Mobile Money Cash-out Charges Increased In Ghana

In today’s ICT News in Ghana from ICT Catalogue as a tech blog, it has been confirmed that there will be an increase in mobile money cash-out charges in Ghana.

Effective Thursday July 1, 2020, Members of the Mobile Money Agents Association of Ghana (MMAAG) have announced in increase in cash out services.

When this happens, it means customers will now have to pay more for cash-out services than previously.

According to a statement issued today, Monday June 28 by the association appealed to customers to bear with them and comply.

“To the general public, please take note of these new changes of mobile money service charges taken effect from 1st July 2021. The same day the 10% tax imposition by the government on our cash out service charge begins. We are pleading with you to comply with our members in their various shops”, the association said.

“This is never our wish but we don’t have a choice but the financial commitment are too much and absorbing this leave us with nothing at the end of the day”, they added.

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The charge increase follows an emergency meeting on Friday, June 25. The Association had complained about back-door increase in taxes imposed on telecommunication companies by government, thereby forcing them to pass on the charges to their customers.

According to Members of the Mobile Money Agents Association of Ghana (MMAAG), the government has ordered the telecommunication companies in Ghana to deduct 10 percent extra from Cash-out service wallet.

“In total, on each network, every agent will be paying 20% tax on monthly basis,” they said in a press statement on Friday.

“Initially, agents pay 5% on Cash-in service wallet but it was secretly increased to 10% without our knowledge.

“We feel this is a gross disregard to procedures.”

They counted the numerous operational costs despite the risks of armed robbery, acid baths, fraud and insecurity, which they say leads to death, deformity, maiming and loss of huge amounts of money in Ghana.

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“The unfortunate aspect of it all is that the deceased, and/or victims are left to their families without any form of support from government.”

MMAAG confirmed that — since government has not heeded to their concerns, they will pass all the costs onto their customers.

“Management is by this press informing all MoMo Agents to transfer the cost to the customer.

“We are advising our members to transfer the cost to those who seek our services.”

In summary of today’s ICT News from Ghana, it can be confirmed from the information sighted on TV3 Ghana’s 3News.com portal that — Mobile Money Cash-out Charges Increased In Ghana.

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