Question 1

How do I create a Cashmatrix account?

Accepted Answer

Download the Cashmatrix app from Google Play Store or Apple App Store. Tap 'Sign Up', enter your phone number, and follow the prompts. You'll need your BVN or NIN to complete registration.

Question 2

What documents do I need?

Accepted Answer

All you need is your Bank Verification Number (BVN). If you don't have a BVN, you can use your National Identification Number (NIN). For higher tier accounts, you'll need a valid ID, passport photograph, and utility bill.

Question 3

What types of accounts are available?

Accepted Answer

Tier 1 (BVN only): ₦50,000 min withdrawal. Tier 2 (BVN + ID + passport): ₦250,000. Tier 3 (BVN + ID + passport + utility bill + signature): ₦500,000, extendable with support.

Question 4

Is my money safe with Cashmatrix?

Accepted Answer

Yes. Cashmatrix is a licensed microfinance bank regulated by the Central Bank of Nigeria. We use bank-level encryption to protect your accounts and transactions.

Question 5

How do I send money?

Accepted Answer

Open the app, tap 'Send Money', enter the recipient's account number or phone number, enter the amount, review the details, and confirm with your PIN or biometric authentication.

Question 6

How do I receive money?

Accepted Answer

Share your Cashmatrix account number with the sender. You can find it on your dashboard. Money sent to your account is credited instantly and you'll receive a notification.

Question 7

How long does a transfer take?

Accepted Answer

Transfers to Cashmatrix accounts are instant. Transfers to other banks complete within 1-5 minutes via NIP. If a transfer takes longer, check your transaction history for status updates.

Question 8

What are the transaction limits?

Accepted Answer

Tier 1: ₦50,000 single, ₦300,000 daily. Tier 2: ₦250,000 single, ₦500,000 daily. Tier 3: ₦500,000 single, ₦5,000,000 daily. Limits can be increased by contacting support.

Question 9

How do I buy airtime?

Accepted Answer

Open the app, tap 'Airtime', select the network provider, enter the phone number, enter the amount, and confirm with your PIN. Airtime is delivered instantly.

Question 10

How do I pay my electricity bill?

Accepted Answer

Go to Bills > Electricity, select your provider (IKEDC, EKEDC, etc.), enter your meter number, choose prepay or postpay, enter the amount, and confirm payment.

Question 11

Can I pay my cable TV subscription?

Accepted Answer

Yes. Go to Bills > Cable TV, select DSTV, GOTV, or Startimes, enter your smartcard/decoder number, choose your package, and confirm payment. Your subscription is activated within minutes.

Question 12

How do I buy data?

Accepted Answer

Go to Data, select the network provider, choose a data plan, enter the phone number, and confirm. Data is delivered instantly to the number.

Question 13

How do I reset my password?

Accepted Answer

On the login screen, tap 'Forgot Password'. Enter your registered phone number, verify with the OTP, and create a new password. If you can't access your phone, contact support.

Question 14

How do I change my PIN?

Accepted Answer

Go to Settings > Security > Change PIN. Enter your current PIN, then enter and confirm your new PIN. You'll receive a confirmation notification.

Question 15

What if my phone is stolen?

Accepted Answer

Immediately call +234 704 648 8013 to lock your account. You can also email hello@cashmatrix.ng. Once locked, no transactions can be made until you verify your identity.

Question 16

How do I enable two-factor authentication?

Accepted Answer

Go to Settings > Security > Two-Factor Authentication. Toggle it on and choose your preferred method (SMS OTP or email). Each login and sensitive transaction will require a verification code.

Question 17

How do I request a debit card?

Accepted Answer

Go to Cards > Request Card. Choose between a classic or premium card. A card issuance fee applies. Your card will be delivered within 7-10 business days.

Question 18

How do I create a virtual card?

Accepted Answer

Go to Cards > Virtual Card > Create New. Set a spending limit, name the card, and confirm with your PIN. Your virtual card details are displayed immediately for online payments.

Question 19

How do I block my card?

Accepted Answer

Go to Cards > Select the card > Block Card. Your card will be immediately deactivated. You can unblock it later or request a replacement.

Question 20

What are the card limits?

Accepted Answer

Classic card: ₦500,000 daily POS/ATM, ₦1,000,000 online. Premium card: ₦2,000,000 daily POS/ATM, ₦5,000,000 online. Limits can be customized in the app.

