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

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Mobile Money Fintech Limited (MMFL) has announced new charges on transfers from Mobile Money (MoMo) wallets to bank accounts, set to take effect from June 1, 2026.

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

The message read: “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 the company, this move "will help us continue to serve you better.”

The announcement is expected to trigger public debate among mobile money users, many of whom rely on MoMo-to-bank transfers for business transactions, salary movements, and everyday banking activities.

The new charge means customers transferring money from their MoMo wallets into bank accounts will pay a percentage-based fee, although the total deduction on a single transaction will not exceed GHS 5.

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Charges

MTN