The Ghana Chamber of Telecommunications has announced that depositing money into one’s Mobile Money (MoMo) wallet is free of charge.
The Chief Executive Officer of the chamber, Dr Kenneth Ashigbey, made the announcement following reported cases of some MoMo agents imposing deposit fees on customers.
He advised individuals charged such fees to report the agent to their respective mobile networks or law enforcement promptly.
“Report the agent to the network and the police. There is no charge for depositing money in your account. There is no charge at all,” he said.
Dr Ashigbey also clarified that if both a bank account and a MoMo account are linked to the same Ghana Card used during registration, it will be recognized by the system as a self-transfer.
He added that no charges should apply for money transfers between MoMo wallets and bank accounts in such cases.
“The law is very specific. Transfers between yourself on different wallets or into different bank accounts are not supposed to attract any charge at all,” he stated.
He explained that during the Christmas holidays, there were technical challenges which resulted in erroneous fees.
“It was something that, over the Christmas holidays, we were dealing with that to make sure that the dealings were aligned. So if you have a situation like that, you should report to your bank or your MoMo company,” he added.