The Central Bank of Liberia (CBL) has announced a new policy mandating a 2% cash-out fee on all mobile money withdrawals, a move it says will ensure competitive pricing and promote greater use of digital financial services across the country.
The new policy, which affects all mobile money operators in Liberia, came into effect on August 1, 2025.
According to the CBL, the initiative is part of broader efforts to modernize financial transactions, reduce reliance on physical cash, and improve access to safer and more efficient financial services in Liberia’s growing digital economy.
The Bank believes that by standardizing fees and encouraging digital payments, it can help create a more inclusive financial system that benefits both consumers and businesses.
Under the new regulation, a 2% fee will be charged on all cash withdrawals, whether through mobile wallets or agent locations.
However, the CBL emphasized that digital transactions such as payments for goods and services, bill payments, and person-to-person transfers remain a low-cost and convenient alternative.
The policy is designed to bring uniformity to the mobile money sector, ensure consumer protection, and support a transition to a less cash-dependent economy. The CBL aims to reduce the high cost and logistical burden of printing and distributing physical currency, while making it easier for Liberians, particularly in remote areas, to access financial services.
Beyond standardizing fees, the policy seeks to increase the adoption of electronic payments, improve transaction efficiency for both the private sector and government, and strengthen the financial ecosystem.
The Bank views digital finance as a powerful tool for enhancing financial inclusion, enabling rural populations to save, invest, and access credit where traditional banking services are limited.
As part of its digital finance reform, the CBL is advancing the National Electronic Payment Switch (NEPS), which will facilitate seamless interoperability between Liberia’s two mobile money operators.
This will allow users to send and receive money across different networks in real time, increasing convenience and encouraging broader usage of mobile financial services.
The system will also enable the Government of Liberia to make real-time payments directly into the mobile money accounts of employees, vendors, contractors, and pensioners. The CBL believes this will improve transparency, accountability, and overall efficiency in public financial transactions.
The Executive Governor Henry F. Saamoi emphasized the significance of the move, stating that transitioning to a digital-first financial system is essential for fostering innovation and inclusiveness within Liberia’s payment landscape. “This directive reflects our commitment to modernizing financial services and unlocking the full potential of mobile and electronic platforms,” he said.
