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MTN Ghana Mobile Money: Everything You Need To Know! [MUST READ]

mtn ghana mobile money
mtn ghana mobile money

MTN Ghana Mobile Money. Are you an expat living in Ghana? A local who has lots of questions about MTN Mobile Money? Or just a curious mind looking to learn more about the MTN Ghana Mobile Money system?

Whatever the case, this article will hopefully answer all the burning questions you have about MTN Ghana mobile money.


MTN Ghana Mobile Money

What is Mobile Money?

mtn ghana mobile money
mtn ghana mobile money

Mobile money as a term, is used to describe a fast, convenient way of transferring money to people, while making payments and transactions a lot easier in a simple, affordable, and secure manner.

MTN mobile money is basically the service provider MTN, offering this service just like its competitors do.

The term “MoMo” is the short form of “Mobile Money” which is used widely as well lately.

Benefits of Having an MTN Mobile Money Account

  1. Send and receive money instantly
  2. Top-up airtime for yourself and others within seconds
  3. Pay employee salaries, debts, etc.
  4. Buy and pay for insurance
  5. Pay bills (utility, school fees, DSTV, ECG post-paid)
  6. Apply for loans without collateral

How Does MTN Mobile Money Transfer Work?

If you want to transfer money from your account to another number, there are two common ways to go about it;

  • *170# Menu

  1. Dial *170# which is the main menu for all MTN mobile money transactions.
  2. On the menu, you have the option to choose which transaction you’d like to carry out.

Usually, selecting the “transfer money” option, leads you on to select how you would like to proceed with the transfer.

  • The MTN Mobile App

Alternatively, instead of dialing *170# for the mobile money menu, you can download the app from Google Play Store for more convenience.

It basically comes with the same features you would find on the *170# menu. However, the app does not currently support loan services.

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One thing most customers love about the app is how you can store the contacts of your recipients with ease. Further, the app helps you to choose those same recipients for another transaction or transfer.

This saves a lot of time, and makes it easy for you to make transfers to a particular group of people again.

  • Visiting a Mobile Money Vendor

Don’t worry if you can’t transfer money for various reasons. All you have to do is visit the nearest MOMO vendor for a seamless money transfer.

When you get to the vendor,

  1. Let them know of your transfer (whether from your account to an MTN user’s account or a non-MTN user account)
  2. Provide them with the number you want to send the money to, and they would usually ask you if you would want to add “the charges” or not. MTN charges a little fee for every transfer, and sometimes you would need to transfer a little extra if you wouldn’t want the recipient bearing that cost.
  3. When making a transfer via a vendor, you need to pay cash.

Linking Mobile Money to Bank Accounts

Want more convenience and freedom with your transactions? Try linking your mobile money account to your bank account and watch your life get so much easier!

Users do this for two main reasons:

  1. Transfer money from their wallet to their bank account
  2. Transfer money from their bank account to their MOMO wallet

MTN Mobile Money Charges (2020) in Ghana 

As mentioned previously, there are a few charges that take effect on each mobile money transaction and many people might already be aware of this, but not everyone is really familiar with the exact charges that are deducted.

Below, you will find the updated charges for MTN Ghana transactions:


Transaction Point Service Type Transaction Limit Charges
At Merchant’s/Agent Money Transfer GHS 1-50 GHS 2.50
At Merchant’s/Agent Money Transfer Above GHS 50 GHS 5%
On Mobile Money Transfer (P2P) GHS 1-50 GHS 0.50
On Mobile Money Transfer (P2P) Above GHS 50 1%
On Mobile Money Transfer (A2C) GHS 1-50 1.50
On Mobile Money Transfer (A2C) Above GHS 50 1%
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How to Check your MTN Ghana Mobile Money Balance

You can do this in 3 easy steps

  1. Dial *170# and select number (6) on the first menu
  2. Select (1) to check your balance
  3. Enter your mobile money PIN, and your remaining balance (amount you have left in your account) will show up.

MTN Ghana Mobile Money: Frequently Asked Questions (FAQs)

  • How do I register for MTN Mobile Money in Ghana?

Simply visit any authorized MTN merchant office with a valid National ID, passport, Voter’s ID or Driver’s License to register. Alternatively, you can also register online using the MTN website 

  • Can I transfer money to non-MTN users?

Yes, by selecting a “non-MOMO/mobile user” option before transfer, you would be generated a token ID which you’d send to the recipient together with a secret code which you would be asked to enter. 

The recipient can then go ahead to withdraw the money using the details you have sent them. 

  • How do you Reverse MOMO?

If you make a mistake with a transaction and are unsure what to do or how to reverse a transaction, call the MTN customer helpline by dialing 111 and opt to speak to a customer service representative. You would be assisted immediately as long as you are able to explain what happened well enough to the understanding of the agent. 

  • How much loan can I take via MTN Ghana Mobile Money?

Based on how often you use your mobile money account, you might be eligible for loans up to 1,650 Ghana Cedis or more. 

Most customers with great credit history confirm being offered up to 1,650 cedis from either the QWIK Loan or Xpress Loan services.

  • How can I become eligible for MTN Ghana Mobile Money Loans?

According to MTN, you must recharge with talk time more frequently and use your momo account very often as well. The more active you keep your mobile money account, the more you would be eligible for a loan with MTN.

  • Can I repay my loan in bits?

Yes. You can make small repayments of your loan until the given due date.

  • What happens if I don’t repay my MTN loan on time?
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A penalty of 12.5% will be added if you take a loan and are not able to pay before the deadline – usually a month from the day of receiving the loan. 

Also, you will not be able to request for a loan amount higher than what you just defaulted.


MTN Ghana Mobile Money has indeed, been warmly received and embraced by the Ghanaian community even though there still are many (mostly above average income earners) who do not feel the need to get onboard with the service.

Nonetheless, it still continues to become a necessary payment option with each passing day, being used as often as MasterCard & Visa, among many other payment options in the country.

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Written by Aba Forson

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