Mono Sweep Overview
Last updated September 11th, 2026
Overview
Mono Sweep is a money-sweeping API that enables lenders and financial institutions to collect customer funds across all their bank accounts through a single mandate setup.
Instead of creating a separate mandate for each account a customer holds, Mono Sweep links every bank account tied to the customer's BVN to one mandate. When it's time to collect, Mono attempts the debit on the primary account and automatically falls back to approved linked accounts with sufficient balances.
When to use it
Loan repayment: Recover outstanding loan installments from borrowers who spread funds across multiple bank accounts.
Asset financing: Collect scheduled payments for financed assets without re-collecting account details at each cycle.
Recurring collections: Collect subscription, BNPL, or other recurring payments while reducing failed-debit rates.
Prerequisites
To get started, you need to:
- Sign up on the Partner Dashboard and complete KYB.
- Create a
paymentsapp and retrieve your Secret key. - Configure a webhook URL in your dashboard to receive event notifications (you can use webhook.site for testing).
- Ensure your wallet can cover setup fees. See how to fund your wallet.
How it works
When you initiate a sweep mandate, your customer authorizes it through the Mono mandate widget and links the bank accounts tied to their BVN. Once the mandate is ready to debit, Mono attempts the debit on the primary account first and falls back to approved linked accounts when the primary balance is insufficient. You then collect funds either on your schedule (variable) or automatically on a preset schedule (fixed).
A detailed walkthrough of each stage is available in the integration guide.
Fixed vs Variable Mono Sweep
| Fixed Mono Sweep | Variable Mono Sweep | |
| Who triggers debits | Mono, automatically | You, via the Debit Account API |
| Scheduling | Set at mandate initiation | On your schedule |
| Best for | Consistent, schedule-based collections | Collections triggered by events (e.g., loan repayment) |
| Learn more | Mandate setup (fixed) | Mandate setup (variable) |
Linked account limit & fee bearer
By default, sweep mandates are created against all bank accounts linked to the customer's BVN. You can cap this with max_linked_accounts (minimum 3, excludes the primary account) at mandate initiation or on the dashboard. Passing transaction fees to the customer (fee_bearer: customer) is available based on request.
Setup and transaction costs
| Component | Cost |
| Setup fee | NGN 500 per Mono Sweep setup |
| Activation fee | NGN 100 per account linked to BVN |
| Debit fee (NGN 200 – NGN 20,000) | NGN 55 |
| Debit fee (above NGN 20,000) | 1% of the debit, capped at NGN 1,000 |