At MoMo PSB, we understand the importance of staying connected with your finances, no matter where you are. Our remittance services allow you to effortlessly send and receive money across Africa, providing a seamless financial bridge between you and your loved ones
Sending and receiving money is just a few taps away on your mobile device.
Enjoy competitive rates and minimal charges on all transactions.
With our strict compliance to AML and anti-terrorism laws, your transactions are always safe.
Get the best conversion rates with no hidden fees.
Our dedicated team is always here to assist you with any queries.
Remittance is a service that allows MoMo customers to send and receive money (cross border payments) to their family, friends, individuals within and across Africa.
The categories of remittance services on MoMo PSB are: inbound remittance, outbound remittance, and bill payment services. These services are delivered in partnership with MFS Africa and Saana Capital LLC.
It is a service that allows MoMo PSB customers to receive money directly in their wallets sent by their families, friends, individuals from across Africa.
It refers to a service that allows MoMo PSB customers to send money from their wallets from their families, friends, individuals across Africa.
This is a service that allows MoMo PSB customers to make cross border payments for services or items purchased on platforms across Africa in favor of their families, friends, individuals across Africa. In the same vein, MoMo PSB customers can beneficiaries of such services, as facilitated by their families, friends, individuals.
Only Tier 2 and 3 Momo wallet customers can access this service, due to BVN/KYC being a requirement for inbound remittances. However, Tier 1 customers with Verified NINs can also receive. Please note that Agents and merchants are not allowed to receive inbound remittances.
Yes, the subsisting Tier system of the CBN applies to these services; as such, customers shall only be able to send and receive cross border payment across Africa based on the Tier levels of their wallets.
Service TypeCharge to MoMo PSB customerRemarks
| Inbound Remittance | Zero charge to MoMo PSB customer. | Sender Pays based on prevalent rates payable in local currency of the sender, as agreed with partners |
| Outbound Remittance | 3% of the transaction value, payable in NGN, based on prevalent rates, or as agreed with partners. | |
| Bill Payment (receiving) | Zero charge to MoMo PSB customer. | Based on prevalent (FX) rates payable in sender’s local currency, or as agreed with partners |
| Bill Payment (paying) | N100 + 4% of transaction value, payable in NGN, as agreed with partners |
The following services shall be available:
No, only the Inbound remittance is currently available. Outbound remittance and Bill payment shall be available in near future and more information updated on the FAQ.
Yes, a MoMo customer would receive credit alert whenever he receives inbound remittance.
The sender would also receive a notification from his channel once transaction is successfully completed.
The sender shall be able to validate the identity of the wallet holder before completing the transaction.
Based on the Tier limit of the CBN, the sender shall be able to receive notification, should s/he attempt to send an amount higher than the Tier limit of the beneficiary (MoMo customer).
A MoMo customer will receive the money in Naira
The sender and receiver can contact their respective customer support channels as follows:
Sender: Applicable channels, as provided by MFS Africa.
Beneficiary: By calling 671 or MoMo PSB WhatsApp no: 09030001782, or email: #momopsboperation.ng@momopsb.com
Yes, MoMo PSB received CBN approval to offer these services.
The sender would need to interact with the designated channels in his/her country, then select Nigeria, provide phone number of the beneficiary, enter amount, and PIN.
No. You can simply access the services from the designated channels.
A MoMo customer can receive money from Rwanda, Uganda, Zambia, and South Africa. Other corridors would be added soon.
Coming soon…..
The service is safe, secure, and convenient.
The services are delivered in strict compliance to subsisting AML/CFT and other anti-terrorism laws in Nigeria and Africa.
Yes, a levy of N50 shall apply to all inbound remittances of N10,000 and above. As this is a standing fee by the CBN for all inward transactions of N10,000 and above.
Yes, you can provide your friend’s wallet/phone number to the sender, as may be preferred.
MoMo PSB is partnering with MFS Africa and Saana Capital LLC to offer these services.
This shall be based on prevalent market rates, or as agreed by the partners.
MoMo customers shall be duly informed via respective channels once new corridors are added to the services.
You can upgrade your wallet by linking your BVN to your wallet, and/or providing additional KYC requirements, such as: validated proof of address and a government regulated means of identification.