Beginning March 20, 2020, all mobile money transfers of GH₵100 and below will attract no charges from service providers for the next three months, subject to review, the Bank of Ghana has announced.
The move forms part of measures to facilitate more efficient payments and promote digital forms of payments, as well as to contain the impact of the COVID-19 on the Ghanaian economy.
“The Bank of Ghana has agreed with banks and mobile network operators on measures to facilitate more efficient payments and promote digital forms of payments for the next three months, subject to review, effective March 20, 2020.
All mobile money users can send up to GH₵100 for free (excluding cash out). This includes sending to a recipient on the same network, or another network via the interoperability platform,” a press release from the central bank said.
In addition, the daily transaction limits for users have been increased, and all mobile phone subscribers are now permitted to use their already existing mobile phone registration details to be on-boarded for Minimum KYC Account.