The Bank of Ghana has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of its proposed 0.75 per cent fee on direct wallet-to-bank transfers pending further consultations.
The directive follows widespread public reaction to messages sent to customers of MTN Ghana announcing that transfers from MoMo wallets to bank accounts would attract a 0.75 per cent charge per transaction, capped at GH¢5, effective June 1, 2026.
In a press release issued on May 26, 2026, the Bank of Ghana stated that the proposed fee, which was scheduled to take effect next month, has been put on hold to allow for further engagement on the matter.
“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 central bank, the decision underscores its commitment to ensuring fairness in the mobile financial services ecosystem while protecting consumers and supporting their financial wellbeing.
The proposed charge had triggered discussions among mobile money users, many of whom expressed concern over the potential additional cost burden on digital financial transactions.
MTN customers had received text messages indicating that the fee would apply to transfers from MoMo wallets to bank accounts from June 1, 2026.
The Bank of Ghana, however, says consultations will continue before any decision is taken regarding the implementation of such charges.
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