Bank of Ghana halts mobile money wallet-to-bank transfer fee ahead of June launch
The Bank of Ghana has stepped in to suspend a proposed 0.75% fee on direct wallet-to-bank transfers by Mobile Money Fintech Limited, putting a halt to a charge that had been scheduled to take effect on June 1, 2026.
In a press release issued on Tuesday, May 26, the central bank said the suspension was necessary to allow for wider stakeholder engagement and a thorough review of the proposed charge, framing the decision as part of its broader mandate to ensure fairness within the mobile financial services sector.
“This decision reflects our commitment to ensuring that any changes to charges in the mobile financial services ecosystem are introduced fairly, protect consumers, and support their financial wellbeing,” the Bank of Ghana stated.
The announcement comes after the proposed fee generated considerable public debate about its potential consequences for digital transactions and financial inclusion, particularly among users who rely on mobile money as their primary means of moving funds.
The central bank did not provide a timeline for the conclusion of the consultations, nor did it indicate whether the fee would ultimately be revised or scrapped altogether. The public and industry stakeholders are expected to be engaged as part of the review process before any final decision is made.
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