How to increase MOMO transaction limit
MOMO transaction limit, Mobile money, also known as MOMO, has become a vital aspect of everyday life for many individuals in Africa. MTN Mobile Money is a popular choice for millions of users in various African countries who use it for safe and efficient financial transactions.
As a precautionary measure, MTN has placed transaction restrictions on Mobile Money accounts to manage risk. Although helpful, these limitations can be inconvenient when it comes to sending or receiving significant amounts of money. Luckily, MTN provides a straightforward solution to this problem by allowing you to increase your transaction limit online.
Why Increase Your MOMO Transaction Limit?
1. Make Large purchases
2. Receive large amounts
3. Money Transfers
4. Business transactions
5. Make large purchases
The standard limits may be too low for big-ticket items. Increasing your limit lets you pay conveniently via Mobile Money.
Receive large amounts
You may need to receive payments above the limit for work/services rendered. A higher limit enables you to get the full amount in one transaction.
Money transfers
Standard limits may not suffice when transferring money to multiple people. Raising your limit lets you send cash to many recipients in a single session.
Business transactions
Companies relying on Mobile Money for payments and transfers require much higher limits.
Step-by-Step Guide to Increasing Your Limit
1. Log in to your account
2. Go to ‘Profile’ or ‘Account Settings
3. Select ‘Transaction Limit’
4. Choose ‘Increase Limit’
5. Enter the required information
6. Submit your request
7. Wait for approval
Step 1: Log in to your account
First, access your MTN Mobile Money account on the website or mobile app. Enter your registered phone number and PIN to log in.
Step 2: Go to ‘Profile’ or ‘Account Settings
On the dashboard, locate and click on ‘Profile’ or ‘Account Settings’. This opens your account details.
Step 3: Select ‘Transaction Limit’
Under profile or account settings, find and select the ‘Transaction Limit’ tab or link. This displays your current transfer limits.
Step 4: Choose ‘Increase Limit’
Look for and click on the ‘Increase Limit’ button or link. Choosing this option initiates your request to raise your transaction limit.
Step 5: Enter the required information
You will need to provide information like your national ID, passport, or driver’s license number for verification. Also submit supporting documents like payslips, bank statements, utility bills, etc. to confirm your income sources.
Step 6: Submit your request
Once you have filled in all the necessary personal and financial details, click ‘Submit Request’ to send your limit increase application to MTN.
Step 7: Wait for approval
Allow some time for MTN to verify your request and validate your documents. You will receive a notification once your higher transaction limit is approved and updated.
