Quick answer: Mobile money in Ghana is run by three telecom-linked providers: MTN MoMo, which handles well over two-thirds of the market through its subsidiary Mobile Money Fintech Limited, Telecel Cash (formerly Vodafone Cash) and AT Money (formerly AirtelTigo Money). Bank of Ghana data show 80.49 million registered accounts, 26.66 million active accounts and GH¢4.54 trillion in transactions in 2025, up 50.8% in a year. The 1% E-Levy on transfers was abolished from 2 April 2025, so today you pay only the provider's own fees: receiving money, depositing cash and paying registered merchants are free, while cashing out at an agent on MTN MoMo costs 1% for most amounts, with a GH¢20 cap.
GHMM1021Who runs mobile money in Ghana
| Indicator (Bank of Ghana) | 2024 | 2025 |
|---|---|---|
| Registered accounts | 72.98 million | 80.49 million |
| Active accounts (90 days) | 23.49 million | 26.66 million |
| Active agents (30 days) | 404,370 | 491,057 |
| Transaction value | GH¢3.01 trillion | GH¢4.54 trillion |
| Transaction volume | 8.09 billion | 9.70 billion |
| Float balance at year end | GH¢27.19 billion | GH¢39.58 billion |
Registered accounts outnumber Ghana's population because many people hold wallets on more than one network; the active-account figure is the better measure of real use. Growth accelerated after the E-Levy repeal: Parliament passed the repeal bill in March 2025, the President signed it on 2 April 2025, and the Ghana Revenue Authority told providers to stop deducting the levy from midnight that day. By August 2026 registered accounts had reached about 85.8 million and the monthly transaction value about GH¢518.8 billion. MTN's mobile money business now sits in a separate company, Mobile Money Fintech Limited, licensed by the Bank of Ghana, which earned about GH¢6.0 billion in revenue in 2025.
Fees in 2026: what is free and what is not
| Transaction on MTN MoMo | Fee |
|---|---|
| Receiving money, cash deposits at agents, merchant payments with MoMo Pay, utility bills | free |
| Cash-out at an agent, GH¢1 to GH¢49.99 | GH¢0.50 flat |
| Cash-out at an agent, GH¢50 to GH¢1,999.99 | 1% of the amount |
| Cash-out at an agent, GH¢2,000 and above | GH¢20 cap |
| Transfers to other networks or banks through the GhIPSS interoperability switch | 0.75%, capped at GH¢7.50 |
| Transfers between your own Ghana Card-linked wallet and bank account (direct link) | free; a proposed 0.75% fee was suspended by the Bank of Ghana |
Fees reported in MTN MoMo tariff guides and the Bank of Ghana's notices; Telecel Cash and AT Money use similar structures and often price transfers lower to compete. For transfers to other MTN numbers, small amounts are free and larger ones carry a percentage fee with a cap, but guides disagree on the exact band, so check the fee shown on the confirmation screen before you enter your PIN. In May 2026 MTN announced a 0.75% charge, capped at GH¢5, on direct wallet-to-bank transfers from 1 June; social media wrongly called it a return of the E-Levy, and on 26 May the Bank of Ghana told the company to suspend it pending consultation. Mobile money providers must also pass at least 80% of the interest earned on customer float to wallet holders, paid quarterly.
The Bank of Ghana's suspension of MTN's proposed 0.75% wallet-to-bank fee, announced on 26 May 2026, remains in force in October 2026: the charge was due to start on 1 June 2026 but has not been collected, so direct transfers between a Ghana Card-linked wallet and your own bank account still cost nothing. Transfers through the GhIPSS switch still carry the standard 0.75%, capped at GH¢7.50, as of October 2026.
Wallet tiers have not changed since 1 March 2024, but Bank of Ghana data for August 2026 show active accounts at 26.4 million and active agents at 594,000, up from 550,000 in July 2026. For same-network sending, MTN MoMo charges nothing on transfers up to GH¢100 and GH¢7.50 flat from GH¢1,000, as of October 2026. Telecel Cash and AT Money often price transfers lower; comparing their published tariffs against MTN's matters as much as comparing savings rates.
What cashing out really costs
Our own calculation from the fee bands above: withdrawing GH¢40 costs GH¢0.50, or 1.25%; GH¢200 costs GH¢2, GH¢500 costs GH¢5 and GH¢1,500 costs GH¢15, all 1%; and GH¢3,000 costs the GH¢20 cap, or 0.67%. Ten small withdrawals of GH¢40 cost GH¢5 in fees, while a single GH¢400 withdrawal costs GH¢4. The cheapest habit is to cash out less often and pay directly from the wallet wherever a merchant accepts MoMo Pay or the national GhQR code, because the buyer pays nothing. If you move money to a bank often, linking your Ghana Card-verified wallet to your own bank account avoids the 0.75% interoperability fee. To keep savings rather than spending money, compare our guide to the best savings accounts in Ghana.
Wallet limits and KYC tiers
| KYC tier | What you provide | Maximum balance | Daily limit | Monthly limit |
|---|---|---|---|---|
| Minimum | Ghana Card registration | GH¢5,000 | GH¢3,000 | GH¢10,000 |
| Medium | plus next of kin and source of funds | GH¢40,000 | GH¢15,000 | no limit |
| Enhanced | plus proof of address | GH¢75,000 | GH¢25,000 | no limit |
Limits in force since 1 March 2024 with Bank of Ghana approval; some high-volume customers can receive higher daily limits after additional checks. The Ghana Card is the only accepted identity document for opening or upgrading a wallet. Mobile money balances are not bank deposits: wallets are not directly insured by the Ghana Deposit Protection Corporation, whose cover is GH¢6,250 per depositor at a bank, but providers must keep 100% of customer float in trust accounts at regulated banks, separate from their own money. Loans offered inside MoMo menus come from partner banks and fintechs; check the cost before borrowing, as our guides to Fido loans and licensed loan apps in Ghana explain.
Fraud and how to get money back
Fraud has grown with usage: payment service providers reported 24,124 fraud cases in 2025, up 54% from 15,673 in 2024, with about GH¢37 million at risk, according to the Bank of Ghana's fraud report published in July 2026. The common tricks are callers posing as MTN or bank staff who ask for your PIN or a one-time code, SIM swaps using forged Ghana Cards, fake online sellers who block you after payment, and unlicensed loan apps; on 7 October 2026 the Bank of Ghana named 20 illegal digital lenders. Never share your PIN, even with someone who says they are reversing a payment. If you send money to the wrong number, start a reversal from your provider's USSD menu or app at once, before the recipient withdraws it, and follow up at an official service centre. Providers must acknowledge complaints within 24 hours; if yours is not resolved, take it to the Bank of Ghana's consumer protection department, and report cyber fraud to the police and the Cyber Security Authority.
Check two things before your next cash-out or transfer. First, confirm on your provider's own tariff guide whether your same-network transfers fall inside the free band, because the figures circulating on social media are often out of date. Second, if you move money to a bank regularly, ask at a service centre whether your wallet is linked directly to your account by Ghana Card; only that route avoids the interoperability charge. For borrowing inside wallet menus, use only lenders on the Bank of Ghana's licensed list, such as those covered in our legit loan apps guide, since the central bank named 20 illegal digital lenders on 7 October 2026.