Ghana’s central bank has stepped in to stop MTN from adding a new fee to mobile money transfers. The new charge was supposed to start on June 1, 2026, but the government has put it on hold.
Ghana’s central bank has stepped in to stop MTN from adding a new fee to mobile money transfers. The new charge was supposed to start on June 1, 2026, but the government has put it on hold.
For now, customers can continue moving their money without paying extra.
The Planned Fee
On May 25, 2026, MTN Ghana sent text messages to its millions of Mobile Money (MoMo) users. The company announced that transferring money from a mobile wallet directly into a bank account would no longer be free.
Under the plan:
• Users would pay a 0.75% fee on every transfer.
• The maximum fee would be capped at 5 Ghanaian cedis (GH₵5), meaning large transfers wouldn’t cost more than that amount.
• The fee would apply even if a customer was transferring money to their own personal bank account.
MTN said the extra money would help them improve their technology and serve customers better.
Why the Central Bank Stepped In
Just one day after MTN sent the text messages, the Bank of Ghana (the country’s central bank) ordered MTN’s mobile money branch to stop the plan immediately.
The central bank said it paused the fee to protect consumers and ensure that digital financial services remain fair and affordable. Government officials want to hold talks with MTN and other financial groups before any new fees are allowed.
Why This Matters to Ghanaians
Mobile money is incredibly popular in Ghana. Millions of people use their mobile phones like bank accounts to buy groceries, pay bills, send cash to family, and run small businesses.
Many users were upset by MTN’s announcement, especially because moving money between their own mobile wallet and bank account used to be completely free. The central bank’s quick decision brings relief to regular citizens who rely on digital wallets every day to manage their money.
