Question 1

What is Prospa and how does it work?

Accepted Answer

Prospa is a digital business banking platform that offers fast account opening, transfers, sub-accounts, transaction categorization, and tools like budgeting and webstore for small businesses. It works by providing a free account setup with monthly allowances of ₦100,000 free inflows and outflows, low fees beyond that, unlimited sub-accounts, and integrations with apps like Quickbooks and Zapier.

Question 2

How much does Prospa cost?

Accepted Answer

Account opening is free with no minimum balance. Members get ₦100,000 free monthly inflows and outflows; beyond that, maintenance fees are ₦3,000 for inflows up to ₦500,000, ₦5,000 up to ₦5 million, and ₦0.85 per ₦1,000 over ₦5 million, with transfers at ₦0.85 kobo per ₦1,000. Upgrade plans for premium features like higher limits and API access are available in-app; POS is 0.5% per transaction, virtual cards ₦1,000.

Question 3

How do I sign up for Prospa?

Accepted Answer

Sign up online at getprospa.com with no paperwork or fees; the process takes 5 minutes.

Question 4

Does Prospa have a mobile app?

Accepted Answer

Yes, Prospa is available on iOS and Android. You can download Prospa on the App Store for iPhone, or get it on Google Play for Android.

Question 5

Who is Prospa best suited for?

Accepted Answer

Prospa is best suited for small business owners and entrepreneurs needing cost-effective banking, transfers, expense tracking, and tools like sub-accounts and budgeting.

Question 6

How do I contact Prospa support?

Accepted Answer

Contact support at help@getprospa.com.

Question 7

Does Prospa have a plan for teams or businesses?

Accepted Answer

Yes, it supports team collaboration for managing payments and features, unlimited businesses from one dashboard, and unlimited sub-accounts.

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