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Mobile money on Luno

Our rating
4.0
Offered in
1 country
Type
Mobile money
Rail reviewed
2026-08-18
Review updated
2026-08-12

Know before you deposit

Luno is winding down EU operations (EUR withdrawals end 31 Aug 2026, accounts close 1 Sep 2026); it remains fully active in Kenya, Nigeria, South Africa, Indonesia and Malaysia.

Yes. Luno takes Mobile money in Nigeria. Transfers inside a single wallet network land in seconds, while sending across networks or out to a bank account can take longer and is not offered everywhere. By reach it is ninth of the 9 rails on our record for Luno; Local bank transfer is offered in more countries.

What Mobile money is

Mobile money is a category rather than one branded scheme: a wallet held against your phone number with a licensed issuer, usually a mobile network operator or its fintech subsidiary, topped up with cash at an agent and spent from the handset. Each country licenses its own providers, so the names change at the border. The Central Bank of The Gambia names Afrimobile Money and QMoney as licensed operators, and the Bank of Tanzania supervises non-bank payment service providers under its national payment system powers. For funding an exchange account it behaves like a local bank transfer that happens to sit on a SIM, so the questions that matter are which wallet the other side accepts and what the agent charges.

Speed
Transfers inside a single wallet network land in seconds, while sending across networks or out to a bank account can take longer and is not offered everywhere.
Cost of the rail
Almost every provider charges flat fees banded by amount rather than a percentage, usually on sending and on cash out, with cash deposits at an agent often free.
Limits
Wallet balances and daily transfer ceilings are capped by the local regulator and generally rise as you complete more identity verification.

Every exchange that takes Mobile money

Where Luno offers Mobile money

Each country opens the Luno page for that market, with its rank there and every rail it takes. The number is Luno's rank in that country's guide.

Africa (1)

Named locally as Mobile money and fintech wallets.

What Mobile money costs on Luno

Local deposit methods and costs vary by market; bank transfers are typically low cost.

Other ways to pay on Luno

8 other rails at least one country we rank Luno in uses, widest reach first.

Frequently asked questions

Does Luno accept Mobile money?

Yes, in Nigeria. By reach it is ninth of the 9 rails on our record for Luno; Local bank transfer is offered in more countries. Support is decided market by market, so the country pages linked here are the exact list.

In which countries can I use Mobile money on Luno?

Nigeria, from our country guides reviewed between 2026-08-12 and 2026-08-12. Locally it appears as Mobile money and fintech wallets.

How long does a Mobile money deposit take on Luno?

Transfers inside a single wallet network land in seconds, while sending across networks or out to a bank account can take longer and is not offered everywhere. That describes the rail itself; Luno may hold a first deposit for longer while it verifies your account.

What does Mobile money cost on Luno?

Almost every provider charges flat fees banded by amount rather than a percentage, usually on sending and on cash out, with cash deposits at an agent often free. On Luno's side: Local deposit methods and costs vary by market; bank transfers are typically low cost.

Are there limits on Mobile money deposits?

Wallet balances and daily transfer ceilings are capped by the local regulator and generally rise as you complete more identity verification. Any limit Luno applies on top is set per account tier and shown inside the platform.

Sources