How does Mkobo make money then?
We charge a flat withdrawal fee for each transaction. A minimum of N500 and Maximum of N1,000 for earlypay withdrawal above N10,000
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Is my money safe with Mkobo?
Yes, your money is safe with us. We secure all accounts with the same high-security encryption used by regular banks and we are transparent in all our dealings. In addition to the high security encryption, we offer extra protection by ensuring that ...
Is Mkobo a licensed bank?
Mkobo Microfinance Bank is licensed by the Central Bank of Nigeria (CBN) and insured by the Nigeria Deposit Insurance Corporation (NDIC).
How is Mkobo different from other banks?
Mkobo is a digital bank offering transparency and fair banking practices. It operates solely on your phone (with internet access) and delivers debit cards to any address in Nigeria.
What do I need to open a Mkobo account?
To open an account with Mkobo, you must be at least 16 years old, own a BVN, a phone number and an email address or an already existing account number.
How do I activate Mkolo Savings?
Log into your Mkobo account, select "Save Money," then create a savings plan.