Momo Deposits do not Attract Charges – Telecommunications Chamber

The CEO of the Chamber of Telecommunications, Dr. Kenneth Ashigbey, says, depositing money into Mobile Money (MoMo) accounts should not involve any charges.

He stated this in response to reported cases of certain MoMo agents allegedly imposing deposit fees.
On charges for money transfers between MoMo wallets and bank accounts, Dr. Ashigbey clarified that if both the bank account and the mobile money account are linked to the same Ghana card used during registration, the system recognizes it as a self-transfer, exempt from charges.
He said there were issues of such during the Christmas holidsys hence, he advised affected individuals to report problems to their banks or MoMo service providers.
Aside technical challenges, Dr. Ashigbey underscored that the law prohibits charges for self transfers, whether across different wallets or into different bank accounts.
He encouraged individuals facing such situations to promptly report the agent to their respective mobile networks, banks or law enforcement emphasizing that there should be no charge for depositing money into one’s account.

The CEO of the Chamber of Telecommunications, Dr. Kenneth Ashigbey, says, depositing money into Mobile Money (MoMo) accounts should not involve any charges.
He stated this in response to reported cases of certain MoMo agents allegedly imposing deposit fees.
On charges for money transfers between MoMo wallets and bank accounts, Dr. Ashigbey clarified that if both the bank account and the mobile money account are linked to the same Ghana card used during registration, the system recognizes it as a self-transfer, exempt from charges.
He said there were issues of such during the Christmas holidsys hence, he advised affected individuals to report problems to their banks or MoMo service providers.
Aside technical challenges, Dr. Ashigbey underscored that the law prohibits charges for self-transfers, whether across different wallets or into different bank accounts.
He encouraged individuals facing such situations to promptly report the agent to their respective mobile networks, banks or law enforcement emphasizing that there should be no charge for depositing money into one’s account.