Liberia's Central Bank Imposes Static 2% Fee on Mobile Money Withdrawals to Enhance Transparency
Central Bank of Liberia Introduces Flat 2% Mobile Money Cash-Out Fee
The Central Bank of Liberia (CBL) has made a significant move towards modernizing the country's financial system by implementing a new policy as of August 1, 2025. This policy standardizes mobile money cash-out fees at a flat rate of 2%, marking a step forward in Liberia’s financial modernization and digital inclusion objectives.
The standardization aims to unify pricing structures, reduce consumer confusion, and prevent agent overcharging, especially in remote areas. It is also intended to promote financial inclusion by making mobile money more accessible and reliable, particularly where traditional banking is limited or absent.
The move supports CBL’s goal to foster innovation, transparency, and resilience in Liberia’s payment landscape. By encouraging a shift towards a digital-first payment system, the policy aims to reduce dependence on cash and lower the costs related to physical banknotes printing and distribution.
In addition to the cash-out fee standardization, the CBL is implementing the National Electronic Payment Switch (NEPS) to enable seamless, real-time transactions between Liberia’s mobile money operators. This will allow all Liberians to send and receive money across different mobile networks, regardless of their provider, and support efficient and transparent public payments, allowing the Government of Liberia to pay employees, contractors, and pensioners directly into their mobile money wallets.
The CBL's commitment to modernizing financial services includes the implementation of the NEPS to unlock the full potential of digital platforms. The new policy is a key part of the CBL's strategy to modernize Liberia’s financial system and reduce dependence on physical cash.
It is important to note that while a fee applies to cash withdrawals made through mobile wallets or agents, digital payments remain exempt from this fee. The CBL is working to protect consumers and agents in the mobile money market, ensuring competitive and transparent pricing within the market.
The CBL's strategy includes enhancing financial inclusion, particularly for people in rural areas who lack access to traditional banking services. The new policy may impact the pricing and usage of mobile money services in Liberia, potentially making them more affordable and accessible for a broader population.
In summary, the 2% cash-out fee standardization is a significant regulatory step that contributes directly to Liberia’s financial modernization and digital inclusion objectives. It harmonizes mobile money costs, encourages electronic transactions, and improves system efficiency across the country, all while reducing the risks and costs associated with handling cash. This move is part of a broader effort to build a stronger, more inclusive financial system in Liberia.
[1] Central Bank of Liberia. (2025). Mobile Money Cash-Out Fee Standardization. Retrieved from https://www.cbl-liberia.org/mobile-money-cash-out-fee-standardization/ [2] Central Bank of Liberia. (2025). National Electronic Payment Switch (NEPS) Implementation. Retrieved from https://www.cbl-liberia.org/neps-implementation/ [3] Central Bank of Liberia. (2025). Financial Inclusion Strategy. Retrieved from https://www.cbl-liberia.org/financial-inclusion-strategy/ [4] Central Bank of Liberia. (2025). Protecting Consumers and Agents in the Mobile Money Market. Retrieved from https://www.cbl-liberia.org/protecting-consumers-and-agents-in-the-mobile-money-market/ [5] Central Bank of Liberia. (2025). Reducing Dependence on Physical Cash. Retrieved from https://www.cbl-liberia.org/reducing-dependence-on-physical-cash/
- The Central Bank of Liberia's mobile money cash-out fee standardization is a significant step in Liberia's financial modernization strategy, aligning with the bank's goals of fostering technology, innovation, and business within the financial sector.
- The implementation of the National Electronic Payment Switch (NEPS) by the Central Bank of Liberia is a key component of Liberia's banking strategy, aiming to improve finance and mobility within the digital landscape of Liberia's banking and mobile money systems.
- The Central Bank of Liberia's commitment to reducing dependence on physical cash includes the protection of consumers and agents in the mobile money market, ensuring fair and transparent pricing that aligns with technology-driven objectives.
