MTN Mobile Money charges: MoMo withdrawal & transfer costs

MTN Mobile Money charges: MoMo withdrawal & transfer costs

While using mobile money services, you should understand the charges involved in the transactions. You need to know the specific MTN Mobile Money charges you are expected to pay because this will give you an upper hand when using these services.

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MTN mobile money charges list in Ghana
A photo of MTN logo. Photo: @MTNUG
Source: Facebook


MTN money allows you to top up your airtime, buy insurance, and pay bills such as DStv and school fees. Also, you can conveniently receive and send cash through MoMo. In partnership with the bank of Africa, the MTN partners ensure that clients can access the services they pay for. This article breaks down the charges and explains all you need to know about mobile money charges on withdrawals and cash transfers.

MTN Mobile Money charges

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What are the MTN Mobile Money charges? According to the directives provided by President Nana Addo Dankwa Akufo-Addo, mobile money users can send up to GHC 100 for free. However, there is a 100% up to 300% increase in the daily transaction limits for cash transactions. The charges on mobile money transactions of a hundred Ghana cedis (GHC 100) still stand at GHC 1.

With these MTN Mobile Money rates, any industry player is most likely making a significant amount of cash in profits. The telecom and partnering banks are reaping big in the mobile money business.

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MTN Mobile Money charges in Ghana allow the company and agents to make cash from the business. Without a significant amount of profit, the business would otherwise be useless.

MTN Ghana mobile money withdrawal charges

Before any mobile money transaction, you need to know how much is charged for the cash to be withdrawn. Some of the MTN MoMo withdrawal charges in Ghana are:

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  • For any withdrawal between GHC 1 to GHC 50 using your MTN MoMo code, the client is deducted GHC 0.50.
  • For any withdrawal above GHC 50, a fee of 1% is deducted from the money to be withdrawn.
  • When sending any amount between GHC 1 to GHC 50, the sender is deducted GHC 2.50.
  • For sending any amount more than GHC 50, the client is deducted 5% of the cash as fees.

MTN MoMo charges on agents

Being a MoMo agent comes with its benefits in terms of commissions. These agents' interest rates act as the agent's source of profit.

Before signing up as an agent, you need to know the possible commission rates expected as payment. When you become an agent, you will receive some transaction benefits, which are paid in commission. The reward is done per every transaction the agent carries out and serves as the merchant's profit.

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MTN MoMo withdrawal charges Ghana agents' commission structure is as follows;

  • Withdrawal between GHC 1 and GHC 50 charges GHC 0.50
  • Withdrawal exceeding GHC 50 costs 1%GHC of the withdrawn amount.

MTN MoMo transfer charges

mtn mobile money charges list
Unhappy black man surfing smartphone in tent. Photo:, @kamajiogino
Source: UGC

Although MTN Mobile Money registration is free of charge, some cost is usually incurred when transferring money from your wallet to any of your desired destinations. The cost varies considerably, depending on the amount you want to transfer. Some of the standard transferring charges are:

  • Between GHC 1 and GHC 50, the service fee is 2.50%
  • Amount exceeding GHC 50, the service fee is 5%

The charges are different when sending cash through your mobile phone. The costs are as follows;

  • Between GHC 1 and GHC 50 - 0.5% commission cost.
  • Any amount above GHC 50 - 1% GHC.

You can also pay your bills using MTN MoMo transfer online at a flat rate of 2%. Although this percentage tends to reduce when the bill you are paying is small, the amount can never exceed 2%.

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However, some transactions are exempted from the new revised mobile money transaction charges, such as:

  • Subscriber-to-agent
  • Subscriber-to-merchant
  • Merchant-to-merchant
  • Agent-to-agent
  • Agent-to-merchant
  • Bill payments
  • Cash-out
  • Financial services
  • General payments

MTN Mobile Money charges list in Ghana

What are the charges of MTN Mobile Money? Below is the MTN Mobile Money charges list for various services.

Transaction points for subscribers

Below is a table for the transaction points for subscribers.

ServicesMinimum value in GHCMaximum value in GHCMoMo charges in GHC/percentageTax charge
Money transfer (P2P)1500.381.50%
Above 5010000.75%1.50%
Above 1000N/A7.501.50%
Money transfer to merchants (MSISDN)1500.50N/A
Above 5010001%N/A
Above 1000N/A10N/A
MoMo pay (Merchant ID & QR)110000.5%N/A
Above 1000N/A5N/A
Money transfer (A2C)150GHS1.5N/A
Above 5010003%N/A
Above 1000N/A30N/A
Transfer to other networks1500.381.50%
Above 5010000.75%1.50%
Above 1000N/A7.501.50%

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Transaction points for merchants

Below is a table for the transaction points for merchants.

