International Remittances
International Remittances
At MoMo PSB, we understand the importance of staying connected with your finances, no matter where you are. Our remittance services allow you to effortlessly send and receive money across Africa, providing a seamless financial bridge between you and your loved ones
What We Offer
Inbound Remittances
Receive money from family and friends abroad directly into your MoMo wallet.
Outbound Remittances
Send funds to loved ones or business partners in other African countries.
Bill Payments
Pay your bills conveniently, whether they're local or international.
What We Offer
Inbound Remittances
Receive money from family and friends abroad directly into your MoMo wallet.
Outbound Remittances
Send funds to loved ones or business partners in other African countries.
Bill Payments
Pay your bills conveniently, whether they're local or international.
Benefits
Quick and Easy Transactions
Sending and receiving money is just a few taps away on your mobile device.
Affordable Rates
Enjoy competitive rates and minimal charges on all transactions.
Security Assured
With our strict compliance to AML and anti-terrorism laws, your transactions are always safe.
Transparent Currency Conversion
Get the best conversion rates with no hidden fees.
24/7 Customer Support
Our dedicated team is always here to assist you with any queries.
Frequently Asked Questions
What is Remittance on MoMo?
Remittance is a service that allows MoMo customers to send and receive money (cross border payments) to their family, friends, individuals within and across Africa.
What categories of remittance is available on MoMo PSB?
The categories of remittance services on MoMo PSB are: inbound remittance, outbound remittance, and bill payment services. These services are delivered in partnership with MFS Africa and Saana Capital LLC.
What is Inbound Remittance?
It is a service that allows MoMo PSB customers to receive money directly in their wallets sent by their families, friends, individuals from across Africa.
What is Outbound Remittance?
It refers to a service that allows MoMo PSB customers to send money from their wallets from their families, friends, individuals across Africa.
What is the Bill Payment services?
This is a service that allows MoMo PSB customers to make cross border payments for services or items purchased on platforms across Africa in favor of their families, friends, individuals across Africa. In the same vein, MoMo PSB customers can beneficiaries of such services, as facilitated by their families, friends, individuals.
Which Tier of MoMo PSB customer wallets can access these services?
Only Tier 2 and 3 Momo wallet customers can access this service, due to BVN/KYC being a requirement for inbound remittances. However, Tier 1 customers with Verified NINs can also receive. Please note that Agents and merchants are not allowed to receive inbound remittances.
Does the CBN Tier system apply to these services?
Yes, the subsisting Tier system of the CBN applies to these services; as such, customers shall only be able to send and receive cross border payment across Africa based on the Tier levels of their wallets.
What are the charges applicable for these services?
Service TypeCharge to MoMo PSB customerRemarks
| Inbound Remittance | Zero charge to MoMo PSB customer. | Sender Pays based on prevalent rates payable in local currency of the sender, as agreed with partners |
| Outbound Remittance | 3% of the transaction value, payable in NGN, based on prevalent rates, or as agreed with partners. | |
| Bill Payment (receiving) | Zero charge to MoMo PSB customer. | Based on prevalent (FX) rates payable in sender’s local currency, or as agreed with partners |
| Bill Payment (paying) | N100 + 4% of transaction value, payable in NGN, as agreed with partners |
As a MoMo PSB customer, what types of services are available on the cross-border Bill Payment category?
The following services shall be available:
- Airtime and Data bundles
- Cable TV subscriptions
- Electricity subscriptions
- Payment for online marketplace purchases
Are all the cross-border remittance services currently available on MoMo?
No, only the Inbound remittance is currently available. Outbound remittance and Bill payment shall be available in near future and more information updated on the FAQ.
Will I get a credit alert as a receiver?
Yes, a MoMo customer would receive credit alert whenever he receives inbound remittance.
How will the sender know that the payment is successful?
The sender would also receive a notification from his channel once transaction is successfully completed.
How will the sender know that the wallet phone number belongs to me?
The sender shall be able to validate the identity of the wallet holder before completing the transaction.
If I have limitation on single transactions on my wallet, how will the sender know my tier limit?
Based on the Tier limit of the CBN, the sender shall be able to receive notification, should s/he attempt to send an amount higher than the Tier limit of the beneficiary (MoMo customer).
Will I get the money in the local currency it was sent or in Naira?
A MoMo customer will receive the money in Naira
How will I resolve a situation whereby the sender has been debited but the receiver did not get the money?
The sender and receiver can contact their respective customer support channels as follows:
Sender: Applicable channels, as provided by MFS Africa.
Beneficiary: By calling 671 or MoMo PSB WhatsApp no: 09030001782, or email: #[email protected]
Is MoMo PSB licensed by the CBN to provide international remittance services?
Yes, MoMo PSB received CBN approval to offer these services.
What is the process to send money from other African countries to MoMo customer in Nigeria?
The sender would need to interact with the designated channels in his/her country, then select Nigeria, provide phone number of the beneficiary, enter amount, and PIN.
Do I need to opt-in to use the service as a sender or receiver?
No. You can simply access the services from the designated channels.
Which countries can I receive money from?
A MoMo customer can receive money from Rwanda, Uganda, Zambia, and South Africa. Other corridors would be added soon.
Which countries can I send money to?
Coming soon…..
How safe is the service?
The service is safe, secure, and convenient.
How does MoMo ensure compliance with AML and other Anti-Terrorism laws in Nigeria?
The services are delivered in strict compliance to subsisting AML/CFT and other anti-terrorism laws in Nigeria and Africa.
Will EMT levy be applicable to the money received via inbound remittance?
Yes, a levy of N50 shall apply to all inbound remittances of N10,000 and above. As this is a standing fee by the CBN for all inward transactions of N10,000 and above.
Can I use my friend’s wallet to receive money?
Yes, you can provide your friend’s wallet/phone number to the sender, as may be preferred.
Who are the other partners involved in the remittance and bill payment services?
MoMo PSB is partnering with MFS Africa and Saana Capital LLC to offer these services.
What rate will be used for the currency swap and or conversion?
This shall be based on prevalent market rates, or as agreed by the partners.
How will I know when MoMo adds new countries for inbound or outbound remittance?
MoMo customers shall be duly informed via respective channels once new corridors are added to the services.
How can I upgrade my wallet to receive and transact more on MoMo?
You can upgrade your wallet by linking your BVN to your wallet, and/or providing additional KYC requirements, such as: validated proof of address and a government regulated means of identification.
