Free Vodafone transactions continue; customers charged 1.5% e-levy fee instead.
On May 1, 2022, a 1.5% electronic transfer levy was implemented in Ghana. Most mobile money transfer services have increased their fees to 2.25% for transactions above GH¢100 per day. However, Vodafone Cash customers are exempt from the additional charge, paying merely the 1.5% levy. Moreover, Vodafone Cash waives all transfer fees for customers who transact within their network.
Since the implementation of the e-levy, social media has been flooded with praise from Ghanaians over Vodafone Cash's continued free transactions initiative. In July 2020, the company had already granted this perk to lessen the financial strain of the COVID-19 pandemic.
Patricia Obo-Nai, CEO of Vodafone Ghana, shared an insight on the initiative, stating, "We want our customers to confidently send money without worrying about transfer charges." The service, according to Obo-Nai, provides essential support for customers needing access to healthcare, education, or urgent family remittances.
Vodafone Cash has earned recognition for its innovative financial products. In 2021, the service received the Chartered Institute of Marketing's 'Product of the Year' award and the 'Most Innovative Product of the Year' accolade at the Ghana Information Technology and Telecommunications Awards (GITTA).
Prior to this initiative, Vodafone Ghana had become the first network operator to offer free charges on interoperability transactions (transactions to other networks) below GH¢100, even after the Bank of Ghana removed the directive for operators to waive those charges. Customers can send money to other networks by dialing *110#, selecting option 1 'Send Money', option 2 'Other Networks', and following the steps.
New subscribers can register by dialing *558#, while non-Vodafone customers can purchase SIM cards from any Vodafone Agent or Retail Shop and activate their cash wallet with a Ghana Card.
Vodafone Cash offers advantages such as extensive network coverage, integration with other services, user-friendly design, and frequent promotions and discounts. Despite the e-levy, Vodafone Cash's competitive fees and promotions can help minimize the impact on users, making it an attractive financial solution in Ghana.
- Vodafone Cash's continued initiative of free transactions has been commended on social media, particularly since the implementation of the e-levy on May 1, 2022.
- The service, which provides essential support for healthcare, education, and family remittances, has earned recognition for its innovative financial products.
- In 2021, Vodafone Cash received the Chartered Institute of Marketing's 'Product of the Year' award and the 'Most Innovative Product of the Year' accolade at the Ghana Information Technology and Telecommunications Awards (GITTA).
- Despite the e-levy, Vodafone Cash's competitive fees and promotions, coupled with its extensive network coverage, user-friendly design, and frequent promotions and discounts, make it an attractive financial solution in Ghana's market.
