Mobile money has become the lifeblood of Ghana's economy. Whether you're a university student paying fees, a market woman receiving payments, or someone sending money to family in a different region, mobile money makes it possible instantly from your phone. No bank account needed, no long queues, no complicated processes.
This guide covers everything you need to know about mobile money in Ghana: how to register, understanding all charges, comparing the three major networks, avoiding common mistakes, and even how to become a mobile money agent if you're interested in that business opportunity.
What is Mobile Money?
Mobile money (MoMo) is a service that turns your phone into a digital wallet. You can store money on your phone, send it to others, pay bills, buy airtime, and withdraw cash—all without visiting a bank. In Ghana, the three main providers are MTN Mobile Money (the largest), Telecel Cash (formerly Vodafone Cash), and AirtelTigo Money.
The beauty of mobile money is its accessibility. You don't need a smartphone, internet connection, or bank account. Even the most basic phone with a SIM card from any of these networks can access mobile money through simple USSD codes.
The Big Change: E-Levy Has Been Abolished
Here's important news: as of April 2, 2025, the Electronic Transfer Levy (E-Levy) that charged 1% on mobile money transactions above GH¢100 has been abolished. This means you no longer pay that extra tax when sending money. You only pay the network's service charges, which we'll break down shortly.
This change makes mobile money significantly cheaper and has encouraged more people to use digital transactions instead of carrying cash.
MTN Mobile Money (MoMo): The Market Leader
MTN MoMo is Ghana's most popular mobile money service with over 15 million active users. If you're going to use mobile money in Ghana, chances are high you'll be using MTN.
How to Register for MTN MoMo
Registration is completely free and takes just a few minutes:
Method 1: Self-Registration (Easiest)
- Dial *170# from your MTN line
- Select option for "Registration"
- Follow the prompts to create your 4-digit PIN
- Confirm your PIN
- You'll receive an SMS confirming your registration
Method 2: Through an Agent
- Visit any MTN MoMo agent (look for the yellow MoMo signs)
- Provide your Ghana Card
- The agent will register you on the spot
- Create your PIN when prompted
- Registration complete
Important: You must link your Ghana Card to your MoMo account. Without this, your account has very limited transaction capabilities.
MTN MoMo Charges (2025/2026)
Understanding the charges helps you avoid surprises and save money.
Depositing Money: FREE Putting money into your MoMo wallet costs nothing, regardless of amount. Deposit GH¢10 or GH¢10,000—it's free.
Withdrawing Money (Cash-Out):
- GH¢1 to GH¢50: GH¢0.50 flat fee
- GH¢50 to GH¢2,000: 1% of the amount
- GH¢2,000 and above: GH¢20 flat fee
Example: Withdrawing GH¢500 costs GH¢5 (1% of 500).
Sending Money (MTN to MTN):
- GH¢1 to GH¢50: 0.5% of amount
- Above GH¢50: 1% of amount
Example: Sending GH¢200 to another MTN number costs GH¢2.
Sending Money to Other Networks (MTN to Telecel/AirtelTigo):
- Up to GH¢1,000: 0.75% of amount
- Above GH¢1,000: GH¢7.50 flat fee
Bank Transfers:
- FREE if your MoMo is linked to your Ghana Card and bank account
- If not linked: 1% of amount transferred
Bill Payments: FREE Paying for electricity, water, DStv, school fees, or any other bills through MoMo is completely free.
Reversing Wrong Transactions: FREE If you send money to the wrong number, you can request a reversal at no cost. Just act quickly.
MTN MoMo Transaction Limits
Your limits depend on your account type, determined by the information MTN has about you (KYC - Know Your Customer).
Basic KYC (Ghana Card only):
- Daily transaction limit: GH¢2,000
- Wallet balance limit: GH¢3,000
Enhanced KYC (Ghana Card + additional documentation):
- Daily transaction limit: Up to GH¢15,000
- Wallet balance limit: Up to GH¢50,000
To upgrade your account limits, visit an MTN office with your Ghana Card, proof of address, and next of kin information.
Telecel Cash (Formerly Vodafone Cash)
Vodafone sold 70% of its shares and rebranded as Telecel Ghana in 2023, but the mobile money service remains strong and now operates as Telecel Cash.
How to Register for Telecel Cash
Self-Registration:
- Dial *110# from your Telecel line
- Select "Register"
- Create your 4-digit PIN
- Confirm your PIN
- Registration complete
Through an Agent: Visit any Telecel agent with your Ghana Card for instant registration.
Telecel Cash Charges (2025/2026)
Telecel Cash maintains competitive pricing and offers some unique advantages.
Telecel to Telecel Transfers: FREE One of Telecel's biggest advantages—sending money between Telecel numbers costs absolutely nothing. No service charge at all.
