In the support of the fight against the COVID-19 pandemic, all telecommunication networks who operate the mobile money have reduced service fees on all mobile money transactions.

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As part of measures to prevent the spreading of the virus in the country, the telcos in collaboration with the Bank of Ghana, believe the move will help promote digital payment system for the next three month from Friday 20 March 2020.

The central bank has ordered that

  1. no charges on mobile money transactions up to GH¢100 (excluding cashouts), that is money up to GH¢100 sends to another recipient on the same network or another network will incur no charges.
  2. daily transaction limit of mobile money users has been increased for various users.
  3. all mobile users can use their already existing mobile phone registration details to be on-board with the Minimum KYC Account.

The Bank of Ghana and telcos believe the measures will facilitate more cashless system which is efficient to reduce people’s daily contact with physical cash.

The COVID-19 virus can survive on many infected surfaces for hours or days including money.

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