The Bank of Ghana has directed Mobile Money Fintech Limited to suspend the implementation of its proposed 0.75 percent fee on wallet-to-bank transfers pending further stakeholder consultations.
The proposed fee, which was scheduled to take effect from June 1, 2026, would have applied to transfers from mobile money wallets to bank accounts and was capped at GH¢5 per transaction.
In an earlier message to customers, Mobile Money Fintech Limited had announced: “From 1 June 2026, transfers from your MoMo Wallet to bank accounts will attract a fee of 0.75% per transaction, capped at GHS 5. This will help us continue to serve you better.”
However, in a statement issued subsequently, the central bank said the fee implementation had been put on hold to allow for further engagement and consultation.
The Bank of Ghana informs the public that Mobile Money Fintech Limited (MMFL) has been directed to pause the implementation of its proposed 0.75 percent fee on direct wallet-to-bank transfers,” the statement said.
According to the Bank of Ghana, the decision reflects its commitment to ensuring fairness within the mobile financial services ecosystem while safeguarding consumers.
This decision reflects our commitment to ensuring that any changes to charges in the mobile financial services ecosystem are introduced fairly, protect consumers, and support their financial wellbeing,” the central bank stated.
The suspension comes amid public concerns over the potential impact of the proposed charge on digital financial transactions and financial inclusion efforts in Ghana.
Mobile money services remain one of the most widely used financial transaction channels in the country, facilitating millions of daily transfers, payments and savings transactions.
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