- MTN’s 0.75% Wallet-to-Bank Charge Put on Hold by BoG
The Bank of Ghana has directed Mobile Money Fintech Limited to suspend the planned implementation of its proposed 0.75 per cent fee on direct wallet-to-bank transfers, in a regulatory intervention that temporarily halts a new cost layer for mobile money users.
The fee, which was scheduled to take effect on June 1, 2026, has now been put on hold pending further consultation, according to a press release issued by the central bank.
“The Bank of Ghana informs the public that Mobile Money Fintech Limited has been directed to pause the implementation of its proposed 0.75 percent fee on direct wallet-to-bank transfers,” the statement said.
The central bank said the decision was intended to ensure that any changes to charges within the mobile financial services ecosystem are introduced fairly, protect consumers and support their financial wellbeing.
The intervention comes barely a day after customers were notified that wallet-to-bank transfers would attract a 0.75 per cent fee, capped at GH¢5, from June 1. The proposed charge had raised concerns about the cumulative cost of digital financial transactions, particularly for individuals, small businesses and informal traders who frequently move funds between mobile wallets and bank accounts.
The suspension is significant because it signals that the central bank is prepared to scrutinise pricing decisions within Ghana’s fast-expanding mobile money ecosystem, especially where such charges could affect access, affordability and consumer confidence.
Mobile money has become one of Ghana’s most important payment channels, supporting retail payments, bank transfers, merchant transactions and broader financial inclusion. The ability to move funds easily between wallets and bank accounts has also become central to the country’s digital finance architecture.
Any additional charge on wallet-to-bank transfers therefore carries implications beyond individual transaction costs. It affects the economics of digital payments, the behaviour of consumers, the liquidity of small businesses and the relationship between telecom-led financial platforms and traditional banks.
For many users, mobile money became attractive because of convenience, speed and relative affordability. The proposed fee would have introduced a new pricing consideration at a time when households and small enterprises remain sensitive to transaction costs.
The Bank of Ghana’s decision to pause the fee suggests that regulators want further engagement before allowing the charge to take effect. That consultation process is likely to examine consumer protection concerns, cost justification, market competition, transparency of charges and the broader effect on financial inclusion.
The development also places a spotlight on the growing commercial value of mobile money services. As transaction volumes expand, telecom-led financial service providers are increasingly seeking ways to monetise their platforms, recover operational costs and invest in service quality, cybersecurity and network resilience.
However, the central bank’s position makes clear that monetisation must be balanced against consumer welfare.
For Mobile Money Fintech Limited, the suspension does not necessarily mean the proposed fee has been cancelled permanently. It means implementation has been paused until further consultations are completed.
For customers, the immediate effect is straightforward: the proposed 0.75 per cent direct wallet-to-bank transfer fee will not take effect on June 1 as initially planned.
The broader policy question remains unresolved. Ghana’s digital finance market must find a sustainable balance between commercial viability for service providers and affordability for users.
The central bank’s intervention shows that as mobile money becomes more central to the economy, pricing decisions will attract closer regulatory attention.
For now, the message from the Bank of Ghana is clear: new charges in the mobile financial services ecosystem must be introduced in a way that is fair, consultative and protective of consumers.
