Maître Amadou Sow: PI-SPI Transfer Fees Daily Cumulative Based on 8000 FCFA Threshold

• PI-SPI transfer fees are calculated based on the daily cumulative amount sent by a user, not per individual operation.
• National transfers totaling up to 8,000 FCFA per user per day are free, while receiving funds is always free.
• Amounts exceeding the 8,000 FCFA daily threshold can be charged up to 0.8% of the transfer value, exclusive of taxes.
• BCEAO Avis n°0019 mandates the use of the PI-SPI platform for all interoperable electronic money transactions in UEMOA, effective November 2, 2026.
• The PI-SPI platform, launched September 30, 2025, has expanded to 80 financial institutions by June 24, 2026, serving millions of users.

The calculation of PI-SPI transfer fees operates on a daily cumulative basis rather than being applied to each individual transaction.

The calculation of PI-SPI transfer fees operates on a daily cumulative basis rather than being applied to each individual transaction. This crucial clarification, highlighted by legal expert Maître Amadou Sow in an analysis, dictates how charges are levied for electronic money transfers within the West African Economic and Monetary Union (UEMOA). Specifically, for national transfers, any amount sent by a single user that cumulatively totals 8,000 FCFA or less over the course of a day remains entirely free of charge. For instance, if a user conducts three separate operations of 2,000 FCFA, 3,000 FCFA, and 2,500 FCFA within the same day, their combined total of 7,500 FCFA falls below the 8,000 FCFA threshold, meaning all three transfers are processed without any sending fees. It is also important to note that the recipient of funds never incurs any charges.

Once the daily cumulative amount transferred by a user surpasses the 8,000 FCFA free threshold, financial institutions are permitted to impose a fee. However, this charge is strictly capped at 0.8% of the transferred amount, exclusive of taxes. This structured approach to PI-SPI transfer fees daily cumulative aims to balance accessibility with operational costs, ensuring that smaller, frequent transactions remain affordable or free for UEMOA citizens.

This regulatory framework is detailed in BCEAO Avis n°0019, which specifically addresses electronic money transactions conducted between individuals across the UEMOA region. The introduction of the PI-SPI platform on September 30, 2025, marked a significant step towards modernizing digital payments in an area previously characterized by fragmented networks and often prohibitive UEMOA electronic money transfer fees. The platform was designed to facilitate instant transfers among diverse financial entities, including traditional banks, electronic money institutions, and other payment service providers.

The adoption of the PI-SPI system has seen rapid expansion. By the close of 2025, the network already encompassed 74 participating financial institutions. This growth continued steadily, reaching 80 establishments by June 24, 2026, thereby extending access to the service to millions of users throughout the UEMOA member states. This widespread integration underscores the commitment to fostering a more unified and efficient digital payment ecosystem.

A pivotal aspect of BCEAO Avis n°0019 is the mandate for all interoperable electronic money transactions within the Union to exclusively utilize the PI-SPI platform. This obligation, announced by the BCEAO, became effective on November 2, 2026. This directive ensures a standardized and interconnected system, further breaking down the barriers that previously hindered seamless digital financial interactions.

The comprehensive regulatory approach, which includes the 8,000 FCFA daily free transfer threshold and the 0.8% fee cap, is designed to enhance financial inclusion and streamline digital commerce. For financial institutions and businesses operating in the UEMOA region, understanding and adhering to these specific rules regarding PI-SPI transfer fees daily cumulative and the mandatory platform usage is critical for compliance and for effectively serving their customer base. The move towards mandatory interoperable electronic money transactions UEMOA via PI-SPI represents a significant shift in the regional financial landscape.

Lawyers and compliance officers advising financial institutions or businesses operating in the UEMOA region must ensure their electronic money transfer systems and fee structures comply with the BCEAO's clarification that PI-SPI transfer fees are calculated on a daily cumulative basis, not per operation, and adhere to the 8,000 FCFA daily free transfer threshold. Furthermore, they should note the mandatory use of the PI-SPI platform for interoperable transactions as of November 2, 2026, to avoid regulatory non-compliance.

Source: Original reporting via Le Soleil