MTN Mobile Money Agency Banking
MTN Mobile money is also known as MoMo agent. This is a platform that enable cross-border payment within Africa. It offer its users to send and receive money using their phone.You’ll be able to receive money from another momo user anywhere and also send money to people by depositing money from your bank account to your mobile wallet.
MTN is a carrier or a network provider that operate in more than 21 countries in Africa. It offer wireless connection to people to connect with themselves around the globe. This new work provider giant took steps to upgrade its business by offering mobile money services to it users.MTN Mobile Money enables you to transform your phone into an e-wallet which can be used to send and receive money. In fact, this agency banking offer international transfer using Western Union and World remit. Keep reading, that will be explained in this article.
How does MTN Mobile Money Works?
A network carrier that allow you to receive money to your MTN wallet directly without needing to have a bank account. MTN MoMo is a secure and trusted mobile money company that provide electronic services that enables it wallet holders to store money, send and receive funds and also make payments, all by using their phone for these transactions.MTN Mobile Money works in the sense that money is added directly into your mobile money account via bank deposits, or you receive money from another MTN Mobile Money user. You’ll only need the recipient mobile money number to do the transactions.Once the transaction is completed, the sender and the receiver will get a notification to their registration numbers.
Benefits Of MTN Mobile Money.
Everyone with MTN Mobile Number is eligible for MoMo account. It’s easy to access and it mostly benefit those that are in remote part of the world that doesn’t have a bank.With this mobile money agency, you’ll be able to transfer, settled goods and services and recharging of MTN airtime on your mobile phone.
How is MTN Mobile Money Used?
Below are how you can make use of MTN Mobile Money.
- Top-up your MTN line
- Send money to another MTN user
- Receive and store money in your MTN e-wallet
- Withdraw money from any MoMo agent.
- Pay bills
- Pay for insurance
- Pay for flight, school fees and many more.
Western Union MTN Mobile Money
MTN introduced cross-border mobile money transfer in 21 countries. This features was done by partnering with Western Union.Co to to provide international remittances service in 21 countries across Africa and Middle East.Partnering with Western Union will let MTN Mobile Money users to send and receive Western Union Money Transfers using their MTN MoMo account.MoMo simply means Mobile Money.
The strategy behind the Western Union and MTN agreement is simple: to introduce international remittances as a value-added service to MTN mobile wallets, called MobileMoney accounts, allowing consumers to quickly and conveniently send and receive money transfers globally using just their mobile phones
Said Khalid Fellahi, head of mobile transaction services at Western Union, Englewood, CO.
He further explain that with the fact that Africa is currently a mobile money hotspot in the world and of-courese is also a giant in remittance market. This plus the fact that MTN is a leading operator in Africa make the collaboration a very interesting one for the global remittance ecosystem.
How To Receive International Transfer using Western Union.
The audience is global, which include 386,000 agent location in 200 countries. So of you want to receive money transfer to your MTN Mobile Money from Western Union network, just tell your sender to use any western Union agent available in his area.
World Remit MTN Mobile Money
According to World remit, you’ll be able to receive money from over 50 countries using world remit into your MTN Mobile Money wallet. And only work in these below countries:
- Ivory Coast
- Republic of Guinea
How To Register MTN Mobile Money.
For the MTN Mobile Money registration, all you need is phone and a MTN sim card to register for MoMo account.Follow these below steps to register for MTN Mobile Money account on your phone.Kindly visit any MoMo agent in your location or any MTN walk-in centres in your area, or any GTBank branch closer to you, you will need a mobile money compatible sim card and you will need to fill-in a mobile money registration form.At the registration centre, you will enlightened on the three categories of MTN Mobile Money accounts, each of the accounts has varying transaction threshold and and registration requirements.
Here are the three categories of MTN Mobile Money Accounts.
- MTN Unbanked Mobile Money
- MTN Semi-banked Mobile Money
- MTN Fully-banked Mobile Money
These are the three categories of MTN MoMo account. Now lemme analysis it further.
1. MTN Unbanked Mobile Money
This is the easiest to join, it requires no bank account. The maximum transaction daily is N30,000.
2. MTN Semi-banked Mobile Money
This similar to the Unbanked Mobile Money but with little upgrade. This work like normal savings account and its maximum transaction is N100,000 daily.
