Rwandan central bank scraps e-wallet transfer fees
Customers can now move money between mobile and bank accounts without charge
The National Bank of Rwanda has abolished fees for transferring money between a customer’s bank accounts and their electronic wallets.
Newspaper the New Times quoted an NBR directive stating “charges and fees on transfer of funds between e-money and deposit accounts belonging to the same person are prohibited”.
The new central bank regulations also bar telecom companies from charging interest on trust accounts, which hold funds being transferred from banks to e-wallets. Banks had cited these
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