Local telco giant MTN Ghana has reversed an earlier announced policy to increase charges on momo withdrawals of GHC 2000 and above to GHC 20.
On Friday, June 1, the company told its customers in a circular that, effective July 1, 2023, it will apply a 1% charge to withdrawal amounts less than GH 2,000 and increase the fee cap on GHC cash outs of amounts of Gh 2000 and beyond from GHC 10 to GHC 20.
However, in a statement on Monday, MTN indicated that it had withdrawn the decision.
“The planned review of the cash-out fee for Momo has been withdrawn. The current cash-out fee of 1%, capped at $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 statement read.
Although the reasons for the reversal are unclear, customers of the network have described the decision as welcome.
