Shaibu Haruna
MTN MoMo has announced an increment in the daily and monthly transaction limits as well as maximum wallet balances following approval from the Bank of Ghana (BoG).
The wallet transaction limit is expected to facilitate efficient payments, encourage greater seamless transition into a cash-lite society and promote more digital payments.
Customers with Daily Transaction Limits of GHS1,000 GHS5,000 and GHS10,000 have had their limits increased to GHS2,000, GHS10,000 and GHS15,000 respectively.
Additionally, account balance limits of GHS2,000, GHS15,000 and GHS30,000 have been increased to GHS3,000, GHS30,000 and GHS50,000 respectively.
Further to these increases, monthly transaction limits for customers with Medium and Enhanced KYC are limitless while customers with Minimum KYC have a limit of GHS6,000.
Ag. CEO of Mobile Money Limited, (MML) Shaibu Haruna expressed his delight over the upward reviews approved by the BoG, following engagements to assess the possibilities of reviews to enhance digital payments and ultimately drive the cash -lite agenda.
He said, “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.”
“We are calling on all customers to take advantage of the enhancement in wallet size to grow their transactions and improve their livelihoods,” he added.
The upward reviews have been activated for all MoMo subscribers.
However, Customers who require further enhancements on their wallet are required to provide either, utility bill in customer’s name, bank statement, registered tenancy agreement, letter from your employer or tax certificate at any MTN Service Centre or engage MTN Ghana through its digital channels.
By Jamila Akweley Okertchiri