Pricing
Simple & clear pricing. No hidden fees.
Fixed Virtual Accounts
Account creation
Generate an account number and instantly issue/assign it to a customer.
Free
Transfers in
Accept deposits from commercial banks and FinTech products into your virtual account.
Free
Account maintenance fees
Free
Generate account statement
Free
KYC documentation
Verify your customers’ personal details to generate virtual accounts and cards for them.
NGN 50 per verification
Important to note:
- In compliance with CBN regulation, a stamp duty of ₦50.00 is charged to the customer (owner of the virtual account) on every deposit (Transfers In) over ₦10,000.00.
- Transfers between virtual accounts created with Bloc is free, regardless of the amount.
Collection Accounts
Account creation
Generate an virtual account dedicated to receiving payments via bank transfer
Free
Transaction fees
This is how much we charge for every amount received via a Collection Account
1% per transaction (capped at NGN 250)
Account maintenance fees
Free
Transfers
Outward transfers (NGN 5,000 and below)
NGN 10
Outward transfers (between NGN 5,001 and NGN 50,000)
NGN 20
Outward transfers (above NGN 50,000)
NGN 45
Important to note:
Custom pricing will be made available to businesses with large-volume or high-value transactions. Contact help@blochq.io to discuss with our Sales team.
Checkout
Using Shared Providers
Shared Providers allow you to accept payments with any method/provider without the need to connect an external account.
NGN 30 plus provider fees
Connecting your provider account
Connect all your provider accounts on Bloc and start accepting payments with our Checkout
NGN 25 per transaction
NGN 5 for transactions below NGN 2,500
Payment Links
Create a self-hosted payment page without a single line of code.
Free
NGN Virtual Cards
Virtual card issuance
Instantly create and issue virtual prepaid cards to your customers.
NGN 50 per card
Transaction and authorization fees
How much it costs when a virtual card is used in an online transaction.
NGN 7.50 per transaction
Card funding
Instantly top up your cards from your account.
Free
Monthly card maintenance
This is charged per month
NGN 25.00 per card
Disputes/chargeback handling
This is how much we charge when resolving a dispute and chargeback issue for your business.
NGN 150 per issue
USD Virtual Cards
Virtual card issuance
Instantly create and issue virtual prepaid cards to your customers.
$1.00
Transaction and authorization fees
How much it costs when a virtual card is used in an online transaction.
Free
Card funding
Instantly top up your cards from your account.
1.5% + $1.00
Monthly card maintenance
This is charged per month
Free
Disputes/chargeback handling
This is how much we charge when resolving a dispute and chargeback issue for your business.
$50 per issue
Bills Payment
You don’t pay us anything to use our Bills Payment product. Instead, we pay you a percentage commission for every successful transaction performed by your business on Bloc. The percentage below outlines how much we pay you per transaction.
EEDC — Non MD
3% (capped at NGN 3,000)
EEDC — MD
0.7% (capped at NGN 2,000)
APLE — Non MD
2.6% (capped at NGN 3,000)
APLE — MD
0.7% (capped at NGN 2,000)
JEDC - CEL
1.7%
JEDC - AES
1.7%
EKEDC
1.7% (capped at NGN 1,500)
AEDC
1.5% (capped at NGN 1,000)
IBEDC
0.6%
IKEDC
0.8%
KEDCO — Non MD
1.7%
KEDCO — MD
0.7%
KAEDC
1.2%
DSTV & GOTV
2.2%
StarTimes
2.2%
MTN
2.5%
Airtel
2.5%
9Mobile
2.5%
GLO
2.5%
Important to note:
- MD means Maximum Demand, and it refers industrial power consumption by large companies/factories. Non-MD means Non Maximum Demand, and it refers to regular household power consumption.
FAQs
1. How do I make payment?
Every business that signs up on Bloc gets a Banc Corp MFB account number to display their balance for all their transactions and operations within the Bloc ecosystem. Our fees will be charged directly to this balance.
2. What happens when I have no funds available?
If there are no funds available, your transactions will fail and you/your customers will not be able to perform any activity that has a transaction fee.
3. How fast will I get paid my Bills Payment commission?
We pay you instantly into your Main Balance. You can also see an overview of your commissions on the Bills Payment page
4. Who pays the CBN stamp duty?
Your customer does. We automatically debit the customer’s virtual account when they receive deposits over NGN 10,000 in compliance with CBN regulation.
5. How much does it cost to integrate Bloc?
It is 100% free to integrate Bloc into your products and application. Get started here.
6. Do you offer discounts on your transaction fees?
Yes, we do for businesses with high transaction volumes. Contact us at help@blochq.io to discuss with the Sales team.
Ready to get started?
Create a free account and start innovating with FinTech.