Question 21

How do I start saving?

Accepted Answer

Go to Savings > Create Goal. Set a target amount, choose a duration, and fund it from your Cashmatrix wallet. You can set up daily, weekly, or monthly auto-debits.

Question 22

What interest rate do I earn?

Accepted Answer

Cashmatrix savings earn up to 15% per annum depending on the plan and duration. Interest is calculated daily and credited at the end of the savings period.

Question 23

Can I withdraw my savings early?

Accepted Answer

You can break your savings before maturity, but a small early withdrawal fee applies and you'll lose the accrued interest for that period.

Question 24

How do I invest?

Accepted Answer

Go to Investments, choose from treasury bills, mutual funds, or fixed deposits. Enter the amount, review the expected returns, and confirm. You'll receive updates on your investment performance.

Question 25

How do I create a business account?

Accepted Answer

Download the app and select 'Business Account' during signup. You'll need your CAC registration number, business address, and a valid ID. Business accounts support higher limits.

Question 26

What documents are required?

Accepted Answer

CAC certificate, business address proof (utility bill or tenancy agreement), valid ID of director(s), and BVN. Sole proprietors and limited companies are both supported.

Question 27

How do I add team members?

Accepted Answer

Go to Business > Team Members > Add Staff. Assign roles (cashier, manager, admin) with different permission levels. Each staff member gets their own login and transaction limits.

Question 28

What are the business account limits?

Accepted Answer

Basic: ₦500,000 daily. Verified: ₦5,000,000 daily. Enterprise: Custom limits upon request. Limits apply to transfers, withdrawals, and POS settlements.

Question 29

How do I request a POS device?

Accepted Answer

Open the app, go to Business > POS Terminal, and tap 'Request POS'. Fill in your business details and delivery address. The device is delivered within 3-5 business days.

Question 30

How do I set up my POS terminal?

Accepted Answer

Power on the device, connect to Wi-Fi or insert a SIM with data, open the Cashmatrix POS app, log in with your business credentials, and follow the setup wizard.

Question 31

Why is my POS not connecting?

Accepted Answer

Check that your SIM has active data or you're connected to Wi-Fi. Restart the device. Go to Settings > Network > Reset Connection. For persistent issues, contact support for a swap.

Question 32

What are the POS charges?

Accepted Answer

Cash withdrawal: 0.5% capped at ₦200. Balance inquiry: ₦20. Fund transfer: ₦10 flat. Charges are deducted from the merchant's wallet automatically after each transaction.

Question 33

How do I send money to a bank?

Accepted Answer

Go to Payouts > Send to Bank. Enter the recipient's bank and account number, enter the amount, and confirm. Funds arrive within minutes via NIP.

Question 34

How do I run bulk payouts?

Accepted Answer

Go to Payouts > Bulk Transfer. Upload a CSV file with recipient details (name, bank, account, amount), review the summary, and confirm. Up to 5,000 recipients per batch.

Question 35

What are the payout limits?

Accepted Answer

Single transfer: ₦5,000,000. Daily: ₦50,000,000. Bulk transfer: ₦100,000,000 per batch. Enterprise accounts can request higher limits.

Question 36

How long do payouts take?

Accepted Answer

Standard payouts complete within 1-5 minutes. Bulk payouts may take up to 30 minutes depending on batch size. All transfers are processed via NIP.

Question 37

How do I generate an invoice?

Accepted Answer

Go to Business > Invoices > Create New. Enter the customer's name, items, amounts, and due date. Send via SMS, email, or a shareable link. Track payment status in real-time.

Question 38

How do I accept online payments?

Accepted Answer

Go to Business > Payment Links. Create a payment link with the amount and description. Share the link via WhatsApp, SMS, or email. The customer pays and you receive instant confirmation.

Question 39

How do I view my revenue?

Accepted Answer

Go to Business > Dashboard. See daily, weekly, and monthly revenue charts, transaction counts, top products, and customer insights. Export reports as CSV or PDF.

Question 40

Can I set up recurring invoices?

Accepted Answer

Yes. Go to Business > Invoices > Create New, toggle on 'Recurring', set the frequency (weekly, monthly, quarterly), and the system auto-generates and sends invoices.

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