.png){kind=small}
Moniepoint account or card that is restricted is placed on Post No Debit (PND), a type of restriction that's placed on a bank account for the purpose of locking the account from withdrawals, transfers, or payments. The limitation only allows incoming funds. Even if you want to use card to withdraw from the ATM or POS, it'll be restricted.
PND often occurs due to regulatory issues like missing BVN or NIN, suspicious activity (such as fraud, terrorism financing, e.t.c.), or compliance checks. Another thing that can put your account on PND is if you exceed transaction limits for the day or month. If your Moniepoint account and card are restricted or placed on PND, then you're required to contact the bank to resolve the issues.
In a situation like this, you can contact Moniepoint support team via their official channels like Live Chat via the fintech app, email, or phone number on +2342018889990 or +23416316270. On the other hand, if you're a POS agent, the best option is to contact your Business Relationship Manager (BRM) to make the resolution fast and easy.
However, it's important to note that you may be required to provide details about the account and may need to verify your identity with a valid ID, BVN, or utility bill. If your account is placed on PND because of suspension transactions, you may need to provide proof to confirm the transaction is legit. Required details in this situation could include a receipt or a deed of the business.
If the restriction is related to fraud, you'll need to cooperate fully with the investigation process. Once the issue is resolved, the restriction will be lifted. Meanwhile, to avoid account restrictions due to transaction or account limit issues, ensure your KYC is upgraded to Level 3 by providing accurate and necessary documentation and information for KYC approval. This will remove transaction limits and prevent further restrictions.
However, there are still many reasons your Moniepoint account is placed on PND. According to Moniepoint, the reasons are not limited to: scheme rule violation, stolen phone or terminal, fraudulent inflow and outflow of funds, restriction placed by BRM due to terminal Issue or target issue, erroneous transaction, crypto transactions, regulatory block, details used to create an unauthorised account, delayed refund due to business owner's non-compliance with the refund process, and fraud complaint from impersonation via hacked social accounts.
In conclusion: A PND on a Moniepoint account is a restriction that blocks all outgoing transactions while still allowing deposits. This restriction is usually triggered when Moniepoint system detects fraud risks, compliance issues, or suspicious activity. However, to remove the restriction, the account owner must cooperate with Moniepoint by providing the necessary documents, proving identity, or resolving any compliance or technical issues.
