HOW TO BYPASS THE GOVERNMENT 1.50% CHARGES ON MOMO AND ALL ELECTRONICS TRANSFER
How to protect your money from #MoMoTax and MoMo charges.
1. If you send GHC 600 to your mother’s MoMo number, you will be charged 1% ie GHC 6 by MTN then charged 1.5% ie GHC 7.50 by government. Then when she withdraws, she will be charged GHC 6. So on one transaction of 600, total deductions will be GHC13.50.
2. Do this instead. Let her go to a MoMo vendor and mention your number to the vendor. Allow Cash Out wherever you are and give your ID number. The vendor initiates withdrawal and it comes to you for approval wherever you are. You approve. Your mother receives cash. This way you avoid MTN charges on transfer and you avoid the #MoMoTax
3. You only pay GHC 6 on GH 600 instead of 13.50 cedis.
4. We owe a duty to ourselves to make sure these charges don’t finish us. It is part of the resistance.