We examine the prospects of detecting an analogous process of neutrinoless double beta decay at a neutrino factory from a high energy muon storage ring. Limits from LEP experiments, neutrinoless double beta decay as well as from global fits have to be incorporated and severely restrict the results. We investigate what limits on light and heavy effective Majorana neutrino masses can be obtained and compare them with existing ones. Discussed are also contributions from right-handed neutrinos and purely right-handed interactions. Other ``new physics'' contributions to the same final state might produce large event numbers.