MTN has reversed its decision to adjust upwards its mobile money withdrawal transaction fees.

“The current cash out fee of 1%, capped at GHS10 still remains and will be charged to your wallet,” the telecommunication giant said in a message to its customers.

“Do not pay any other fees. We apologise for any inconvenience this may have caused. Just Momo it,” MTN cautioned.

The announcement follows an earlier message alerting its users that starting July 1, 2023, customers will experience an increase in fees for cash-out transactions above a certain threshold.

In a recent SMS circular sent to its customers, MTN MobileMoney Limited informed them about the adjustment.

The prompt said cash-out transactions below GH₵2,000 will now attract a fee of 1% of the transaction amount.

However, for cash-out transactions of GH₵2,000 and above, a flat fee of GHS20 will be charged directly from the customer’s wallet. The circular also emphasized that customers should not pay any additional fees to Mobile Money agents and should simply use the “Momo” platform for their transactions.