MTN Uganda Reduces Mobile Money Withdrawal Fees, Here Are the New Charges.

Stephen Mutana while addressing the press at the MoMo withdrawal price cut press conference (1)

As many people celebrate the end of the first quarter of the year and welcome a new month, MTN Uganda used the opportunity to reduce their mobile money withdrawal fees.

The new rates took effect effectively on Saturday 1st May 2021. In addition to the reduced rates, MTN customers have the unique opportunity of getting MTN Senkyu loyalty points when they deposit, send, and withdraw MTN Mobile Money.

There is a clear number of senkyu points you earn depending on the amount of money you withdraw. You used to earn senkyu points initially but weren’t clear to customers how much you earn base on your activity with different MTN Services but this helps shine a light on how you can earn the points. Below are how you earn points depending on the different services you use.

READ ALSO: How to Redeem Free Data, SMS, and Voice Bundles on MTN and Airtel in Uganda?

For every UGX 5,000 deposited on MTN MoMo, a customer gets one Senkyu point and two Senkyu points for every UGX 100 a customer is charged when they send or withdraw mobile money. This is a unique benefit available to only MTN customers.


At a press conference held at Hotel Africana to announce the new reduced Mobile Money withdrawal rates on Monday, Stephen Mutana, the General Manager of Mobile Financial Services at MTN Uganda said that this move is aimed at bolstering financial inclusion across the country and to further enhance the benefits customers get when they choose MTN MoMo.

“We appreciate that many people rely on MTN MoMo to facilitate various aspects of their lives and therefore believe that this reduction in withdrawal fees increases the benefits that have made mobile money such a transformative service over the years,” Mutana said.

Advertisement - Continue reading below

He further noted that the overall agenda of Mobile Money is to promote a cashless economy and advance the numerous benefits that come with digital life. 

New MTN Mobile Money withdraws  rates.

The new MTN MoMo withdrawal rates above are applicable at all MTN MoMo agent outlets countrywide.  Lets us know in the comment section your thoughts on the new mobile money withdrawal fees. If you compare with what Airtel Uganda charges, the MTN Uganda rates are pretty high even after the reduction but that’s a debate for another day.


Sign up to our Newsletter for expert advice and tips of how to get the most out of your Tech Gadgets

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.