Starting June 1, customers using MTN Mobile Money (MoMo) will begin paying charges when transferring funds from their MoMo wallets directly to bank accounts.
The new policy marks a significant change in the cost structure of mobile money transactions and is expected to affect millions of users who rely on the service for daily financial activities.
In a text message dispatched to customers on the evening of Monday, May 25, 2026, the company announced that all transfers from MoMo wallets to bank accounts will now attract a fee of 0.75 percent per transaction.
The charge, which is capped at GH₵5 per transfer, will apply regardless of whether the bank account belongs to the same individual who owns the MoMo wallet.
It reads: “From 1 June 2026, transfers from your MoMo Wallet to bank accounts will attract a fee of 0.75% per transaction, capped at GH₵5. This will help us continue to serve you better. Thank you for choosing MoMo.”
The update comes as part of adjustments within the mobile money ecosystem operated by MTN Group, which has expanded its digital financial services across several African markets, including Ghana.
Mobile money has become one of the most widely used financial platforms for sending, receiving, and storing money, especially for individuals without traditional bank accounts.
SOURCE: Newscenta