MobileMoney is a convenient, secure and
affordable way to send money to friends and family from your mobile
phones. A joint service provided by Guaranty Trust Bank (GTB) and
powered by MTN Nigeria, Mobile Money enables customers transfer
cash to any recipient in Nigeria, who does not have to be an MTN
customer or even own a mobile phone to receive the money!
MobileMoney MTN allows you to send and receive real money on your mobile phone, and cash-out at any participating agent or ATM unlike MTN Share and Sell Service which allows you to send MTN prepaid airtime to be used for voice calls and SMS.
The receiver can either retain the received money in a MobileMoney account (if he/she is a MobileMoney customer) or withdraw cash from any participating MobileMoney agent. You do not need a bank account to use MobileMoney.
You may use your existing MTN SIM card if it is MobileMoney compatible. The MobileMoney menu is displayed on all compatible SIMs via the MTN Services Menu on your phone irrespective of the type of phone you are using. If your SIM is not compatible; you may request for a SIM swap or purchase a new SIM.
What features are available with MobileMoney?
==> Load a MobileMoney scratch card into your MobileMoney account
==> Send and receive money from the convenience of your mobile phone
==> No need for a Bank account to send or receive money
==> Reach anyone in Nigeria; the receiver need not have a phone
==> Buy prepaid airtime for yourself and other customers
==> Manage your MobileMoney account
==> Withdraw cash at an participating agent or ATM
How To Get Started
Go to a nearby GTBank or a Mobile Money MTN agent to register for MTN Mobile Money.
For more info about MTN Mobile Money Transfer, check out MTN website
I hope this helps...