The Bank of Ghana (BoG) has directed Mobile Money Fintech Limited (MMFL) to suspend the implementation of its proposed 0.75% fee on direct wallet-to-bank transfers, following widespread public concern and calls for further consultation.
In a statement issued on Tuesday, May 26, 2026, the central bank confirmed that the charge—originally scheduled to take effect on June 1, 2026—has been put on hold to allow for broader stakeholder engagement and policy review.
“The Bank of Ghana informs the public that Mobile Money Fintech Limited (MMFL) has been directed to pause the implementation of its proposed 0.75 percent fee on direct wallet-to-bank transfers,” the statement said.
According to the BoG, the decision forms part of efforts to ensure fairness within Ghana’s mobile financial services ecosystem, while also safeguarding consumers and supporting financial inclusion.
Broader implications for mobile money users
The suspension comes at a time when digital financial services have become central to everyday transactions in Ghana, with mobile money platforms serving millions of users for payments, savings, and bank transfers.
The proposed fee had sparked concern among customers, fintech stakeholders, and consumer advocates, who warned it could discourage wallet-to-bank transactions and increase the cost of digital financial services.
The Bank of Ghana’s intervention is therefore being viewed as a move to balance innovation in the fintech sector with consumer protection, as authorities continue to refine the regulatory framework governing digital payments.
Industry observers say the decision also highlights growing sensitivity around transaction costs in Ghana’s expanding mobile money ecosystem, especially at a time of economic pressure on households and small businesses.
For now, the suspension provides temporary relief for users, as discussions are expected to continue between regulators, fintech operators, and other stakeholders before any final decision is made.
