MTN Uganda Mobile Money
MTN Uganda Mobile Money is a service that makes possible the use of money saved on a mobile wallet. It is one of the numerous services offered by MTN Uganda which is a subsidiary of the telecom giant MTN Group.
About MTN Uganda and MTN Group
The MTN Group Limited (MTN Group) launched in 1994 is a South African multinational telecom group that currently operates in 21 countries across Africa and the Middle East. The group has turned out to be the leading mobile operator in Africa with its total number of subscribers on the rise from 90.7 million in 2008 through about 232.6 million in 2018 to over 250.8 million since 2019. MTN Uganda launched in the country on October 21st, 1998 which was just six months after obtaining and signing its license. MTN operations in Uganda have since then propelled the company to the top as the leading telecom provider nationwide with over 3.5 million users. Offering over 300 jobs in Uganda, MTN makes use of its HR and infrastructure in providing 90% network coverage in urban areas. Its services equally extend to 150 villages and towns as well as their immediate neighbors.
Using MTN mobile money services in Uganda
Mobile Money by MTN is an electronic wallet service that enables you to send and receive money, and carry out other financial transactions anywhere in Uganda using your mobile phone. Two things are required to make this possible: an MTN smartphone or simple phone and an MTN SIM card to get your MTN Mobile Money account activated.
Baring in mind that not all MTN SIM card can support the service, the first step is to ensure your SIM can be used for mobile money. Authorized MTN mobile money agents can assist you in doing so by a SIM swap to upgrade your SIM card to one that is Mobile Money friendly. The agent will have you fill a registration form and will ask you a few questions. The process of creating your mobile wallet always requires the presentation of one of the following identification documents: Passport, Company ID, Driver’s Licence, Government ID, LC Certificate, Tax Certificate, or Voter’s Card. At the end of your registration, an SMS will be sent to you whereby you will be requested to create a 4 digit secret code. Upon completion of the steps listed so far, your MTN mobile money account will be created with a 0 Ugandan Shillings (UGX) balance.
Frequently asked questions (FAQ) on mobile money Uganda
- Can I use my account to receive money from abroad?
Yes, you can. There exist online international money transfer operators like TransferWise and Worldremit which makes foreign transactions possible. Their services work between Africa and countries like the UK, Canada, and the US. Each transfer is generally confirmed by the reception of a confirmation SMS by both the sender and the recipient.
- What limits apply to my account balance and transactions?
The major limits that apply to mobile money in Uganda are
| Minimum Sending Amount | 500 |
| Transaction Limit Per Day | 7,000,000 |
| Maximum Account Balance | 15,000,000 |
| Minimum Account Balance | 0 |
- What is mobile money services used for?
Every user can use their mobile money to;
• Send and receive money nationally and internationally.
• Borrow and save money.
• Deposit and withdraw from their bank account.
• Cash-out from ATMs.
• Pay telecom network Services, like bills and bundles.
• Pay for goods and services.