Liberia: CBL Sets Standard 2 Percent Cash-Out Fee for Mobile Money Transactions, Effective August 2025

5 August 2025
FrontPageAfrica (Monrovia)

Monrovia — The Central Bank of Liberia (CBL) has announced a standardized 2% cash-out fee for all mobile money withdrawals, effective August 1, 2025. The policy applies to all licensed Mobile Money Operators (MMOs) and is aimed at fostering a more inclusive, secure, and efficient digital financial system.

According to the CBL, the move is part of broader efforts to modernize Liberia's payment ecosystem and reduce overreliance on physical cash.

"The transition to a digital-first financial system is central to fostering innovation, resilience, and inclusiveness in Liberia's payment landscape," said CBL Executive Governor Henry F. Saamoi. "This directive reflects our commitment to modernizing financial services and unlocking the full potential of mobile and electronic platforms."

What the Public Needs to Know

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According to the Bank, all mobile money cash-outs will now incur a flat 2% fee--whether withdrawn via agent or mobile wallet, digital payments such as bill payments, money transfers, and merchant purchases remain low-cost and convenient alternatives to cash and the fee aims to unify pricing across all mobile networks, ensuring fairness and predictability for consumers and agents alike.

Why the Policy Matters

The CBL says the standardization will promote consumer and agent protection, lower the frequency and cost of printing cash, improve digital transaction infrastructure across Liberia, encourage businesses to adopt electronic payments, expand financial access, particularly in rural areas, support government-to-person (G2P) payments for public employees, vendors, and pensioners via mobile wallets.

Toward Seamless Interoperability

The Bank also announced ongoing implementation of the National Electronic Payment Switch (NEPS), which will soon allow real-time mobile money transfers between Liberia's two major mobile operators. Once live, this system will enable users to send and receive money across networks, enhance convenience for everyday users and businesses and strengthen the delivery of government services and payments.

The CBL says the interoperability feature is a critical step toward building a resilient and inclusive digital financial infrastructure that connects all Liberians--regardless of location or mobile provider.

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