BoG Suspends MMFL’s Proposed 0.75% Wallet-to-Bank Transfer Fee

The Bank of Ghana has asked Mobile Money Fintech Limited (MMFL) to temporarily halt its planned 0.75% charge on wallet-to-bank transfers as authorities engage stakeholders over the proposal.

The charge was expected to begin on June 1, 2026, but has now been suspended after concerns emerged about the possible effect it could have on mobile money users and digital financial services.

In a statement issued on Tuesday, May 26, the central bank said the pause would allow more discussions to take place before any final decision is made.

According to the Bank of Ghana, the move is intended to protect consumers and maintain fairness within the country’s mobile financial services space.

The planned fee quickly became a topic of public discussion, with many people expressing worries that additional charges could discourage the use of mobile money and slow efforts toward financial inclusion.

For now, the central bank has not announced whether the fee will be adjusted, approved later, or cancelled entirely after consultations are completed.

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