Getting started

What should I set up first?

Your setup guide lists three steps. It ticks each one off as you finish it. Setup guide, 1 of 3 steps done 1. Add a property. Everything in Roofteller is organised by property, from accounts to rent to your books. 2. Set up a banking account. Apply once, and after you're verified you can open as many accounts as you need. Each account can be linked to a property. 3. Invite a teammate. Bring in a business partner, property manager or bookkeeper, each with their own login. Team access is part of Pro. Two optional steps sit below these: - Import your transactions from a CSV, so your books and reports start with your full history. - Download the Roofteller mobile app to check balances, send money and capture receipts from your phone. You'll find the setup guide in your sidebar. Once you've added a property and your banking is done, you can hide it with Hide setup guide. Related: What do I need to verify my identity? · Essential vs Pro: what's included?

Key terms in Roofteller

These six terms come up everywhere in Roofteller. - Portfolio. Everything you manage in Roofteller: properties, accounts, books and team. If someone invites you to their portfolio, you can switch between portfolios from your profile menu. - Entity. Who an account belongs to. That's you as an individual, or a business you own. Each entity is verified once. - Operating account. An account for everyday money in and out, with no withdrawal limit. - Interest account. An account that earns interest on its balance. Interest builds up daily and is paid on the first of every month. You can make up to 4 withdrawals from an interest account each month. If you make more than 4, you don't earn interest for that month. - Property. A building or piece of real estate you own or manage. Link accounts, rent and transactions to it to see how each property performs. - Unit. A rentable space within a property, such as a flat in a block. A property can have one unit or many. Related: How do I open an account? · How do I add a property and its units?

What's free, and what do I pay for?

Most of Roofteller costs nothing. You pay a small fee when you send money to another bank, and you pay for Pro if you choose it. | What | Cost | | --- | --- | | Opening an account | ₦0 | | Monthly account maintenance | ₦0 | | Minimum balance | ₦0 | | Receiving money | ₦0 | | Moving money between your own accounts | ₦0 | | Sending money, up to ₦99,999 | ₦25 | | Sending money, ₦100,000 and above | ₦50 | | Stamp duty, on transfers of ₦10,000 and above | ₦50 | | A tenant paying rent | ₦0 | | Pro plan | ₦150,000 a year plus 7.5% VAT | Stamp duty is a government levy on electronic transfers. It's collected by the bank, not by Roofteller. You'll see the fee and any stamp duty before you confirm a transfer. Related: Essential vs Pro: what's included? · How do I send money?

How is my money kept safe?

Your money is held with a licensed partner, not by Roofteller. Roofteller is a financial technology company and is not a bank. Operating and Interest accounts are provided by PocketApp Global Limited (Piggyvest Business), licensed by the Central Bank of Nigeria (CBN). Roofteller does not hold customer funds. Money can only leave your accounts when you approve it: - Transaction PIN. Every transfer to another bank needs your 4-digit PIN. After 5 wrong attempts, the PIN locks for 15 minutes. - Face ID or fingerprint. On the mobile app, you can approve transfers with biometrics instead of your PIN. - Team roles. Only the owner and business partners can move money. Property managers and bookkeepers can't. - Sign-in codes. There's no password to steal. Each sign-in uses a fresh code sent to your email. The details you give when you apply for an account are encrypted, and they're used only for your banking application. Related: How do I set or change my Transaction PIN? · Why do you need my BVN and NIN?