Ghana Education News > Blog > Business & Finance > 5 reasons why you may be charged for money transfers between bank accounts linked to your MoMo wallet 

5 reasons why you may be charged for money transfers between bank accounts linked to your MoMo wallet 

5 reasons why you may be charged for money transfers between bank accounts linked to your MoMo wallet 

Do you know that although you may have registered your SIMs and linked them all to your Ghana Card, you may be charged for money transfers between bank accounts linked to your MoMo wallet? This can result from one or more errors during the linking of the Ghana card to the various SIMs. You must take steps to avoid being charged.

In this article, we will remove the veil and inform you so that you can take proactive steps to rectify any challenge you have currently and prevent charges from hitting your account when you make transfers from one SIM to the other or from one of your bank accounts to the other.

According to the Ghana Revenue Authority, transfers between accounts owned by the same person are exempt from E-Levy if both accounts are registered with your Ghana Card. Please confirm your Ghana Card registration at your bank or telco to avoid the wrong E-Levy charges.

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5 reasons why you may be charged for money transfers between bank accounts linked to your MoMo wallet

1. Non-cancellation of reservations (uncompleted payment processes) by Charging Entities.

2. Failure to update Taxpayer Identification Number (TIN)/Ghanacard PIN on the common platform by Charging Entities.

3. Failure of customers to provide Charging Entities with Ghanacard PIN/TIN.

4. Non-integration of channels on the common platform by Charging Entities.

5. Incorrect reporting onto the common platform by Charging Entities.

The GRA emphasized that these wrongful charges stem from Charging Entities’ non-compliance with the specified guidelines for connecting to the Electronic Levy Management System (ELMAS).

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