Published: August 4, 2025
MONROVIA – The Central Bank of Liberia has mandated a flat 2 percent fee on all mobile money cash-outs. This new regulation took effect on August 1, 2025, and affects every mobile money user nationwide.
The policy requires all mobile money operators to set a standard cash-out fee, eliminating inconsistent rates among providers and representing a major step toward a fully digital financial system, as explained by the Bank. This change is likely to affect millions of Liberians who rely on mobile wallets for their everyday transactions.
“This directive reflects our commitment to modernizing financial services and unlocking the full potential of mobile and electronic platforms,” said Executive Governor Henry F. Saamoi. “The transition to a digital-first financial system is central to fostering innovation, resilience, and inclusiveness in Liberia’s payment landscape.”
The new rule applies to all withdrawals from mobile money platforms, whether from a user’s wallet or through an agent. For example, withdrawing L$1,000 now costs L$20. However, digital transactions such as bill payments, money transfers, and purchases remain low-cost or free, which the Bank states should encourage greater adoption of electronic payments.
CBL stated that the policy aims to standardize fees across the mobile money industry, protect both agents and consumers, and cut costs associated with printing and distributing physical banknotes. The bank also seeks to boost financial inclusion, especially in rural areas where traditional banking services are limited or absent, and to enhance transaction speed and transparency for both private and government payments.
At the core of the Bank’s digital transformation is the National Electronic Payment Switch (NEPS), a system currently being implemented to enable real-time transactions between Liberia’s two main mobile money providers. Once live, NEPS will allow customers to send and receive money across different networks regardless of their mobile carrier—an interoperability milestone that CBL says will improve convenience and accessibility.
The system is also built to support government payments, allowing salaries, pensions, and contractor fees to be transferred directly into mobile money accounts. Officials believe this will improve transparency and help prevent leakages in public disbursements.
Despite public doubt over increasing service fees, the CBL maintains that the flat-rate cash-out charge is a necessary step toward a safer, more efficient, and inclusive financial system. It states that Liberia can no longer sustain a cash-heavy economy that is prone to inefficiency, fraud, and logistical delays.
The Bank committed to working with mobile money companies, civil society, and local communities to raise awareness and facilitate a smooth transition. With more digital reforms ahead, the CBL states this is just the start of a broader effort to secure Liberia’s financial system for the future.
Discussion about this post