Step 1: Link Your MoMo Wallet to Your Bank Account
Before initiating a transfer, ensure your MoMo wallet is linked to your bank account. This linkage can be done at your bank’s branch. Once linked, you can transfer funds directly without incurring additional charges.
Step 2: Initiate the Transfer
Option A: Using USSD (*170#)
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Dial
*170#on your MTN phone. -
Select 5 for Financial Services.
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Choose 1 for Bank Services.
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Select 1 for “Transfer to Bank”.
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Choose your bank from the list.
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Select the specific bank account you wish to transfer to.
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Enter the amount you wish to transfer.
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Confirm the details and enter your MoMo PIN to authorize the transaction.
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You will receive a confirmation message indicating the transfer status.
Option B: Using the myMTN App
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Download and open the myMTN App.
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Navigate to the MoMo section.
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Enter your MoMo PIN.
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Select Bank Services.
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Choose Transfer to Bank.
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Select your bank and the specific account.
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Enter the transfer amount and confirm the details.
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Authorize the transaction with your MoMo PIN.
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Receive a confirmation notification upon successful transfer.
Transfer Charges
If your MoMo wallet is linked to your bank account, transfers are free. If not linked, the following charges apply:ghanabusiness.net+3GH News Bank+3Tech Journal+3
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GHS 0.01 – GHS 50: GHS 0.38
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GHS 50 – GHS 1,000: 0.75% of the amount
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Above GHS 1,000: GHS 7.50MTN Help Center
Additionally, a 1% Electronic Levy (E-Levy) is applied to transfers above GHS 100.
Processing Time
Transfers are typically processed instantly but may take up to 24 hours, depending on your bank’s processing times.
Troubleshooting Tips
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Unsuccessful Transfers: If you encounter issues, ensure your MoMo wallet is properly linked to your bank account.
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Bank-Specific USSD Codes: Some banks have their own USSD codes for MoMo to bank transfers. For example, Ecobank uses
*170#followed by specific options. -
Technical Difficulties: If the transfer times out or encounters errors, try again later or contact MTN MoMo customer support for assistance.
Source: Thepressradio.com | Solomon Ogyem
