FAQ ABOUT MINT DIGITAL BANK
Mint Digital Bank is fast-becoming one of the leading digital banks in Nigeria. Being provided by Finex Microfinance bank, the bank has been dedicated to providing the best banking experience for its customers by developing an efficient financial mobile app for carrying out banking processes efficiently. Here are questions people often ask us with answers to them:
How do I start using Mint Digital Banking Application?
To start using Mint Digital Bank , you must have the MyMintApp and also own an account with Mint Digital Bank . To access the MyMintApp, simply download the “MyMintApp” from your phone’s app store (Apple App Store for IOS and Google Playstore for android).
If you encounter difficulties downloading from the app store, you can download using the link on our website @ www.bankwithMint.com
To proceed with creating an account, you’ll need to have a valid BVN, email address, and identification document to complete the process.
Up next is proceeding with the account setup. Some personal information will be required to complete the 3 steps account setup
- Filling a form that contains questions about you
- Snapping and uploading your ID- ID could be in the form of National ID card, voters card, driver’s license or international passport
- Taking a selfie to confirm your identity
Having completed all the steps of opening your account, sign in on any device, and you’ll find your account number below your balance on the top left side of the app home screen.
What exactly is Mint Digital Bank ?
Mint Digital Bank is a digital bank licensed by the Central Bank of Nigeria and a subsidiary of Finex Microfinance bank. Mint Digital Bank has made banking easier. With MyMintApp, all banking transactions such as current account opening , deposits, transfers, bill payments, loan applications, and payments can be carried out without being physically present at a bank branch and at zero cost. At Mint Digital Bank , queues in bank branches do not exist.
What is a digital bank
A digital bank is an online platform where all banking services including money deposits, withdrawals, transfers, and Loan applications are carried out via the internet. A digital bank works with high levels of process automation and web-based services to deliver banking services and transactions.
Why is Mint Digital Bank the best bank to bank with?
With a variety of innovative products, Mint Digital Bank is considered one of the best digital banks to bank with. It is designed to solve your personal lifestyle needs, make your future financial goals attainable, and offer better banking experience using an efficient digital app. Mint Digital Bank is being provided by Finex microfinance bank. Finex microfinance bank is the no 1 microfinance in Lagos, Nigeria, and has all deposits insured by Nigeria Deposit Insurance Corporation (NDIC).
How does Mint Digital Bank help me manage my money better?
With the MyMintApp money manager, your spending is categorized into household/shopping, transport, bills and so much more, this categorization enables you to know different aspects of your lifestyle that you need to curtail your spending. With the spending limit tool, Mint Digital Bank allows you to spend within your budget only. Your limits could be adjusted in case of emergencies.
How do I keep my Mint Digital Bank account safe
Although Mint Digital Bank uses high-level encryption protocols to keep your information and data secure, failure to apply caution when using the app could bring about a breach in security. Here are some tips to help keep your MyMintApp account safe:
- Create a strong password and transaction pin for your account. The password should comprise different characters combined. A strong password makes it difficult for people to gain access to your account. If you wish to change the password, You can do that by clicking the forgot password link on the login page.
- Always check your email box for recent activity mails that we send to you. In case of any unusual activity noticed on your account, do not hesitate to reach the customer care line immediately to report this.
- it is important to note that Mint Digital Bank will not call you or send you a message requesting your password or transaction pin, hence do not disclose your password or transaction pin to anyone as they are private. Always log-out of your account, when no longer in use before giving your device to anyone.
- If at any point your device gets stolen/missing, simply send a message to our support team via email ([email protected]), WhatsApp, all social platforms, and web live chat immediately to block your account temporarily.
- Set up your security questions and transaction pin. This will make your account more secure and used for account retrieval questions
How do I create a strong password?
The MyMintApp was designed to automatically assist you in creating a strong password. It will require you to combine lowercase letters, uppercase letters, numbers, and special characters.
How do I transfer money with MyMintApp?
To transfer money, simply sign in to your Mint Digital Bank account. Tap the + menu button at the bottom, and select Send Money.
For transfers from a Mint Bank account to another Mint Bank account, choose the recipient’s account number, after it has been validated you can input the amount you want to transfer, then click send.
For transfers from your Mint account to others, input the recipient account number; select the recipient’s bank from the list of banks that will appear. Enter the amount you want to send to the recipient, select the reason for the transfer and input the amount and click send.
How do I fund/receive money with my Mint account?
You can add money to your Mint account in three ways.
1) Transfer from an existing bank account using the bank’s mobile app or internet banking. Our name is “Mint-Finex MFB”
2.) Use an existing card from your bank to move funds inside the MyMintApp. Click the + menu button on your app screen -> Send Money and follow the steps.
3.) Walk into any bank and make a deposit using your account number.
Can I get bonuses/make extra cash on Mint Digital Bank Application? How?
