The telecommunication giant MTN Ghana has increased the Mobile Money (MoMo) transaction limits to enhance MoMo customers’ experience.

In a statement copied to the Vaultz News, MTN highlighted the importance of the transaction limit increase, noting that the wallet transaction limit increase will facilitate efficient payments, encourage a greater seamless transition into a Cash-lite society and promote more digital payments.

“MTN MoMo has implemented the Bank of Ghana (BoG) approved increase in daily and monthly transaction limits as well as maximum wallet balances. Customers with Daily Transaction Limits of GHC 1,000, GHC5,000 and GHC10,000 have had their limits increased to GHC2,000, GHC10,000 and GHC15,000 respectively. Additionally, Account balance limits of GHC2,000, GHC15,000, and GHC 30,000 have been increased to GHC3,000, GHC30,000, and GHC 50,000 respectively.”
MobileMoney Limited

Moreover, further to these limit increment, monthly transaction limits for customers with Medium and Enhanced KYC are limitless while customers with Minimum KYC have a limit of GHC 6,000.

The Ag. CEO of MobileMoney Limited, Mr. Shaibu Haruna, while reacting to the transactions limit increment, expressed his delight over the upward reviews approved by the Bank of Ghana, following engagements to assess the possibilities of reviews to enhance digital payments and ultimately drive the Cash-lite agenda.

“MML following the approval has gone ahead to implement the directives to ensure that our customers enjoy the convenience of doing various transactions such as the Money Transfer, Bill Payments, receive Remittances, Buy Insurance, Buy Shares, Payment of school fees as well as general goods and services.”
Mr. Shaibu Haruna

Ag. CEO of MobileMoney Urges Customers to Take Advantage of the Enhancement

Mr. Shaibu Haruna, meanwhile, called on all customers to take advantage of the enhancement in wallet size to grow their transactions and improve their livelihoods. He iterated that the upward reviews have been activated for all MoMo subscribers.

That notwithstanding, customers who require further enhancements on their wallet are required to provide any of the following documents: Utility Bill in the customer’s name, Bank Statement, Registered Tenancy Agreement, Letter from the employer, and Tax Certificate.

The above documents should be presented at any MTN Service Centre or engage MTN Ghana through its digital channels: Twitter: @MTNGhana or @AskMTNGhana; Facebook: MTN Ghana or WhatsApp:0554300000.

Customers are also advised to beware of the activities of fraudsters and report fraud issues by text to 1515 or 419.

MobileMoney Ltd is a subsidiary of MTN Ghana responsible for Mobile Financial Services. Launched in 2009, MTN MoMo has 17 million registered subscribers. MTN MoMo works with 19 partner banks, All the PSPs and more than 280,000 Agents as well as over 240,000 Merchants across the country. Between 2016 and Q3 2022 a sum of GHS 614 million cedis was paid as Interest to over 15.7 million customers.