Enter your email address below and subscribe to our newsletter

Latest Update on How to Use MTN MoMo in Ghana for Payments, Loans, and Savings

By Oluchukwu Ikemefuna

Share your love

MTN MoMo, or MTN MoMo, has revolutionized how Ghanaians handle transactions, making it incredibly easy to manage finances on the go.

Picture Source: MTN Mobile Money Official Website

In this article, we’ll explore the latest updates on using MTN MoMo for payments, loans, and savings. 

With its straightforward approach and user-friendly features, MTN MoMo simplifies the way Ghanaians handle their money, ensuring convenience and efficiency every step of the way. 

Let’s delve into the details and discover how you can leverage MTN MoMo to streamline your financial activities.

What is MTN MoMo?

MTN Mobile Money, or MoMo is a secure electronic service that empowers MTN Mobile Money wallet holders to manage funds, conduct transactions, and make payments seamlessly through their mobile phones.

It offers a fast, simple, convenient, and cost-effective solution, available in partnership with over 10 leading banks across multiple countries in Africa.

How does MTN MoMo work?

MTN Mobile Money securely stores funds in an electronic account linked to an MTN mobile phone number. Before sending funds, it’s important to ensure that the recipient has a registered MTN Mobile Money account.

Picture Source: MTN Instagram Page

For detailed information about the services offered through MTN Mobile Money in specific countries, individuals can visit the MTN website or consult one of their dedicated agents.

How is MTN MoMo used?

MTN Mobile Money wallet holders can leverage their mobile money account in various ways, including:

  • Receiving and safely storing money
  • Sending money to any MTN mobile phone user, regardless of registration status
  • Sending money to mobile phone users on other local networks
  • Withdrawing cash from any authorized MTN Mobile Money agent
  • Topping up MTN airtime
  • Settling bills
  • Purchasing and paying for insurance
  • Handling payments for employee salaries, airline tickets, school fees, and various goods and services.

Tuition payment

MTN MoMo has made paying school fees easier. Follow these steps:

  1. Dial *170#
  2. Choose MoMoPay and Pay Bill (Option 2)
  3. Select Bill Payments (Option 2)
  4. Choose school fees (Option 3)
  5. Find your school by selecting either Alias or Name
  6. Enter the alias or name
  7. Input your MoMo PIN
  8. You’ll receive a notification after the payment is successful.

Purchase Treasury bills

You can use your MTN MoMo account to buy Treasury bills. Follow these steps:

  1. Dial *170#
  2. Choose Financial Services (Option 5)
  3. Select Pension and Investments (Option 4)
  4. Pick Buy Treasury Bills (Option 2)
  5. Select Apply (Option 2)
  6. Choose the Tenure
  7. Enter the amount you prefer
  8. Select or approve your next of kin
  9. Proceed with payment by selecting Option 1
  10. Enter your MoMo PIN

You will receive a confirmation alert if the transaction is successful.

Withdrawing money from an ATM using your MoMo wallet

Using your MoMo wallet to withdraw money from an ATM is easy with MTN MoMo. Here’s how:

  1.  Dial *170#
  2. Choose option 5: Financial Services
  3. Select option 1 for Banking Services
  4. Press 3 for ATM cash out
  5. Choose 1 to generate a token
  6. Enter your 4-digit Security Code
  7. Input the amount you want to withdraw
  8. Enter your MoMo PIN
  9. Once the transaction is done, you’ll receive a confirmation message.

Move cash from your regular bank account to your Mtn MoMo Ghana wallet

You can move money from your bank account directly into your MoMo account. Follow these steps:

  1. Dial *170#
  2. Select “Financial Services” 
  3. Press 1 for “Banking Services”
  4. Choose “Bank Transfer” and pick your Bank
  5. Confirm the account you’re sending from
  6. Input the amount
  7. Enter your MTN MoMo PIN
  8. You’ll receive a confirmation once the transaction is complete.

Paying for Electric Bills with MoMo

Paying your electricity bills with MoMo is simple with MTN MoMo Ghana. Here’s how:

  1. Dial *170#
  2. Press 2 for MoMoPay and Bill Payment
  3. Select 2 for Bill Payment
  4. Enter 1 for Utility Payment
  5. Then press 1 for ECG
  6. Input the account number and the amount
  7. Once you’ve entered your MM PIN and verified your payment, you’ll receive a confirmation message.

Methods for changing your MoMo password (PIN reset)

Here’s how to change your MoMo password (PIN reset):

  1. Keep your MTN MoMo PIN safe, just like any other sensitive information.
  2. If you suspect your MoMo PIN has been compromised, you can reset it.
  3. Follow these steps:
  •    Dial *170# on your MTN phone.
  •    Choose “My Wallet” (Option 6).
  •    Select “Change & Reset PIN” (Option 5).
  •    To reset your PIN, pick “Reset PIN” (Option 2).
  •    Confirm your PIN and register by choosing “yes,” usually the first option.

That’s it! Congratulations! You’ve successfully updated your Ghana MTN MoMo PIN.

MTN MoMo Pay: How to use it

Start using MoMoPay for your payments to skip waiting in lines, filling out paperwork, or handling physical currency.