Yes, you can make extra cash on Mint Digital Bank Platform in so many ways. One of such ways is the Mint transfer reward system. The Mint Digital Bank transfer reward system is where Mint Bank saves N12 for you on each of transfer of N50,000 and above. You can see your earnings on “Savings from Transfers” on the app home screen. Once the money here reaches N1000, you can withdraw the funds to your Mint Bank Account or leave it there to continue saving. This reward system is available to all customers.
Another way to earn is through our goal-based flexible savings. With our Mint Digital Bank savings, the higher you save, the more you earn. You can earn up to 8% interest on your money.
How do I become eligible to own a Mint Digital Bank Account?
For you to be eligible to own a Mint account, you must own a BVN and a form of identification. Your form of identification could be a National ID card, voters card, Drivers’ License, or an international passport. In a situation where you have forgotten your BVN, all you have to do is to dial *565*0# on your mobile phone and your BVN code will appear. Note that a service fee of N20 will be deducted from you by your mobile network provider when checking for your BVN code.
What is my Mint Digital Bank Account transfer limit?
Mint is a bank that puts you in complete control of your account. You decide exactly what you want on your account and the transfer limit is not left out. You can set up your transfer limits inside the app. Settings -> Account Management -> Transfer Limit
I already have other bank accounts/apps. Why Mint Digital Bank ?
Mint Digital Bank is different from other banking apps because it is a digital banking app where all banking services are made available to you on your mobile device provided there is internet access while a banking app provides you with little of all banking processes such as bill payments, airtime/data purchase and transfers Mint Digital Bank will provide you with all. With the My Mint App, you don’t need to pay visits to a bank branch as everything starting from account opening down to saving and managing money can be done on your Mint app in less than five minutes.
What is my Mint Bank withdrawal limit?
There is no limit to the number of withdrawals in a month, so you can make payments and withdraw as often as you like
Can I withdraw money from ATMs with Mint?
Yes, you can withdraw money from ATMs with your Mint Digital Bank card. On the successful creation of a Mint Digital Bank account, you are given two cards at no extra cost. The first card is a virtual card for online spending while the other is a physical one for POS and ATMs. It is important to note that your cards can be controlled from your app- you can set daily limits, lock your card and reset pin
How do I pay my bills & subscriptions with Mint Digital Bank Application?
Click on the ‘+’ account select the pay my bills options and choose which of the bills or subscription you will like to pay for. You can set up auto debits for payments that are made regularly such as energy bills, workers’ salary and so much more. You can also set reminders for these payments depending on how you want it.
Can I do esusu on my My Mint app? Show me how
Esusu is a type of informal savings club arrangement between a small group of people who take turns by “throwing hand”, as the partners call it. The basic principle is that each member of the group makes a standard contribution to a common fund once per period. Then each period the total contributions are disbursed to a single member of the group. The recipient changes each period in a rotating fashion such that all the members of the group are eventually recipients. This form of savings can be done on the MyMint app using the target savings. The thrift collector could get the participants to fund his/her Mint Digital account and creates a savings plan. The money can only be accessed when it reaches the maturity date. Mint rewards savers with up to 8% interest on their money. This form of savings is perfect for raising money for group events, contributions, and causes
What is the target savings?
Target savings is a kind of savings where our customers can save towards a project or set goals such as vacation, business, family, education, etc. This is also known as goal-based savings. It allows customers to save while having flexible access to their account at anytime
How much do I need to open a Mint Digital Bank account?
In opening an account with Mint, you need no amount of money to start up. It is completely free
How do I create target savings on my My Mint app?
Click on “+” on your app, select save money, choose what you want to save for. Proceed with filling in what your saving target is, your maturity date, and how much you will be putting into the savings account. You might decide to lock savings or unlock savings. With locked savings, you will not be able to access the money in the savings until the maturity date. When a goal is matured, you can withdraw your savings plus interest. If you request a withdrawal, your Mint Digital Bank Account will be credited on the same day. Note that you can set multiple target goals depending on your needs
What is the minimum amount that I can start saving with?
The minimum amount to start saving depends on the saving tier you choose. Here’s a breakdown for the available saving plans.
- For tier 1, the minimum amount to start with is N100 and earn up to 6.8% interest per annum. The maturity period is from 30-90 days.
- for tier 2 the minimum is N100000 and you can earn up to 7.4% interest per annum. The maturity period is from 60 days to one year.
- For Tier 3, the minimum is 1,000,000 and you can earn up to 8% interest per annum. The maturity period is from 90 days to 2 years.
Note that each of the tiers offers different interest rates. Tiers are auto-upgraded once you reach the threshold and automatically downgraded when you go below the threshold.
Can I get an instant loan from Mint Digital Bank ?
Yes you can apply for an instant loan once you’ve had an active account for up to 3 months