In this article, we will discuss how to operate a Firstmonie account and link it to your betting account, as well as three of the best betting sites to use with this payment agent. You will also find the advantages and disadvantages of using Firstmonie, alternative payment agents, and frequently asked questions about Firstmonie as a payment option.
What's in this article
- Top Firstmonie Betting Sites in Nigeria
- How to Fund Your Betting Accounts Using Firstmonie
- How to Deposit into Bet9ja using Firstmonie
- How to Deposit into NaijaBet using Firstmonie Via First Bank
- How to Deposit into Betfarm using Firstmonie Via First Bank
- Can I Deposit Using a Firstmonie Agent?
- Differences between a Firstmonie Agent and the Firstmonie Application
- Advantages of using Firstmonie
- Disadvantages of Firstmonie
- Alternatives to Firstmonie
- Firstmonie FAQs
- Final Word
Best Betting Sites with Firstmonie
Top Firstmonie Betting Sites in Nigeria
How to Fund Your Betting Accounts Using Firstmonie
Nigeria Betting sites and players prefer using Firstmonie, not just because it is powered by one of the biggest banks in Nigeria, First Bank of Nigeria, but also because it is fast, reliable, and withdrawal is instant. Additional benefits derived from using this payment option include the numerous scintillating services, offers, and bonuses that are enjoyed by customers.
As mentioned earlier, Firstmonie is fast and reliable; consequently, funding or depositing money into your betting accounts is quite easy. The first step is to download the Firstmonie application from the Google app store for Android users, and if you use iOS, download it from the app store. Other instructions to follow depend on the settings of each betting site, and to make things easier, we will provide instructions for three of them – Bet9ja, Betfarm and NaijaBet.
How to Deposit into Bet9ja using Firstmonie
Funding your Bet9ja account via the Firstmonie app is quite easy, and can be done through the following steps:
- Log in to your Firstmonie app by entering the five digits PIN you created while registering the account.
- Once in, click on ‘Bet9ja & Lotto’ to deposit into your bet account.
- While creating your Bet9ja account, you should have been given a unique user identification code. Input this code in the space made available for it.
- Next, select the source of funding that is suitable for you. This could be your First Bank account, debit card, or e-wallet.
- Enter the amount you would like to deposit, then click continue.
- To conclude the transaction, enter the transaction pin you use for all electronic First Bank transactions. This serves as a final confirmation for the transaction.
How to Deposit into NaijaBet using Firstmonie Via First Bank
Funding your NaijaBet account using a First Bank account is a pretty simple process. Follow the below steps and you will have no issues at all:
- Make sure you are using the phone number you registered with NaijaBet. This process of funding your NaijaBet account will be done using a USSD code, and that of First Bank is *894#. Therefore, start by dialing *894*894025438*AMOUNT#. Please note that your user ID is also your NaijaBet username.
- Select First Bank from the drop-down list. Afterwards, choose the account you wish to be debited from, in case you have multiple accounts with First Bank.
- As registered on your First Bank account, you will need to provide your date of birth; this is required for a first-time user of Mcash.
- The system will require you to create a secret pin that will be used to carry out subsequent transactions. Upon successful completion of the transaction, a “payment successful” receipt will be displayed on the screen, and the amount debited on your bank account will be credited to your NaijaBet account.
How to Deposit into Betfarm using Firstmonie Via First Bank
The process of funding your Betfarm account using your First bank account is similar to that of NaijaBet, and it also consists of 4 steps:
- Click on your player icon and click on ‘Deposit‘ (it is the second item on that list).
- This takes you to a page where you will find ‘deposits methods.' On this page, pick ‘Instant Bank Transfer’ – it’s the second option under deposit methods.
- Doing the above brings up a green bar labeled ‘Submit,' still on the instant bank transfer page. Click on this bar to continue with your transaction.
- A new page will appear that will require you to enter your transaction details, such as your bank (which in this case will be First Bank of Nigeria), your account name, and your account number.
- Make a bank transfer to the account number displayed (that of Betfarm), and your Betfarm account will be funded instantly. For subsequent funding of your betting account, make a transfer to this same account number. You can store this account number as a beneficiary on your bank app to make things easier.
Depositing into your betting account is both fast and straightforward, and can be done simply with your Firstmonie or First Bank accounts.
Can I Deposit Using a Firstmonie Agent?
There are various transaction agents outside the bank that are registered and certified to serve as retail transaction agents with Firstmonie. So, can they serve the same purpose that the Firstmonie app does? Can I fund my betting accounts with these agents? The answer to these questions is a resounding YES! Retail transaction agents, including Firstmonie agents, can also serve the purpose of depositing money into your betting accounts.
To make a transaction, just walk up to any Firstmonie agent in your vicinity and take the following steps:
- Request to fund your betting account.
- Pay the amount you would like to fund your betting account with, including the applicable charges.
- Obtain proof of transaction, which is, in most cases, a receipt or teller.
- Check your betting account to verify and finalise your transaction.
Differences between a Firstmonie Agent and the Firstmonie Application
For the sake of clarity, we have outlined significant differences between transacting with the Firstmonie app and an agent, along with their strengths and limitations.
- The application is the software used to transact money across board, and it can be used on both Android and iOS devices. A Firstmonie agent is a person, a retailer that offers electronic transaction services to people as an independent entity.
- To conduct transactions using the app, you must own and operate a First Bank account through which you can send or receive money. On the other hand, you can patronize a Firstmonie agent and carry out transactions even if you do not have a First Bank account. You can also enjoy services provided by First Bank, even if this comes with additional charges.
- When using the Firstmonie app, you are required to pay a service charge – this is minimal to the value of the transaction you are carrying out. However, a Firstmonie agent charges for their services, which varies with the kind of operation that you require, and this would still include the service charge levied by the bank.
