Does withdrawal from MoMo wallet attract e-levy: Is deposit charged e-levy: Do receivers of MoMo pay e-levy: ATM e-levy charge: How much is charged for bank transfers to MoMo wallet

Momo users and vendors
Momo users and vendors

Does withdrawal from MoMo wallet attract e-levy?: Is deposit charged e-levy?: Do receivers of MoMo pay e-levy?: ATM e-levy charge?: How much is charged for bank transfers to MoMo wallet?

Does withdrawal from MoMo wallet attract e-levy?

NO. Withdrawing from your momo wallet will not attract e-levy.

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Is deposit charged e-levy?

Deposits /or cash-in services on MoMo wallet is not a charged service. So, E-levy will not be charged deposits or cash-in.

Do receivers of MoMo pay e-levy?

In withdrawing a sent money from someone, the sender only bears the e-levy cost but the receiver is exempted from the e-levy.

Assuming you sent cash in fragments amounting to GH¢100 (¢50, ¢20¢, 20, and ¢10) within 24 hours. It means the next transfer must be charged with the 1.5% e-levy.

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ATM e-levy charge?

ATM do not deduce an e-levy. Cashing out from it is not a taxable service under the Ghana Revenue Authority (GRA) directive for the electronic levy (e-levy).

How much is charged for bank transfers to MoMo wallet?

Transfers from bank account to MoMo wallet will be charged 1.5% on an amount equivalent to GH¢100. Banks were indicated as one of the sources that will be charged under the e-levy after implementation.

SOURCE: Coverghana.com.gh

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