Split cash transactions are not allowed, according to telecommunications company MTN, which also implores its users to report any Mobile Money (MoMo) agents that engage in such illegal activity. The MTN charges a predefined rate fixed at GH 10 cedis on GH 1000 and more for mobile money cash withdrawals at service centers.
However, some dishonest agents and merchants employ split cash transactions, charging GH10 for every 1000 Ghana cedis, which makes customers pay higher fees.
Customers who want to withdraw GHC 3,000 are reportedly instructed to divide the amount into three separate transactions, each of which will be charged a GHC 10 cost (instead of a GHC 10 fee for the whole GHC 3,000 withdrawal).
According to Mr. Mawuena Agogo, retail experience manager for the Eastern, Volta, and Oti regions, the behavior was prohibited. He asked clients to phone 100 to lodge a complaint or to report any such activity to any MTN office. He asserted that both merchants and agents knew what they were doing was improper, yet regrettably they carried it out on the company's behalf.
"Because such transactions are personal encounters, the system could not capture them, which is why we are urging clients to report them, so the necessary action is taken," he said.
In response to concerns, he said that a few agents had been suspended and given a strict deadline to refund owners of the overcharged prices.
During a meeting with customers from the informal sector at Akyem Tafo, Mr. Agogo talked about fraud prevention and other uncomfortable situations MTN customers face.
The conference was organized in accordance with complaints that transaction fees were too high and that splitting cash transactions to charge more in transaction fees was commonplace.
"I had to pay GH¢40.00 charges on GH¢4,000.00 withdrawal because I was asked by the agent to split and withdraw GH¢1000 at every transaction," a trader narrated.
Other complaints and concerns raised at the meeting included poor network and Internet connectivity as well as fraud on the Momo platforms.
MTN's Senior Corporate Communications Manager, Mrs. Georgina Asare-Fiagbenu, advised clients to use caution and to hold off on responding to any offers unless they had already completed an application or initiated a procedure. She further denied claims that some MTN agents were involved in the fraud, saying that "we have more customers than all others, so our customers are easily targeted."
Customers were advised to use cautious because con artists only had success when their victims followed their instructions. The forum includes details on mobile money, Ayo insurance, network concerns, and other MTN services in order to better inform customers.
