The Bank of Ghana (BoG) has directed Mobile Money Fintech Limited (MMFL) to suspend the planned implementation of a 0.75 percent fee on wallet-to-bank transfers, which was originally scheduled to take effect on 1 June 2026.
In a statement issued on Tuesday, 26 May 2026, the central bank said the suspension is to allow for further consultations on the proposed charge, which had generated public attention ahead of its rollout.
“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 fee was scheduled to take effect on 1 June 2026 but is now on hold to allow for further consultation,” the statement said.
The BoG explained that the decision reflects its commitment to ensuring that any changes within the mobile financial services ecosystem are introduced fairly, protect consumers, and support financial wellbeing.
MTN Ghana had announced that all MoMo-to-bank transfers would attract a 0.75 percent charge per transaction, capped at GH¢5. The company had indicated that the fee was intended to improve service delivery on the mobile money platform.
The proposed fee was expected to impact users transferring funds from mobile money wallets directly into bank accounts.
The latest directive, however, places the implementation on hold as stakeholders engage further on the policy’s structure and implications.
Below is a copy of the press release:
Source: Starrfm.com.gh
