Mobile Money is highlighted by three activities: Depositing, withdrawing cash, and paying bills. But mobile money withdraw is the most widespread of these. This is because majority of mobile money account holders flock agents frequently to transact their float into cash.
As of November 2019, these are the withdraw charges for MTN Mobile money and Airtel Money.
MTN MoMo withdraw charges
MTN Uganda accepts withdraws from as low as UGX 500 up to UGX 7,000,000.
Withdrawing between UGX 500 and 2,500 will cost you UGX 350; withdrawing between UGX 2,500 and 5,000 will cost you UGX 480; and withdrawing between 5,001 and 15,000 should cost you UGX 770. Withdrawing between UGX 15,000 and 30,000 will cost you UGX 970; withdrawing between UGX 30,000 and 45,000 will cost you UGX 1,350; and withdrawing between 45,001 and 60,000 should cost you UGX 1,650.
Withdrawing between UGX 60,001 and 125,000 will cost you UGX 2,150; withdrawing between UGX 125,001 and 250,000 will cost you UGX 3,950; withdrawing between 250,001 and 500,000 should cost you UGX 7,700; and withdrawing between UGX 500,001 and 1,000,000 will cost you UGX 13,750.
Withdrawing between UGX 1,000,001 and 2,000,000 will cost you UGX 18,500; withdrawing between UGX 2,000,001 and 4,000,000 will cost you UGX 25,000; and withdrawing between 4,000,001 and 7,000,000 should cost you UGX 25,000.
This all implies that withdrawing above the two million mark or between UGX 2,000,001 and 7,000,000 will cost a flat fee of UGX 25,000.
Airtel Money withdraw charges
Making an Airtel Money withdraw is a little cheaper compared to the MTN Uganda rates.
Withdrawing between UGX 500 and 2,500 will cost you UGX 330; withdrawing between UGX 2,500 and 5,000 will cost you UGX 440; and withdrawing between 5,001 and 15,000 should cost you UGX 700. Withdrawing between UGX 15,000 and 30,000 will cost you UGX 880; withdrawing between UGX 30,000 and 45,000 will cost you UGX 1,210; and withdrawing between 45,001 and 60,000 should cost you UGX 1,500.
Withdrawing between UGX 60,001 and 125,000 will cost you UGX 1,925; withdrawing between UGX 125,001 and 250,000 will cost you UGX 3,575; withdrawing between 250,001 and 500,000 should cost you UGX 7,000.
Withdrawing between UGX 500,001 and 7,000,000 will cost you UGX 12,500.
MTN MoMo vs Airtel Money withdraw charges 2019
| Amount Range | MTN Uganda charge | Airtel Uganda charge |
| 500 – 2500 | 350 | 330 |
| 2501 – 5000 | 480 | 440 |
| 5001 – 15000 | 770 | 700 |
| 15001 – 30000 | 970 | 880 |
| 30001 – 45000 | 1350 | 1210 |
| 45001 – 60000 | 1650 | 1500 |
| 60001 – 125000 | 2150 | 1925 |
| 125001 – 250000 | 3950 | 3575 |
| 250001 – 500000 | 7700 | 7000 |
| 500001 – 1000000 | 13750 | 12500 |
| 1000001 – 2000000 | 18500 | 12500 |
| 2000001 – 4000000 | 25000 | 12500 |
| 4000001 – 7000000 | 25000 | 12500 |
Mobile Money Tax
Note that withdrawing cash off your mobile money wallet calls for a 0.5% taxation. For instance, if you are withdrawing UGX 10,000 off your mobile money; you are charged the withdraw fee, and also get taxed UGX 50 for the transaction.
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