MTN Mobile Money Withdrawal Charges in Ghana 2021
MTN Mobile Money Withdrawal Charges in Ghana is not something new to a mobile money subscriber. In most cases, you get confused about whether MTN Ghana MoMo charges follow a formula or happen randomly. Some people even think withdrawing from one agent is less expensive than the other. All these are not true. MTN Ghana has a way you can calculate your withdrawal charges before even walking to an agent to withdraw your money.
MTN MoMo withdrawal charges come in three forms, and they are; if you withdraw an amount between GHS 1 to GHS 50, you’ll be charged GHS 0.5, If you withdraw an amount between GHS 50 to GHS 1000, you’ll be charged 1% of the amount and finally if you withdraw amount above GHS 1000, you will be charged GHS10. Continue reading for better understanding.
There are two ways you can withdraw or cash your MoMo. You can either withdraw from an agent, which is very common, you can also withdraw your money using Automated Teller Machine (ATM).
In this article guide, we shall cover everything about the MTN Mobile Money Withdrawal Charges in Ghana 2021.
Table of Contents
MTN Mobile Money Cash Out Charges from an Agent
Withdrawing your Mobile Money from an agent is the common way you can withdraw your money. The withdrawal charges are the same everywhere you go. The saying that MTN charges more when withdrawing from one agent than another agent is not true. They use a simple method for this.
The charges are calculated based on the amount you are withdrawing. The amount can be in three categories; below GHS 50, between GHS550 and GHS 1000, and above GHS 1000.
- If you are withdrawing an amount less than GHS50, you will be charged GHS 0.5. For example, if you want to withdraw GHS 20, you will be charged GHS 0.5. Also, if you’re going to withdraw GHS49, you will be charged GHS 0.5. The GHS 0.5 charge is fixed.
- If you want to withdraw an amount between GHS 50 and GHS 1000, you will be charged 1% of the amount. For instance, if you want to withdraw GHS 400, you need to find 1% of GHS 400 ((1/100)*GHS 400) which is GHS 4. The simple way to calculate is to multiply the amount by 0.01, so 0.01*400 is 4.
- Finally, for any amount more than GHS 1000, the withdrawal fee is GHS 10. This is also fixed, so if you want to withdraw GHS2500, you will be charged GHS 10 as a withdrawal fee.
Some amounts and their withdrawal charges
|GHS 10||GHS 0.50||GHS 10.50|
|GHS 20||GHS 0.50||GHS 20.50|
|GHS 50||GHS 0.50||GHS 50.50|
|GHS 60||GHS 0.6||GHS 60.60|
|GHS 100||GHS 1.00||GHS 101.00|
|GHS 200||GHS 2.00||GHS 202.00|
|GHS 250||GHS 2.50||GHS 202.50|
|GHS 500||GHS 5.00||GHS 505.00|
|GHS 1000||GHS 10.00||GHS 1010.00|
|GHS 2500||GHS 10.00||GHS 2510.00|
MTN Mobile Money ATM Withdrawal Charges in Ghana
If you prefer to withdraw from an ATM using an ATM token instead of an agent, note that the charges are the same as withdrawing from an agent. However, you are limited to only GHS 400. Meaning you can only withdraw an amount not more than GHS 400.
The charge for an ATM token below GHS 50 is GHS 0.5, and an amount more than GHS 50 up to GHS 400 is 1% of the amount. Meaning you’ll multiply the amount by 0.01.
MTN Mobile Money has advanced to become the commonly used mobile money service in Ghana after its launch in 2009 by MTN Ghana.
MTN MOMO New Charges In Ghana 2021
The new 1.75 percent MOMO charge, which takes effect on 1 February 2022, will apply to all transactions involving mobile money, bank transfers, remittance and all other money transfers operating in the FinTech industry of Ghana.
MTN MoMo Cash-out has increased, and to the general public, please take note of these new changes of mobile money service charges. This shall cover everything about MTN MoMo to Vodafone cash charges, MTN MoMo charges in Ghana, MTN Mobile Money charges, Ghana MTN MoMo transfer charges, MTN mobile money charges 2021 Ghana, MTN MoMo cash out charges in Ghana.
You can also read our full guide on how to withdraw MTN Mobile Money from ATM In Ghana today.