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How to make the most of MTN Zambia Mobile Money

MTN mobile money (Momo), is a mobile money transfer service from MTN Zambia. MTN is one of the leading mobile service providers in the field of telecoms in Zambia. MTN mobile money has grown from the status of being solely a mobile money transfer service to much more.

How to make the most of MTN Zambia mobile money

MTN mobile money (Momo), is a mobile money transfer service from MTN Zambia. MTN is one of the leading mobile service providers in the field of telecoms in Zambia. As of 2018, MTN had one million active subscribers using its mobile money transfer service. In this article, we cover the necessary information you need to have as a user and how to make the most of the service.

Some important information about Momo

MTN mobile money has grown from the status of being solely a mobile money transfer service to much more. The platform is secure and highly efficient. Subscribers can make bill payments, purchase items, make investments, and gamble through sophisticated systems with utmost ease.

Buy goods with MTN Zambia mobile money

Momo helps bridge the gap by enabling subscribers with perks they could only get from banks in the past – but missed out due to the difficulty in owning a bank account. All what someone needs in order to qualify for an MTN Momo account is an MTN sim card and a valid national identification card. Therefore, a work ID is not accepted valid identification – the standard is limited to NRC, drivers licence or passport. The registration process is quick and the account can start operating within minutes.

MTN Zambia mobile money is not a bank

Although bearing advanced features like a bank in some way, mobile money is not a complete replacement to the banking system. The platform is limited due to government instruments that regulate the financial institution and processes in the country.

Some of the limitations include but are not limited to how much money subscribers can transact in a day – or the maximum amount an account can hold. For example, K3,000 is the maximum amount a subscriber can transact in a day, while K5,000 is the maximum amount an account can hold. The regulations are in place to prevent money laundering because access to funds is instant, easy and ubiquitous thanks to agents.

Ways to access the service

You can access MTN Mobile money in Zambia through USSD or a mobile app. To access the service through USSD, dial the code *303# to interact with the onscreen options. Alternatively, you can access the service through the internet, download the MTN services app from the Android Play Store or iOS App Store.

ways to access mtn mobile money in zambia

MTN Zambia Mobile money charges

If you are an MTN subscriber, and an active mobile money user – you will want to know the transaction charges. However, the information is not that easy to find because subscribers are only notified when there is an adjustment. Therefore, most of the times, the most surefire ways to know the transaction charges are visiting an agent or attempting a transaction. Fortunately, you can find that information with ease right here because that is what we starting with.

Registered MTN Momo subscriber cash withdraw fees

Minimum withdraw

Maximum withdraw

Withdraw charge

K5

K150

K2.5

K150.01

K300

K5

K300.01

K600

K10

K600.01

K1,200

K20

K1,200.01

K3,000

K30

Sending money to registered MTN Momo subscriber transaction fees

Minimum send amount

Maximum send amount

Send charge

K5

K150

K0.25

K150.01

K300

K0.50

K300.01

K600

K0.80

K600.01

K1,200

K1

K1,200.01

K3,000

K2

Sending money to Non-MTN Momo subscriber transaction fees

Minimum send amount

Maximum send amount

Send charge

K5

K150

K5

K150.01

K300

K10

K300.01

K600

K15

K600.01

K1,200

K25

K1,200.01

K3,000

K35

There are no charges for deposits made on the mobile money platform. Similarly, the purchase of airtime is transaction or processing fee free. Furthermore, non-MTN Momo users withdraw for free because the sender is billed a for sending to a user not registered for the service. MTN also charges users processing fees for bill payments such as water, DStv, ZESCO etc. Below is the list of transaction fees for all services under bill payments on the mobile money menu.

Transaction fees for bill payments

Bill payment range

Bill payment charge

K0.001 – K150

K1

K150.01 – K300

K1.5

K301 – K600

K2.5

K601 – K3001

K3.5

Mobile money platforms such as MTN mobile money, Airtel money and Zamtel Kwacha have grown in popularity, because of the easy sign up process. That is why, we wrote a detailed article on most of the mobile services in Zambia. We wrote the article when our blog was in its infancy, so be sure to check it out because the information is of great value to this day. Back to the growing popularity of mobile money services, MTN has innovated more than its competitors. After recognising the growing number of people buying items online, MTN hit the innovation of a virtual debit card.

Mobile Money virtual Visa card

For those of you that like to make only purchases, you know the common annoyances that come with the trend. Imagine trying to buy something on eBay or Amazon when you don’t have money in your account but have cash – it is a bother.

Especially if the item you want to buy is on a bid or limited status. It is difficult to make it to the bank in time to make that necessary deposit. Usually banks are situated far from residential areas and one has to make the trip there to make a deposit.

In addition, banks have limited operating hours, and business hours end just when people make there. The disappointment is very disheartening for most. MTN realised this and came up with the solution – the MTN mobile money Visa debit card.

Creating your virtual Visa debit card

mtn zambia mobile money virtual visa debit card

Creating the virtual debit card on the platform is straightforward and instant. The card can be used to make purchases online just like a physical debit card and is widely accepted. Currently, the card can only be generated through USSD as the mobile app does not have the option enabled. To create the card, dial *303#, select option 7 (Banking services), select option 2 (Momo Visa Card), then select option 1 (Create Virtual Card). If successful, you will receive a string of three messages with your card details. The messages will read like something below:

You have successfully created a virtual card with a maximum transaction value of ZMW 10,000.00.

Y’ello. Your virtual card Last 4 PAN digits XXXX, Expiry 2020-03-20 and CVV 603.

Y’ello. Your virtual card first 14 PAN digits XXXXXXXXXXXXXX.

Bear in mind that the XXX in the messages example above represents numbers and have been placed there as fillers. Remember not to submit debit card number to anyone or attempt purchases on malicious websites. Although a good innovation, it is not clear how much MTN charges as a processing fee because – we have seen no extra charges when using the platform. For those that want to know more, simply visit the MTN Zambia website on www.mtnzambia.co.zm.

Key takeaways

  • MTN mobile money is a mobile money transfer service facilitated by MTN Zambia.
  • Registering for the service is quick and requires an NRC, passport or drivers licence
  • The service can be access by dialling *303# or through the mobile app
  • Maximum daily transaction limit is K3,000 and K5,000 is the maximum account balance
  • You can make bill payments for utilities like ZESCO and more
  • A virtual Visa debit card can be generated on money

Conclusion

MTN mobile money is a powerful mobile transfer service and is a great aid in the line of commerce. The service is available to both registered subscribers and non-registered subscribers as well as people on other networks. As a mobile telecommunications service provider, MTN has a wide network coverage and a strong presence. We hope you have enjoyed this article, we have more your reading appetite, make sure to click the bell icon for updates. Type your questions and contributions in the comments below.

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ADSource ZM is a Zambian digital technology publication. We are a team of free spirits with a passion for technology. We help people understand the technology they use in their everyday life.

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