Bank of Ghana Suspends Planned 0.75% Wallet-to-Bank Transfer Fee Ahead of June Rollout
The central bank explained that the temporary suspension is intended to allow additional discussions on the proposed fee structure and its potential impact on users of mobile financial services.
The Bank of Ghana has announced the suspension of the proposed 0.75 percent wallet-to-bank transfer fee that was expected to take effect on 1 June 2026. According to a press release issued on 26 May 2026, the decision was made after Mobile Money Fintech Limited (MMFL) was directed to pause implementation of the charge pending further consultation.
The central bank explained that the temporary suspension is intended to allow additional discussions on the proposed fee structure and its potential impact on users of mobile financial services. The fee would have applied to transfers made from mobile money wallets to bank accounts.
In the statement, the Bank of Ghana emphasized its commitment to ensuring that any future changes within the mobile financial services ecosystem are introduced fairly and in a way that protects consumers. The bank also noted that the move is aimed at supporting the financial wellbeing of the public while broader consultations continue.
The press release was issued by the Communications Department of the Bank of Ghana and reaffirmed the institution’s focus on consumer protection and stakeholder engagement before implementing new financial charges.
