MiMo Fees

Description Fee
Sign up for MiMo Free
Receive money Free
Send money
(including acceptance of money requests)
   » under ₦1000 ₦10
   » ₦1000 and above ₦100
Add money in person at a bank Free
Add money from your debit or credit card 1.5% of the value of the transaction up to ₦2000
Transfer money from your MiMo account to your bank account ₦100

CBN guidelines for transaction limits

MiMo is regulated by the Central Bank of Nigeria (CBN) and we have implemented certain restrictions to comply with their regulations.

The table below shows your transaction limits based upon what we know about you:

Banking Status KYC / CDD* Level MiMo Verification Criteria Payment Transaction Limit
Level I (Un-banked) Least KYC Unverified email and mobile number.
No approved KYC documentation.
Level II (Semi-banked) Partial KYC At least one of the following:
verified email, verified mobile number or approved KYC documentation.
Level III (Fully-banked) Full KYC All of the following:
verified email, verified mobile number and approved KYC documentation.

*CDD = Customer Due Diligence – refers to the efforts required to understand the customer's profile and establish an expectation about the customer's behavior.

**KYC refers to the “Know Your Customer” bank regulation which governs the CDD activities that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them.