- Firstmonie agents act as ‘human ATMs.' This means you can withdraw money from your account through them; all you have to do is transfer the amount you would like to withdraw, and you will be given said amount in cash. The Firstmonie app can’t perform this feature – you can only transfer from your e-wallet to your bank account, after which you need to find the nearest ATM where you may withdraw cash.
- A significant difference between a Firstmonie app and a Firstmonie agent is the use of a Point of Sale (POS) machine. An agent uses the POS machine as his/her primary tool for transactions and uses it to print out evidence of transactions. On the other hand, if you have the Firstmonie app, you do not need a POS to carry out personal transactions. All your dealings can be carried out on the app itself.
- Usually, Firstmonie agents have a physical place where they carry out their service and business – usually a shop or a make-shift kiosk. The Firstmonie app makes its services mobile, and you can carry out your transactions anywhere and anytime.
Advantages of using Firstmonie
- The Firstmonie application and agents offer a variety of services, including bill payments and airtime purchases, among others.
- Firstmonie saves time that would otherwise be spent on ATM queues and visiting banks.
- It provides direct access to customers for the product that will satisfy their needs.
- Allows for quick access to “Human Automated Teller Machines (ATMs).”
Disadvantages of Firstmonie
Just like every other system, Firstmonie has its drawbacks. These include:
- Glitches can occur in its operating system, along with delayed transactions and multiple debits of just one transaction.
- Network problems can also slow down the functionality of the app.
These problems can be solved with little or no effort; hence, there is no cause for alarm. However, the above disadvantages do not undermine the efficacy of the Firstmonie mobile app, and it is an optimal method for electronic transactions, especially sports betting.
Alternatives to Firstmonie
If you have reservations about funding your bet account with Firstmonie, there are several great alternatives for you to consider. Some of these financial platforms include:
PayPal is arguably the most popular e-wallet service out there, and it provides quick and safe online financial transactions of all kinds. Due to the security of its financial transactions, PayPal has grown to become a common name in the betting industry in recent years. Users can link their PayPal and bet accounts to make cash deposits and withdraw earnings.
However, PayPal in Nigeria comes with a lot of restrictions, with users not being able to receive cash payments. As a result of this, only a few bet companies in Nigeria accept PayPal as a means of funding or making withdrawals.
Quickteller is another payment provider with which you can fund your bet accounts in Nigeria. It is available on the majority of Nigerian betting sites, and also offers the same services as PayPal, thereby making it a great alternative.
You can deposit cash in your bet account via Quickteller mobile app, and the transaction is instant. However, you will be charged a transaction fee when funding your bet account with Quickteller.
Another way of funding your bet account via Quickteller is through an ATM deposit. All you need do is visit a Quickteller-enabled ATM, insert your card, click on ‘pay bills,' and enter the merchant ID. Afterward, you need to input the amount you wish to deposit, along with your customer ID. Transactions performed using this method are usually fast and reflect on your bet account within minutes.
Skrill is a popular e-commerce platform that enables users to make payments and cash transfers via the internet. Bookies worldwide accept Skrill as a form of payment, and Nigerian bookmakers are not left behind. With a Nigerian Skrill account, you can make secure deposits into your bet account and receive instant payments. Even better is the fact that deposits made into your bet account via your Skrill e-wallet are free, with no additional charges incurred.
Paystack is an evolving technology company that provides solutions for problems involving payments for their clients. Several Nigerian bookies such as LionsBet adopt Paystack as a means of making payments, and you can instantly fund your account using this method on the bookmaker’s platform.
Interswitch is an Africa-based company that focuses on electronic payments and digital commerce solutions, facilitating the electronic circulation of money. Interswitch in Nigeria provides users with several payment options such as Verve, Webpay, and Quickteller. Bettors can also make secure deposits into their bet accounts via the Interswitch platform, with bookies such as Nairabet integrating that feature into their platform.
What is Firstmonie?
Firstmonie is a mobile payment service that enables users to send and receive money, pay bills, buy airtime, and lots more with their phones without necessarily visiting the bank. It can also be used to fund other accounts, such as betting accounts.
How can I deposit into my betting account using Firstmonie?
To fund your betting account with Firstmonie, all you have to do is follow these steps:
- Open the Firstmonie app and log in.
- Select ‘lotto’ to deposit and click on your betting service agent.
- Enter your betting ID and choose where you want your money to be withdrawn from.
- Input the amount you would like to deposit and click continue.
- Click ‘send.'
- Enter your confirmation pin to conclude your transaction.
What is the minimum deposit I can make using Firstmonie for my betting account?
The minimum amount for a deposit on Firstmonie is one hundred naira (#100).
What is the maximum deposit on Firstmonie for my betting account?
The maximum amount for deposit varies from one betting site/bookmaker to another. They are ultimately the ones that can decide the extent to which you can deposit.
Can I withdraw using Firstmonie?
You can withdraw cash from your Firstmonie account, and you can do this in two main ways:
- Visit the nearest Firstmonie agent and request to withdraw using Firstmonie. Transfer funds from your Firstmonie wallet into the agent’s account and collect the cash equivalent.
- Simply transfer to your bank account and then withdraw using the nearest ATM to obtain your cash.
How soon will my deposits reflect in my betting account when I use Firstmonie?
As soon as you deposit into your betting account via the Firstmonie platform, your funds should show up immediately. Firstmonie is fast and reliable.
Firstmonie is an excellent choice when it comes to funding your betting account. Many users have found it to be quick, reliable and easy to use. Even better, First Bank of Nigeria is a highly trusted parent-name; hence you can feel secure entrusting this brand with your money. You can fund your Bet9ja directly using Firstmonie, and for other betting sites such as Naija Bet and Betfarm, you have the option to fund via First Bank.