Telecel to Other Networks:
- 0.5% service charge for inter-network transfers
Withdrawals:
- Similar structure to MTN: 1% for amounts under GH¢2,000
- Flat fees for larger amounts
Bank Transfers:
- Receiving money from your bank to Telecel Cash: FREE
- Sending from Telecel Cash to bank: 1% of amount
Bill Payments: FREE
Telecel Cash Transaction Limits
- Basic account: GH¢2,000 daily limit
- Enhanced account: Up to GH¢15,000 daily limit
- Wallet balance limits: GH¢3,000 to GH¢50,000 depending on account type
AirtelTigo Money
AirtelTigo Money operates similarly to the other services but has a smaller user base. The charges and processes mirror MTN and Telecel generally.
Registration and Basic Codes
- Dial *110# for the main menu
- Registration follows the same pattern: dial the code and follow prompts
- Requires Ghana Card linkage
Charges
AirtelTigo charges are competitive with the other networks:
- Intra-network transfers: Low percentage fees
- Inter-network transfers: Similar to MTN (around 0.75%)
- Withdrawals: Percentage-based, similar structure
Comparing the Three Networks
Here's how they stack up:
MTN MoMo:
- ✅ Largest user base (easiest to find people who use it)
- ✅ Most widespread agent network
- ✅ Generally reliable service
- ✅ Free bill payments
- ❌ Charges for MTN-to-MTN transfers (unlike Telecel)
Telecel Cash:
- ✅ FREE Telecel-to-Telecel transfers
- ✅ Strong customer service reputation
- ✅ Good network coverage
- ✅ Self-reversal feature for wrong transactions
- ❌ Smaller user base than MTN
AirtelTigo Money:
- ✅ Competitive charges
- ✅ Works well for basic transactions
- ❌ Smallest user base of the three
- ❌ Fewer agents compared to MTN
Which Should You Use? The honest answer: MTN MoMo for sure, and possibly Telecel Cash as a secondary option. MTN's dominance means you'll find agents everywhere and most people you need to transact with will have MTN. Having both MTN and Telecel gives you flexibility and access to Telecel's free intra-network transfers.
Common Mobile Money Mistakes to Avoid
Mistake 1: Sharing Your PIN
Never, under any circumstances, share your mobile money PIN with anyone. Not agents, not MTN staff, not even family. Legitimate transactions never require you to give your PIN to another person.
Scam Alert: Fraudsters often call claiming to be from MTN, saying you've won a prize or there's a problem with your account. They'll ask for your PIN or ask you to dial certain codes. Hang up immediately. MTN will never ask for your PIN.
Mistake 2: Not Linking Ghana Card
Without linking your Ghana Card, your account has severe limitations:
- Low transaction limits
- Cannot access certain services
- Restricted wallet balance
Visit an MTN or Telecel office with your Ghana Card to link it. It takes 5-10 minutes and dramatically improves your service.
Mistake 3: Ignoring Transaction Receipts
Always check the SMS receipt after every transaction to confirm:
- The correct amount was sent
- It went to the right number
- Your balance is what you expect
Catching errors immediately makes reversals much easier.
Mistake 4: Using Untrusted Agents
Some unscrupulous agents overcharge customers or manipulate transactions. Use only official agents with clear signage and proper identification. If an agent asks you to pay extra fees beyond what's automatically deducted from your wallet, report them.
Mistake 5: Forgetting Your PIN
If you forget your PIN, you'll need to visit an office with your Ghana Card to reset it. There's no instant online reset for security reasons. Write your PIN somewhere secure (not in your phone) or use a PIN you'll remember.
How to Become a Mobile Money Agent
If you're entrepreneurial and see mobile money as a business opportunity, becoming an agent can be profitable. Here's what you need to know.
Why Become a MoMo Agent?
Mobile money agents earn commissions on every transaction they process. In high-traffic areas, agents can make GH¢500 to GH¢2,000+ per month in commissions alone, plus profits from charging slightly above official rates (within allowed limits).
Requirements to Become an MTN MoMo Agent
1. Business Registration You need a registered business with a certificate from the Registrar General's Department or a business permit from your district assembly. Agents without proper registration aren't approved.
2. Ghana Card Your Ghana Card is mandatory for all agent applications.
3. Physical Location MTN requires a permanent or semi-permanent structure:
- ✅ Brick and mortar shops
- ✅ Container shops
- ✅ Defined semi-permanent structures
- ❌ Wooden kiosks
- ❌ Umbrella stations (space2space)
- ❌ Temporary structures
4. Strategic Location Your location should be:
- On a main road or high-traffic area
- Near markets, lorry stations, schools, or commercial hubs
- At least 50-100 meters from other MoMo agents
- In a safe, well-lit area
5. Startup Capital You need at least GH¢4,000 as working capital. This money stays in your MoMo agent wallet to facilitate customer transactions. The more capital you have, the more customers you can serve.
How to Apply for an Agent SIM
Method 1: Online Application (Recommended)
- Visit momomerchantapplication.mtn.com.gh
- Read and accept terms and conditions
- Create an account with username and password
- Log in and navigate to "Request SIM"
- Select "Merchant (MoMo Pay)" for agent services
- Complete the application form with:
- Business details
- Location information
- Ghana Card details
- Bank account information
- Upload required documents:
- Business certificate
- Ghana Card (front and back)
- Proof of address
- Passport photo
- Submit application
Method 2: USSD Application
- Dial *5051# from your MTN line
- Follow the prompts to register
- Provide all required information
- An MTN representative will contact you within 72 hours
Method 3: Visit an MTN Office Go to any MTN service center with all your documents and apply in person.
