How To Use Momo PSB And Make Money Fast

MTN Nigeria, Africa’s leading provider of telecommunication services, owns Yello Digital Financial Services, which runs the MoMo Agent service. Under the CBN Super-Agent framework and agent banking guidelines, YDFS is a financial service provider engaged in agency banking and super-agent operations. Among other services, YDFS offers an agent network to support financial institutions and mobile money operators in Nigeria.

Also read: SmartCash PSB how to guide, everything you need to know

Table of Contents

What are the service’s offered by Momo?

MTN Momo PSB offer’s many service’s which includes:

1. Cardless Cash Withdrawal

Dial *223# to Make cardless withdrawals with a MoMo Agent close to you.

Did you forget your Card? Or Need to Withdraw money from your account? Or Need to make a cardless cash withdrawal?

To find a MoMo Agent and conduct a cardless cash withdrawal, simply dial *223#. With the help of MoMo Agent Cash Withdrawal Services, you can securely and conveniently withdraw money from your account without a debit card. This The service is available across all banks in Nigeria.

Your maximum single transaction limit is ₦20,000 while your maximum daily transaction limit is ₦100,000 across all banks in Nigeria and there are also additional bank charge’s for withdrawal.

2. Bulk Disbursement

A company may send payments or other disbursements to people’s mobile phones thanks to a bulk disbursement service (B2C). You can now pay out money in “Bulk Disbursement” to millions of beneficiaries (including employees) using tens of thousands of Momo Agents all across the Country. Who Could Benefit From This Service? everyone who has a phone with an MTN SIM card. Receiving funds does not need the beneficiary to have a bank account.

The service is available to all public and private organizations and institutions (including non-profits) that plan to pay people in bulk. There is no maximum number of beneficiaries; the minimum is five customers.

What types of services are compatible with the bulk disbursement service?

Loan payment to the recipient in any location throughout Nigeria
insurance: adjudication of claims
Payroll for casual employees as well as company salaries.
Advertising compensation awarding winners with cash prizes
Small supply payments, petty cash, and daily wages are examples of business payments.
Annual company dividend distributions for publicly traded companies
Beneficiaries of Funds distributed by Government and NGO

3. Airtime and Data

Purchase airtime easily from MoMo Agents, Any MoMo Agent Outlet offers simple ways to buy airtime or data. You only need to give your phone number and the desired amount of cash to get started.

4. Deposits and Withdrawals

To contact a MoMo Agent and deposit or withdraw money, just dial *223#. You can easily and safely deposit cash into your account using the MoMo Agent Cash Deposit and Withdrawal services. All Nigerian banks can use this service.

5. Bill Payment

All you need to do is dial *223# to find a MoMo Agent and pay your payments. You may pay your bills securely and conveniently using MoMo Agent Bill Payment services. All Networks can use this Service.

6. C2C

Finding a MoMo Agent is as easy as dialing *223#, and you can give or receive money. You can send or receive money to and from a loved one in Nigeria securely and conveniently using C2C services.

What does MoMo Agent do?

A MoMo Agent is a neighborhood shop where you can visit to send and receive money anywhere in Nigeria. It is safe, fast and convenient. You can perform Cash2Cash transaction at a MoMo Agent outlet. Cash2Cash is a MoMo Agent service that allows customers of MTN to send and receive money from any part of Nigeria.

What services are available at a MoMo Agent?

At a MoMo Agent location, customers can conduct Cash2Cash transactions. Customers of MTN can send and receive money from any location in Nigeria via the MoMo Agent service Cash2Cash. Money can be sent and received by customers without them having a bank account. To send or receive money, all that is necessary is a trip to a MoMo Agent close by.

How can I locate a MoMo agent?

You can find a MoMo agent by dialing *223# and following the instructions. The names of the agents, along with their contact information, will be listed. It costs nothing to use this service.

How to get help from MoMo?

Call 180 to reach to customer care line. The customer service counter is open round-the-clock. An exclusive line on 182 is made available to agents.

what is momo agent

A MoMo Agent is a neighborhood shop where you can visit to send and receive money anywhere in Nigeria. It is safe, fast and convenient.

How to become a momo agent in Nigeria

Step 1: Check to affirm if you meet the requirements below.

