What is MTN Mobile Money?

MTN Mobile Money is a financial service that allows users carry out transactions using their phone numbers. Developed by MTN, one of the leading telecommunications companies in Africa, Mobile Money offers an accessible way to manage money, make payments, transfer funds, and access various financial services, all from the comfort of one’s mobile device.

This service has greatly transformed the way people handle their transactions, especially in regions where traditional banking services might be limited.

How to Use MTN Mobile Money in Nigeria

MTN Mobile Money is a convenient way to manage money using your MTN phone number. Here is how to make the most of it:

  1. Account: Your MTN Mobile Money account keeps your money safe in an electronic wallet linked to your MTN mobile number. But, before you send money, make sure the person you’re sending it to has their own MTN Mobile Money account.
  2. Check MTN Website: If you want to know what services are available through MTN Mobile Money in your country, visit the MTN website for more details.
  3. Various Uses: With your MTN Mobile Money account, you can do many things, such as:
    • Receive and Keep Money: Keep money in your MoMo account.
    • Send Money: You can send money with MTN Mobile Money. To transfer money from your Mobile Money wallet to another person using MoMo, you only need their phone number. Simply dial *671*1*1*Receiver’s Phone Number#, input the amount, and then enter your PIN to confirm the transaction.
    • Cash Withdrawal: You can visit an authorized MTN Mobile Money agent to take out cash.
    • Top-Up Airtime: Recharge your MTN line using your mobile money.
    • Pay Bills: Use it to pay your bills.
    • Make Payments: Pay for things like flight tickets and other stuff.
  4. Opening MoMo Bank Account: To sign up for MTN Mobile Money, dial *671# on your MTN phone and set up a 4-digit PIN. This PIN will be used to authorize your transactions.
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Funding MTN Mobile Money Wallet

You can add money to your MTN Mobile Money Wallet in a few different ways. Here are the options:

  • Using MoMo Agent: If you don’t have a bank account, you can still put money in your MTN Mobile Money. Just find a MoMo agent close to where you are. You hand them cash, and they’ll make sure it gets added to your wallet. This is great for people who don’t have regular bank accounts.
  • From Your Bank Account: If you already have a regular bank account with traditional commercial banks, there’s another method. You can send money from your bank account to your MoMo PSB wallet. Use your banking app to do the transfer.

Sending Money through a MoMo Agent

Here’s how to send money through a MoMo Agent:

  • Find a MoMo agent close to you.
  • Hand the agent the money and share the recipient’s phone number.
  • The agent will start the transaction. Once it’s done, you’ll get a 6-digit control number through an SMS on your phone.
  • Tell the recipient about the money and share the 6-digit control number. The recipient will also get their own 6-digit number. Both these numbers are needed for the recipient to get the money.
  • The recipient finds a nearby MoMo agent, goes there, and gets the money.

How to Locate a MoMo Agent

Finding a MoMo Agent is easy:

  • Dial *223# on your phone.
  • Choose option 1 to locate an agent.
  • Enter your state.
  • Enter your local government area (LGA).
  • You’ll see the Address and Phone number of the closest MoMo agent displayed.

Buying MTN Airtime on Cardvest

Here’s a guide for buying MTN airtime on Cardvest:

  • Log in to your Cardvest account using the email address and password you’ve registered with.
  • Tap the ‘Airtime’ icon and pick MTN as your network provider.
  • Enter the phone number you want to recharge and specify the airtime amount you want to buy.
  • Click the ‘buy airtime’ button to finish the transaction.
  • After these steps are done, your MTN number will receive airtime immediately.

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