Send and receive money with MTN mobile money transfer
MTN mobile money – The Nigeria’s mobile Telecommunication giant (MTN) has further improvised on how to better the lives of Nigerians and Africans in availing a medium through which money can be transferred just like Vodafone had capitalized on M-Pesa in Kenya and other African countries.
Be that as it may, it becomes necessary to appreciate the contributions of this parent network provider, not only on voice and data, but as well striving to reach the many unbanked in the Nigerian financial sector, which as well promotes financial inclusion.
What is Mobile Money
This is a rapid, convenient, simple, secured but yet an affordable means of transferring money, settling for goods and services, loading recharge card through the use of MTN enabled SIM mobile phones from the comfort of your location.
It then stands to say that as much as the banks are developing and harnessing money transfer platforms for easy banking, MTN as a network provider through which these customers perform bank transactions is as well in the business of making life easier, not too difficult to see.
It’s necessary to understand that mobile Money is in conjunction with Guarantee Trust Bank (GTBank).
Who can use this MTN Mobile Money?
With the mobile Money, you transform your mobile phone into an e-wallet account. Any MTN subscriber with a Mobile Money compatible SIM can open an e-wallet account on their mobile phones.
How do I Register for Mobile Money on my phone
For registration of the mobile money in Nigeria, kindly visit any MTN Money agent in your location or visit GTBank Branch Offices or MTN Walk in Centers in town, on arrival you will be communicated on the below requirements for Mobile Money registration.
- You will require a mobile money compatible SIM Card, in case your SIM is not mobile money compatible, you may purchase a compatible SIM at the agent location, additionally, If you wished to retain your current SIM for mobile money, then it has to be swapped.
- You will complete a mobile money registration form
In view of this, it’s noteworthy to reiterate that there are three categories of MTN Money accounts, each of the accounts has varying transaction threshold and registration requirements, namely:
- MTN unbanked Mobile Money
- MTN Semi-Banked Mobile Money
- MTN fully Banked Mobile Money
You may also like: How to use Safaricom M-Pesa for money transfer within and outside Kenya
MTN unbanked Mobile Money:This is about the easiest of the three classes of accounts, it has minimal documentation requirements as well does not require a bank account to consummate transactions.
It however has a transaction threshold of N30,000 limit per day in tranches of N3000 each. This simply suggests that, you can carry out transactions 10 times a day within the limits of N3k
MTN Semi Banked Mobile Money: This is next in line, with a N10,000 maximum per transaction and N100,000 daily maximum limits.
The documentation is just equivalent to opening a savings bank account.
MTN Fully Banked Mobile Money: The documentation for this account is a current account documentation with references in place. It has N100,000 maximum transaction per time and N1,000,000 daily limit.
Funding your MTN Money Account
You can fund your mobile money account by purchasing and loading a Mobile Money scratch card.
Note: The mobile money recharge card is not same as the normal or usual recharge card, just for the record. Additionally, your mobile money account is protected by a 4 digit PIN created while registering for your account. This PIN is a security measure to keep your transactions and account safe while doing transfers.
This card can be purchased from a mobile money agent, GTBank branches or MTN Walk in Centers.
How to Register for Mobile Money in Ghana
To own mobile money in Ghana, kindly follow the below steps
- Visit any MTN money authorized merchant with any of the following identity cards, Voter ID, Drivers’ license or international Passport
- The merchant captures your personal details and gives you a mobile money SIM Card
- Insert the Mobile money SIM in your phone, you’ll receive an SMS asking you to register
- Go to my “My MTN” on your phone and select “Mobile Money”
- Then select register, enter your ID type and number
- Select the repeat mobile money PIN which should be 4 digit
- You will receive a welcome message on your phone, that’s all.
How to send money with Mobile Money in Ghana
You may also like: Mukuru money transfer: Learn how to send and receive money in Africa
Kindly follow the under listed steps
- From your mobile phone, dial *170#, reply with 1 and follow the screen prompts
- Go to your SIM menu
- Select Mobile Money
- Select transfer Money
- Select either mobile or mobile user
- Enter your should be recipient’s number
- Enter amount you wish to transfer
- Enter your 4 digits Mobile MoneY PIN to complete your transaction, that’s it.
FAQ on Mobile Money
MTN Money Code
This is the 4 digit numbers you created while registering for you mobile money account, this code is made to serve as a security measure, to safe guard your account against unauthorized access, which as well protects your transfers.
Generate Mobile Money Token in Ghana
Subscribers are expected to dial *511# on their mobile phones, then follow the screen prompt to generate a token which they in turn use for withdrawal at an ATM point.
This is strictly for Ecobank customers.
The token can be used to withdraw money from any Ecobank ATM in Ghana, however, each token generated can only be used once.
Send MTN Money to Ghana
You can actually send mobile money to Ghana via world remit, to achieve this you will have to:
- Check that your recipient in Ghana has a Mobile Money account
- You will have to collect the recipients Mobile Money number
From your Mobile Money account:
- Choose Mobile Money transfer
- Select Mobile Money as the “payout network”
- Select the currency and the amount you want to send.
- Once the transfer is completed, both the recipient and your self will receive confirmation.
MTN Mobile Money is seamless and very easy, visit an agent today to enroll and enjoy the benefit this financial service offers.
Raphael Orji is a freelance writer, professional blogger and a content marketing consultant. I work with small businesses, startups and entrepreneurs in building their brand image with high quality blogging and content marketing strategy.
In need of highly purposeful driven articles that will resonate with your audience,
Want this kind of article that engages, converts and compels your readers to buy from you,
If you want search Engines like Google, Bing and Yahoo to send and open the floodgates of readers to your website/blog on daily basis,
Want to rank your website/blog
Head over to my Hire Me page and see which of my services you’d like to have.