Here’s how to use MoMoPay:

  1. Dial *170#
  2. Select option 2 for MoMoPay & Pay Bill
  3. Choose 1 for MoMoPay
  4. You’ll need the merchant’s ID (different from their wallet number). The merchant will provide this upon request.
  5. Enter the Merchant ID.
  6. Input the amount to be paid.
  7. Add your reference.
  8. Before confirming, you can see the full name of the merchant.
  9. Enter your Mobile Money PIN after verifying the merchant’s name.
  10. Both you and the seller will receive confirmation of the successful payment.

Using MTN MoMo Ghana for Water Bill Payment: Steps to Follow

To pay your bill or check your statement with MTN MoMo, just follow these steps:

  1. Dial *170# and select the second option, “MoMo Pay/ Pay Bill.”
  2. Choose “Count One: Basic Needs.”

Then, follow the instructions on the screen after selecting option 2 for the Water Bill.

Handling your ECG Postpaid account using MTN MoMo

To pay your bill or check your statement with MTN MoMo, just follow these steps:

  1. Dial *170# and select the second option, “MoMo Pay/ Pay Bill.”
  2. Choose option 1 for utilities.
  3. Next, select ECG and follow the on-screen instructions.

Using MTN MoMo to pay for DStv or GOtv subscriptions

To pay for your subscription using MTN MoMo Ghana, follow these simple steps:

  1. Dial *170# and select option 2 (MoMo Pay/Pay Bill).
  2. Choose “TV and Entertainment” from the menu.
  3. Select DStv or GOtv as the provider (option 1) and follow the on-screen instructions to complete your payment.

Getting a Loan with MTN MoMo Ghana

If you’re a regular user of MTN Mobile Money, you can easily apply for a short-term loan using the QWIKLOAN service on your mobile phone.

Here’s how to apply:

  1. Dial the MTN Mobile Money short code *170#.
  2. Choose Financial Services, then Loan, and select Option 1 to register and apply for a loan.

If your application is successful, you’ll instantly receive the money in your MTN MoMo wallet. This method of getting loans is quick, convenient, and doesn’t require any paperwork.

Things to Know about MTN QwikLoan

  • You don’t need any previous savings to access the loan.
  • You have 30 days to repay the loan.
  • The minimum loan amount is GHc 50, and the maximum is GHc 1000.
  • You can only have one loan at a time.
  • You cannot apply for a new loan if you haven’t paid the existing one.

Requirements for MTN Qwikloan

To qualify for the MTN Qwikloan in Ghana, you need to meet these requirements:

  • You must be 18 years and above.
  • You must own an MTN Ghana SIM card.
  • You need to be an MTN service user for at least 90 days.
  • You must be an active user of MTN Mobile Money services.
  • Prospective applicants must have an active e-wallet.
  • If you’re a regular user of MTN QwikLoan services, you must have a good credit score and history.

Note: MTN won’t allow you to apply for another loan if you haven’t paid the outstanding one. Make sure to settle your loan before requesting another one.

How to Qualify for MTN Loan

Sometimes, even if you meet the requirements, you might still fail to access the facility. This could be due to late repayment of previous loans or not using your MoMo for transactions frequently.

To qualify for an MTN loan, use your number for transactions regularly and make sure to repay the loan on time when you’re finally eligible.


In conclusion, using MTN MoMo for various transactions, such as bill payments and subscription renewals, offers convenience and efficiency to users across Ghana. 

With just a few simple steps via the *170# shortcode, individuals can effortlessly manage their finances, settle bills, and enjoy uninterrupted services. 

Whether it’s paying utility bills, settling subscriptions, or conducting other financial transactions, MTN MoMo provides a user-friendly platform that enhances accessibility and streamlines the payment process.


Can I send MTN MoMo from Ghana to Nigeria?

Yes, International Transfers is a service that allows MoMo customers to send and receive money (cross-border payments) to their family, friends, and individuals within and across Africa.

How much is the MTN MoMo limit in Ghana?

The MTN MoMo limits in Ghana have been updated. The minimum account limit, previously capped at GH¢2,000, has now been increased to GH¢3,000. Medium accounts, previously set at GH¢10,000, will now have limits raised to GH¢15,000. 

Similarly, the threshold for enhanced accounts, previously at GH¢15,000, has been elevated to GH¢25,000 per day.

Can I receive MoMo from Nigeria to Ghana?

Yes, unlike Nigeria, the use of the mobile money wallet (MoMo) is quite popular in Ghana. Every Ghanaian has a mobile money wallet, making transactions in Ghana convenient. 


Latest Update on MTN MoMo Uganda Withdrawal Charges 2024

How to use MTN MoMo in South Africa 2024

Complete List of Important MTN USSD Codes in South Africa 2024

Share your love
Peremoboere Numa
Peremoboere Numa

Pere is a versatile SEO writer with a Master's degree in English, who is dedicated to creating engaging and impactful content.

She excels in weaving content that not only informs, enlightens and impacts but but also optimize its online presence to rank on major web sites.

Pere brings a unique blend of linguistic proficiency and SEO knowledge, ensuring that each piece she crafts leave a lasting impact.

Articles: 75

Newsletter Updates

Enter your email address below and subscribe to our newsletter

Stay informed and not overwhelmed, subscribe now!