Here’s how much more you will pay in charges on MTN Momo from this month

Previously, MTN MoMo charged a 1% fee on all transfers. With the updated fee structure, transfers below GHC 1000 will now be free. For transfers of GHC 1000 or above, the 1% fee still applies.

Example: If you transfer GHC 1000, you’ll save GHC 10 as there’s no longer a transfer fee for this amount.

Changes in Cash-Out Fees on MTN Momo from March 2024

MTN MoMo has replaced some of its percentage-based cash-out fees with flat fees. Here’s the new breakdown:

Cash-out of GHC 50 and below: Remains GHC 0.50

Cash-out between GHC 50 – GHC 1000: Remains 1% of the amount

Cash-out between GHC 1000 – GHC 2000: Now 1% of the amount (previously a flat fee of GHC 10)

Cash-out of GHC 2000 and above: Now a flat fee of GHC 20

Let’s look at an example:

Cashing out GHC 1500: You’ll now pay GHC 20 instead of the previous GHC 15 fee, resulting in a GHC 5 increase.

The impact of these changes on your MoMo costs depends on your typical transaction amounts. In many cases, you might end up paying less, especially for smaller transactions. However, for larger cash-outs, you might see an increase in fees.