What Happens After Applying?
- MTN reviews your application (usually 2-5 business days)
- An MTN representative contacts you to schedule a site inspection
- They visit your location to verify it meets requirements
- If approved, you complete three forms:
- Merchant Recruitment Form
- Merchant Account Handler Form
- Merchant Agreement (Code of Ethics)
- Your agent SIM is issued within 72 hours after final approval
- You receive training on how to use the agent wallet
- You load your startup capital and begin operations
Total Timeline: 15-20 working days from application to approval, depending on how quickly you meet requirements.
How Much Do Agents Earn?
MTN pays agents commissions based on transaction volume:
Cash-Out Transactions (Withdrawals):
- GH¢0.40 per GH¢100 withdrawn
- Example: If you process GH¢1,000 in withdrawals daily, that's GH¢4 per day = GH¢120/month just from withdrawals
Cash-In Transactions (Deposits):
- Similar commission structure
Transfers, Bill Payments, Airtime Sales:
- Smaller commissions per transaction, but volume adds up
Additional Income: Many agents charge customers slightly above official rates (allowed within limits), adding to their profit margins.
Realistic Monthly Earnings:
- Low-traffic location: GH¢300-500/month
- Medium-traffic location: GH¢800-1,500/month
- High-traffic location (markets, stations): GH¢2,000-5,000+/month
Agent Business Tips
1. Maintain Adequate Float Always have cash and e-float (electronic money in your wallet) available. Running out of either means turning customers away.
2. Provide Excellent Service Fast, friendly service builds customer loyalty. Regulars are your most valuable asset.
3. Keep Accurate Records Track all transactions daily. This helps you reconcile accounts and spot discrepancies quickly.
4. Stay Secure
- Don't keep excessive cash at your location overnight
- Install security measures (cameras if possible)
- Work in a well-lit, visible area
- Never share your agent PIN
5. Educate Customers Help customers understand how mobile money works. This builds trust and encourages more usage.
Mobile Money Safety Tips
Protecting Your Account
1. PIN Security
- Never write your PIN on your phone or SIM card
- Don't use obvious PINs (1234, your birth year)
- Change your PIN periodically
- Never share it with anyone, ever
2. Transaction Verification
- Always verify the recipient's number before confirming
- Double-check amounts before sending
- Read transaction details carefully
3. Scam Awareness Common scams to watch for:
- Fake "you've won a prize" calls asking for PIN
- Someone claiming to be MTN/Telecel staff needing your PIN
- Messages saying your account will be blocked unless you dial a code
- Requests to send money to "verify" your account
Real companies never ask for your PIN or request money transfers to "verify" accounts.
4. Keep Your Phone Secure
- Use a phone lock (PIN, pattern, fingerprint)
- Don't leave your phone unattended
- If your phone is stolen, immediately call customer service to block your SIM
What to Do If Scammed
- Call customer service immediately (MTN: 100, Telecel: 111)
- Request account freeze or PIN change
- Report to police and get a report
- File a complaint with NCA (National Communications Authority)
- Never send additional money to "unlock" funds or for any other reason
Special Features Worth Knowing
MTN MoMo Loans
MTN offers instant loans through MoMo called "Qwikloan":
- Borrow GH¢20 to GH¢2,000
- Instant approval for eligible customers
- Repay within 1-30 days
- Interest applies, check rates before borrowing
- Access by dialing *170# and navigating to loans
Bill Payment Integration
All mobile money services let you pay bills instantly:
- ECG (electricity)
- Ghana Water Company
- DStv, GOtv, StarTimes
- School fees (universities and colleges)
- Insurance premiums
This eliminates the need to visit offices or stand in queues.
International Remittances
You can receive money from abroad directly to your MoMo wallet through partnerships with:
- WorldRemit
- Western Union
- MoneyGram
- Remitly
The sender abroad uses your mobile number, and money arrives in your wallet within minutes.
Final Thoughts
Mobile money has transformed how Ghanaians handle finances. Whether you're a student managing your SLTF loan disbursement, a market trader receiving payments, or someone sending money to family, understanding mobile money thoroughly makes your life significantly easier.
The abolition of the E-Levy in 2025 makes mobile money even more attractive. You're now only paying small service charges that are often outweighed by the convenience of instant, cashless transactions.
Key Takeaways:
- MTN MoMo is essential due to its widespread adoption
- Telecel Cash offers free intra-network transfers
- Always link your Ghana Card for full service access
- Never share your PIN with anyone
- Bill payments are free across all networks
- Becoming an agent can be profitable with proper setup
Whether you're a student, trader, or everyday person in Ghana, mobile money is no longer optional—it's essential. Master it, use it wisely, and you'll find financial transactions becoming simpler, faster, and more secure than ever before.