CBL Sets Standard Cash-Out Fee for Mobile Money Transactions

The Central Bank of Liberia (CBL) has announced a new mobile money standard cash-out fee policy that guarantees a competitive pricing within the mobile money market. Under the new policy, all mobile money providers are required to apply a cash-out fee of 2% for withdrawals made through their platforms. The Policy takes effect as of August 1, 2025. This change is part of Liberia’s effort to modernize the way money moves within the market and reduce dependence on physical cash. By encouraging electronic payments, the CBL aims to make financial services more accessible, safer, and better suited for today’s digital economy. What Does This Mean for the Public? * Whether you are withdrawing money through your mobile wallet or at an agent location, a minimum fee of 2% will apply. * Digital payments (buying goods, paying bills, sending money) remain a convenient and low-cost way to handle daily transactions. Why the Change? CBL is working to: * Standardize cash-out fees across all mobile money operators. * Safeguard agent and consumer protection. * Promote a less cash-reliant economy that reduces the frequency and cost of printing new banknotes. * Make electronic payments easier and more widely accepted, especially by businesses. * Reduce the hassle, risks, and costs linked to handling cash. * Build a stronger financial system that works for everyone. * Enhance financial inclusion and better position the citizenry to save, invest and access credit in rural areas lacking banking services * Improves transaction efficiencies for businesses and government operations. The CBL continues to work to promote the adoption and usage of digital payments. The Bank is implementing key components of the National Electronic Payment Switch (NEPS) that will enable mobile money transaction between Liberia’s two Mobile Money Operators (MMOs). This initiative will enable all Liberians - regardless of their mobile network provider - to seamlessly send and receive money across mobile wallets. Once implemented, customers will be able to transact across networks in real time, enhancing convenience, accessibility, and financial inclusion. The transaction between the two mobile money operators will also support real-time payment from the Government of Liberia (GoL) to employees, contractors, vendors, and pensioners directly into their mobile money wallets - promoting efficiency, transparency, and accountability in public payments. “The transition to a digital-first financial system is central to fostering innovation, resilience, and inclusiveness in Liberia’s payment landscape,” said Executive Governor Henry F. Saamoi. “This directive reflects our commitment to modernizing financial services and unlocking the full potential of mobile and electronic platforms.”