Bank of Ghana Suspends Proposed 0.75% Wallet-to-Bank Transfer Fee

Bank of Ghana halts MTN mobile money transfer fee

The Bank of Ghana (BoG) has suspended a proposed fee on mobile money-to-bank transfers from MTN Ghana’s fintech unit, halting the charge before it could take effect on June 1. In a statement on Tuesday, BoG said it has directed Mobile Money Fintech Limited (MMFL), MTN Ghana’s newly carved-out mobile money subsidiary, to suspend the proposed 0.75% fee on wallet-to-bank transfers pending further consultations with industry stakeholders. The decisi…

BoG suspends implementation of 0.75% wallet to bank transfer fee

The Bank of Ghana (BoG) has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of its proposed 0.75 per cent fee on direct wallet-to-bank transfers pending further consultations. The charge, which was expected to take effect from June 1, 2026, has been put on hold as authorities engage stakeholders on the way forward. Telecommunications giant MTN Ghana, in a text message sent to customers on Monday, said transfers from Mo…

Bank of Ghana halts mobile money wallet-to-bank transfer fee ahead of June launch

The Bank of Ghana has stepped in to suspend a proposed 0.75% fee on direct wallet-to-bank transfers by Mobile Money Fintech Limited, putting a halt to a charge that had been scheduled to take effect on June 1, 2026. In a press release issued on Tuesday, May 26, the central bank said the suspension was necessary to allow for wider stakeholder engagement and a thorough review of the proposed charge, framing the decision as part of its broader mand…

Bank of Ghana suspends proposed 0.75% wallet-to-bank transfer fee

The Bank of Ghana has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of its proposed 0.75 percent fee on direct wallet-to-bank transfers pending further consultations. The proposed charge was scheduled to take effect on June 1, 2026. In a press release issued by its Communications Department, the central bank said the decision to halt the implementation was to allow for further engagement on the matter. According to t…

BoG Suspends Proposed 0.75% Wallet-to-Bank Transfer Fee

The Bank of Ghana (BoG) has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of its proposed 0.75% fee on direct wallet-to-bank transfers pending further stakeholder consultations. The proposed charge, which was scheduled to take effect from June 1, 2026, has been put on hold following growing public concern over its potential impact on digital transactions and financial inclusion in Ghana. In a statement issued on Tues…

BoG suspends planned 0.75% wallet-to-bank transfer fee

The Bank of Ghana (BoG) has announced the suspension of the proposed 0.75 percent fee on direct wallet-to-bank transfers. In a press release issued on May 26, 2026, the central bank said Mobile Money Fintech Limited had been instructed to pause the implementation of the charge, which was expected to start on June 1, 2026. According to the statement, the suspension is to allow more consultations on the matter. “The fee is now on hold to allow for…