Welcome to today’s guide on How To Increase Your MTN Mobile Money Transaction Limit with the help of your network provider — MTN Ghana.
We are always limited to the amount of money we can transact within a day or a month with our Mobile Money wallets in Ghana. Be it MTN Mobile Money, Vodafone Cash or AirtelTigo Money, you are always limited to the amount of money you can send, receive or spend in a day and a month.
As a mobile money subscriber, you have the option to increase your mobile money transaction limit — and MTN Ghana allows you to increase your MTN Mobile Money limit to amount of your choice you can transact with in a day.
Why There Is A Transaction Limit On Your MTN Mobile Money Wallet.
The Bank of Ghana is in charge of regulating and provision of license to any institution that is in charge of deposits and withdrawal of money in Ghana, and MTN Mobile Money is not exceptional to these institutions. Banks, Microfinance and other Financial institutions have transaction limit on the amount of money you can send, receive or spend online in a day, week or a month.
The Transaction Limit
The MTN Mobile Money subscribers are categorized into 2 tiers based on the information on your account on the system.
You can check below for the transaction limit for the 1st tier subscribers.
Transaction Limit For 1st Tier Subscribers
- Daily Limit: GHS 2,000 (Meaning the amount that can leave your account within the day so whether you withdraw or send, it should sum up to this amount)
- Monthly Limit: GHS 20,000 (The total amount that can leave your account in a month. )
- Threshold: GHS 10,000 (Your Balance can’t exceed this amount)
After knowing the transaction limit for the 1st tier subscribers, it’s now time to get to know for that of the 2nd tier subscribers.
Transaction Limit For 2nd Tier Subscribers
- Daily Limit: GHS 5,000 (Meaning the amount that can leave your account within the day so whether you withdraw or send, it should sum up to this amount)
- Monthly Limit: GHS 50,000 (The total amount that can leave your account in a month. )
- Threshold: GHS 20,000 (Your Balance can’t exceed this amount)
It’s now time to know the type of tier subscriber you are — and what to do as your next action. The next thing that can only be done is by increasing your MTN Mobile Money limit.
Before knowing how to increase your MTN Mobile Money Transaction limit, let us first of all know how to check our MTN Mobile Money daily and monthly limit.
How To Check MTN Mobile Money Transaction Limit
- Dial the MTN Mobile Money short code, *170#.
- Choose option 6 — My Wallet
- Dial the # — to view the next page
- Dial 8 to check your Wallet Limits
- Enter your MoMo PIN code
On the next page, you will now see a detailed summary of your daily and monthly limits and how much you have used. Also, there will be balance left also and Monthly limit status.
“Your Daily Limit Is GHS 5,000.00. You have used GHS x.xx. Your Balance Left is GHS x,xxx.xx. No Monthly Limit is available.
After knowing how to check your MTN Mobile Money limit, let’s get to how to increase your transaction limit for MTN Mobile Money.
How To Increase Your MTN Mobile Money Transaction Limit
MTN Ghana does not allow individuals to increase the transaction limit of their MoMo wallets on their own — but requires that you visit any nearby MTN Ghana office or branch to update. Below are requirements to update your MTN Mobile Money Transaction Limit.
- Provide your Identification (ID) Card used to register for your MoMo account
- Provide your Bank Statement not less than 3 months
- Utility Bill with your name on it
- Registered tenancy agreement that has your name on it
- Employer’s Reference letter
You can also submit a business certificate — after registering your business from the Registrar General Department.
After the provision of all these documents required, MTN Ghana will now increase your MoMo limit and complete this transaction within a period of 24 hours.
Frequently Asked Questions About How To Increase Your MTN Mobile Money Transaction Limit
The Mobile Money Service, just like any other financial institution or service in Ghana is regulated by the Bank of Ghana.
For code to check your MoMo limit in Ghana, you can just dial the *170#, choose My Wallet, enter # — to view the next page and follow the rest.
With MTN Mobile Money limit, apart from the free transactions, the revised values and wallet limits will remain the same as follows. Customers with a limit of GHS300 can still transact with an amount of GHS1, 000, whereas limits of GHS2,000 and GHS5000 can transact with values of GHS5, 000 and GHS10, 000 respectively.
The requirements to increase MTN Mobile Money limit is all you need to meet. For you to be able to increase your limit, you simply have to update your KYC at any MTN Ghana Office.
Also, customers with wallet balance limits of ¢1,000, ¢10,000 and GHS20,000 can continue to hold up to ¢2,000, GHS15, 000 and ¢30,000 respectively in their wallets. Again, customers with monthly aggregate transaction limits of GHS20, 000 and GHS 50,000 will continue to enjoy unlimited access.
Get a photocopy of your National ID card, Make sure you go with your mobile phone to the nearest MTN service centre. Account creation is free. A One-Time Password or OTP will be sent to your phone via SMS which you will use to access your mobile money account for a limited time. Make sure you first of all register your MTN SIM card, or learn how to register your MTN SIM here.
In regard to how much you can receive from your MTN MoMo wallet, apart from the free transactions, the revised values and wallet limits will remain the same as follows. MTN Ghana subscribers with a limit of GHS300 can still transact with an amount of GHS1,000, whereas limits of GHS2,000 and GHS5,000 can transact with values of GHS5,000 and GHS10,000 respectively.
The MTN Mobile Money subscribers are categorized into 2 tiers based on the information on your account on the system. You can read more about MTN Mobile Money receiving limit here.
For you to increase your limit, you simply have to update your KYC at any MTN Office. These are the requirements. You provide one of the following documents with the ID Card you used in registering for the Mobile Money. Registered tenancy agreement that has your name on it.
- How To Register For MTN Mobile Money In Ghana
- How To Reverse Airtime To MTN Mobile Money Wallet
- How To Withdraw MTN Mobile Money From ATM In Ghana
- How To Link Your MTN Mobile Money To Bank Account
- How To Activate MTN Mobile Money Account Yourself
- MTN mobile money Fraud: Top 5 tricks to be aware And Stay Safe
For further assistance and more information, kindly call MTN Ghana on their mobile helpline — 100.