SurePadi agent – How to become a SurPadi agent in simple steps
February 7, 2020
SurePadi agent – Only 49% of Nigerian adults have bank accounts, this is however considered to be very poor citing the Nigerian population according Global Findex database report.
World bank data says 118 million Nigerian adults do not have bank account.
What does that suggest, it’s either they are unbanked or under-banked.
Are you a registered business owner, sole proprietor, Limited liability Company, cooperative society, individual business owner?
If you belong to any of the above categories and would probably want to add to your existing income line, I have a good news for you.
I’m about to show you an opportunity that exists within the Nigerian financial service industry and how you can tap into it, then make much money for yourself and say goodbye to unemployment and extreme poverty.
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Agent banking has been the trend in Nigeria, transforming lives and remodeling businesses, thanks to Central bank of Nigeria for issuing licenses to Fintech companies to distort the financial service market which is ongoing.
The banks in this case have no option than to buy into the market, and position themselves to remain relevant in the industry.
It’s on this note that I wish to introduce “SurPadi” as created by Polaris Bank limited.
SurePadi Agent Banking Explained
Just like Firstmonie agent and their likes, Polaris bank Surepadi agent carries out agency services un-behalf of the bank, though not being employed by the bank, solely as independent business owner.
The agent renders money related services and more like:
- Cash deposit
- Cash withdrawal
- Account opening
- Fund transfer
- Mobile recharge
- Bill payment etc.
To mention just a little, agency banking is taking a serious lead as rural and urban dwellers can now access services they would have ordinarily visit the banks for in their localities and streets.
Who can be a SurPadi agent?
It has never been without rules and requirements, SurePadi as well comes with its preferences for agency onboarding in the following ways:
As a prospective SurePadi agent, you should;
- Have an existing business
- Have been engaged in commercial activities for a minimum of 12 months
- Have good customer patronage, consistent trade activities
- Have a shop, a permanent structure, rented or owned, from which you are expected to operate from
- Be willing to render financial services as defined by the bank, some of which include, account opening, cash withdrawal, cash deposit, funds transfer, mobile recharge, bill payment etc.
- Have enough room within shop premises for additional service
- Have basic understanding of technology and payment processes
- Have clean credit report – at least 12 months preceding the date of on-boarding
- Be willing to make financial commitment to the business.
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How to become a SurePadi agent
Becoming an agent has on-boarding procedures in the following arrangements, having meet the aforementioned requirements above.
A. Prospective agents are expected to approach the closest Polaris bank branch to their business location and declare their interest to be a SurePadi agent.
B. The bank then visits the location of the prospect to carry out an assessment of the shop, as well fills the potential agent verification form (PAV)
C. On approval of the PAV, then an account will be opened for the prospective agent.
Forms required for agent on-boarding
|1||Potential agent verification for(PAV)||This is to provide information on the agent’s existing business including its location, customer footfall, business environment etc. so as to ascertain the agent’s ability for agent banking based on the set criteria|
|2||Agent agreement||This is a legal documents between the agent and the bank specifying the terms and conditions of the partnership|
|3||Agent registration/account opening form||This captures the business and personal details of the agent. The form is required for account opening and set-up on the agent banking platform by the agent banking team.|
Other documents required for individual and registered business
|Approved potential agent verification form||Approved potential agent verification form|
|Executed agent agreement form||Executed agent agreement form|
|Approved agent registration/enrolment form||Approved agent registration/enrolment form|
|Valid means of identification for business owner (s)/signatories||Valid means of identification for business owner (s)/signatories|
|Biometric verification number (BVN) for business owner(s) signatories||Biometric verification number (BVN) for business owner(s) signatories|
|Utility bill||Utility bill|
|Passport photographs||Passport photographs|
|ID card validation page||ID card validation page|
|Tax identification number (TIN)|
|Two references from current account holders|
Approved registered Businesses
- Limited liability companies
- Sole proprietorships
- Cooperative societies
Approved unregistered businesses
- Barbing/hairdressing salons
- Provision shops
- Sport viewing centers
- Business centers etc
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The following entities are exempted from being SurePadi agent
- Polaris bank staff and associates
- Bureau De Change (BDCs)
- Non-governmental organizations
- Faith based institutions
- Not for profit organizations.
Raphael Orji is a freelance writer, professional blogger and a content marketing consultant. I work with small businesses, startups and entrepreneurs in building their brand image with high quality blogging and content marketing strategy.
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