However, because of the involvement of UBA, a lot of non-UBA customers and even UBA customers angered by their recent increment in minimum allowed deposit are skeptical about the service. Well, the good news is that U-Mo mobile money does not require a UBA account or any account for that matter, at least for the entry account.
The first thing you should know about the U-Mo mobile money is that it is not a bank account. It is an e-wallet (virtual wallet) for storing funds on your phone. So, you can use the funds in your U-Mo mobile money e-wallet to pay for goods and services, send/transfer money, buy recharge PINs for yourself and others, etc.
You create, fund and withdraw money from your e-wallet via U-Mo agents,any UBA branch or through an ATM machine or using Scratch Card which is coming up, which will soon be dotting cities, towns and villages. If you have a bank account and sync it with your U-Mo e-wallet, you can easily transfer funds from your bank account to your U-Mo mobile money e-wallet . Also, U-Mo users or non-users who receive funds transfer from users can cash their funds at UBA ATM machine. Of course, you do not need to have a UBA account to cash-out via their ATMs.
So, as you can see U-Mo mobile money does not require a UBA account. However, Afripay Is working on collaborating with other banks, so that customers can cash out via other ATMs and prevent a proliferation of mobile money services. visit U-Mo Website
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