Bank of Ghana suspends proposed MTN MoMo-to-bank transfer fee
The Bank of Ghana has directed Mobile Money Fintech Limited to suspend its proposed 0.75 per cent fee on direct wallet-to-bank transfers, the central bank announced on Tuesday, May 26, 2026.
The fee was scheduled to take effect on June 1, 2026, but has been put on hold to allow for further consultation.
The decision follows an announcement by MTN Ghana on Monday, May 25, informing subscribers that transfers from MoMo wallets to bank accounts would attract a 0.75 per cent charge per transaction, capped at GH₵5.
Related: MTN MoMo to bank transfers will attract charges from June 1, 2026
The fee would have applied even when customers transferred funds between their own registered MoMo wallet and their own bank account, a service previously provided at no cost.
The central bank said the suspension reflects its commitment to ensuring that changes to charges in the mobile financial services ecosystem are introduced fairly, protect consumers, and support their financial well-being.
For now, transfers from MoMo wallets to bank accounts remain free of the proposed charge. The existing fee structures for transfers between two MoMo wallets and for cash-in and cash-out services at agents are unchanged.
MTN Ghana has not yet issued a response to the Bank of Ghana's directive.