Mobile money cash-out charges increased

Members of the Mobile Money Agents Association of Ghana (MMAAG) have announced an increase in cash-out services effective, Thursday, July 1.

This means customers will now have to pay more for cash-out services than before.

A statement issued Monday, June 28 by the association appealed to customers to bear with them and comply.

“To the general public, please take note of these new changes of mobile money service charges taking effect from July 1 2021. The same day the 10% tax imposition by the government on our cash-out service charge begins. We are pleading with you to comply with our members in their various shops”, the association said.

“This is never our wish but we don’t have a choice since the financial commitments are too much and absorbing and this leaves us with nothing at the end of the day”, they added.

The charge increase follows an emergency meeting on Friday, June 25. The Association had complained about a back-door increase in taxes imposed on telecommunication companies by the government, thereby forcing them to pass on the charges to their customers.

According to them, the government has ordered the telecommunication companies to deduct 10 percent extra from the Cash-out service wallet.

“In total, on each network, every agent will be paying 20% tax on a monthly basis,” they said in a press statement on Friday.

“Initially, agents paid 5% on Cash-in service wallet but it was secretly increased to 10% without our knowledge.

“We feel this is a gross disregard to procedures.”

They counted the numerous operational costs aside from the risks of armed robbery, acid baths, fraud and insecurity, which they say leads to death, deformity, maiming and loss of huge amounts of money.

“The unfortunate aspect of it all is that the deceased, and/or victims are left to their families without any form of support from the government.”

They said since the government has not heeded their concerns, they will pass all the costs onto their customers.

“Management is by this press informing all MoMo Agents to transfer the cost to the customers.

“We are advising our members to transfer the cost to those who seek our services.”