Mobile Money Ghana: A Guide to Using It

Mobile money in Ghana is a convenient way to send and receive money using your phone. You can use it to pay bills, buy airtime, and even transfer money to other mobile money users.

To get started, you'll need to register for a mobile money account with a network provider such as MTN, Vodafone, or Airtel. You can do this by visiting a provider's branch or using their mobile app.

MTN Mobile Money, for example, has over 10 million registered users in Ghana, making it one of the most popular mobile money services in the country.

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Mobile money has revolutionized the way we transfer funds in Ghana. With 40.9 million registered mobile money accounts and 17.5 million active accounts in 2021, Ghana has become the fastest-growing mobile money market in Africa.

You can send money from one mobile wallet to another with ease, making transactions almost effortless. Gone are the days of queuing in long lines at the bank.

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Mobile money is a secure way to transfer funds, as long as you have a personalized pin to protect your account. This means you no longer have to worry about your cash getting stolen.

Carrying a mobile phone is much more convenient than lugging around large sums of cash, which can be heavy and exhausting.

Digital platforms offer a convenient way to send money to an MTN Mobile Money account in Ghana. You can choose from various platforms like Remitly, which support transfers from dozens of countries worldwide.

Signing up on these platforms is usually a quick and easy process, and it's often free. You'll need to choose MTN Mobile Money as your delivery method and enter your recipient's mobile number and name.

Money sent through these platforms can arrive in Ghana in just a few minutes, and you'll get excellent exchange rates.

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Digital platforms offer a convenient way to send money to an MTN Mobile Money account in Ghana. You can use platforms like Remitly that support transfers from dozens of countries around the globe.

These platforms usually have a quick and easy sign-up process that's free. Once you've signed up, you can choose MTN Mobile Money as your delivery method and enter your recipient's mobile number and name.

The money normally arrives in Ghana in only a few minutes, which is impressive. With excellent exchange rates, you can make a bank or card transfer from your local currency to their MTN MoMo account in Ghanaian cedi.

WorldRemit is another excellent option for sending money to Ghana. It's a UK-based online remittance provider that offers a range of benefits.

Here's a comparison of some key features of digital platforms that support sending money to Ghana:

WorldRemit has an average cost to Ghana of around 4%, which is relatively low. It's also available in many major send countries, including the US, UK, and EU. However, it's not available in Turkey.

Using traditional players like Western Union or MoneyGram is another option for sending money to Ghana with MTN Mobile Money. They're a good alternative especially if you're sending from a smaller country not covered by digital providers.

Legacy platforms are usually more expensive than online platforms, but they still offer decent exchange rates. The cheaper option will depend on the amount you're sending and the country you're sending from.

Comparing money transfer providers before every new transfer to Ghana is a good idea. This will help you find the best option for your specific needs.

Western Union and MoneyGram are leading platforms in this category.

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If you're an MTN MoMo user in Ghana, you know how important it is to keep your PIN safe. You should safeguard your MTN MoMo PIN like any other sensitive information.

To change your MoMo PIN, the process is quite straightforward. Simply enter *170# on your MTN phone to begin.

You'll need to choose "My Wallet" at option 6, then "Change & Reset PIN" at option 5. This will take you to the PIN reset section.

To confirm your new PIN, go to "Reset PIN" under option 2, and then choose "yes" to register your new PIN.

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You can transfer money from your MTN mobile wallet to another MTN mobile money wallet without incurring any charges, but charges apply when transferring to mobile money wallets on other networks.

If you're transferring money within the MTN network, you can expect the following charges: amounts between 0.01 and 100 GHS are free, 101-999 GHS incurs a charge of 0.75%, and amounts above 1,000 GHS are charged at GHS 7.5.

To transfer money between MTN and other networks, you'll need to check the specific charges for each transaction. You can also transfer money to a bank account, but be aware that charges apply for amounts between 0.01 and 50 GHS (GHS 0.38), 50-1,000 GHS (0.75%), and above 1,000 GHS (GHS 7.5).

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Bank Transfer is a convenient way to move cash from your regular bank account to your MTN MoMo Ghana wallet. You can do this by dialing *170# and following the prompts.

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To initiate a bank transfer, you'll need to select "Banking Services" and then choose "Bank Transfer". You can then select the bank you want to transfer from. Make sure to confirm the account you're sending from and input the amount you want to transfer.

The charges for bank transfers vary depending on the amount you're transferring. For amounts between 0.01 and 50 GHS, the charge is 0.38 GHS. For amounts between 50 and 1,000 GHS, the charge is 0.75% of the amount. For amounts above 1,000 GHS, the charge is 7.5 GHS.

However, there's a catch - bank transfers are free when your mobile money number is linked to your Ghana card and bank account. You can link your MoMo number to your Ghana card at the nearest MTN office and your bank account at your bank's branch.

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You can withdraw money from an ATM using your MTN MoMo wallet, and it's a relatively straightforward process.

First, dial *170# to initiate the transaction. Then, follow the prompts to choose option 5 – Financial Services, press 1 for Banking Services, and press 3 for ATM cash out.

To generate a token, press 1, and then key in your 4-digit Security Code. Next, input the amount you intend to withdraw, and enter your MoMo PIN to complete the transaction.

Here's a summary of the steps:

Keep in mind that withdrawal charges may apply, depending on the amount you withdraw. Here's a breakdown of the charges: