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What Is MTN Mobile Money| How Does Mobile Money Work

mtn cameroon mobile money

MTN mobile money (simply called Mobile Money), is a free banking and cheap money transfer service offered by the MTN network to all its subscribers.

mtn cameroon mobile moneyThis MTN mobile money service makes it possible for the MTN clients to turn their MTN simcards in to their wallet i.e. after opening a mobile money account, the MTN clients will be able to deposit money in to their Mobile money accounts through their phone number just like they credit your airtime account.

mtn cameroon mobile moneyThere are lots of MTN mobile money agents  in the street, that makes it possible for the MTN mobile money clients to easily deposit money in to their Mobile money accounts and also withdraw money from their MTN Mobile Money accounts anytime they want.

Summarily after openning an MTN Mobile Money Account, you will be able……

  • – MTN Mobile money is the fastest and the cheapest means to  receive and send money across the Cameroonian territory. Sending and receiving money through MTN Mobile Money is as easy as sending and receiving airtime credit to your phone. You don,t need to go an MTN office in order to send money. You can simply do that by dialing the MTN Mobile Money Transfer code (just like you transfer airtime credit). In addition to that, the MTN Mobile Money rates (charges) are very cheap as compared to express Union, Western union and other money transfer agencies. So after opening an MTN Mobile Money account, you will see no reason to use the service of Express Union, Express exchange and Western Union to send money.
  • – You will be able to pay Eneo and Canal+ bills.  Have you ever wondered why for the past 3 years, you no longer stand in a long line for hours in your local Eneo office just to pay your electricity bill(s), its due to the fact that its now very posible to pay bills through the MTN Mobile Money. Eneo now accepts payment through MTN Mobile Money. So after creating an MTN Mobile Money account you will be able to pay  your Eneo Bills while lying on your couch.No need to go to an Eneo office again.
  • After opening an MTN Mobile Money account, you will able to buy online. Most online shops now accept payment through MTN Mobile Money. So after opening an MTN Mobile Money account, you will be able to buy any product from Jumia (Cameroon online shop) using the funds in your MTN mobile money account.
  • After opening an MTN Mobile Money account you will be able to buy airtime credit from MTN with the money in your MTN Mobile Money account.  Anytime you need airtime credit, you just need to buy it directly from MTN instead of wasting your time and energy going to an MTN Call box in the street. Even in the middle of the night, you will be able to buy credit from MTN. You won,t be charge for buying airtime credit instead you will be given free bonus credit in addition to your purchased credit.
  • – After creating an MTN Mobile Money account, you will be able to transfer money from your bank account(s) to your MTN Mobile Money accounts and vice versa.This will be very beneficial to the e-business men who use the MTN Mobile Money service as a payment solution on their Ecommerce website.
  • – You will be able to pay your Camrail train tickets
  • – You will be able to pay fuel and other purchases in fuel stations (MRS, Oilibya and Tradex)
  • – Buy goods in supermarkets (Arno, Mahima, Tsekenis, Lipacam)
  • – Settle hotel, café and restaurant bills
  • – Pay salaries. Most employers use the MTN Mobile Money to pay their employees
  • – Pay insurance premiums for funerals (NAF Mobile) etc etc

How to create (open) MTN Mobile money account.

MTN Mobile Money account requirements.

  1. An MTN phone number and a phone switched on
  2. A photocopy of your ID card , pass port , driver’s license or any legal identification document.
  3. Apart from those identification documents mentioned above, you will also need 300 FCFA for initial deposit. MTN Mobile Money Registration is suppose to be free but due to the fact that its not good to open an MTN Mobile Money Account with no money in it, most MTN Cameroon Mobile Money Agents will ask you to deposit atleast 300 in to your MTN Mobile Money account.

mtn cameroon mobile moneyTake those identification document and the 300frs (for initial deposite) to your nearest MTN service center or to any Mobile money agent in the street. It won,t take up 10 minutes for your MTN Mobile Money account to be created.

After creating your MTN Mobile Money Account, the Mobile Money Agent will ask you to enter your MTN Mobile Money pin.

Your MTN mobile money pin is a security code that protects your MTN Mobile Money account.

Make sure you remember your MTN Mobile Money pin code (the 5 digit number). It is very important when it comes to managing your Mobile money Account.


How to manage your MTN Mobile Money Account.

To manage your MTN Mobile Money Account, you will need to dial this MTN Mobile Money USSD code;*126*1# (using the phone or phone number that you use in opening your Mobile Money account).

 

After dialing that MTN Mobile Mobile Money USSD code, a list of options will automatically show up on the screen of your phone.

There are 6 options.

  1. If you wish to transfer (send) money to another person with an MTN mobile money account, Press 1.
  2. If you wish to pay your Eneo bill through MTN Mobile Money, Press 2.
  3. If you wish to Buy airtime credit from MTN with the money in your MTN Mobile Money Account, Press 3.
  4. If you wish to Change your MTN Mobile Money pin, Press 4.
  5. If you wish to check how much money you have in your MTN Mobile Money account, Press 5.
  6. If you wish to contact the mtn mobile money helpline to make inquiries about any problem(s) you are facing with your MTN Mobile Money account, Press 6.

 

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