In our world today where there are long and almost stagnant/chaotic queues, not to mention the bank USSD codes and their network issues that disappoint when you need them most, comes a solution brought by MTN Yello Digital Financial Services (YDFS) in the form of MTN Mobile Money generally known as MoMo. In this article, we will take a peek into the world of MoMo agents, their commissions, and the essential USSD codes that enable customers to access a wide range of services.
MTN Mobile Money (MoMo) is an avenue created for MTN users to register and create for themselves a Mobile Money Wallet which can be used for financial transactions of all sorts. For example: transfer and deposit of money, payment of utility bills, purchasing of airtime or data, and more. Becoming a MoMo agent is quite easy and doesn’t take time not to mention that it’s free and a source of income through the commissions from transactions.
MTN MoMo agents
MoMo agents are individuals or businesses authorized by MTN to provide customers with a variety of mobile money services in and around your neighborhood.
MTN MoMo agent requirements
Some essentials need to be met to become a MoMo agent, they are:
- You need to have a registered business entity or be ready and able to invest in an existing business.
- You should have a physical location, preferably in a high-traffic area where you can serve a substantial number of customers.
- You’ll need to have a starting capital of N20,000 or more.
- You need a proper means of identification like a driver’s license, national ID card, or voter card.
- Lastly, you’ll need a passport photograph.
MTN MoMo agent registration
There a few ways to register, which are:
Step 1: Visiting The Nearest MTN Office Around:
- You can walk into any of the MTN offices close to you, pick up the agent registration form, fill it in with your accurate details, and also provide a passport photograph and proper means of identification, for anyone from the above listed.
Step 2: Using The USSD Code Made For Agent Registration:
- Open your phone, then dial the code *502# using your registered MTN number
- A cue will be sent to you for you to confirm the details of the SIM card to be used.
- Type 1 and send as an acceptance of the terms and conditions.
- Then you choose your PIN, reconfirm it, and generate your agent wallet.
- After following through all the procedures, a message will be sent to you to verify the creation of your agent wallet.
Step 3: Downloading The Form For Application:
- Log onto mtn.ng to download the application form.
- Once downloaded, print it out.
- Fill it out, then visit the nearest MTN office to inform them.
- After which you wait for an MTN field staff to get in touch with you to arrange a meeting to verify your eligibility
Code to liquidate MoMo commission
To liquidate your MoMo commission simply means turning your commission which is just seen as virtual figures into cash. The code to do this is: *502**00*9*5#
How to withdraw my MoMo commission
Withdrawing your commission is very easy but the very first step is to first link your MoMo wallet to your bank account and you do this by:
- Visit your bank’s nearest branch where you can request for your MoMo wallet to be linked to your bank account.
- Provide all information requested by your bank official
- Confirm your PIN and wait for it be completed by the bank official
- An SMS will be sent to you to inform you that the linking was successful.
After linking your MoMo wallet to your bank account, withdrawal can then be done by transferring from your wallet to your bank account. Here is a step by step breakdown of how to do the transfer.
- Dail *502# using the number registered on MoMo wallet,
- You’ll get a prompt, select “4” for financial services,
- Go on and select “1” for bank tranfers, then select “transfer to bank”,
- Then pick the linked bank account and then input the amount to be transferred,
- Finish up by inputting your MoMo PIN to complete the transfer.
- You’ll receive a prompt and then a confirmation SMS containing the details of your transaction.
MTN MoMo codes
Below are some other MTN momo USSD codes that could be helpful to you.
|For checking your wallet balance||*502*6*wallet pin#|
|For payment of bills||*502*5#|
|For changing your 4 digit pin||*502*00*9*2#|
|For adding your BVN||*502*00*9*6#|
|For transfer from your wallet to bank account||*502*4*1*account number#|
|For updating an alternative phone number||*502*00*9*4#|
|For asking for help||*502*00*9*7#|
|For checking your MoMo mini statement||*502*00*9*3#|
That how you can liquidate and withdraw your momo commission. if you have any question on regarding MTN momo codes in this post, feel free to leave a comment below and we’d be happy to help.