In a significant development impacting the financial landscape, two prominent money transfer services, LemFi and Wise, have announced the suspension of their services to Ghana. The decisions come in response to regulatory actions and concerns raised by the Bank of Ghana (BoG).
LemFi, in a regretful circular to its users, declared the suspension of all services to Ghana, affecting the ability to send money to banks and mobile money services in the country. The company acknowledged the inconvenience this decision might cause and extended sincere apologies to its customers, expressing gratitude for their business and support. LemFi assured its users that they would be promptly informed of any changes in the future.
Coinciding with LemFi’s announcement, Wise also revealed the suspension of money transfers to Ghana, citing a warning from the Bank of Ghana. This move follows the suspension of Zeepay, another remittance service, for alleged violations of remittance regulations. The financial landscape is witnessing a series of changes as companies respond to regulatory pressures.
Amidst these disruptions, users seeking reliable money transfer alternatives are encouraged to explore options through cedirates.com/exchangerates, a platform that promises up-to-date and trustworthy information on various Money Transfer Operators.
As the financial sector adjusts to these developments, customers and industry observers are keenly watching for further updates and potential resolutions to the regulatory concerns prompting these suspensions.
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