BoG directs suspension of proposed 0.75% wallet-to-bank transfer fee

• The Bank of Ghana has suspended the proposed 0.75% wallet-to-bank transfer fee pending further stakeholder consultations.

• The fee, announced by MTN Ghana, was set to take effect on June 1, 2026, with a GH¢5 cap per transaction.

• The decision aims to ensure fair implementation of charges in the mobile money ecosystem while protecting consumers.

The Bank of Ghana has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of a proposed 0.75 percent charge on wallet-to-bank transfers, originally scheduled to take effect on June 1, 2026.

The suspension places the new fee on hold pending further consultations with stakeholders in the financial services sector.

According to the Bank of Ghana, the decision reflects its commitment to ensuring that changes within the mobile financial services ecosystem are introduced fairly, protect consumers, and support the financial wellbeing of users.

MTN Ghana had earlier informed customers that it would introduce a 0.75 percent charge on transfers from mobile money wallets to bank accounts, with a cap of GH¢5 per transaction.

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The telecom operator explained that the adjustment was intended to improve service delivery and enhance customer experience.

The proposed charge was expected to affect millions of mobile money users who regularly transfer funds from their wallets to bank accounts for savings, business transactions, and personal payments.

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Mobile money services remain one of the most widely used digital financial platforms in Ghana, playing a key role in everyday transactions across the country.

The central bank is expected to engage stakeholders further before any final decision is taken on the proposed fee structure.