HomeEconomyBoG orders suspension of wallet-to-bank transfer fee rollout
Economy

BoG orders suspension of wallet-to-bank transfer fee rollout

Benjamin Mensah
By Benjamin Mensah
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The Bank of Ghana has instructed Mobile Money Fintech Limited to suspend the rollout of its proposed 0.75 percent fee on wallet‑to‑bank transfers, pending further consultations. The fee, announced by the MoMo operator on Monday, May 25, 2026, sparked concerns over its potential impact on digital transactions and the affordability of financial services.

In a press release dated May 26, 2026, the central bank confirmed that the charge—originally scheduled to take effect on June 1—has been placed on hold to allow for broader stakeholder engagement. The Bank of Ghana explained that the move is intended to ensure that any adjustments to fees within the mobile financial services sector are introduced fairly, while safeguarding consumers and supporting their financial well‑being.

Source: William Narh

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