Mobile Money (MoMo) in Uganda provides a convenient and accessible means for individuals to send, receive, and manage money using their mobile phones. Among the various services offered by MoMo, withdrawal charges play a crucial role in determining the cost associated with accessing cash from one’s account. In this article, we delve into the withdrawal charges applicable to MTN MoMo users in Uganda, providing a clear understanding of the tariffs involved across different transaction amounts.
Overview of MTN withdrawal charges Uganda
MTN MoMo Uganda imposes withdrawal charges based on several factors, including the amount being withdrawn, the destination of the funds (such as other networks or bank accounts), and the method of withdrawal (agent or ATM). These charges are structured to ensure transparency and facilitate seamless financial transactions for users. Let’s break down the withdrawal charges according to the specified parameters:
1. Amount (UGX)
This column represents the range of transaction amounts for which withdrawal charges apply.
2. Withdrawal charges for sending To MTN or Other Networks (UGX)
Indicates the charges for sending money to MTN or other networks.
3. Sending To the Bank (UGX)
Specifies the charges for sending money to a bank account.
4. Agent Withdraw (UGX)
Denotes the withdrawal charges associated with withdrawing funds from an authorized MTN MoMo agent in Uganda.
5. ATM Withdraw (UGX)
Represents the charges for withdrawing money from an ATM.
6. Senkyu Points
Refers to the loyalty points earned through transactions.
7. Withdraw Tax (min) (UGX) / Withdraw Tax (max) (UGX)
Specifies the minimum and maximum withdrawal tax applicable.
8. Payments To Various Services
Indicates the charges for payments to specific service providers, including Azam TV, Ready Pay, school fees, Solar Now, UMEME, NWSC, DStv, StarTimes, NSSF, and Multiplex.
9. Voucher/Unregistered User
Specifies the charges for transactions involving vouchers or unregistered users.
Key highlights alongside MTN MoMo withdrawal charges in Uganda
- Taxes are automatically deducted from the user’s account during withdrawal transactions, ensuring compliance with regulatory requirements.
- Users enjoy free access to their MoMo accounts while roaming, as well as access to account statements via the MoMo App.
- Account limits include a minimum transaction amount of UGX 500, a maximum transaction limit of UGX 5,000,000, and a maximum account balance of UGX 20,000,000.
- Several services such as changing MoMo PIN, checking account balance, accessing mini statements, registering for MoMo on SIM, depositing MoMo, and purchasing airtime or bundles incur no additional charges.
- Users are advised against paying any agents for transactions, as fees are automatically deducted from their MoMo accounts.
Final thoughts on MTN MoMo Uganda withdrawal charges 2024
Understanding MTN Uganda withdrawal charges is essential for users to make informed decisions regarding their financial transactions. By comprehensively examining the tariffs associated with different transaction amounts and destinations, users can optimize their use of MoMo services while minimising costs.
