The Bank of Ghana suspended a proposed 0.75% [1] fee on mobile-money-to-bank transfers scheduled to begin this Sunday.
The decision prevents a sudden increase in costs for millions of users who rely on digital wallets for banking. By blocking the charge, the central bank aims to maintain the accessibility of digital financial services across the country.
Mobile Money Fintech Limited, the fintech arm of MTN Ghana, had planned to implement the fee on June 1, 2026 [2]. The charge would have applied to users moving funds from their mobile wallets into traditional bank accounts.
The Bank of Ghana said it suspended the fee on May 29, 2026, after conducting a review of the proposal [3]. Regulators said the new cost could burden consumers and potentially hinder financial inclusion efforts in the region [3].
Financial inclusion refers to the effort to ensure individuals and businesses have access to useful, and affordable financial products. The central bank said the proposed fee threatened this goal by creating a barrier to the movement of capital between mobile and formal banking systems [3].
This intervention comes as Ghana continues to digitize its economy. The suspension ensures that the cost of moving money remains stable for users who depend on the interoperability of mobile money and bank accounts to manage their finances [3].
“The Bank of Ghana suspended a proposed 0.75% fee on mobile-money-to-bank transfers.”
This move signals the Bank of Ghana's priority of consumer protection and financial accessibility over the revenue goals of private fintech providers. By intervening against MTN Ghana's fintech unit, the regulator is reinforcing a policy environment where the cost of digital financial entry and exit remains low to encourage the transition from cash-based to digital economies.
