MTN Mobile is a fast, simple and an effective way of transferring money as well as doing other money transactions via mobile phone. Knowing the specific MTN mobile money charges you are expected to pay will therefore give you an upper hand when using these services. With the amount of things you can do with MTN money, it is only advisable that you understand what you will be charged.
MTN money allows you to top up your airtime, buy insurance, pay for bills such as DSTv and school fees not to mention that you can conveniently receive and send money. MTN partners with the bank of Africa to ensure that clients are able to get the services they pay for. This article breaks down the charges and explains all you need to know about MTN mobile money services.
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MTN mobile money charges 2018
The charges here will depend on the amount of GHC transfer. While the registration to use the service is free, transferring money and getting your cash out comes at a price. To transfer 1 to 50 GHC you will pay 2.50%. Any amount above 50GHC requires a charge of 5%. To cash out 1-50 GHC will cost you 0.5% while any amount above 50 GHC will cost 1%. These charges apply when you are transacting at an agent.
For mobile service, cash transfers costs are different. You will have to pay 0.50% for GHC 1- 50 and 1 percent for GHC50 and above for P2P. If the money transfer is A2C then 1.50% for GHC 1-50 and 3% for GHC 50 and above. Any airtime top-up is free and so is the balance inquiry. Bill payments will be charged at a flat rate which is between 0.5 to 2%.
With these MTN mobile money rates, any industry player is most likely making a significant amount of money in profits. The telecom and partnering bank are reaping big in the mobile money business.
MTN mobile money agent commission rates
The MTN mobile money charges in Ghana allows both the company and agents to make money from the business. Without a significant amount of profit the business would otherwise be useless.
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What is known for sure is that agents still feel that the commission they get for the mobile money services is still low. It is not surprising therefore that they have been requesting MTN to scale upwards so that they can make good money out of the booming business. The MTN mobile money withdrawal charges as mentioned above is enough to allow both company and agents to earn significant amounts of money to make profits. It is crucial before signing up as an MTN agent to know the potential MTN mobile money commission rates you are expected to get as payment.
MTN Ghana mobile money transfer charges
- 1-50 GHC transferred at 2.5%
- Amounts above 50GHC transferred at 5%
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- 1-50 GHC transferred at 0.5%
- Amounts above 50 GHC transferred at 1%
- 1- 50 GHC transferred at 1.5%
- Above 50 GHC transferred at 3%