Deposits and Withdrawals – MoMoPSB (2024)

FAQs

What is MoMo psb in mtn? ›

Following the final approval for a Payment Service Bank (PSB) license granted by the Central Bank of Nigeria (CBN), MTN Nigeria's fintech subsidiary, MoMo Payment Service Bank (PSB), formally launched a range of financial services for Nigerians in May 17, 2022.

Use the MoMo app or dial _*120_*151# to transfer money from your MoMo account to a local bank account. A standard fee of 2% applies to each transaction. There are no monthly service fees, and you only pay for certain transactions.

The mobile money service provides users with a secure and straightforward way to handle their financial transactions, eliminating the need for traditional banking methods. MTN MoMo users enjoy the flexibility of conducting transactions anytime, anywhere, contributing to a seamless and efficient mobile money experience.

What are the transaction limits on the Momo PSB wallet? There are 3 tires of transaction limits: Tier 1-Maximum single deposit of N50,000 and maximum cumulative of N300,000. Tier2-Maximum single deposit of N200,000 and maximum cumulative balance of 500,000.

Tier 2 — Maximum single transaction limit of N200,000 and maximum cumulative balance of N500,000. Sending funds to family and friends with a MoMo wallet is through dialling *671*1*1*Phone Number#, then entering the amount and pin.

Yes, MTN MoMo service allows you to link your MoMo account with your bank account and perform transactions at your convenience.

To open a MoMo wallet, dial *671# using any mobile number, choose a four-digit pin and voila, you have successfully opened a MoMo PSB wallet and your phone number is now your account number. You'll be given a free N100 which you can instantly use to recharge or buy data directly from your momo wallet.

The minimum account, previously capped at GH¢2,000, will now have a limit of GH¢3,000, while medium accounts, previously set at GH¢10,000, will see their limits increased to GH¢15,000. Similarly, the threshold for enhanced accounts, previously at GH¢15,000, has been elevated to GH¢25,000 per day.

1. Dial *671# on your phone. 2. Use it to find a MoMoPSB nearby.

Dial *165# • Select FINANCIAL SERVICES. Select Transfer Money to Bank Account. Select option 1.

Is Momo in the USA? ›

Currently, Mo-Mo-Paradise can be found in Japan, Taiwan, China, Thailand, Vietnam, USA, Cambodia, Malaysia, and Indonesia.

About MoMo Payment Service Bank

MoMo Payment Service Bank (MoMo PSB) is the Fintech subsidiary of MTN Nigeria.

The current value of 1 MOMO is $0.00 USD.

What is MTN mobile money. MTN Mobile Money is a secure electronic service that enables MTN Mobile Money wallet holders to store funds, send and receive money, make payments and do a number of other transactions simply using their mobile phone. It's fast, simple, convenient and affordable.

With MoMoPay, your customers store money on their mobile wallet and use it to pay for goods or services purchased on your website. Available on Gateway only.

“MOBILE MONEY System” or “MOBILE MONEY” means the proprietary cellular phone money transfer service which is marketed, managed, and operated exclusively by MTN in the United Republic of Uganda.

SmartCash Payment Service Bank brings banking and financial solutions to your fingertips with real ease and lots of fun. Whether you are in the remotest community in the North or the furthest town in the West, it doesn't really matter as you can now transfer funds, receive funds and pay bills through your phone line.