MTN Mobile Money international transfer guide

MTN®¹ is Africa’s largest mobile network, serving over 292 million customers in 19 different countries. As well as offering mobile services, MTN also has a money service² which is used by close to 70 million people, and supports local payments and remittances. In fact, in 2022 alone, over 2.2 billion USD of remittances were processed by MTN.

This guide walks through how MTN Mobile Money (MoMo) works, where it’s available and how to use it. We’ll also touch on Wise as an alternative way to send money across borders with the mid-market exchange rate and low, transparent fees*.

What is MTN Mobile Money?

MTN Mobile Money, which is also known as MoMo, is the fintech platform provided by mobile network MTN, allowing eligible users to send local and international payments, get loans, buy insurance and access a wide range of other financial services.

To sign up, you’ll need an active phone number in one of the MTN Mobile Money supported countries, and the exact services you can access may depend on the country you’re based in.

For this guide to MTN Mobile Money international transfers, we’ll focus on the MoMo Uganda³ service as an example. However, if you’re registering with MTN Mobile Money from a different country, you’ll need to double check the local MTN website to get the full lowdown on your options.

How does MTN Mobile Money work?

MTN Mobile Money is a mobile wallet service which is available to active users of a smart device which has a MTN SIM and registration. To use MTN Mobile Money you’ll usually need to register, and you can then view the options available to you based on your specific location, in the MoMo app.

Some of the digital financial services available include in-store and digital payments, e-commerce, insurance, lending and remittance services. To access these services you’ll just need your phone - and in some cases you can also visit your local MTN agent if you’d rather transact in cash, to pay in or make a withdrawal from your account for example.

Fees apply to services, which vary based on your location - check out the key facts document for your specific country to get all the details⁴.

Which countries can you send money with MTN Mobile Money?

The countries you can send money to with MTN Mobile Money may depend on where you’re based. From Uganda you can send MoMo payments to regions including:

• East Africa
• South Africa
• West Africa
• Central Africa
• Asia
• Europe

Is MTN Mobile Money safe for international transfers?

Generally mobile money wallets like MoMo are safe to use as long as you comply with the provider’s guidelines. This may mean that you only send money to people you know and trust, for example, rather than for business transfers.

Double check all the local rules wherever you are - and before you send a payment be sure to check the recipient has a valid MTN mobile number as well.

How to send money abroad with MTN Mobile Money: step by step

Here’s an example of how to send money using MTN Mobile Money in Uganda. Before you can use the service you’ll need to sign up, providing your personal details and agreeing to the MTN terms and conditions⁵.

Bear in mind that the process may be different based on your specific device and where you’re sending to - check the local options wherever you are before you get started:

Step 1. Dial *165# on your MTN phone

Step 2. Select Send money and then Mobile User

Step 3. Enter the phone number of the person you want to send to

Step 4. Enter the amount and reason for sending

Step 5. Enter your PIN to confirm the payment

Step 6. You’ll get an SMS to confirm the money is on the way

Make low cost international transfers with Wise

A smart option if you’re sending money overseas: meet Wise.

Register a Wise account online or in the Wise app, and send money to 70+ countries, with the mid-market exchange rate and low, transparent fees.

Wise always shows you the amount you’re paying and how much your recipient will get — and you can even compare against other providers on the Wise app or desktop site.

If another service is cheaper for your particular payment, you’ll be shown — so you can’t lose.

Get started with Wise

Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information

How long do MTN Mobile Money international transfers take?

The time it takes for your payment to be deposited will depend on a number of factors including the transfer destination and value.

MTN Mobile Money international transfers fees and costs

You’ll be able to see the specific MTN Mobile Money international transfer fees based on your location, in the MTN app.

You’re likely to find there’s a transfer fee to pay when you send money with MTN, and if you’re sending for the payment to be received in a different currency, there may also be an exchange rate markup.

This is another fee which is included in the exchange rate used to convert your home currency to the one required for deposit. To spot this fee, you’ll need to compare the MTN exchange rate with the mid-market rate which you can find online or with a currency conversion tool.

To give an example, in December 2022, MTN Uganda announced that costs for payments overseas would be reduced to the following⁶:

• Transfer 1 UGX - 5,000 UGX: 100 UGX fee + any relevant exchange costs
• Transfer 5,001 UGX - 60,000 UGX: 500 UGX fee + any relevant exchange costs
• Transfer 60,001 UGX - 5,000,000 UGX: 1,000 UGX fee + any relevant exchange costs

While you’ll need to check your own location for details, in Uganda, which we’ve used as our example, there’s no fee to receive an overseas payment to your MTN Mobile Money account.

If you have a cell phone which is registered to one of the MTN networks - in Uganda or the other countries served by MTN and MoMo - you’ll be able to conveniently send payments with nothing but your phone.

Use this guide to start your research, based on the specific country your phone is registered in - and remember to take a look at Wise as an alternative for comparison, for sending, receiving, and holding a selection of global currencies.