This story talks about MTN mobile money withdraw charges and levies on transactions like making purchases, sending money and withdrawing money from a bank account.
There are two things you need to know: the o.5% tax on mobile money withdraws still counts and at the beginning of this year MTN increased the fees you’re charged to transfer money from your MTN Mobile Money wallet to your bank account.
Below, we shall show the fees the telecom giant takes on every transaction you make, starting with MTN mobile money withdraw charges.
Remember: the biggest transaction you can make in a day can only be as high as Shs7,000,000, you can have a minimum account balance of Zero, a maximum account balance of Shs15,000,000 and can make a minimum transaction of Shs50.
Table showing MTN mobile money withdraw charges (MoMO agent and ATM)
| Amount (Shs) | Transaction type (Shs) | ||
|---|---|---|---|
| Withdrawing via | |||
| Min | Max | Agent | ATM |
| 500 | 2 500 | 330 | NA |
| 2 501 | 5 000 | 440 | NA |
| 5 001 | 15 000 | 700 | 1 100 |
| 15 001 | 30 000 | 880 | 1 100 |
| 30 001 | 45 000 | 1,210 | 1 320 |
| 45 001 | 60 000 | 1,500 | 1 320 |
| 60 001 | 125 000 | 1,925 | 2 035 |
| 125 001 | 250 000 | 3,575 | 3 795 |
| 250,001 | 500,000 | 7,000 | 6 325 |
| 500 001 | 1 000 000 | 12,500 | 11 385 |
| 1 000 001 | 2 000 000 | 19,800 | NA |
| 2 000 001 | 4 000 000 | 35,200 | NA |
| 4 000 001 | 7 000 000 | 49,000 | N/A |
Beginning May 10, the above charges will change as shown below:
Learn how to withdraw MTN mobile money using an ATM here and also how to withdraw money without an ATM card.
Sending fees
| Amount (Shs) | Transaction (Shs) | ||
|---|---|---|---|
| Sending money to | |||
| Min | Max | MoMo user | non-user |
| 500 | 2 500 | 250 | 830 |
| 2 501 | 5 000 | 500 | 940 |
| 5 001 | 15 000 | 1,000 | 1,880 |
| 15 001 | 30 000 | 1,000 | 1,880 |
| 30 001 | 45 000 | 1,000 | 2,310 |
| 45 001 | 60 000 | 1,000 | 2,310 |
| 60 001 | 125 000 | 1,600 | 3,325 |
| 125 001 | 250 000 | 1,600 | 4,975 |
| 250 001 | 500 000 | 1,600 | 7,175 |
| 500 001 | 1 000 000 | 2,000 | 12,650 |
| 1 000 001 | 2 000 000 | 2,000 | 22,000 |
| 2 000 001 | 4 000 000 | 2,000 | 37,400 |
| 4 000 001 | 7 000 000 | 2,000 |
The figures for sending money on MTN will also change as below:
The other charges you need to know about are on paying for utilities and making purchases, which you can find here.
(The ranges for making payments are as for withdrawing and sending)
Related:
How to pay Yaka using Mobile Money (step-by-step guide)
Telecom firms dragged to court over unclaimed mobile money balances
