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MTN Cameroun: Mobile Money Charges in 2020

MTN Cameroun

Image by MTN Cameroun [Twitter]

MTN Group established MTN Cameroun in 2000. Since then, the telco had about eight million subscribers as of 31 December 2018. This guide will explore the mobile money business of MTN Cameroun with a focus on the charges.

MTN Cameroun

MTN Cameroun provides voice, data, and mobile money services. Also, the company provides businesses with solutions like cloud, IoT, internet, VPN, bulk SMS, and professional emails.

In 2017, MTN Cameroun’s growth was affected by the conflict in the Northwest/Southwest regions of the country. However, in 2018, the company resumed positive growth. The growth trend continued into 2019 where the company recorded an increase in data and fintech subscribers.

The telecom company had a market share of 47.20 percent in Cameroun by the end of 2018.

MTN Mobile Money Cameroun

MTN launched mobile money in Cameroun in 2010. The service enables Cameroonians to send and receive money, pay for goods and services, pay their bills, buy MTN products, and purchase airtime.

To start using MTN mobile money (MoMo), you need to have an MTN SIM card and to create an account. You can create an account through the MTN agencies or a MoMo salespoint. To register a MoMo account, you need a valid National ID, a valid ID receipt, a passport, a residence permit, or a refugee card.

Alternatively, you can dial *126# to create an account. Next, choose a five-digit PIN, and MTN will activate your MoMo account. To use this service, dial *126# and choose an option from the menu. If you fail to transact with your mobile money account for five years, MTN will render it inactive.

2020 Charges

In the tables below, you will find the charges for using MTN mobile money in Cameroun.

Money transfer to an MTN MoMo customer

Amount (XAF) Charges
100-10.050 1%
10.051-13.550 100
13.551-1.000.000 125

Money transfer to a non-MTN MoMo customer

Amount (XAF) Charges
100-100.100 3%
100.101-200.500 3.100
200.501-400.500 3.500
400.501-500.000 4.000

Cash withdrawals

Amount (XAF) Charges
100-5.999 3%
6.000-10.050 175
10.051-13.550 300
13.551-25.050 350
25.051-50.050 700
50.051-75.100 1.350
75.101-100.100 1.800
100.101-200.500 2.150
200.501-300.500 2.600
300.501-400.500 3.100
400.501-500.000 3.500

Other Fees

Through MoMo, Cameroonians can send money to Congo Brazzaville, Chad, and Gabon. Here are the charges for making international money transfers:

Amount in FCFA Fees
1-50.000 2500
50.000-100.000 5000
101.000-300.000 7500
301.000-500.000 9500
501.000-1000.000 15000

Tuition fee payments

Parents with children in public high schools can use MTN MoMo to pay school and examination fees. The rates for such transactions are shown below.

Item Fees Charges
Tuition 7 500 for the first cycle 200
10 000 for the second cycle 200
Examination 1-10 000 200
10 001-30 000 300
30 001-50 000 500

MTN Mobile MoneyMobile money transactions are capped as per the regulations in Cameroun. For instance, the limit per transaction for cash-ins is 500,000, while the daily limit is 2,000,000. The maximum amount that you can transfer from a bank account per transaction is 500,000, while the limit per day is 5,000,000.

The limit per transaction for cash-outs is 500,000, and the cash-out daily limit is 750,000. The limit per transaction for P2P transfers is 1,000,000, and the daily limit is 1,500,000. When it comes to payments, MTN limits you at 1,000,000 per transaction, and a daily limit of 1,500,000.

The limits for all transactions are 3,000,000 per day, 5,000,000 per week, and 10,000,000 per month. The maximum balance that you can hold in your mobile money account is 5,000,000.