MTN MobileMoney: How to Register, Transfer and Receive Money in Nigeria via Phone

Since the start of CBN’s Cashless Policy in Nigeria, several banks have been emploring various means to make this policy a comfortable one. Thus, the introduction of Mobile Money. And one of these products is MTN MobileMoney. MobileMoney is the fast, safe, easy convenient and affordable way to send and receive money across the country and pay for goods and services using a mobile phone.
MTN MobileMoney is offered by partner banks such as Guaranty Trust Bank Plc (GTB), Fortis Micro Finance Bank and this is powered by MTN.

How to Register for MTN MobileMoney

1. Make sure your MTN SIM is registered. To confirm if it’s registered or not, type ‘reg’ in a text message and send to 789. You should receive a message confirming the status of your SIM registration
2. After confirmation, dial *500#. You will be asked to choose your bank. For example, GTB is 1, so press 1 if you’re using GTB and select Send.
3. Next, you’ll be asked few questions like ‘where were you born’, what is your home town’ and so on. Answer this question(s) correctly because anytime you forget your account PIN, these questions will be used to authenticate you before granting access to select another PIN.
4. If you’re successful, you should get a successful message like this (this will also be sent to you as a text message):

Registration complete. Your mobile Money TOKEN is 234803xxxxxxx. Dial *501# and enter this Token to set up your PIN

5. Usually, your mobile number should be your Token, write it down because you will need it to activate your mobile money account.

How to Activate Your MTN MobileMoney Account

1. To finally set up and get your PIN, dial *501#
2. You’ll be asked to enter your Activation Token. Press Answer and type your token.
3. Press Option and then select Send
4. Then you will be asked to enter your own PIN. Your PIN should be any four digit number, e.g. 1234. Enter this twice and you are set.
5. You will receive a welcome text message from Mmoney. Your MobileMoney account is ready for use.

How to Transfer Money with MTN MobileMoney to other MobileMoney Subscribers

• Dial *501#
• Select Send Money by typing 1 and send.
• Options 1,2,3 will be displayed
• Select Mobile User by typing 1 and send.
• Enter receiver’s mobile number
• Repeat the mobile number
• Enter the amount you wish to send
• Enter a reference, e.g. “Gift from Peter” (optional)
• Confirm the details supplied
• Enter your Account PIN
• You will receive a message on your phone confirming the completion of the transaction

How to Transfer Money with MTN MobileMoney to Non-MobileMoney Subscribers

• Dial *501#
• Select Send Money by typing 1 and send.
• Options 1,2,3 will be displayed
• Select others by typing 2 and send.
• From the display screen,
• Enter the amount you wish to send
• Select a four-digit secret code
• Repeat the secret code
• Confirm the details supplied
• Enter your Account PIN
• You will receive an SMS containing the secret code and a Token (a randomly generated twelve-digit number)
• Pass on the Token and the secret code to the receiver. Thereafter, the receiver goes to a MobileMoney Agent to cash out the money.

That is all. I hope you can now make use of this mobile money to send and receive money with your mobile phone to any one in Nigeria. If you like this post, help us share it with your friends on facebook and twitter.