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MoMo Transaction Limits Increased to Improve Customer Experience

 

The Bank of Ghana (BoG) authorized an increase in the daily and monthly transaction limits as well as the maximum wallet balances, which MTN MoMo has put into effect. The increased wallet transaction limit will foster more smooth transition to a cash-lite society, more efficient payments, and a rise in digital payments.

Customers who previously had Daily Transaction Limits of GHC 1,000, GHC 5,000, and GHC 10,000 now have limits of GHC 2,000, GHC 10,000, and GHC 15,000, respectively. Additionally, the GHC2,000, GHC15,000, and GHC30,000 account balance restrictions have been raised to GHC3,000, GHC30,000, and GHC50,000, respectively. In addition to these increases, clients with Medium and Enhanced KYC have unlimited monthly transaction limits, while those with Minimum KYC have a maximum of GHC 6,000.

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Mr. Shaibu Haruna, the Ag. CEO of MobileMoney Limited, expressed his happiness over the upward reviews that the BoG had allowed following dialogues to evaluate the potential for reviews to improve digital payments and eventually advance the Cash-lite agenda.

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“MML 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,” he said, adding that this was done after the approval. “We are encouraging all consumers to take advantage of the increase in wallet size to increase their transaction volume and boost their standard of living.”

All MoMo subscribers get access to the positive reviews. However, customers who want additional wallet upgrades must present one of the following documents:

Bank statement, registered tenancy agreement, utility bill in the customer’s name, and letter from your job. Statement of Taxes The paperwork must be provided at any MTN Service Center, or you can contact MTN Ghana online: Facebook or WhatsApp: 0554300000; Twitter: @MTNGhana or @AskMTNGhana; Customers are encouraged to report fraud concerns by text to 1515 or 419 and to be wary of the activities of scammers.

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