Like any other financial service, MTN Mobile Money, or simply MoMo, of the largest telecom operator in Uganda, MTN Uganda Limited does charge fees when sending, receiving, or withdrawing money to facilitate the transfer to recoup operating expenses and make a profit.

In fact, in their latest half-year unaudited financial performance data released at the end of June 2023, MTN Mobile Money was among the highest revenue generators of the telecommunication firm after it grew by 18.6% to record 10.9 million MoMo customers who transacted Ush61.6 trillion within the period in consideration.

In the fiscal report that covered the first and second quarters evaluation, MTN Mobile Money accounted for 28.7% of the reported revenue, up from 27.8% in the first half of 2022, a big percentage of it coming from monies charged as transaction fees.

So what are MTN mobile tariffs in 2023?

MTN MoMo transaction fees, plus taxes 2023

Here are the latest (2023) MTN Mobile Money transaction costs in Uganda. They are the charges you incur as an MTN customer when you send money to another MTN user, MTN to other networks like Airtel, Uganda Telecom, Africell, M-cash, PayWay, and Eeezy Money, and when making withdrawals;

Amount Costs when sending to MTN users and other networks Costs when sending to bank accounts Withdrawal costs at MTN agent outlets Minimum withdrawal tax Maximum withdrawal tax
Ush500 – Ush2,500 Ush100 N/A Ush330 Ush3 Ush13
Ush2,501 – Ush5,000 Ush100 Ush1,500 Ush440 Ush13 Ush25
Ush5,001 – Ush15,000 Ush500 Ush1,500 Ush700 Ush25 Ush75
Ush15,001 – Ush30,000 Ush500 Ush1,500 Ush880 Ush75 Ush150
Ush30,001 – Ush45,000 Ush500 Ush1,500 Ush1,210 Ush150 Ush225
Ush45,001 – Ush60,000 Ush500 Ush1,500 Ush1,500 Ush225 Ush300
Ush60,001 – Ush125,000 Ush1,000 Ush1,500 Ush1,925 Ush300 Ush625
Ush125,001 – Ush250,000 Ush1,000 Ush2,250 Ush3,575 Ush625 Ush1,250
Ush250,001 – Ush500,000 Ush1,000 Ush4,100 Ush7,000 Ush1,250 Ush2,500
Ush500,001 – Ush1,000,000 Ush1,000 Ush6,150 Ush12,500 Ush2,500 Ush5,000
Ush1,000,001 – Ush2,000,000 Ush1,000 Ush9,250 Ush15,000 Ush,5,000 Ush10,000
Ush2,000,001 – Ush4,000,000 Ush1,000 Ush11.300 Ush18,000 Ush10,000 Ush20,000
Ush4,000,001 – Ush5 million Ush1,000 Ush11,300 Ush20,000 Ush20,000 Ush35,000

Note that taxes are automatically deducted from your MTN Mobile Money account as part of withdrawal costs. The minimum amount you can withdraw from your MoMo account is Ush500, and the maximum is Ush5 million, but the maximum account balance in one go is Ush20 million.