BoG suspends proposed 0.75% wallet-to-bank transfer fee
The Bank of Ghana (BoG) has instructed Mobile Money Fintech Limited (MMFL) to suspend its planned 0.75% charge on direct wallet-to-bank transfers, pending further consultations.
The fee, which was originally set to take effect on June 1, 2026, has been placed on hold to allow for wider stakeholder engagement and policy review.
The proposed wallet-to-bank transfer charge had sparked public debate, with concerns raised about its possible impact on digital payments and financial inclusion.
In a statement issued on Tuesday, May 26, 2026, the central bank said the decision is aimed at ensuring fairness within the mobile financial services sector while safeguarding consumer interests.
It added that any adjustments to transaction fees must be introduced in a transparent and equitable manner that protects users’ financial wellbeing.
The Bank of Ghana did not provide a timeline for the conclusion of consultations, nor did it clarify whether the proposed fee will eventually be revised or cancelled.
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