• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

MTN reverses decision to increase MoMo cash-out fee amid customer backlash

2 years ago
in Business, Features, highlights, Home, home-news, latest News, Telecom
1 min read
0 0
0
119
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

UK Pledges Support as Ghana Faces GIABA Assessment Amid Gold Sector Scrutiny

BOST Holds 2025 AGM, Tasked to Deliver Profitability and Support Green Transition

Brussels Airlines Adds 5 More A320neo Aircraft to its Fleet

MTN reverses decision to increase MoMo cash-out fee amid customer backlash

MTN has rescinded its earlier announcement to raise the cash-out fee for MoMo transactions, which was slated to take effect from July 1, 2023. The decision comes in response to significant customer backlash following the company’s SMS circular outlining the revised fee structure.

In the initial communication to customers, MTN had disclosed that cash-out transactions up to GHS2,000 would attract a 1% fee, while transactions exceeding GHS2,000 would incur a maximum charge of GHS20. This adjustment represented a substantial departure from the existing fee system, where a 1% fee applied to cash-out amounts up to GHS1,000, with a cap of GHS10 for transactions surpassing that threshold. Notably, the revised fee structure meant that cash-out transactions ranging from GHS1,000 to GHS2,000 would no longer be subject to a maximum fee of GHS10.

However, in light of the strong negative response from customers, MTN has now reversed its decision. The company has announced that the cash-out fee will continue to be set at 1%. Consequently, customers will not experience an increase in fees for their MoMo transactions.

In addition to maintaining the existing fee structure, MTN has cautioned customers against paying any additional charges beyond the 1% fee. The telco giant’s message serves as a reminder to customers to be vigilant and ensure that they are not subjected to any unauthorized or inflated fees when conducting MoMo cash-out transactions.

MTN’s decision to reverse the fee increase reflects the company’s responsiveness to customer concerns and underscores its commitment to maintaining a fair and transparent pricing structure. As the mobile money ecosystem continues to play a vital role in Ghana’s financial landscape, MTN’s assurance that the cash-out fee will remain at 1% provides customers with clarity and reassurance.

With this development, customers can continue to enjoy the convenience of MoMo transactions without incurring higher charges.

 

Tags: MoMo cash-out feemtnMTN reverses decision to increase MoMo cash-out fee amid customer backlash
No Result
View All Result

Highlights

Bog Governor Hints at $4bn Inflows From COCOBOD Financing Deal to Support Cedi

Dangote to Build $2.5 Billion Fertiliser Facility in Ethiopia

Top 10 African Countries With the Lowest Debt to the IMF in August 2025

Ghana Ranked Among Top 10 Best-Governed African Countries in 2025

Cocoa Marketing Company (CMC) Secures Major Win for Ghana at the Annual Cocoa Freight Negotiation Conference in Rouen, France

UEFA Champions League: Five Exciting Fixtures to Keep an Eye on

Trending

Business

UK Pledges Support as Ghana Faces GIABA Assessment Amid Gold Sector Scrutiny

August 29, 2025

UK Pledges Support as Ghana Faces GIABA Assessment Amid Gold Sector Scrutiny The United Kingdom has reaffirmed...

BOST Holds 2025 AGM, Tasked to Deliver Profitability and Support Green Transition

August 29, 2025

Brussels Airlines Adds 5 More A320neo Aircraft to its Fleet

August 29, 2025

Bog Governor Hints at $4bn Inflows From COCOBOD Financing Deal to Support Cedi

August 29, 2025

Dangote to Build $2.5 Billion Fertiliser Facility in Ethiopia

August 29, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.