business with Access bank is a small scale financial service business which involves the rendering of financial services like withdrawals of money, transfer of money, opening of bank account, among other related baking operations outside the banking hall.

access closa agents near you

Generally, the essence becoming an access closa agent is to reduce the load of banking operations and demands in Access bank.

Hence, rather that going to the bank to queue up for hours, waiting for those inefficient banking staff to attain to your need, you can easily meet with any access closa agent nearest to you, pay a small service fee and have your financial need sorted out.

Requirements To Start A POS Business With Access Bank

There are certain requirements that you need to meet before you can obtain a legal licence to start a POS business with Access Bank. This includes:

  • You must have a location where your POS terminal will be situated. It can even be next to an Access bank branch or anywhere else. What is important is that you have a place you can call your business outlet.
  • You should have an active account with Access bank which has been made active for at least 12 months, with a capital of at least N50,000 which you intend to use for the business.
  • Any legal means of identifying who you are. This could be your international passport, Permanent voters card, Drivers licence or any other legal identity card you may have. Note that the paper National id card is not accepted.
  • A document of your utility bills, like NEPA bill or any similar document, which is intended to show your home address in Nigeria.
  • Your business registration name which has been registered with the CAC of Nigeria. The CAC is only required from corporate bodies. If you are a private person, you don’t necessarily need to have one.

Once you have met with these basic requirements above, then you are ready to start your POS business with Access bank of Nigeria. But how?

How To Become Access Closa Agent In Nigeria Easily

Becoming an access closa agent is quite easy and straight forward. Once you are sure that you have met with the above requirements, head over to any Access bank branch near you, request for their POS registration form, fill the form and submit it.

Remember, they will request for the above items we have discoursed earlier. You should endeavour to go with all of them.

Once your POS application has been approved, then you are good to get started…

The steps to become access closa agent includes:

  1. Getting your access bank POS machine
  2. Getting a business location
  3. Printing your POS business banner
  4. Getting a sales representative

Getting Your Access Bank POS Machine

How do i get access bank POS? Every aspiring access closa agent is mostly interested in knowing how the POS machine can be gotten, hence they mostly want to know the cost beforehand.

How much is Access bank POS machine? Access bank POS machine is completely free, as you don’t need to pay a dime for you to get one.

However, all you need in order to qualify for it is to meet with Access banks POS agents requirements, which we have discoursed above. Once you have met with the requirements and apply for a POS machine, it will be given to you at no cost at all.

Getting your POS machine is very critical in starting up your POS business with access bank, because that is the main tool you need in meeting the needs of your customers daily.

Get A Business Location

Your location is where your customers can come to meet you for any service you render. So the location is very important.

Many persons advice that you should go over to the village or to places where there are no ATM machines in order to make it in POS business.

closa agent location

While this may be true, it does not apply at all times. The people who are making real money on POS business with Access bank in Nigeria are those whose business locations are very close to Access bank branches across the country.

When the ATM machines in the banks are not working, or the bank is over crowded, people naturally turn to you the POS agent nearby for withdrawals, and with that you make a lot of money in towns, not in the village.

Print Your POS Business Banner

print your access closa agent banner wide

Once you have obtained your Access bank POS and have got a good location, now you should have a sign which people can see and know that an Access bank POS agent is here. Getting a good POS banner would not cost more than N5000.

Hence, it will be worth investing this small amount of money to get a quality banner for your business.

Get A Sales Representative

closa agent representative
Image source: facebook.com

If you are busy to run this POS business yourself, don’t worry as you can still employ a sales representative which you can pay like N10,000 pay month. With this, you can still concentrate on your normal daily business while your employee do the rest.

Is POS Business Profitable In Nigeria?

POS business is among the most profitable businesses in Nigeria at the moment, as the amount that you can make a month  can range from N50,000 to 200,000 depending on your location and the state of the banks around you.

Normally, the commission structure of Access closa agents looks like this:

Amount                                                         Agents  Commissions

0-5000                                                          N100

6,000-10,000                                             N200

11,000-15,000                                            N300

16,000-20,000                                           N400 and above

You should note that access closa charges are guaranteed to keep your cash flowing consistently.

The commission of the agent keeps rising as the amount of money to be withdrawn increases. We sighted the example of withdrawing money from a POS agent here because most of the persons in need of POS service come with the intention of making withdrawals.

However, if a customer wants to do transfer, you still charge the person base on the amount of money that he intends to transfer. So you see, with a POS business, its always a win win situation for you at all times.

If you enjoyed this article on how to start a POS business with Access bank of Nigeria, or you know a person that really need to read it, kindly use the share button below this page to share this article to the person. Please like and follow our Facebook page here for updates on our future articles.

Eze Elekwachi

Hi, Eze Elekwachi holds an M.Sc. in Public Administration and a PhD in view. He is the brainchild behind Cyriltips.com. People see him as a programmer, web developer, content developer and a seasoned e-marketer probably because he's good at what he does...

Leave a Reply