The ease and the comfortability that comes with using MTN Momo have practically reduced the number of times people use traditional financial institutions to make money transactions. MTN Mobile Money has become an indispensable part of the lives of Ghanaians.
There are limits to the amount of money you can withdraw from your MTN Momo. You can update these limits on your MTN Mobile Money account but it’s important to these limits and how to check them – so we can eventually upgrade.
In this article, we will look at why there are daily and Monthly limits on MTN mobile money (Momo) accounts, the limits, and how to check them on your phone.
MTN Mobile Money Limits Just like any other financial institution in Ghana, MTN Mobile Money service is controlled and regulated by the Bank of Ghana. Bank of Ghana issues these limitations based on the license the service providers holds and also for security reasons.
MTN Mobile Money limitations are grouped into two tiers.
- Tier One
The first tier is the lower tier of limits.
Daily Limit: GHS 2,000( The total amount of money you can send or receive in a day)
Monthly Limit: GHS 20,000( The total amount of money you can send or receive in a month)
Total Balance Limit: GHS 10,000( The highest amount of money you can have in your Mobile Money account at any given time)
- Tier Two
The second tier is of the highest limits.
Daily Limit amount: GHS 5,000
Monthly Limit amount: GHS 50,000
Account Balance Limit: GHS 20,000
How to check MTN Mobile Money Daily and Monthly Limits On Phone
For confirmation on which tier you are on and how much of the limits you have used already, follow these steps below:
- Dial *170#
- Dial 6 to select “My Wallet”
- Dial # to view the next page
- Dial 8 to check your wallet limits
- Enter your Momo pin.
You will see a summary of your daily and monthly limits on the next page including the amount you have used up and how much you have left on your limits.
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