A mobile money vendor attending to a customer
Various telecommunication networks have begun the charges-free transfer of monies of GH¢100 and below from today, March 20, 2020 as directed by the Bank of Ghana (BoG).
This gesture, though subjected to review will last for the next three months in a bid to protect its customers from contracting the virus which is fast spreading.
In a statement issued by the central bank, it stated that “the Bank of Ghana has agreed with banks and mobile network operators on measures to facilitate more efficient payments and promote digital forms of payments for the next three months, subject to review, effective March 20, 2020.”
Meanwhile, the daily transaction limits for users have been increased, and all mobile phone subscribers are now permitted to use their already existing mobile phone registration details to be onboard for Minimum KYC Account.
The new policy applies to only money transfers to recipients on either the same network or sent to another network using the interoperability platform.
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