3. MTN Fully-banked Mobile Money
This account required similar like Semi-banked Mobile Money account with little upgrade. It work like a normal current account and required similar documents. It has N1,000,000 daily transaction limits.
How to Register MTN Mobile Money Account in Ghana
Registration of mobile money account in Ghana is almost the same way in Nigeria but not the same.To do the registration in Ghana, kindly visit any authorized MTN MoMo merchant With any of your National ID card like ID card that was issued by the government, driver’s license, voter’s card or International Passport.The merchant will help you generate code to your registered sim and when you receive the code on your phone, go to ”My MTN” and select ”Mobile Money”.After that, a page will pop up telling you to select whether to login or register. Select register and enter your ID and number.After that, select a pin and complete the registration. A welcome message will be send to your phone.MTN Mobile Money Merchant Guide will help you register for free in Ghana.
How to send money with mobile money in Ghana
To send money using MTN MoMo in Ghana, kindly follow the below instructions.
- Dial *170# on your mobile phone and follow the screen prompts.
- Then go to your sim menu
- Select money mobile
- Select transfer money
- Select either mobile or mobile money
- Enter your recipient number. (The person you’re sending money to)
- Enter the amount your wish to send
- Input your four digit passcode to complete the transaction.
As a Ghanian, you can receive international transfer to your mobile money account via world remit or Western Union.
How to Register MTN Mobile Money Account in Benin
Opening of Mobile Money Account differs slightly depending whether you are in Nigeria, Zambia, South Africa, Ghana, Cameroon or Benin.
Open Mobile Money In Benin
To open mobile money in Benin, MTN offers two options:1. Go to any MTN MoMo agent with any valid national ID card and register a sim card. The agent will do the necessary steps to help your register you Mobile Money Accounts.2. You can also open your Mobile Money Account by yourself. All you have to do is grab your phone and follow the instructions below:
- Dial *400# and choose 1 (self a registration)
- Input the required details
- And lastly, create your 4 digits passcode to validate your account.
MTN Mobile Money Official Website Registration
You can also register your mobile money account via MTN official website. To do that,
- Visit MTN Mobile Money Official Website.
- Click on register
- Enter your username(phone number) and your preferred passcode
- Receive and enter one time password sent to your phone number
- Create your own password or keep the one generated for you.
- Click continue to complete your account.
MTN Mobile Money Agent Commission Rates
The information you are about to skim, are extracted from the MTN Mobile Money official website. Here are the MoMo Agent Commission Rates:
- Phone-to-phone mobile transfer fees will cost N10 ( maybe you’re transferring to friends or agent)
- Phone to cash transaction fee – 2% fees for N100 floor.
- Cash out from account – 1% fee for N50 floor.
- For sim swap, will cost you price for new sim
- Mini statement of account – N30 per request.
- Check balance – N5
MTN Mobile Money App
The money app allow you to control all your MTN Mobile Money Services such as ;You can use MTN MoMo app to access your mobile money account and also check your MTN Mobile Money Account Balance.Mobile Money Pay can also be manage on the MTN Money App.MTN Mobile Money App is available at Google play store. Download here.
FAQs on MTN Mobile Money
Here are some questions people ask about mobile money:
Where can I find MTN MoMo customers service?
You can find customers service in MTN local agency or any MTN MoMo registered merchant.
How to withdraw money from MTN Mobile Money
You can cash out your money from your MoMo wallet at any ATM center and pay directly with MoMo pay.
MTN Mobile Money Code
These are 4 digits passcode you generate to secure your MoMo account from any unauthorised access or attacks.
How can I check my MTN Mobile Money Balance
There are many ways to check your mobile money balance. One of it is through dialing of code on your registered sim. But the best to check balance is through MTN Mobile Money App.
Which countries does MTN Mobile Money Works?
MTN Mobile Money is s available in these countries: Nigeria, Ghana, South Africa, Zambia, Cameroon, Kenya, Ivory coast, Benin, Uganda, Republic of Guinea, Rwanda, Library, and Togo.CONCLUSION – MTN MoMo is a very easy mobile money company that offer seamless money transfer across Africa. It also allow its user to receive international transfer to their MoMo wallet.Visit any MoMo agent for registration of account to enjoy the benefit provided by this financial company.