This is what happens when you send mobile money to a wrong number

This is what happens when you send mobile money to a wrong number

Mobile Money platform is undoubtedly one of Africa’s greatest contribution to the Fintech ecosystem with the inclusion rate of people from different backgrounds off the chart. The industry brought many new ideas and innovations that helped created jobs to majority of local individuals and start-ups ideas. For example, last year we reported about the status of MTN Mokash loan services which gave out over UGX 100 Billion as loans to its mobile money customers since the introduction. This and many other milestones are the reasons to celebrate the mobile money industry in the region.  

However, with success comes more responsibilities and we are noticing the changes in the wake of time. Recently, both MTN Uganda and Airtel Uganda revised their mobile money rates for reasons best known to the company than what the market entails and has done tremendously little effort to assure people what will happen whenever they make a mistake and send money to a wrong mobile money number. So hey, let’s do a short dive and tell you what happens when you do so.

So what really happens?

Mistakes are often costly and this is one of the topics both customers and telecom companies rarely engage one party or another until you made a mistake and looking for ways of reverting back your cash. Customers should be more careful and try as much as possible not to make a mistake since the mobile money platform has security features that prompts a user to confirm the name and amount before making a transaction.

However, in a more logical terms in any transaction, the charge on reversals when money is sent to a wrong number are always on the customers side . Many people have always had divided opinions on the matters ever since; some people feel it’s a total rip-off from companies to charge a fee for their mistakes and others rather feel happy to get a refund from their mistakes regardless of the charges.

From many past stories from customers, the charge of reverting back your cash for sending money to a wrong mobile money number has always been UGX 5,000 regardless of the amount sent and this apply to payments and other form of transactions. This charge makes no sense for those who make small transactions and those are the majority.

We weren’t able to get an official communication from the telecom companies on what they charge for the reversal fee but rather came to a conclusion from reading customers complaints on the subject and putting pieces of the puzzle together. You can go ahead and share with us your story or the hustle you went through to get a refund after making a mistake when using mobile money.

Here is tweet from an Airtel customer complaining about the charges for the reversal fee after he allegedly made payments to a wrong account.  

The post This is what happens when you send mobile money to a wrong number appeared first on Techjaja.

Source: TechJaja

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