Requirements for MoMo Agents

Have an existing business or willing to invest in agency business.
Have a Brick & Mortar/Immovable retail shop e.g. Pharmacy Pop & Mom Shop located in high foot traffic.
Viable means of identification (National ID, Driver’s License, International passport or Voters card).
Readiness to provide 1 passport photograph.
Capability to provide a Working Capital of N20,000 and above.

Step 2: Visit the nearest MTN outlet to pick up the form & submit your details.

Step 3: Click here to download the application form.

Step 4: Our field staff will contact you for a planned visit to ascertain your suitability.

How to become a MoMo Agent by Self Onboarding

Dial *502# with your MTN phone number.
You receive a prompt to approve your MTN SIM registration details to be used as your MoMo wallet ID KYC
Select 1 Yes to accept the T&C and to continue to the next step.
Create your 4 digit PIN as prompted.
Reconfirm your 4 digit PIN
Your new MoMo Agent wallet is created
You get USSD and SMS notifications confirming your new MoMo Agent wallet

How do I Send Money at a MoMo Agent?

Customer (Sender) approaches Agent to send money and hands over cash to agent.
Agent enters sender and receiver’s phone numbers and performs transaction
The Customer (Sender) receives a 6-digit secret code to be shared with the receiver for redemption while the receiver receives a different 6 digits token required at the point of redemption.
The sender informs the receiver to take both tokens to the nearest Agent for cash redemption.

How do I receive Money from a MoMo Agent?

The customer (receiver), gets a 6-digit code sent directly to his/her phone.
The customer (receiver) also gets a separate 6-digit code from the sender.
The receiver takes the 2 codes (12 digits) to a MoMo Agent and cash-out.

What if I lose my 6-digit secret code?

You can then call there call center agent on 180 to be guided on the 6-digit secret code regeneration process.

What if I lose my phone with my active 6-digit secret code in it?

Fortunately, the cash cannot be redeemed using just your 6-digit secret code, so you don’t need to be concerned. The receiver must provide both his and your 6-digit secret codes (which were provided by the system directly to the recipient’s phone) in order to redeem the cash. To replace your sim and receive a welcome back, you must, however, go to an MTN store.

Can I withdraw a portion of the money sent to me?

No, you have to withdraw the total amount sent to you.

Do I need to make a payment for receiving the cash?

Yes! You have to make payment for receiving cash.

Can I transfer money abroad/ do international transfer using MoMo?

No, the service is not available for international transfers. It only covers local transfers and open to MTN customers currently.

What is the minimum amount that I can be transferred using MoMo?

The minimum amount of money you can transfer using MoMo is ₦50.

How to fund my momo agent wallet

Go to your banking app and sign in with your details
Click on your transfer tab , click on other bank
Select access yellow and beta
Enter your MoMo account number
Make sure your name appears as the receiver
Click on “proceed”
Enter your pin and send

What is the code for MoMo Agent?

Locate or Visit MoMo Agent Nearest to You. To Locate Agent: Dial*223# Select 1 to locate Agent.

How to link momo to bank account in nigeria

First visit your bank and request for your account to be linked to your mobile money wallet bank account
Your account number and your mobile money number, your name and other important details will be requested from you.
You will be notified that your your bank account has been linked to your mobile money wallet.
Enter your pin to proceed and you are done.

MTN Momo agent salary

Your earnings on MoMo agent is based on commission, not on salary. The more transaction you perform as an agent, the more your commission will be.

How to send and receive money using MoMo?

5 Easy Steps to Send Money Through an MoMo Agent

Step 1:

Locate or Visit MoMo Agent Nearest to You.

To Locate Agent:

Dial*223#
Select 1 to locate Agent
Enter State
Enter LGA
The Address and Phone Number of the closest MoMo Agent is displayed.
Or
Look out for MoMo Agent Available Here Sign

Step 2: Handover Cash and receiver’s phone number to Agent.

Step 3: 6 digits control number will be sent to you once agent complete transaction. Another 6 digits will be sent to the receiver of the money.

Step 4: Communicate your 6 digits control number to the receiver of the money.

Step 5: Inform the receiver to locate the nearest agent and present the 6 digits control number to collect the money.

5 Easy Steps to Receiving Money