MTN Uganda Slashes Mobile Money Withdraw Charges - Newslibre

MTN Uganda Slashes Mobile Money Withdraw Charges

MTN Uganda has today announced the reduction of its Mobile Money withdrawal fees. The change took effect on Saturday 1st May 2021.This is a move that the company hopes will encourage for inclusiveness while also enhancing cashless trade.

The reduced withdrawal rates coupled with the Senkyu points that one earns when withdrawing money makes these the best and most affordable withdrawal rates in the country.

At a press conference held at Hotel Africana this morning to announce the new reduced Mobile Money withdrawal rates, Stephen Mutana, the General Manager of Mobile Financial Services at MTN Uganda said that this move is aimed at bolstering financial inclusion across the country and to further enhance the benefits customers get when they choose MTN MoMo.

“We appreciate that many people rely on MTN MoMo to facilitate various aspects of their lives and therefore believe that this reduction in withdrawal fees increases the benefits that have made mobile money such a transformative service over the years,” Mutana said.

MTN Uganda Slashes Mobile Money Withdraw Charges - Newslibre
Steven Mutana the GM Mobile Money Services spoke about how they want to encourage cashless transactions as MTN Uganda

He also noted that overall, the  agenda of Mobile Money is to promote a cashless economy and advance the numerous benefits that come with a digital life.

“Therefore, by making Mobile Money fees more affordable, we as a country can easily move towards achieving a safe, efficient and affordable way of putting money in the hands of millions of Ugandans,” Mutana said.

What else is there for MTN Uganda Customers?

In addition to the reduced rates, MTN Uganda customers have the unique opportunity of getting MTN Senkyu loyalty points when they deposit, send, and withdraw MTN Mobile Money. For every UGX 5,000 deposited on MTN MoMo, a customer gets one Senkyu point and two Senkyu points for every UGX 100 a customer is charged when they send or withdraw mobile money. This is a unique benefit available to only MTN Uganda customers.

MTN Uganda Slashes Mobile Money Withdraw Charges - Newslibre
Here are MTN Uganda’s new Mobile Money charges as the company makes big cuts.

Mutana encouraged all MTN customers to keep transacting using Mobile Money but cautioned them to beware of conmen by keeping their MoMo PINs secret among other precautions.
The new MTN MoMo withdrawal rates below are applicable at all MTN MoMo agent outlets countrywide. For more information on this package, you can visit MTN Uganda

Additionally, when you paying for any goods using MTN MOMO, there are no charges implied on the customer which means that they are trading at zero cost.The general understanding that this would attract more people to trade using MTN MOMO but the traders are still adamant.

A customer is allowed a maximum of daily transactions worth up to Seven Million (7,000,000) while the account can receive up to a maximum of Fifteen million (15,000,000). The minimum transaction for any client is UGX50.

Also, read: Zimbabwe Selling Rights Allowing For Hunting of Over 500 Elephants

MTN Uganda Slashes Mobile Money Withdraw Charges 1

Author: Moses Echodu

Moses is an avid Sports and Tech enthusiast. He loves to keep up to date with all the latest information and research on some of the most compelling stories.

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