MTN Mobile Money is the safest way to send and receive money. This is the provision you will make in your account, which will then allow you to transfer money to a loved one and perform other Mobile Money transactions.
How does it work?
As regards the transfer of money, there are different types of transactions:
- Sending money to MTN Mobile Money customers: The holder of a Mobile Money account sends money to another mobile Money account holder via his phone or internet. Both parties will receive SMS confirmation informing them of the nature of the transaction as well as their respective balance.
- Sending money to a non-subscriber of MTN Mobile Money or having no phone: The holder of a Mobile Money account sends money to a non-Mobile Money account holder. The system will generate a reference or “Token” that will be sent to the sender. The latter will communicate it to the recipient of the money. The recipient will then go to a point of sale with this reference in order to withdraw the money.
- Cash-In: The process which consists of reloading your Mobile Money account from an authorised point of sale. The holder of a Mobile Money account goes to a Mobile sale point.
To send, dial * 126 # or access the Mobile Money menu from your myMTN app.
How does it cost
Also, sending money abroad from Cameroon, from your Mobile Money account is possible too (See Send money accross Africa).