MTN withdraws planned review of MoMo cash-out fee; 1% charge maintained

Telecommunication network giant, MTN, has withdrawn the planned review of the cash-out fee for mobile money.

It had earlier announced that starting Saturday, July 1, 2023, customers will experience an adjustment in fees for cash-out transactions that exceed a specific threshold [GH¢2,000 and above].

The GH¢20 flat rate charge on withdrawals of GH¢2,000 and above will be deducted directly from the customer's wallet.

But in a new message dispatched to customers on June 27, 2023, the mobile network operator said the review has been withdrawn.

It noted that the current fee of 1%, which is capped at GH¢10 remains the charge on all withdrawals.

"Y'ello valued customer, the planned review of the cash-out fee for MoMo has been withdrawn. The current cash out fee of 1%, capped at GH¢10 still remains and will be charged to your wallet. Do not pay any other fees, We apologize for any inconvenience this may have caused," the SMS read.

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