Mobile money has become one of the most convenient ways to send and receive money today. Since its inception in 2009. it has been fully embraced by Ugandans generating millions in revenue for telecom companies. But as you send or transact through mobile money, most people look out for which telco has the least withdraw charges.
Also read: Why Airtel Money, MTN Mobile Money are now separate companies
This helps to save money for both sender receiver. At the onset of the pandemic, telecom companies like MTN and Airtel took the initiative to support their customers during the lockdown. They allowed customers to transact at zero rates on transactions during the coronavirus pandemic. This was a move to reduce expenses seeing as many were cut off from their sources of income during that time.
MTN MoMo vs Airtel money
One of the most frequent transactions are withdraws through mobile money. We compare the withdraw charges between telecom companies, MTN and Airtel.
| Min (UGX) | MTN rates (UGX) | Airtel rates (UGX) |
| 500 – 2500 | 330 | 330 |
| 2501 – 5000 | 440 | 440 |
| 5001 – 15,000 | 700 | 700 |
| 15001 – 30,000 | 880 | 880 |
| 30001 – 45,000 | 1,210 | 1,210 |
| 45001 – 60,000 | 1,500 | 1,500 |
| 60001 – 125,000 | 1,925 | 1,925 |
| 125,001 – 250,000 | 3,575 | 3,575 |
| 250,001 – 500,000 | 7,000 | 7,000 |
| 500,001 – 1,000,000 | 12,500 | 12,500 |
| 1,000,001 – 2,000,000 | 15,000 | 12,500 |
| 2,000,001 – 4,000,000 | 18,000 | 12,500 |
| 4,000,000 – 7,000,000 | 20,000 | 12,500 |
MTN MoMo
MTN Uganda announced the reduction of its Mobile Money withdrawal fees. The change took effect on Saturday 1st May 2021. The reduced withdrawal rates coupled with the Senkyu points that one earns when withdrawing money makes these the most affordable withdrawal rates in the country.
Read more: MTN reduces Mobile Money withdrawal fees
MTN however has higher charges than Airtel from the range of UGX 1,000,000 to UGX 7,000,000.
Airtel money
Airtel Uganda has a more competitive edge over MTN’s mobile money charges as they are maintained at UGX 12,500 for those withdrawing between the range of UGX 1,000,000 to UGX 7,000,000.
Read more: Airtel Money wins best prepaid initiative at PayTech Annual Awards