The Bank of Ghana (BoG) has suspended the proposed 0.75 percent fee on direct wallet-to-bank transfers, following growing public concern and calls for broader stakeholder consultation. The decision comes just days before the charge was expected to take effect on 1st June 2026.
In a press release dated 26th May 2026, the Central Bank announced that Mobile Money Fintech Limited (MMFL) has been directed to pause the implementation of the new transfer fee pending further discussions and consultations with relevant stakeholders.
According to the statement, the proposed charge was intended to apply to direct transfers from mobile money wallets to bank accounts. However, the Bank of Ghana explained that the suspension is necessary to ensure that any future adjustments within the mobile financial services ecosystem are introduced fairly and transparently.
The decision is expected to bring relief to millions of Ghanaians who depend heavily on mobile money services for daily financial transactions, business payments, savings, and transfers. Since the announcement of the proposed fee, many users had expressed concerns about the potential burden it could place on ordinary citizens and small businesses.
The Bank of Ghana further stressed that protecting consumers and supporting their financial wellbeing remain key priorities. The Central Bank noted that further engagement and consultation will help ensure that any future policy decisions are balanced and beneficial to both service providers and consumers.
The suspension also highlights the increasing importance of mobile money services in Ghana’s digital economy. Over the years, mobile financial services have become a major tool for financial inclusion, allowing millions of unbanked citizens to access convenient and secure financial services.
The statement, issued by the Communications Department of the Bank of Ghana, did not indicate when consultations would be concluded or whether the proposed fee would eventually be revised or withdrawn entirely. However, the latest development has already sparked positive reactions among many Ghanaians who view the suspension as a victory for public engagement and consumer protection.
“The fee was scheduled to take effect on 1 June 2026 but is now on hold to allow for further consultation.” — Bank of Ghana Press Release
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