Mobile Money has become one of the most important financial tools in Ghana, powering everything from daily transactions to business payments. For millions of users, their mobile number is directly tied to their financial identity.

With the widespread use of Mobile Money services provided by MTN Ghana, questions often arise about account ownership—especially when a user wants to transfer a number to another person or change the registered owner of a Mobile Money (MoMo) wallet.

However, transferring ownership of an MTN MoMo account is not as straightforward as handing over a SIM card. Due to strict regulatory and security requirements, the process involves specific procedures designed to protect users and prevent fraud.

This ASJ editorial explains how ownership transfer works, what is required, and what users should know before initiating the process.

Understanding MTN MoMo Account Ownership

An MTN MoMo account is legally tied to the individual who registered the SIM card using valid identification.

This means:

• The account holder is the legally recognized owner of the wallet

• All transactions are linked to their identity

• Responsibility for account activity rests with the registered user

Regulations enforced by the Bank of Ghana and the National Communications Authority require Mobile Money accounts to be linked to verified personal identification.

As a result, ownership transfer is treated as a formal process rather than an informal arrangement.

Can You Transfer Ownership of an MTN MoMo Account?

Technically, MTN does not allow direct “transfer” of MoMo account ownership in the traditional sense.

Instead, what happens is a change of ownership of the SIM card, followed by re-registration of the Mobile Money account under the new owner.

This ensures that:

• The new owner’s identity is properly verified

• The account complies with regulatory requirements

• The previous owner is no longer legally responsible for the account

When Ownership Transfer May Be Necessary

There are several situations where transferring ownership becomes important:

• Selling or giving a SIM card to another person

• Business ownership changes (e.g., company lines)

• Family transfers (e.g., from parent to child)

• Loss of access to the original account holder

• Estate or succession arrangements

In all these cases, formal transfer procedures are required.

Requirements for Transferring Ownership

To initiate the process, both the current owner and the new owner must meet specific requirements.

Valid Identification

Both parties must present valid national ID, such as:

• Ghana Card

• Passport

• Driver’s license

Presence of Both Parties

In most cases, both the current and new owner must be physically present at an MTN service centre.

This helps verify consent and prevent disputes.

Active SIM Card

The SIM card must be active and functional before ownership can be transferred.

Cleared MoMo Balance

Before initiating transfer, the existing MoMo wallet should ideally be emptied or reconciled.

This ensures that no funds are left in the account during the ownership change.

Step-by-Step Process to Transfer Ownership

Step 1: Visit an MTN Service Centre

Go to an official service centre of MTN Ghana, especially in major cities like Accra.

Step 2: Request SIM Ownership Change

Inform the customer service representative that you want to transfer ownership of the SIM card.

Step 3: Provide Identification

Both parties will be required to submit valid identification for verification.

Step 4: Complete Required Forms

You will fill out official forms authorizing the transfer of ownership.

Step 5: Deactivate Existing MoMo Account

The current Mobile Money account linked to the SIM may be closed or reset as part of the process.

Step 6: Re-register MoMo Under New Owner

The new owner will register a new Mobile Money account using their own identification details.

Step 7: Activate and Verify

Once registration is complete, the new owner can activate the MoMo account and begin transactions.

Important Considerations Before Transfer

Funds Must Be Withdrawn

Before transferring ownership, ensure that all funds in the MoMo wallet are withdrawn or transferred.

Transaction History Is Not Transferred

The new account will not inherit the transaction history of the previous owner.

PIN and Security Reset

The new owner will create a new PIN and security credentials.

Legal Responsibility Changes

Once ownership is transferred, the previous owner is no longer responsible for the account.

Risks of Informal Transfers

Some users attempt to transfer ownership informally by simply handing over a SIM card.

This approach carries significant risks:

• The original owner remains legally responsible

• The new user may not have full control over the account

• Disputes can arise over transactions or funds

• Accounts may be blocked due to mismatched identity records

Formal transfer procedures help avoid these risks.

The Role of Regulation in MoMo Ownership

Mobile Money services in Ghana are tightly regulated to ensure financial security and prevent fraud.

Institutions like the Bank of Ghana enforce Know Your Customer (KYC) requirements, ensuring that every account is linked to a verified individual.

These regulations are essential for:

• Preventing financial crime

• Protecting users

• Maintaining trust in digital financial systems

Why Proper Ownership Transfer Matters

As Mobile Money continues to grow in Ghana, proper account ownership becomes increasingly important.

For individuals, it ensures financial security and control.

For businesses, it supports transparency and accountability.

For the broader economy, it strengthens trust in digital financial services.

Conclusion From ASJ

Transferring ownership of an MTN MoMo account in Ghana is a structured process that involves changing SIM ownership and re-registering the Mobile Money account.

While it may seem complex, these steps are necessary to ensure compliance with regulations and protect both parties involved.

By following the proper procedures through MTN Ghana service centres, users can successfully transfer ownership while maintaining security and legal clarity.

As Mobile Money continues to play a central role in Ghana’s financial ecosystem, understanding these processes is essential for responsible and secure usage.

FAQs

Can I transfer my MTN MoMo account to another person directly?

No. You must transfer SIM ownership and then re-register the MoMo account under the new owner.

Do both parties need to be present?

Yes, both the current and new owner are usually required to be present at the service centre.

What happens to the money in the account?

All funds should be withdrawn or transferred before ownership change.

Can I do the transfer online?

No. Ownership transfer typically requires a physical visit to an MTN Ghana service centre.

Is the process regulated?

Yes, it is regulated by institutions such as the Bank of Ghana to ensure security and compliance.

Source: Accra Street Journal 

Last Updated on March 17, 2026 by Samuel Kwame Boadu

Samuel Kwame Boadu

Samuel Kwame Boadu is a Ghanaian media entrepreneur and storyteller with a passion for amplifying urban voices and uncovering everyday truths. He is the Editor-in-Chief and Founder of Accra Street Journal, a dynamic digital platform dedicated to capturing the pulse of Ghana’s capital—its people, culture, challenges, business, sports and innovations.

accrastreetjournal.com/