The Bank of Ghana has directed Mobile Money Fintech Limited to pause the planned introduction of a 0.75% fee on direct transfers from mobile money wallets to bank accounts, following concerns and the need for further consultation with stakeholders.

The charge, which was originally scheduled to take effect on June 1, 2026, had been announced by telecoms operator MTN Ghana. Under the proposed arrangement, customers transferring money from their mobile money wallets to bank accounts would have been charged 0.75% per transaction, with a maximum fee of GHS 5.

However, the Bank of Ghana has stepped in to halt the implementation for now. According to the central bank, the pause is to allow more discussions to ensure that any changes in mobile money charges are fair, transparent, and protective of customers’ financial well-being.

The bank explained that mobile financial services play a major role in everyday transactions in Ghana, so any new charges must be carefully considered to avoid placing unnecessary pressure on users.

Before the suspension, MTN Ghana had informed customers via text message that the fee would apply to transfers from mobile money wallets to bank accounts. The company said the adjustment was intended to help it maintain and improve its services.

Sources close to MTN also indicated that the change was partly due to cost pressures within the system. They explained that when customers deposit cash through agents or receive funds via GhIPSS, MTN pays commissions or transaction fees. However, when those same funds are later moved into bank accounts, the company does not earn additional revenue from that step, which they argue creates a pricing imbalance.

At this stage, the fee will not be implemented until further notice while discussions continue between regulators and industry players. For now, customers can continue using mobile money-to-bank transfers without the new charge taking effect.