If you are not pleased with the amount of transaction you can do in a day or a month, you can increase your MTN Mobile Money limit. In this new article, I will explain why there is the limit and how you can increase the limit.
Why The Transaction Limit
In Ghana, every institution that accepts ‘Deposits’ and approves ‘Withdrawals’ gets it’s operating license from Bank Of Ghana which the MTN Mobile Money system is no exception. This license comes with it’s rules and regulations. One of the rules is the transaction limit.
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The Transaction Limit
The MTN Mobile Money subscribers are categorized into 2 tiers depending on the information on your account on the system. Below are the transaction limit for the 1st tier.
- Daily Limit: GHS 2,000 (Meaning the amount that can leave your account within the day so whether you withdraw or send, it should sum up to this amount)
- Monthly Limit: GHS 20,000 (The total amount that can leave your account in a month. )
- Threshold: GHS 10,000 (Your Balance can’t exceed this amount)
Below are the transaction limits for the 2nd tier subscribers
- Daily Limit: GHS 5,000 (Meaning the amount that can leave your account within the day so whether you withdraw or send, it should sum up to this amount)
- Monthly Limit: GHS 50,000 (The total amount that can leave your account in a month. )
- Threshold: GHS 20,000 (Your Balance can’t exceed this amount)
With the above information, you will realize that the only way to increase MTN Mobile Money limit is to become a 2nd Tier subscriber. How do you do that?
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Requirements To Increase MTN Mobile Money Limit
For you to increase your limit, you simply have to update your KYC at any MTN Office. These are the requirements.
You provide one of the following documents with the ID Card you used in registering for the Mobile Money.
- Your Bank Statement not older than 3 months
- Utility Bill that has your name on it (Water bill or Light bill)
- Registered tenancy agreement that has your name on it.
- Employer’s Reference letter
Submitting any of the above documents with the ID card you used in registering for your KYC will increase in the limit of your account. The process should complete within 24hours.
Conclusion
Basically, MTN is not responsible for the transaction limit since it is also governed by the laws of the country. Even though some people would like to increase their limit further, unfortunately you can’t increase beyond the 2nd tier. You can also call 100 for further explanation.
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