In this article, we will look at some simple ways to avoid paying e-levy charges on transactions. if you don’t know yet, the Parliament of Ghana, an institution charged with legislative duties has passed the electronic transactions levy 2021 bill which seeks to put some charges on electronic transfers of money in Ghana.
According to the laws of Ghana, the bill when passed by parliament must be assented to by the executive, precisely the president at the time and that is exactly what President Akufo-Addo did days after the passage of the bill.
Accordingly, the Ghana Publishing Company Ltd has also gazetted and printed the bill which makes it fully announced to Ghanaians and ready for full implementation as soon as applicable.
Read Also: Parliament of Ghana Approves Government’s E-Levy Bill; Awaiting Presidential Assent
But one thing we realized from the search patterns available indicates that a lot of people are searching for ways to avoid paying the e-levy and that is what we seek to bring before you.
Steps To Avoid E-levy Charges On Transfers
Before we look at the steps to follow in order to avoid e-levy charges, remember that the Electronic Transfer Levy Act does not impose a levy for transfers between accounts owned by the same person so do this;
- If you need to send money above the GHC100.00/24hrs threshold, start early enough by sending only GHC100 daily till it reaches the amount you want. Aside from this, follow the next steps;
- Buy another sim. The new number can be the same network you’re already using or another.
- Register a MoMo account on that number in your name as already exists on the account you already have.
- Give that new sim to your loved ones whom you will regularly transfer money to
- With this anytime you want to send money to your loved ones or transact business with these people, send it through that number.
Read: E-levy Bill Now Law As Prez. Akufo-Addo Assents And Appends His Signature
With the coming into force of the e-levy, there will be double charges. For instance, if you want to send GHC1000.00, your telco will charge you the already existing 1% charge which will amount to GHC10.00
The government of Ghana will also impose a 1.5% e-levy charge on the same money which will amount to GHC15.00 making a total of GHC25.00 for the GHC1000.00 transfer.
How to avoid double charges on MoMo transfers
To avoid double charges on MoMo, do the following;
- Let the receiver go to a MoMo agent and mention your number instead of his/hers
- Allow cash-out on your number and give out your ID number to the receiver.
- Once the mobile money agent concludes the cash-out process, the message pops up on your phone for approval, do just that.
- The person then receives his/her cash without you sending the money to his/her account.
With this, you only pay GHC10.00 for the GHC1000.00 withdrawal instead of GHC25.00 for sending and GHC10.00 for withdrawing.