File photo: mobile money (MoMo)

The Mobile Money Agents Association of Ghana said they are stressed as a lot of people are cashing out from their mobile money wallet.

According to a member of the Association, Jormor Armah, people have resorted to cash out ever since the implementation of the Electronic Levy because of lack of education.

“So far the cash out has been more and so we are stressed. People are withdrawing money since the E-levy started because they are being deducted for not transferring money” he said.

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“They keep telling us that they fear their monies will vanish but we are trying hard to educate them more and I think it would normalise,” he said in an interview on Adom FM’s morning show Dwaso Nsem Tuesday.

The first day of implementation of the E-levy did not start smoothly as expected.

This is because some mobile money users who tried using the platform on Sunday realised that they were being charged the E-levy on transfers even below the stipulated baseline of 100 cedis.

The Ghana Revenue Authority has meanwhile, pledged to refund all wrong deductions while it works to resolve all the challenges encountered in the implementation phase of the E-levy.