MTN Ghana introduces Customer Transaction Limits and charges with effect from March 2024

MTN Ghana has introduced new transaction limits and charges, which will take effect from March 2024. The changes were approved by the Bank of Ghana (BoG) and aim to provide customers with increased flexibility and convenience in their mobile money transactions.

Customer Transaction Limits

Contents show

Customer Transaction limits refer to the maximum or minimum amount that customers can transact using MTN Mobile Money services within a specified period or for a specific type of transaction. These limits are set by MTN Ghana to ensure security, compliance, and efficient processing of transactions.

Minimum KYC Limit

The minimum transaction limit has been increased from GHC2,000 to GHC3,000. This means that customers can now initiate transactions starting from GHC3,000 and a maximum monthly transaction of GHC10,000 (an increase from GHC6,000). This category is for customers who have completed basic KYC requirements but have not provided all the necessary documentation.

Medium KYC Limits

Customers with Medium Know Your Customer (KYC) verification can enjoy upto GHC15,000 daily transactional limit (an increase from GHC10,000. There is no monthly limit.

Enhanced KYC Limits

Customers with Enhanced Know Your Customer (KYC) verification can enjoy upto GHC25,000 daily transactional limit (an increase from GHC15,000). This provides greater flexibility for customers who have completed the necessary KYC procedures. There is no monthly limit.

Account Limit Summary

KYC Account Type	New Transaction Limit	Max Account Balance
Minimum KYC Limit	GHC3,000	GHC5,000
Medium KYC Limits	GHC15,000	GHC40,000
Enhanced KYC Limits	GHC25,000	GHC75,000

Account Limit Summary

Cash-Out Cap Summary

Cash-Out Amount	Fee Charged
Less than GHC50	0.50p
GHC50 – GHC1000	1%
GHC1000 – GHC2000	1%
GHC2000 and above	GHC20

Subscriber Cash-Out Cap Summary

Please note that the above changes are aimed at enhancing our customer
experience, ensuring a sustainable growth of the ecosystem and to further
help our agents sustain their businesses.

Kindly note that any agent found going contrary to the above stipulated fees
will be subjected to our sanctions and disciplinary procedure.
Shaibu Haruna (Chief Executive Officer MTN Momo)

MTN Ghana associates the update as being in line with MTN Momo ambition of supporting the sustainable growth of the Mobile Money Ecosystem and to enhance customer experience and offer commercial viability to all ecosystem players.