The Bank of Ghana (BoG) has asked Mobile Money Fintech Limited (MMFL) to hold on with the implementation of its proposed 0.75 per cent direct charge on direct wallet-to-bank transfers.
The central bank says further consultations are needed on the proposal which was scheduled to take effect from Monday, June 1, 2026.
In a text message distributed to its customers on Monday, May 25, 2026, telecommunications giant MTN Ghana, informed its customers that financial transfers from MoMo wallets to bank accounts will now attract a fee of 0.75 per cent per transaction, capped at GHC 5.
“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,” the message read.
MTN added that the move “will help us continue to serve you better.”
However, the BoG, in a press statement issued on Tuesday, May 26, indicated that the decision to suspend the implementation forms part of efforts to ensure that any adjustments to charges within the mobile financial services ecosystem are implemented fairly and in a manner that safeguards consumers.
“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 per cent fee on direct wallet-to-bank transfers,” the statement said.
The Bank of Ghana further stressed its commitment to protecting consumers and supporting their financial well-being through broader stakeholder engagement before any new charges are introduced.
