Momo Cash-out charges increased

Members of the Mobile Money Agents Association of Ghana (MMAAG) have announced in 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 taken effect from 1st July 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 but the financial commitment are too much and absorbing this leave 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 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 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 pay 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 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 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 customer.

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

Source: 3 News

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