The 1.5% levy on wire transfers was introduced on 1st May 2022. This will increase mobile money transfer fees to 2.25% for customers transacting amounts above GHS 100.00 per day. Vodafone Cash customers, however, will only be required to pay the 1.5% e-tax as Telco continues to waive ALL transfer fees to any network.
Vodafone Cash customers can send any amount to other mobile money users on the various networks and only pay the mandatory 1.5% electronic debit, instead of the 2.25% transaction fee forecast billed by other telecommunications operators. Since the introduction of e-direct debit on 1st In May 2022, Ghanaians shared many positive comments and congratulations on social media regarding Vodafone Cash’s continued free transactions initiative.
In July 2020, Vodafone Cash took the unprecedented step of waiving all fees on all Vodafone Cash transfers to reduce the financial burden on customers due to the COVID-19 pandemic.
Commenting, Patricia Obo-NaiCEO of Vodafone Ghana, said:
“At Vodafone, we understand that our customers are facing financial hardship due to the economic hardship resulting from the COVID-19 pandemic. This free service will help our customers through these challenges. We want our customers to send money with confidence, whether to access health services, for educational purposes, or to send urgent remittances to family and loved ones in remote parts of the country, without worrying about transfer fees. delighted that this service has brought great financial relief to our customers and small businesses across the country.
Vodafone Cash has made a name for itself by providing leadership through innovative financial products. In 2021, the free transfer service received the Chartered Institute of Marketing (CIMG) Product of the Year Award and won the Most Innovative Product of the Year Award at the Ghana Information Technology and Telecommunications Awards (GITTA) .
Prior to this initiative, Vodafone Ghana was the first network operator to allow customers to continue to enjoy free charges on interoperability transactions (transactions to other networks) below GHS 100, even after the Bank of Ghana lifted a directive requiring operators to waive fees.
To send money to other networks, Vodafone Cash subscribers should dial *110#, select option 1 ‘Send money’, select option 2 ‘Other networks’ and follow the steps.
Customers who are not yet subscribed to the service can simply dial *558# to register.
Non-Vodafone customers can buy a SIM card from any Vodafone agent or retail store, register with a Ghana card and then activate their cash wallet.