The 1.5 per cent electronic transfer levy was implemented on May 1, 2022.
In practical terms, this will increase mobile money transfer fees to 2.25 per cent for customers who transact amounts bigger than GH¢100.00 per day.
However, Vodafone Cash customers will only be required to pay the 1.5 per cent E-Levy because the transfer fees to any network remains free, a release from the company has said.
Vodafone Cash customers can send any amount to other mobile money users across the various networks and only pay the mandatory 1.5 per cent E-Levy, instead of the expected 2.25 per cent transaction fees charged by other telcos. Since the implementation of the E-Levy on May 1, 2022, Ghanaians have shared numerous positive comments and commendations on social media concerning Vodafone Cash’s continued free transactions initiative,” it said.
The release said in July 2020, Vodafone Cash took a bold step to waive all charges on any Vodafone Cash transfers to reduce the financial burden on customers brought on by the COVID-19 pandemic.
The Chief Executive Officer of Vodafone Ghana, Patricia Obo-Nai, in the release said: “At Vodafone, we understand that our customers are faced with financial difficulties due to the economic hardship resulting from the COVID-19 pandemic. This free service will help our customers navigate these challenges. We want our customers to confidently send money, be it for accessing health services, educational purposes, or urgent remittances to family and loved ones in remote parts of the country without worrying about transfer charges. We are excited that this service has brought great financial relief to our customers and small businesses across the country.”
The release said Vodafone Cash had earned a name for itself by providing leadership through innovative financial products.