MTN mobile money 2022: Charges, merchant commissions, how to register

MTN mobile money 2022: Charges, merchant commissions, how to register

Transacting cash through the various online platforms has become an integral part of not only the Ghanaian banking system but also the entire globe as a whole. With the advancement in financial technology, many ventures prefer accepting MOMO payments rather than receiving cash physically. Currently, almost all network providers have incorporated mobile banking in their system. However, MTN mobile money remains to be one of the leading mobile banking systems in the country.

MTN mobile money code
Image: @mtnmobilemoney
Source: UGC

Due to the increasing demand for MOMO payments, MTN mobile money, together with the other mobile money providers in Ghana, have increased outlets. They have let the qualified and interested people venture into vending for commission. Before becoming an eligible MOMO applicant, you should attain some requirements. Here is everything you need to know about MTN mobile money charges, how to register, merchant commissions, and so much more.

How to register MTN mobile money

If you are wondering how to become an MTN mobile money agent, here are the requirements which you are supposed to meet.

  • You must own a registered limited company or its equivalent
  • You must fill in and submit a form known as the Agent Recruitment Form
  • You must fill in and submit a form known as the Agent Account Handler Form
  • You must meet the minimum Merchant/Agent code of ethics requirements

Registered limited company

MTN mobile money registration requires the application to have a limited company or its equivalent. This requirement is deemed necessary in ensuring that in case of an unanticipated occurrence, it’s easy to pay back your debts and customers as well.

Documentation requirements for an agent

All forms of businesses in Ghana as obliged to have the official documentation that makes the business binding between the two involved parties. Similarly, since an MTN is a form of business, the agent is required to have this official documentation. You are therefore needed to fill in and submit an agent documentation letter.

Agent recruitment form

MTN mobile money registration
Image: @mtnmobilemoney
Source: UGC

This is also referred to as the MTN MOMO registration form. You can obtain the form from their website, and after filling in all the detailed marked as required, you should submit it for review. The details in this form include;

  • Registered business name
  • Business registration or trade number
  • Assigned bank details
  • GPS location.

Account handler form

Some of the requirements in this form are primarily the agent's personal details, and they include;

  • Full name
  • Place of birth
  • Date of birth
  • Nationality
  • Occupation
  • National ID number

Code of ethics

The MTN mobile money Ghana agent’s code of ethics refers to the agreement of the agent to abide by the ethics of this business. The agent’s code of ethics form includes some of the following details;

  • Customer identification guidelines
  • Transaction guidelines
  • Bribery, corruption, and fraud
  • Money laundering
  • Confidentiality
  • Sanctions
  • Rights of MOMO merchants
  • Fees and commission
  • Indemnities
  • Political neutrality
  • Business ethics
  • Signature portion

MTN mobile money merchant commission

When you become an agent, you will receive some transaction benefits which are paid in terms of commission. The rewarding is done per every transaction the agent carries out, and it serves as the merchant’s profit.

The agent’s commission structure is as follows;

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

MTN mobile money charges

Although the 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 move in GHC form. Here are some of the standard transferring costs;

  • Between 1GHC and 50 GHC- 2.50% as the service fee
  • Amount exceeding 50 GHC – 5% commission fee

When you want to withdraw MTN mobile money from an agent, here are the charges incurred;

  • Between 0GHC-50GHC charges a service of 0.5%GHC commission fee
  • Any amount above 50GHC charges 1%GHC commission fee

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

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

You can also pay your bills using MTN mobile money 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%.

MTN mobile money code

The service provider has come up with different shortcodes that enable the customers to obtain the MTN mobile money menu, thus increasing its efficiency. Some of these shortcodes are;

  • *134*PIN#- to reload airtime
  • Send 024*****1 to 1399 to send please call me
  • *124# to request airtime balance
  • *567*4# for mashup balance
  • *5055# for MTN Jara code
  • *138# to purchase internet and SMS bundles
  • *170# to access MTN mobile money code
  • *138*4# saver bundles
  • *140# for blackberry plans
  • *585# internet setting for MTN Simcard
  • *300*20# to get short and interesting jokes
  • *175# to deactivate all MTN services

How to register MTN mobile money myself

Registering for your own mobile money wallet is a straightforward process that enables you to attain convenience while undertaking your transactions. You need to purchase a Simcard the follow the 6-step registration process as outlined below.

  1. Visit your nearest MTN mobile money agent with your original ID, driving license, voter's ID, or passport.
  2. Get a sim card once the agent has captured all your personal details
  3. Insert the Simcard in your mobile phone and wait for a notification asking you to register for MTN mobile money.
  4. Using the menu on your phone, choose the mobile money option and press ok.
  5. Type in your preferred pin once prompted to. Re-enter the pin to confirm and press ok.
  6. You will receive a message notifying you that the registration process has been done successfully.
MTN mobile money merchant commissions
Image: @mtnmobilemoney
Source: UGC

However, if you are not lucky enough to have an MTN mobile money agent nearby, you don’t need to fret since you can register online with the process below. The first step is obtaining a USSD code by calling customer care on 100 or 024 4300000 so that one can be assigned to you. Once you have the code with you, follow this registration process.

  1. Dial the USSD code assigned to you, e.g., *1234# and press ok.
  2. Several options will be displayed, reply with the register option.
  3. Fill in your personal details such as name, ID number, and any other required detail.
  4. Once all the details are successfully filled in, you will receive an OTP number, which you will use in setting your preferred pin.
  5. Once you have reset your pin, the registration process will be complete, and you can enjoy all the MTN mobile money services.

How to buy WAEC scratch card using MTN mobile money

Other than buying WAEC result checker cards from agents or sales outlets, you can buy some via the MTN mobile money using the following process;

  1. Dial *170# on your user number or *171# on the agent’s number.
  2. Choose pay bill and then select general payment
  3. Answer the indicated prompts correctly by typing in the payment code 'monicliq.'
  4. Enter your preferred amount of money depending on the number of vouchers you want to purchase.
  5. You will receive a prompt asking you to enter your secret pin to authorize the transaction.
  6. Through an SMS, you will receive the result checker voucher.
  7. The SMS is delivered to the mobile number that was used in conducting the transaction.

Please note that with this result checker voucher, you can use it to check on all WAEC examinations such as SSCE, BECE, ABCE, WASSCE, and GBCE.

MTN mobile money API

The access programming interface (API) is a platform that enables third parties to access Mobile Money (MOMO) transfers. PayPal to MTN mobile money is one such API benefits to MTN mobile money users.

Here is how to make a payment or send money using your mobile phone;

  1. Visit
  2. Log in to your account.
  3. Click request or send money.
  4. Choose to send money and enter the details of the recipient, such as name, number, or email address.
  5. Type in the amount and click continue.
  6. Click; send now, to complete the payment.

MTN mobile money is not only convenient and comfortable but also safe. As a result, many Ghanaians prefer this mode of transaction in all their money deals.

DISCLAIMER: This article is intended for general informational purposes only and does not address individual circumstances. If a reader clicks on our advertising partner links within our platform, we may receive a referral fee. Our team will never mention an item as the best overall product unless they believe it is the best option. Compensation does not direct our research or editorial content and in most cases does not impact how our listing articles are written. It is not a substitute for professional advice or help and should not be relied on to make decisions of any kind.

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