The Bank of Ghana has told Mobile Money Fintech Limited to put on hold its plan to charge a 0.75% fee on transfers from mobile money wallets to bank accounts. In an official statement, the Bank of Ghana said it has asked for the fee to be paused, as it was set to kick in on June 1, 2026, so that all parties can have further discussions before anything changes. “This decision reflects our commitment to ensuring that any changes to charges in the mobile financial services ecosystem are introduced fairly, protect consumers, and support their financial well-being.”
MTN Ghana announced on May 25, 2026, that it would begin charging customers for moving money from their Mobile Money (MoMo) wallets to their bank accounts, starting June 1, 2026. The telecom company sent a text message to customers saying that transfers from MoMo wallets to bank accounts would attract a fee of 0.75 percent per transaction, with the charge capped at GHS 5. MTN said the new fee would help the company “continue to serve you better.”
Joy Business has established that the charge would only apply to regular customers and would not affect agents or merchants. Sources within MTN say the company felt it had no choice but to introduce the fee because of a growing imbalance in how different types of transactions are priced.
A source explained that when a customer visits an agent to deposit cash, or when a customer receives money through GhIPSS, MTN ends up paying either as commission to agents or as a GhIPSS processing fee. The same source added that when customers then send that money to their bank account, MTN currently gets nothing back and bears the full cost of the transaction.
MTN says the new fee is meant to fix this problem and bring its pricing in line with how charges work in the broader banking system.
