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 percent fee on direct wallet-to-bank transfers pending further consultations.
The proposed charge, which was scheduled to take effect from June 1, 2026, has been put on hold to allow stakeholders to engage further on the matter.
In a statement issued on May 26, 2026, the central bank said the decision forms part of its commitment to ensuring fairness within the mobile financial services ecosystem while protecting consumers.
“The Bank of Ghana informs the public that Mobile Money Fintech Limited (MMFL) has been directed to pause the implementation of its proposed 0.75 percent fee on direct wallet-to-bank transfers,” the statement said.
According to the BoG, the suspension is intended to create room for broader consultations before any decision is taken on the proposed charges.
“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 wellbeing,” the statement added.
The announcement follows public concerns and debate over the planned fee, with many mobile money users expressing fears about the growing cost of digital financial transactions.
