MTN Mobile Money users will begin paying a 0.75 percent transaction fee on transfers from MoMo wallets to bank accounts starting 1 June 2026, with the charge capped at GH¢5 per transaction.
The new adjustment applies specifically to mobile money transfers initiated from MTN MoMo wallets into commercial bank accounts, marking a change in the cost structure of one of Ghana’s most widely used digital financial services platforms.
Mobile money has become a central pillar of Ghana’s financial ecosystem over the past decade, enabling millions of users to send, receive, and store money without traditional banking infrastructure. MTN MoMo, the country’s dominant mobile money service, processes a significant share of digital transactions, making any changes to its fee structure highly impactful for both individuals and businesses.
The introduction of the new charge means that users transferring funds from their mobile wallets to bank accounts will now incur a proportional fee based on transaction value, although the GH¢5 cap limits the maximum cost per transfer. For small transactions, the fee will remain relatively low, but for larger transfers, the cap ensures users are not excessively charged.
Financial analysts note that such adjustments are often linked to operational costs, interoperability charges between mobile money platforms and banks, and broader efforts to sustain digital payment infrastructure. As mobile money systems expand in scale and complexity, providers typically revise fees to balance service sustainability with user affordability.
In Ghana, mobile money is widely used not only for personal transfers but also for business payments, bill settlements, school fees, and merchant transactions. The introduction of new charges on bank withdrawals could therefore influence user behaviour, potentially encouraging more wallet to wallet transactions or increased reliance on in app financial services.
The development also comes at a time when Ghana’s digital financial sector is experiencing rapid growth, with increasing adoption of cashless payments across urban and rural areas. The Bank of Ghana has consistently promoted financial inclusion through digital platforms, while also maintaining regulatory oversight to ensure stability and transparency in pricing structures.
Users are expected to closely monitor the impact of the new fee on their daily transactions, especially those who frequently move funds between mobile wallets and traditional bank accounts. Small business owners and informal sector traders, who rely heavily on mobile money for liquidity management, may be among the most affected groups.
MTN is expected to provide further clarification on the implementation details ahead of the effective date, including updates within its mobile money application and customer communication channels.
As the digital financial landscape continues to evolve in Ghana, such policy adjustments highlight the ongoing balance between expanding access to financial services and maintaining the sustainability of the platforms that support them.
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