Telecommunications company, MTN Ghana has rescinded its decision to increase the transaction fees on Mobile Money cash-out.

According to them, the current withdrawal fee of 1 per cent capped at GH₵10 still remains the same.

This comes after Scancom PLC, operators of MTN Ghana in a Short Message Service (SMS) to its customers announced an upward review in Mobile Money withdrawal fee effective July 1.

It stated that the change will attract an upward adjustment flat rate of GH₵20 for transactions above GH¢2,000 and a 1% charge on transactions below GH¢2,000.

Following this announcement, some Ghanaians expressed their displeasure.

But the telecommunication giant on Tuesday, June 27 notified its customers that the change will no longer take effect.

“The planned review of cash out fee for MoMo has been withdrawn. The current cash out fee of 1%, capped at GH₵10 still remains and will be charged to your wallet.

"Do not pay any other fees. We apologise for any inconvenience this may have caused. Just MoMo it,” MTN Ghana said in a new SMS to its customers.