Bank of Ghana Halts Scheduled 0.75 Percent MTN MoMo to Bank Transaction Fee

The rapidly evolving digital financial landscape of Ghana has taken an unexpected regulatory turn. The Bank of Ghana has officially directed Mobile Money Fintech Limited, the fintech subsidiary of MTN Ghana, to immediately suspend the planned implementation of its upcoming 0.75 percent service fee on wallet-to-bank transfers.

This decisive intervention completely pauses the transaction tariff update which was originally scheduled to take effect nationwide on June 1 2026.

In an official public statement released on Tuesday May 26 2026, the central bank clarified that the sudden suspension aims to facilitate deeper institutional dialogue. The proposed fee structure had generated intense public debate and consumer anxiety across the country immediately after its initial corporate announcement.

The regulatory body explained that the directive directly reflects its ongoing commitment to consumer protection and financial wellbeing. The banking regulator intends to ensure that any major operational changes within the electronic payment ecosystem happen in a fair, transparent manner. MTN Ghana had previously informed its subscriber base that cross-platform transfers from MoMo wallets to traditional bank accounts would attract a 0.75 percent charge capped securely at five Ghanaian Cedis. While the telecom operator argued that the revenue would help optimize platform infrastructure, the state has firmly placed the policy layout on hold until comprehensive stakeholder engagement takes place.

Three Factual Insights on Ghana Fintech Regulations

• The Bank of Ghana acts as the supreme statutory authority under the Payment Systems and Services Act to monitor, regulate, and approve all consumer tariff structures implemented by electronic money institutions.
• Mobile money interoperability systems allow seamless fund transfers between mobile telecom wallets and retail commercial banks, acting as a core pillar of national financial inclusion.
• Regulatory interventions by central banks regarding digital payment fees are globally standard practices aimed at protecting low-income consumers from high transactional friction.

Springing surprise fees on digital wallet users is a logical misstep when attempting to build a cash-lite economy. The central bank step in proves that public sentiment and consumer spending power still carry immense weight in policy formulation.

While upgrading high-capacity financial servers requires serious capital investment, finding an equitable middle ground through structured stakeholder debates is the smartest path forward. For now, mobile money users across the country can breathe a sigh of relief as their digital transactions remain entirely unaffected by the paused tariff change while corporate and state leaders return to the drawing board.

Also Read: MTN Ghana Introduces New Service Fee on MoMo to Bank Transfers From June 1

Source – ghananewspage.com