MTN puts temporary hold on planned increase of MoMo Cash-Out Fees from July 1st

MTN telecommunications, has announced the suspension of it’s decision to increase Mobile Money fees.

The decision, which would have seen a 1% charge on transactions up to GH¢2,000 and a flat rate of GH¢20 for transactions above, was scheduled to take effect from July 1, 2023. However, MTN has put the decision on hold indefinitely.

In a statement released on June 26, MTN Ghana said, “The planned review of cash-out fees for MoMo, scheduled for July 1, 2023, has been put on hold until further notice.” The current cash-out fee of GH¢10 still applies and will be charged to customers’ wallets.

MTN apologized for any inconvenience the decision may have caused and encouraged customers to use their MoMo service. The suspension of the decision has been met with relief by many who rely on the MoMo service for their daily financial transactions.

SOURCE: Coverghana.com.gh