MTN Mobile Money, or MoMo, is one of the easiest ways to send, receive, and store money in Ghana. Whether you’re paying for groceries, sending money to family, or withdrawing cash, MoMo makes it simple. But with every service, there are costs involved. In this guide, we’ll break down all the fees you might encounter when using MTN MoMo—no complicated jargon, just clear, useful info.
1. Depositing Money: It’s Free!
Good news! You don’t pay anything to deposit money into your MTN Mobile Money wallet. Whether you add GHS 1 or GHS 10,000, it’s completely free.
2. Withdrawing Money: What’s the Cost?
While putting money into your MTN Mobile Money wallet is free, taking it out isn’t. Here’s a simple table showing how much you’ll pay when you withdraw cash:
| Amount (GHS) | Withdrawal Fee |
|---|---|
| 50 and below | GHS 0.50 |
| 51 – 1,999 | 1% of the amount |
| 2,000 and above | GHS 20 |
So, if you withdraw GHS 500, you’ll pay 1%, which is GHS 5.
3. Transferring Money: What’s the Charge?
Sending money from your MoMo wallet to another wallet—whether it’s MTN or another network—comes with a fee. Let’s break it down.
MTN to MTN Transfers
| Amount (GHS) | Transfer Fee |
| 0.01 – 100 | Free |
| 101 – 999 | 0.75% of the amount |
| 1,000 and above | GHS 7.5 |
MTN to Other Networks (Telecel, AT, etc.)
| Amount (GHS) | Transfer Fee |
| 0.01 – 1000 | 0.75% of the amount |
| Above 1,000 | GHS 7.5 |
So, if you send GHS 500 from your MTN Mobile Money wallet to a Telecel user, you’ll pay 0.75%, which is GHS 3.75.
4. Bank Transfers: Free or Not?
If your MoMo number is linked to your Ghana Card and your bank account, transferring money to and from your bank is completely free. If not, here’s what you’ll pay:
| Amount (GHS) | Bank Transfer Fee |
| 0.01 – 50 | GHS 0.38 |
| 50 – 1,000 | 0.75% of the amount |
| Above 1,000 | GHS 7.5 |
5. Bill Payments: No Extra Fees
Using MTN Mobile Money to pay for electricity, water, school fees, or TV subscriptions? That’s free! You won’t pay extra for making bill payments.
6. Transaction Reversals: Also Free!
If you send money to the wrong number by mistake, don’t panic. You can request a reversal, and it won’t cost you anything. Just make sure to report the issue quickly.
7. E-Levy: A Government Tax on Transfers
The Ghanaian government charges an Electronic Levy (E-Levy) on some MoMo transactions. Here’s how it works:
| Amount (GHS) | E-Levy Charge |
| Up to 100 | No Charge |
| Above 100 | 1% of the amount |
For example, if you transfer GHS 200, the E-Levy charge is GHS 2 (1% of 100, since the first GHS 100 is free).
8. MTN Mobile Money Limits: How Much Can You Hold or Send?
Depending on the type of MoMo account you have, there are limits on how much money you can store and send daily.
Maximum Account Balance
| Account Type | Old Limit (GHS) | New Limit (GHS) |
| Minimum KYC | 3,000 | 5,000 |
| Medium KYC | 25,000 | 40,000 |
| Enhanced KYC | 50,000 | 75,000 |
Daily Transaction Limit
| Account Type | Old Limit (GHS) | New Limit (GHS) |
| Minimum KYC | 2,000 | 3,000 |
| Medium KYC | 10,000 | 15,000 |
| Enhanced KYC | 15,000 | 25,000 |
Monthly Transaction Limit
| Account Type | Old Limit (GHS) | New Limit (GHS) |
| Minimum KYC | 6,000 | 10,000 |
| Medium KYC | Unlimited | Unlimited |
| Enhanced KYC | Unlimited | Unlimited |
If you want higher limits, you can upgrade your account by providing additional details like your Ghana Card, proof of address, and next of kin information.
9. MTN MoMo Agent Commissions
MTN Mobile Money agents earn commissions whenever customers withdraw money. Here’s how much they make:
| Amount (GHS) | Old Commission | New Commission |
| 50 and below | GHS 0.20 | GHS 0.20 |
| 51 – 999 | 0.4% of amount | 0.4% of amount |
| 1,000 – 1,999 | GHS 4 | 0.4% of amount |
| 2,000 and above | GHS 4 | GHS 8 |
10. How Much Does MTN Charge to Withdraw GHS 10,000?
If you withdraw GHS 10,000 from your MoMo wallet, MTN charges GHS 20. However, some agents may ask for extra fees before processing large withdrawals.
MTN Mobile Money is a great tool for handling money easily, but understanding the charges helps you avoid surprises. Keep these fees in mind so you can save money and make the best use of your MoMo wallet. Whether you’re sending cash, paying bills, or withdrawing funds, knowing what to expect makes all the difference.
Want to get started with MTN MoMo? Check out our guide on how to register and set up your MoMo account hassle-free!
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