MTN MoMo rates flashugnews
How Uganda's leading mobile netwrok is making transactions easier and affordable. Photo/MTN Twitter

With the majority of Ugandans adhering to save their money on sim cards accounts in favour of banks as transacting is easily accessible, it is now going to become even more convenient for those making withdraws through MTN MoMo agent after the country’s leading mobile network reduced its rates.

Under the new MTN mobile money rates, a customer will find it very easy and even more money-saving while sending, receiving, and withdrawing as well as making payments through MTN MoMo.

How to use MTN MoMo works

For a customer using MTN MoMo to withdraw shs500 up to shs2, 500, he or she will be charged shs350.

From shs2, 501 to shs5, 000, they will pay a fee of shs480 while those making withdraws in the range of shs5, 001 and shs15, 000, a fee of shs770 will be charged.

Between shs15,001 to shs30,000, customers will be charged a withdraw fee of shs970, between the range shs30,001- shs45,000, they will be charged shs1350 while a charge of shs1,650 will be paid for any withdraws between shs45,001 – shs60,000.

MTN MoMo reduced rates flashugnews
How MTN is making transactions easier and affordable. Photo/MTN Twitter

The charges go on rising depending on the amount of money a particular customer is withdrawing for example in case one decides to withdraw money in the region of shs60, 001 to shs125, 000, he or she will pay a fee worth shs2, 150.

Shs3, 950 will be charged for any withdraw ranging from shs125, 001 to shs250, 000 while shs7, 700 will be charged for those ranging from shs250, 001 to shs500, 000.

For withdraws ranging from shs500, 001 to shs1, 000, 000, a fee of shs13, 750 will be charged.

Between one million shillings to two million shillings and upwards the charges were reduced up to nearly 50% discount with one now set to be charged shs18,500 for a withdraw ranging shs1, 000, 001 to shs2, 000, 000.

Meanwhile, from shs2000, 001 up shs7, 000, 000, a customer will pay a charged shs25, 000.

By John Dalton Kigozi