How to Borrow MTN Xtra Float in Uganda

One of the considerable factors of being a MoMo agent is having at least UGX 2,000,000 as float on your SimCard. This requirement must be met at the beginning if you want to become an MTN MoMo agent.

To know more about the requirements needed to become an MTN MoMo agent, click here.

Just like you (MoMo subscribers) can get a loan Via MoKash after your credit is depleted, MTN Uganda has a new way of life for its partners too- the mobile money agents.  MTN Xtra Float is the new way for MoMo agents to get out of their float financial struggles.

MTN Uganda realized that its partners go through financial difficulties when transacting money.

Issues like Subscriber X requesting for a withdrawal of UGX 4,000,000 from agent Y, and getting the I don’t have enough float on my account. The customers feel frustrated and unserved and the agents make less money.

With all these difficulties, the service provider decided to come up with a solution called MTN Xtra Float.

What is MTN Xtra Float?

MTN Xtra Float is a borrowing platform for mobile money agents. This service helps MTN Mobile Money agents to borrow float and work on their customers effectively. It is a win-to-win situation for both the agent and the subscriber.

MoMo agents can always refill or borrow float and pay back later. However, there are tight oversights you need to know before getting this float loan.

Xtra Float – Terms of use

• MTN MoMo Agents can get Xtra Float worth UGX 50,000, 100,000, and 250,000 at a fee of UGX 300.
• Remember that the Float has to be paid back within 48 hours.

Here are the steps to follow in case you are an agent trying to acquire a Float loan;

Step-by-Step: How to borrow MTN Xtra Float

• Go to your Mobile Agent Menu
• Dial *165*5*4# and follow the prompts

ALSO READ: How to Get A Quick Loan Using Mobile Money In Uganda

Here is why you should choose MTN Xtra Float if you’re an agent

• Affordability: The service is affordable attracting a very small fee of UGX 300.
• Customized servicing: With this Xtra Float, the agent gets to serve his/her customers better ensuring business continuity and happy customers.
• No signing required: Accessing MTN Xtra Float is a simple process as there is no signing of documents needed.
• Convenience: The Agent gets it right on their phone instantly and conveniently.

Conclusion

The monopoly of giant telecom operators has been on the decline over the years. New companies have emerged and continue to give Ugandans service options. These options have enhanced creativity as a way to tap into the ever-demanding market.

We as a team at Ugtechmag are happy about this skyrocketing competition and hope for more innovations. That’s why MTN’s Xtra float is yours to stay in business, plus also serve your customers better. Don’t get frustrated or even send customers away- you don’t want to lose that extra money. Try the service today.