MoMo Fast Drop
As a way of adding value to our Mobile Money customers’ lives, we have introduced “MoMo Fast Drop”. This new service seeks to provide a minimum of 15% to 33.3% salary advance option to employees any day after payday.
- All employees are eligible
- The MoMo Fast Drop request will be approved and guaranteed by the Human Resource Department of the requesting applicant
- The percentage of the amount advanced will be deducted from the applicant salary in the same month and deposited into MoMo Fast Drop Account
- Staff will have the option of requesting for their respective percentages
- The staff will be allowed to request for up to 33.3% of their net salary
- Staff can request for MoMo Fast Drop any time after Pay Day
- An Up-front charge of 10% will be deducted from the applicant
- No staff with outstanding balance will be eligible for another advance
- Requesting staff will receive MoMo Fast Drop same day.
- Staff fill out form and proceeds to HR for MoMo Fast Drop request
- HR authorizes staff advance based on staff salary and sends communication to Mobile Financial Service to process payment
- MoMo processes and sends MoMo Fast Drop to staff MoMo account less 10% of the given amount
- HR will then deduct full amount of loan requested from staff salary at the end of the month