Bank of Ghana suspends proposed 0.75% Wallet-to-Bank transfer fee
The Bank of Ghana has directed MobileMoney LTD to suspend the planned implementation of the proposed 0.75 percent wallet-to-bank transfer fee pending further stakeholder consultations.
The directive comes after concerns were raised by sections of the public over the potential impact of the new charge on mobile money users and digital financial transactions across the country.
In a statement, the central bank indicated that additional engagements would be held with relevant stakeholders before any final decision is made on the proposed fee structure. The move is aimed at ensuring that consumer interests and the broader goal of financial inclusion are adequately protected.
The proposed charge had generated widespread debate among customers and financial analysts, with many warning that it could discourage the use of mobile money services and electronic banking transactions.
The Bank of Ghana reaffirmed its commitment to promoting a safe, efficient, and inclusive digital payment ecosystem while balancing the operational needs of financial technology service providers.
