Mobile Money business has been one of the most booming businesses of late as mobile money users continue to increase in numbers. However, this comes with some charges which the subscribers need to bear. Despite it's convenience, some people don't like doing mobile money transactions because of it's charges.
Sometimes we feel we are overcharged for our transactions. Yes it's good to feel that way because the charges seems to favour those doing higher mobile money transactions, at the end of the day the poor end up paying more charges than anyone else.
This article is written to explain in detail the charges involved in using mobile money and whether it's fair or not.
For withdrawals of GHC50.00 and below, the subscriber is charged GHC0.50 The problem here is that, even if the subscriber is withdrawing GHC5.00 the charge is still GHC0.50.
Now the second part of the charges ranges from any amount more than GHC50.00 up to GHC1000.00 which the subscriber is charged 1% of the withdrawal amount. This means that for any cash out of GHC100.00, the charge will be GHC1.00 and GHC10.00 for a cash out GHC1000.00 as well.
When it comes to the third part of the charges, any withdrawal which is more than GHC1000.00 and is upto GHC5000.00 is being charged GHC10.00. This means that if you're withdrawing more than GHC1000.00 you only pay for the first GHC1000.00 and the rest is free.
What is your opinion concerning these charges? Is it really fair that the less privileged should continue to pay more? Please leave your comments below, like, share and follow for more.
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