MTN Uganda reduces mobile money withdraw charges

MTN Uganda has reduced charges on withdrawing mobile money. The new charges were activated on November 2. 

According to the new rates, a person will be charged Shs450 to withdraw money in the range of Shs2501 to Shs5000. Before, the charge was Shs480.

For those withdrawing Shs5001 to Shs15000, the charges have been reduced from Shs770 to 750.

It's only people that will be withdrawing anywhere from Shs500 to Shs2500 that won't feel these changes since the fee has been maintained at Shs350.

Y'ello. Here are the new withdraw rates effective 2nd November 2020. Do not pay any Mobile Money agent after a transaction. Fees are deducted directly from your phone. Never share your PIN. Contact us here for assistance. #MTNMoMo pic.twitter.com/XTOF9wrbDD

— MTN Uganda (@mtnug) November 2, 2020

It is important to note that one can withdraw a maximum of Shs7 million and a minimum of Shs500.

MTN Uganda also noted that the 0.5% tax on mobile money withdraws will still be charged.