The Bank of Ghana has instructed Mobile Money Fintech Limited to suspend the planned 0.75 per cent charge on direct transfers from MoMo wallets to bank accounts.
In a statement issued on Tuesday, May 26, 2026, the central bank said the fee, which was expected to take effect from June 1, has been put on hold pending further stakeholder consultations.
The suspension follows an announcement by MTN Ghana informing customers that wallet-to-bank transfers would attract a 0.75 per cent transaction fee, capped at GH₵5.
The proposed charge was expected to apply even to transfers between a customer’s own MoMo wallet and personal bank account, a service that had previously been free.
According to the Bank of Ghana, the decision to halt the implementation is aimed at ensuring that any adjustments to fees within the mobile financial services sector are introduced fairly, safeguard consumer interests, and support financial inclusion.
The central bank clarified that, for now, customers will continue to enjoy free transfers from MoMo wallets to bank accounts under the existing arrangement.
It added that current charges for MoMo-to-MoMo transfers as well as cash-in and cash-out services at agent points remain unchanged.
MTN Ghana is yet to officially respond to the directive issued by the central bank.
