The Bank of Ghana has instructed Bank of Ghana to suspend the planned implementation of a 0.75% charge on Mobile Money transfers from wallets to bank accounts.
The directive means the fee, which was scheduled to take effect on June 1, 2026, will not be introduced as planned. The central bank says the pause is to allow broader consultations with stakeholders in the financial services sector.
In a statement, the Bank of Ghana emphasized that any changes to charges within the mobile money ecosystem must be introduced fairly and in a way that protects consumers while supporting financial stability.
On May 25, 2026, MTN Ghana announced it would begin applying a 0.75% fee on transfers from Mobile Money (MoMo) wallets to bank accounts, capped at GHS 5 per transaction.
Customers were notified via SMS, with the telecom operator stating that the adjustment was intended to “help us continue to serve you better.” The charge was scheduled to take effect on June 1, 2026.
According to sources, the fee was expected to apply only to customers and not affect agents or merchants.
MTN officials argued that the change was necessary due to imbalances in the current pricing structure. They explained that costs are incurred when customers cash in through agents or receive funds via the Ghana Interbank Payment and Settlement Systems (GhIPSS). However, when funds are later transferred from MoMo wallets into bank accounts, the company does not recover similar fees, creating what they describe as a revenue gap.
The proposed charge, they said, was intended to address this imbalance and align mobile money pricing with practices in the wider banking ecosystem.
