MTN caps new MoMo-to-bank transfer charges at GHC 5
Telecommunications company MTN Ghana has announced new charges on transfers from Mobile Money (MoMo) wallets to bank accounts, introducing a fee structure that will take effect from 1 June. In a text message sent to customers on Monday, the company said transfers from MoMo wallets to bank accounts would attract a charg...
Telecommunications company MTN Ghana has announced new charges on transfers from Mobile Money (MoMo) wallets to bank accounts, introducing a fee structure that will take effect from 1 June.
In a text message sent to customers on Monday, the company said transfers from MoMo wallets to bank accounts would attract a charge of 0.75% per transaction, capped at GHS 5.
“From 1 June 2026, transfers from your MoMo Wallet to bank accounts will attract a fee of 0.75% per transaction, capped at GHS 5. This will help us continue to serve you better,” MTN said in the message.
The move is likely to spark debate among users of Ghana’s mobile money services, particularly individuals and businesses that use MoMo-to-bank transfers for transactions, salary payments and day-to-day banking activities.
Under the new fee structure, customers moving funds from their mobile wallets into bank accounts will pay a percentage-based charge, although the maximum fee for a single transaction will not exceed GHS 5.
MTN did not immediately provide additional details on the reasons behind the decision beyond the customer notice.