Do you know you can receive money with your MTN sim card with your mobile number just like that, isn’t that awesome. you can also send money, pay bills, subscribe to your GoTV DStv and more, and also recharge your mobile phone this means of transaction is known as MTN mobile money.
MTN mobile money is easy, reliable, and secured to use, you don’t have to bother about using data to check your account balance, make transactions, and more.
In this tutorial on how to receive money in Nigeria using MTN mobile money you will learn how to activate your MTN Simcard for mobile money, you will also learn how to pay money into your mobile money account you will learn a lot.
We will make sure we make this tutorial very simple to understand, and most of our examples will have some virtual explanation such as images.
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Table of Contents
What is MTN mobile money
MTN mobile money is a secure electronic service that enables MTN users that have a mobile money wallet to do the same transactions as if they were using a bank mobile app or USSD code.
Yes, having an MTN mobile money is almost like having a mini bank where you have almost all the main banking features like storing funds, sending and receiving funds, paying bills, and doing other more features. all these transactions are reliable and secured.
Everything you need to know about MTN mobile money
MTN mobile money is available in Nigeria as well as 50 other countries but the little issues there is that most countries are not eligible to receive funds from other countries, we will talk about countries that are not restricted and the restricted ones too in this article.
Are you an MTN user but can’t activate your MTN mobile money wallet, do you want to start making transactions with your MTN sim card well it is pretty easy.
Note: This article is for all countries but majorly we will be talking about Nigeria
How to activate your MTN mobile money wallet
If you can’t send money or you don’t have any clue on how to send money, there’s what’s known as MTN MOMO agent, this agent is located around your location and their work are listed below
What do MoMo Agents do?
- Opening Cash2cash accounts. Cash2Cash is a MoMo Agent service that allows MTN customers to send and receive money from any part of Nigeria without going to the bank, owning an account number, memorizing any PIN. All that is required is a visit to any MoMo Agent near you to either send or receive money.
- Cash transfers
- Bill payments
- Airtime and data purchase.
Easy Steps to Send Money Through an MoMo Agent
Now that you have known a little about these agents and how do you locate them in your area to ease off the stress.
To Locate Agent:
- Dial*223#
- Select 1 to locate Agent
- Enter State
- Enter LGA
- The Address and Phone Number of the closest MoMo Agent is displayed
Now you can visit your agent and explain all that you want to do, but most times this agent won’t open some full details to you, why don’t I tell you some little things you need to know.
How does MTN Mobile Money work?
MTN Mobile money store funds on your secured electronic wallet linked to your MTN mobile number which means your phone number turns out to be your current account number, awesome right? Before sending funds, please check with your recipient that they have a registered MTN Mobile Money account.
MTN mobile money Registration
You can also register for the MTN mobile money in GTbank and any accredited MTN centers
You still have to meet a MOMO agent, so that your account will be floated, to have funds on your account you have to visit or call the MOMO agent office before you call an agent make sure you’ve met one in person. this is just like depositing money into your bank account you can’t do it without going to the bank, going to a POS office, or telling someone to transfer for you.
You still need an agent but before floating your account you need to activate mobile money on your mobile number and to do so you need to dial *502#
Activate your MTN mobile money using *502#

Dial *502# to pop out this prompt screen, note that if it is your first time carefully fill in the necessary details and make sure you choose your wallet security pin carefully.
If you watch the above image you will see that the options are numbered from 1 to 8 and you may know most of the option functions like number 1 for airtime top-up and number 8 for account setting like changing wallet pin. You can also check your balance and do a bank transfer.
How is MTN Mobile Money used?
MTN Mobile Money wallet holders can use features like:
- Receive and store money
- Send money to any MTN mobile phone user – registered or not.
- Send money to mobile phone users on other local networks.
- Withdraw cash at any authorised MTN Mobile Money agent
- Top-up MTN airtime
- Pay bills
- Buy and pay for insurance
- Pay employee salaries, airline tickets, school fees and other goods and serviThces.
How to check MTN mobile money Balance
From the above image after dialing *502# select number 5, type in your security pin, and wait, you will get an SMS with your balance and commission.
And you can also use your MTN mobile app for this transaction, all you need to do is get your MTN mobile app on your phone, we won’t be covering that topic here but you can use the comment section to ask us any related question.
The mobile app provides you with a virtual experience and it is the best way to view your balance as well as transaction rates. it provides you with an adequate way of controlling all of your mobile transactions.
Note: For all transactions, you will be charged for it, so expect it, it is normal in every banking transaction. these are some of the transaction charges:
- Phone-to-Phone money transfer – N10 (to a friend or merchant)
- Phone-to-Cash money transfer – 2% of transaction, N100 floor
- Cash-Out from Account – 1% of transaction, N50 floor
- Balance enquiry – N5
- Mini statement – N30 per request
- SIM swap (if needed) – MTN price for SIM swap
Can a Nigerian recieve money from abroad through MTN mobile money?
You have to meet your agent for that, I was supposed to receive some amount of money from a Ghanian dude, but any time he tries sending the money to me, he receives a prompt message with an invalid number. I suggest you see your agent in such cases like this.
But if you want to send it to someone who lives here in Nigeria you can successfully do that and more.
MTN mobile money international transfer
you can receive money from over 50 countries into your MTN Mobile Money wallet in these countries:
In conclusion
There are other applications out there that make this transaction easy and reliable but if you still have issues receiving the money you should visit your agent.
Any more questions should come in through the comment section and I will be available to answer all related questions there.
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