BoG halts proposed 0.75% wallet-to-bank transfer fee

The Bank of Ghana (BoG) has instructed Mobile Money Fintech Limited (MMFL) to temporarily suspend the implementation of its proposed 0.75% fee on direct wallet-to-bank transfers, pending further stakeholder engagement.

The proposed charge, initially scheduled to take effect on June 1, 2026, has been put on hold to facilitate broader stakeholder consultations and review.

The wallet-to-bank transfer fee announced by MMFL had sparked public debate over its potential impact on digital transactions and financial inclusion.

In a press release issued on Tuesday, May 26, 2026, the central bank stated that the decision forms part of efforts to ensure fairness in the mobile financial services ecosystem while protecting consumers.

This decision reflects our commitment to ensuring that any changes to charges in the mobile financial services ecosystem are introduced fairly, protect consumers, and support their financial wellbeing, the statement said.

The Bank of Ghana did not indicate when the consultations would conclude or whether the proposed fee would eventually be revised or withdrawn.