Is E-Levy Smuggled Back? MTN Introduces New Charges on MoMo-to-Bank Transfers From June 1
Millions of users of MTN Ghana Mobile Money services will begin paying charges on transfers from their MoMo wallets to bank accounts starting June 1, 2026, following a new fee adjustment announced by the telecommunications giant.
According to a notice sent to customers, transfers from MTN MoMo wallets to bank accounts will now attract a 0.75% fee per transaction, with charges capped at GH¢5 regardless of the amount transferred. The adjustment applies specifically to transfers from MoMo wallets into bank accounts and is expected to affect individuals, traders, and businesses that frequently move funds between mobile wallets and traditional banking platforms.
MTN explained in its customer message that the new fee structure is aimed at helping the company improve and sustain its mobile financial services. The telecom provider noted that the move will help it “continue to serve customers better.”
Under the new arrangement, a customer transferring GH¢100 from a MoMo wallet to a bank account will pay 75 pesewas as a transaction fee, while transfers of GH¢667 and above will attract the maximum capped fee of GH¢5. Previously, some customers — particularly those transferring funds between their own linked MoMo wallets and bank accounts — were able to enjoy such transactions at no extra cost.
The announcement has already triggered widespread reactions among Ghanaians, especially mobile money users who rely heavily on MoMo services for business operations, salary transfers, savings, and daily financial transactions. Many social media users have begun comparing the new charges to the controversial Electronic Transfer Levy (E-Levy), questioning whether electronic transaction charges are gradually returning through different forms.
Historical Background on E-Levy
The Electronic Transfer Levy, popularly known as E-Levy, was introduced by the Government of Ghana in 2022 under the administration of former President Nana Addo Dankwa Akufo-Addo as part of measures to increase domestic revenue mobilization.
The levy was initially proposed at 1.75% on electronic transactions, including mobile money transfers, bank transfers, merchant payments, and inward remittances. However, the policy faced intense public opposition from citizens, business groups, economists, and opposition political parties, who argued that it would discourage digital payments and place additional financial burdens on ordinary Ghanaians.
Following heated debates in Parliament and nationwide criticism, the government later reduced the levy to 1.5% before eventually reviewing aspects of its implementation. Despite the reduction, many Ghanaians continued to oppose the tax, with critics insisting that it negatively affected mobile money transactions and financial inclusion efforts in the country.
In 2025, the E-Levy was officially abolished after sustained public pressure and policy changes by the new administration. Its removal was widely welcomed by mobile money users and digital business operators across Ghana.
Although MTN’s newly announced charge is not a government-imposed tax like the E-Levy, the similarity in deductions on electronic transfers has revived public debate over transaction costs within Ghana’s digital finance ecosystem. MTN, however, maintains that the deduction is a service charge introduced by the company and not a state tax.
The company is yet to indicate whether additional adjustments will be made to other categories of MoMo transactions in the coming months.
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