It's illegal to take charges for mobile money deposits – Chamber of Telecommunications CEO

In response to recent reports of Mobile Money (MoMo) agents allegedly imposing deposit fees, Dr. Kenneth Ashigbey, the Chief Executive Officer of the Chamber of Telecommunications, has reaffirmed that there are no charges associated with depositing money into one's MoMo account.

He made this clarification during an inverview on the Citi Breakfast Show.

"There is no charge for depositing

Read full articlemoney in your account. There is no charge at all," he stated.

Dr. Ashigbey urged individuals who demanded of such fees to report the agents to their respective mobile networks or law enforcement agencies.

Dr. Ashigbey also addressed concerns about charges for money transfers between MoMo wallets and bank accounts. He stated that if both accounts are linked to the same Ghana card used during registration, the system recognizes it as a self-transfer, and no charges should apply.

"The law is very specific, transfers between yourself on different wallets or into different bank accounts are not supposed to attract any charge at all," he said.