Pay Attention to Fees by your Bank, Mobile Money, Telecom
The fees you pay for transactions will eventually eat into your returns. Even something as seemingly low as a 1% fee will cost you in the long run. We recommend to stick with low-cost transactions at most of the time. Do you check out your mobile money fees, you banking fees, have you scrutinized your bank statement for these hidden costs?
You financial services providers has an obligation to publish fees for all its transactions. Check on their website, mobile app, email communication and ask them if not sure. Your mobile money transactions should always indicate the fee for executing the transaction. Proper consumer protection necessitates that customers are aware of their transaction fees at all times.
FINANCIAL LITERACY: consumer protection – Use digital tools to keep track of you bank, mobile money, telecom, #MoKash #Wewole Fees. #DiFiExpo @BOU_Official @MoICT_Ug