The Bank of Ghana has directed Mobile Money Fintech Limited (MMFL) to halt the planned implementation of a 0.75% charge on wallet-to-bank transfers, pending further stakeholder consultations.
The proposed fee, which was originally scheduled to take effect on June 1, 2026, has now been put on hold as regulators review concerns and engage relevant industry players to ensure fair and balanced implementation of charges within Ghana’s digital financial ecosystem.
Earlier, MTN Ghana had informed customers via SMS that transfers from mobile money wallets to bank accounts would attract a 0.75% fee per transaction, capped at GH¢5. The message indicated the adjustment was intended to support service improvements.
However, the Bank of Ghana clarified in a statement issued on May 26 that it had instructed Mobile Money Fintech Limited to suspend the rollout of the fee until consultations are completed. The central bank emphasized that any adjustments to charges in the mobile money space must be carefully assessed to protect consumers and ensure transparency.
The BoG further reiterated its commitment to safeguarding financial consumers while working with stakeholders in the banking and fintech sectors to ensure that any new fees introduced are justified, fair, and widely agreed upon.
The suspension means customers will not be charged the proposed wallet-to-bank transfer fee until a final decision is reached after stakeholder engagement
