MTN Uganda is one of the many telecom companies in the country. The mobile network operator holds the largest market share compared to Airtel Uganda, Africell Uganda, Uganda Telecom, and Smile Telecom. One of the services it provides is mobile money. This article will highlight the MTN mobile money tariffs and rates.
MTN Uganda Mobile Money Tariffs
MTN Uganda mobile money (MoMo) allows customers to send and receive money, pay for goods and services, buy airtime, and save and borrow money.
Below are the tariffs that MTN Uganda charges its mobile money customers.
Sending Money Tariffs
|Transactions (Ush)||To MTN||Send To Other Networks||To the Bank||Send To East Africa|
Rates for Making Payments via MTN Uganda Mobile Money
|Transactions (Ush)||To Azam TV, School Fees, Ready Pay, Solar Now||Payment To UMEME, DStv, NSSF, Multiplex, NWSC, StarTimes|
Fees for Withdrawing Cash via MTN Uganda MoMo
|Transactions (Ush)||From Agent||From ATM|
MTN Uganda also offers MoMoPay, a service that enables merchants to receive payment for goods and services. When customers use this service, they do not pay any charges. However, individual merchants have to pay one percent of the value of the payment, while business merchants pay two percent.
Customers should also bear in mind that the daily transaction limit through MTN mobile money is Ush7,000,000. On the other hand, the minimum transaction amount is Ush50.
MTN MoMo customers in Uganda can have a maximum of Ush5,000,000 in their accounts and a minimum of Ush0.
Other MTN Uganda Mobile Money Charges
MTN Uganda imposes additional charges as follows:
SMS Charges While Roaming
Roaming customers have to pay fees for the SMSs they receive when making mobile money transactions.
|Transaction||Number of SMSs||Fee Inclusive of Tax (Ush)|
|Send MTN mobile money to a registered number||2||111|
|Send MTN mobile money to an unregistered mobile user||4||222|
|Send MTN mobile money to an unregistered non-mobile user||2||111|
MTN MoMo Service Fees
|Buy airtime and bundles for yourself or others||FREE|
|Check MoMo balance||FREE|
|Register for MTN mobile money||FREE|
|Deposit money to your MoMo account||FREE|
MoKash is an MTN Uganda mobile money service that allows users to save and borrow money. When you access a loan between UGX3,000 and up to UGX1,000,000, you will pay a nine percent facilitation fee.
Moreover, if you fail to repay the loan in 30 days, MTN will extend the loan period for another 30 days at a cost of nine percent. Nevertheless, depositing and withdrawing from your MoKash account is free. Also, checking your loan limit comes at no cost.
When you save with MoKash, your savings will earn the interest below.
|More than 1,600,000||5|
MTN has collaborated with Mastercard to offer the MoMoCard. The virtual card permits users to conduct online transactions with the funds in their mobile money accounts. MoMoCard is valid for 30 days only. Once it expires, you will have to create a new card.
It costs UGX 1,000 to create a MoMoCard. Furthermore, the maximum value of a MoMoCard is UGX3,000,000.
Commissions for Mobile Money Agents
MTN MoMo agents earn commissions for the services they offer. Below is a breakdown of the commissions that agents receive for facilitating various mobile money services.
|Transactions (Ush)||Deposit||Withdrawal||Pay Bills for Customers (NWSC, Africell bundles, UMEME)|
|500-2,500||5 percent of the amount||100||35|
With this breakdown of MTN Uganda mobile money tariffs and rates, you will not get any surprises when you make transactions. Learn more about MTN mobile money here.