MTN introduces 0.75% charges on MoMo-to-bank transfers from June 1

Telecommunications giant MTN Ghana has announced new charges on transfers from Mobile Money (MoMo) wallets to bank accounts, with the changes set to take effect from June 1, 2026.

In a text message sent to customers on Monday, the company disclosed that transfers from MoMo wallets to bank accounts will now attract a fee of 0.75 percent per transaction, capped at GHS 5.

The message sent to subscribers stated: “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.”

According to MTN Ghana, the introduction of the new fee structure is intended to support improvements in service delivery and operational efficiency.

The company added that the adjustment “will help us continue to serve you better.”

The announcement is expected to generate widespread public discussion among mobile money users, particularly individuals and businesses that frequently use MoMo-to-bank transfers for daily financial transactions.

Many customers rely heavily on mobile money services for salary payments, business transactions, savings transfers, and other banking activities due to the convenience and speed of digital payments.

Under the new pricing structure, customers transferring funds from their MoMo wallets into bank accounts will pay a percentage-based fee, although the maximum deduction on a single transaction will not exceed GHS 5.

Mobile money has become one of Ghana’s most widely used financial services platforms, playing a major role in promoting financial inclusion and digital transactions across the country.

Over the years, MoMo services have evolved beyond person-to-person transfers to include bill payments, merchant payments, savings products, loan services, and bank integrations.

Industry analysts say any adjustments to transaction fees are likely to attract strong reactions from consumers, especially at a time when many households and small businesses are managing rising living and operational costs.

Some customers are expected to seek further clarification from MTN Ghana regarding how the charges will be calculated, whether the fee applies to all partner banks, and if there will be exemptions for certain transaction categories.

The development also adds to ongoing conversations around digital transaction costs and the affordability of mobile financial services in Ghana.

MTN Ghana is expected to provide additional details and customer guidance ahead of the June 1 implementation date.