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

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

The proposed charge, which was scheduled to take effect on June 1, 2026, has been put on hold to allow for broader stakeholder engagement and review.

The wallet-to-bank transfer fee, announced by MMFL, had generated public discussion over concerns about its potential impact on digital transactions and financial inclusion.

In a press release issued on Tuesday, May 26, 2026, the central bank said the decision formed 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Ghana did not indicate when consultations would be concluded or whether the proposed fee would eventually be revised or withdrawn.