I've sent money to the wrong mobile number as a mobile money user, and it was a large sum of money. I am not alone, as most people have experienced the same thing. If you're lucky, the person to whom you sent the money will be able to reverse the transaction. But what if you enter the wrong digit and the money ends up in the hands of a complete stranger?
There is no doubt that the uncertainty about whether the funds can be recovered causes unnecessary stress. However, telecom companies have some solutions that may be of assistance. MTN Mobile Money Uganda is at the forefront of providing Kola reverse solutions.
You can now reverse any MoMo transaction using MTN Mobile Money's reversal feature, as long as certain conditions are met. To begin with, it will only work if the money has not been withdrawn from the recipient's account through a Momo agent or if the recipient has a loan with the company through Momo advance. MoMoAdvance allows MTN MoMo customers to access advanced Mobile Money funds to complete MoMo transactions and pay back later.
Previously, to reverse a transaction, one had to contact customer service or reach out to them via social media. MTN Mobile Money users can now view a list of their last three transactions by dialing *165*8*7#.
Alternatively, you can dial *165*8# and select Option 7 to initiate a reversal for the transaction you want to reverse as shown above don’t forget that transaction charges will still apply.
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