The limitations placed on mobile money transactions and wallets have been raised by the Bank of Ghana (BoG).
In a statement released on December 22, 2022, the Bank explained that the review is part of measures that are being taken to facilitate more efficient payments, encourage the seamless transition to a cash-lite society, and promote the use of payment models that do not involve cash.
In spite of this, the press release states that “the total monthly transaction limitations will remain unchanged.”
Check out the latest review below:
- The previous 1,000 minimum for a Know Your Customer (KYC) account has been raised to 2,000.
- The previous 5,000 yen cap for medium KYC accounts has been raised to 10,000 yen.
- The previous minimum deposit of 10,000 was raised to 15,000.
- Please see the accompanying maximum account balance and monthly transaction limitations lists: