The Bank of Ghana has ordered Mobile Money Fintech Limited to halt its planned 0.75 per cent charge on direct wallet-to-bank transfers, according to a statement issued on Tuesday, May 26, 2026.
The directive puts on pause a fee that was due to begin on June 1, 2026, pending further stakeholder consultations.
The move comes after MTN Ghana notified customers on Monday, May 25, that transfers from MoMo wallets to bank accounts would attract a 0.75 per cent deduction per transaction, with a maximum charge of GH₵5.
That proposed charge was also expected to apply to transfers between a customer’s own MoMo wallet and personal bank account, a service that has so far been free.
In its explanation, the central bank said the suspension is intended to ensure that any adjustments within the mobile financial services space are introduced in a way that is fair, protects users, and safeguards their financial interests.
For the moment, customers will continue to move funds from MoMo wallets to bank accounts without the new charge. Existing fees for transfers between MoMo wallets, as well as cash-in and cash-out transactions through agents, remain unchanged.
As at the time the report was being, MTN was yet to respond to the Bank of Ghana’s directive.
