The 1.5 per cent electronic transfer levy was implemented on May 1, 2022. In practical terms, this will increase mobile money transfer fees to 2.25 percent for customers who transact amounts greater than GH¢100 per day. Vodafone Cash customers, however, will only be required to pay the 1.5 percent e-levy as the Telco continues to waive ALL transfer fees to any network.
Vodafone Cash customers can send any amount to other mobile money users across the various networks and only pay the mandatory 1.5 percent e-levy, instead of the expected 2.25 percent transaction fees charged by other Telcos. Since the implementation of the e-levy on May 1, 2022, Ghanaians have shared numerous positive comments and commendations on social media concerning Vodafone Cash’s continued free transactions initiative.
In July 2020, Vodafone Cash took the unprecedented step of waiving all charges on any Vodafone Cash transfers to reduce the financial burden on customers brought on by the COVID-19 pandemic.
Commenting, Patricia Obo-Nai, Chief Executive Officer (CEO) of Vodafone Ghana, said: “At Vodafone, we understand that our customers are faced with financial difficulties due to the economic hardship resulting from the COVID-19 pandemic. This free service will help our customers navigate these challenges.
“We want our customers to confidently send money, be it for accessing health services, educational purposes or urgent remittances to family and loved ones in remote parts of the country without worrying about transfer charges. We are excited that this service has brought great financial relief to our customers and small businesses across the country.”
Vodafone Cash has earned a name for itself by providing leadership through innovative financial products. In 2021, the free transfer service was awarded the Chartered Institute of Marketing (CIMG) ‘Product of the Year’, and won the ‘Most Innovative Product of the Year’ at the Ghana Information Technology and Telecommunications Awards (GITTA).
Prior to this initiative, Vodafone Ghana was the first network operator to allow customers to continue to enjoy free charges on interoperability transactions (transactions to other networks) below GH¢100 even after the Bank of Ghana lifted a directive for operators to waive the charges. To send money to other networks, Vodafone Cash subscribers should dial *110#, select option 1 ‘Send Money’, select option two ‘Other Networks’, and follow the steps.
Customers who have not subscribed to the service yet can simply dial *558# to register. Non-Vodafone customers can purchase a SIM card from any Vodafone Agent or Retail Shop, register with a Ghana Card and then activate their cash wallet.