The telecommunications provider MTN has stated that split cash transactions are prohibited and has urged its customers to report any Mobile Money (MoMo) agents who engage in such illicit behavior. The MTN levies fees for mobile money cash withdrawals at service centers at a predetermined rate fixed at GH 10 cedis on GH 1000 and above.
However, some dishonest agents and retailers use split cash transactions, where every 1000 Ghana cedis is charged GH10, which results in customers paying larger fees.
According to the company's findings, clients who want to withdraw GHC 3,000 are told to split the amount into three distinct transactions, each of which will incur a GHC 10 fee (instead of a GHC 10 fee for the full GHC 3,000 withdrawal).
The act was illegal, according to Mr. Mawuena Agogo, retail experience manager for the Eastern, Volta, and Oti regions. He advised customers to report any such behavior to any MTN office or phone 100 to file a complaint. Both agents and merchants, he claimed, were aware that what they were doing was wrong, but regretfully, they did it 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.
He said that a few agents who had been complained about had been banned and ordered to refund the extra fees to the owners quickly after the complaints were made.
Mr. Agogo was discussing fraud prevention and other unpleasant situations MTN customers have during a meeting with informal sector clients at Akyem Tafo.
The conference was held in response to complaints that transaction costs were excessive and that it was common practice to split cash transactions in order to increase transaction fees.
"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 said.
Bad network and Internet connections, as well as fraud on the Momo platforms, were among the other grievances and concerns voiced at the meeting.
MTN's Senior Corporate Communications Manager, Mrs. Georgina Asare-Fiagbenu, urged customers to exercise caution and refrain from responding to any offers for which they had not yet applied or started a procedure. She added that "we have more customers than all others, so our customers are easily targeted," denying rumors that some MTN agents were involved in the fraud.
Customers were warned to exercise caution because con artists only succeeded when victims complied with their requests and directives. To better inform clients, the forum included information on mobile money, Ayo insurance, network issues, and other MTN services.
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