Thousands of MTN MoMo users in Ghana have been given temporary relief after the Bank of Ghana halted plans to introduce charges on transfers from mobile money wallets to bank accounts.
The Central Bank on Tuesday, May 26, 2026, directed Mobile Money Fintech Limited to immediately suspend the proposed 0.75 per cent transaction fee that was scheduled to take effect from June 1, 2026.
The decision came barely a day after MTN Ghana informed customers that all direct transfers from MoMo wallets to bank accounts would attract the new charge, capped at GH₵5 per transaction.
Under the proposed arrangement, customers would have been charged even when transferring money from their own registered MoMo wallets to their personal bank accounts — a service that had previously remained free.
The announcement triggered widespread backlash among subscribers and mobile money users across Ghana, with many expressing concerns over the growing cost of digital transactions and financial services.
In a statement issued on Tuesday, the Bank of Ghana said the suspension became necessary to allow for broader stakeholder consultations and further assessment of the proposed fee structure.
According to the apex bank, the move reflects its commitment to ensuring that any changes within Ghana’s mobile financial services ecosystem are introduced fairly while protecting consumers and supporting their financial well-being.
“For now, transfers from MoMo wallets to bank accounts remain free of the proposed charge,” the Central Bank clarified.
The Bank of Ghana also noted that existing charges for transfers between MoMo wallets, as well as cash-in and cash-out services through agents, would remain unchanged.
As of the time of filing this report, MTN Ghana had yet to officially respond to the directive suspending the implementation of the controversial fee.
Mobile money services have become a major part of daily financial transactions in Ghana, with millions of users relying on MoMo platforms for transfers, payments, savings, and other banking activities.
The planned fee had raised fears that additional transaction costs could discourage financial inclusion efforts and place extra pressure on consumers already battling economic challenges.
The latest intervention by the Bank of Ghana is expected to spark further discussions between regulators, telecom operators, financial institutions, and consumer groups over the future of digital transaction charges in the country.