Services Minimum value in GHCMaximum value in GHCMoMo charges in GHC/percentageTax charge
Money transfer from merchant to agent110001%N/A
Above 1000N/A10N/A
Money transfer from merchant to a subscriberN/AN/AFreeN/A
Money transfer from merchant to merchantN/AN/AFreeN/A

Transaction points for bill payment

what are the charges of mtn mobile money
Focused black businesswoman browsing smartphone on urban street. Photo:, @onokosuki
Source: UGC

Below is a table for the transaction points for bill payment.

ServicesMinimum value in GHCMaximum value GHCMoMo charges in GHC/percentageTax charge
Airtime top-up1100FreeN/A
GoTV (Agent)1 and above-GHS1N/A
GoTV (Subscriber) 1 and above-0.50N/A
DSTV (Subscriber)N/AN/AFreeN/A
ECG (Subscriber)N/AN/A0.50N/A
ECG (Agent)N/AN/A0.50N/A
Ghana water (Agent)N/AN/AFreeN/A
Ghana water (Subscriber)N/AN/AFreeN/A
Box officeN/AN/AFreeN/A
School fees (Agent)N/AN/A2N/A
School fees (Subscriber)N/A2N/A

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Transaction points for agents

Below is a table for the transaction points for agents.

Services Minimum value in GHCMaximum value in GHCMoMo charges in GHC/percentageTax charge
Money transfer (C2C)1502.5N/A
Above 5010005%N/A
Above 1000-50N/A
Cash in1N/AFreeN/A
Cash out1500.5N/A
More than 50N/A10N/A
More than 1000N/A10N/A

Other transaction points

Below is a table for other transaction points.

Transaction pointsServicesMinimum value in GHCMaximum value in GHCMoMo charges in GHC/percentageTax charge
Bank integrationTransfer to bank (Subscriber and Agent)N/AN/AFreeN/A
Transfer to bank (Merchant)110001%N/A
Above 1000N/AGHS10N/A
Transfer from bankN/AN/AFreeN/A
Account managementBalance enquiryN/AN/AFreeN/A
Mini statementN/AN/AGHS0.01N/A
Statement requestN/AN/AGHS0.05N/A
ATMATM token550GHS0.50N/A
Above 504001%N/A

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E-levy charges on MTN Mobile Money

Electronic transfers are subject to the E-levy, which is a tax charged at the time of transfer. The value of electronic transfers is subject to a 1.50 per cent E-levy. 

Person-to-person (P2P) transfers exceeding GHC 100 will incur MTN charges at a discounted rate of 0.75% on both the MTN MoMo platform (On-net) and through the interoperability (Off-net).

Is MTN Mobile Money the same as MoMo?

what are the mtn mobile money charges
Delightful man surfing modern cellphone in city park. Photo:, @keiraburton
Source: UGC

Yes. MTN Mobile Money (MTN MoMo) is a secure electronic service that allows wallet holders to store funds, send and receive money, make payments, and perform various other tasks using their mobile phones.

What is the limit for MTN MoMo in Ghana?

The MTN and Bank of Ghana initiatives have been extended, allowing MoMo customers to continue sending money transfer values up to GHS100 daily to MoMo wallets for free. Monthly limits range between GHC 1,000 and GHC 50,000.

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How does MTN MoMo work in Ghana?

It keeps funds secure in an electronic account linked to an MTN mobile phone number. One must ensure the recipient has a registered MTN MoMo account before sending money to them.

What transactions fall under the E-levy?

The taxes apply to any transfer to or from a mobile money account or a person's bank account. These includes:

  • Transfers carried out via the same mobile money network.
  • Transfers of funds from one mobile money network to another.
  • Transfers of funds from a bank account to a mobile money account.
  • Transferring funds from a mobile money account to a bank account.
  • Bank transfers on an instant payment platform or application originate from an individual's bank account.

Knowing the MTN MoMo rates and transactions is essential before transacting using the mobile money service. MTN Mobile Money charges are favourable and convenient for any MoMo user.

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READ ALSO: How to transfer money from Nigeria to Ghana mobile money recently published an article about various methods of transferring money from Nigeria to Ghana. There are several ways to transfer funds from one African country to another.

There are several methods for transferring funds from Nigeria to Ghana, one major one being through MoneyGram. This is a simple way to send money to Ghana via mobile wallet.

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