Executive Member in charge of Operations, Research, and Implementation at the Mobile Money Advocacy Group Ghana (MoMAG), Stephen Quarcoo Gorman, has weighed in on the controversy surrounding the proposed 0.75% wallet-to-bank transfer fee announced by Mobile Money Fintech Limited.

Speaking on Atinka FM, monitored by GhanaWeb on May 28, 2026, Gorman criticised the manner in which the issue was communicated to the public.

He explained that the Bank of Ghana took hasty measures in both announcing and subsequently suspending the proposed 0.75% charge on direct wallet-to-bank transfers.

According to him, Mobile Money Fintech Limited should have directly informed its customers before any implementation plans became public.

“Mobile Money Fintech Limited was supposed to communicate the information to its customers because they did not want consumers to be surprised by the charges if implemented. Also, Mobile Money Fintech Limited cannot charge consumers without approval from the Bank of Ghana because the industry is guided by the Electronic Transactions Act,” he said.

He further argued that the Bank of Ghana’s decision to publicly halt the implementation after social media backlash created the impression that the central bank had prior knowledge of the fee introduction.

“When the BoG rushed to halt the implementation because of the controversies on social media, consumers assumed it was aware of it. I think the BoG should have made MTN communicate directly with its customers. So, I think it was a mistake on the part of the BoG to issue that statement about halting the 0.75% fee,” he stated.

Gorman also compared the development to the Electronic Transfer Levy (E-Levy), explaining that, unlike the government-imposed levy, the proposed wallet-to-bank charge is a private service fee limited to MTN transactions.

“The E-Levy also affected the banks, and it was not only about mobile money transactions. Also, the E-Levy went to the GRA and not private providers, but this one is limited to MTN,” he explained.

Clarifying how the proposed charge works, Gorman noted that the 0.75% fee, capped at GH¢5 per transaction, would be applied to the amount transferred from a mobile wallet to a bank account.

“We want to educate everyone that the wallet-to-bank transaction fee is charged by MTN and has nothing to do with the government,” he emphasised.

He also appealed to the Bank of Ghana to pay closer attention to charges imposed by commercial banks, describing some of the fees as excessive and burdensome on customers.

“I want to appeal to the BoG to regulate the amount some of these banks are charging because the fees imposed by some of these banks are outrageous. Also, they have refused to listen. When they want to adjust their charges upwards, they do not properly inform consumers. They are gradually killing us. I see no reason why banks should charge consumers for depositing money,” he added.

Gorman further urged Mobile Money Fintech Limited to maintain the current zero-fee policy on bank-to-wallet transfers and engage financial institutions privately to find a solution that benefits consumers.

“I wish MTN would maintain the zero-charge bank-to-wallet transfer policy. They should rather engage the banks behind closed doors to help consumers. This will also help the banks protect their customers because it will improve deposits into banks,” he said.

Watch the full interview below:



JHM/BAI