Bank of Ghana warns against repairing torn cedi notes for recirculation

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NDC NPP SAME DEVILy 5 days ago

Prrrrrtt! When even u go to bank and the bankers give you very dirty, torn and mutilated money. All these torn moneys are from the banks . Grow up.

Prrrrrtt! When even u go to bank and the bankers give you very dirty, torn and mutilated money. All these torn moneys are from the banks . Grow up.
Andy 5 days ago

With this directive, u are coming against one of the qualities of money, which is “money should be acceptable”.
Monies for daily transactions could be rejected , and considering the long queues at the commercial banks, t ...
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With this directive, u are coming against one of the qualities of money, which is “money should be acceptable”.
Monies for daily transactions could be rejected , and considering the long queues at the commercial banks, there is going to be undue difficulty in the system.
Find better ways to take such monies from the system yourselves instead of making it a responsibility of citizens. Tge best u can do, is to educate citizens on the best practices to handle money without mutilating it and also coming out with severe sanctions on anyone caught damaging the currency notes.
Techieman 5 days ago

Sometimes the money was damaged by accident or it was given to you without noticing it, then you are stuck with it. A damaged money shouldn't be circulating, period ! Go and join the long line at Commercial bank or throw it ...
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Sometimes the money was damaged by accident or it was given to you without noticing it, then you are stuck with it. A damaged money shouldn't be circulating, period ! Go and join the long line at Commercial bank or throw it away. Which one do you want ?
Stan 5 days ago

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Naomi 5 days ago

Masa as for this one I beg, it won't happen, what do you want us to do trow the money away, lie lie cellotape is still in use Masa stop that kraaa

Masa as for this one I beg, it won't happen, what do you want us to do trow the money away, lie lie cellotape is still in use Masa stop that kraaa
Kamaller 4 days ago

I was one time paid with this damaged notes before I realized. I used it to buy petrol and travelled. On my visit to the fuel station the next day the fuel attendant drew closer to me and told me to take the money back since ...
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I was one time paid with this damaged notes before I realized. I used it to buy petrol and travelled. On my visit to the fuel station the next day the fuel attendant drew closer to me and told me to take the money back since it was damaged. I took it to the commercial bank and they also rejected it and asked me to take it to Bank of Ghana. I couldn't travel from Prampram to BOG just because of thorn 50gh note so I simply threw it away. That's all.
Techieman 4 days ago

That's the order and rule in Ghana, please follow the rule. Be aware that if you give me a damaged money, I can tell you to take it back, that's the order, abd If you refuse, I will call the police to deal with you.

That's the order and rule in Ghana, please follow the rule. Be aware that if you give me a damaged money, I can tell you to take it back, that's the order, abd If you refuse, I will call the police to deal with you.
SURVIVAL. 4 days ago

The material Ghana is using to make our cedi notes is not the quality type.I'm in Europe but you'll hardly see torn euro note or see a note been cellutape.The central bank should make sure it uses good material in making the ...
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The material Ghana is using to make our cedi notes is not the quality type.I'm in Europe but you'll hardly see torn euro note or see a note been cellutape.The central bank should make sure it uses good material in making the cedi notes before coming out to warn the public.
Techieman 3 days ago

That is what Ghana can afford to spent on the cedis notes. Ghana us not Europe. Ghanaians should be mindful and take good care of the money . The problem is that the traders are nasty and messy handlers or maybe Ghanaians in ...
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That is what Ghana can afford to spent on the cedis notes. Ghana us not Europe. Ghanaians should be mindful and take good care of the money . The problem is that the traders are nasty and messy handlers or maybe Ghanaians in general are really nasty as hell. Which is which ?
Oneman 4 days ago

Must we send the torn notes to the bank for exchange?
Will any bank accept and change it for us?
We must know all these.

Must we send the torn notes to the bank for exchange?
Will any bank accept and change it for us?
We must know all these.

Ntim Fordjour 2 4 days ago

Bank of Ghana must first educate the general public on how to keep the currency in safe places. We see taxi drivers keeping their money under the carpet of their cars and stepping on them every time. Our market women also put ...
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Bank of Ghana must first educate the general public on how to keep the currency in safe places. We see taxi drivers keeping their money under the carpet of their cars and stepping on them every time. Our market women also put the money in any tins when they are selling. Some of them get soil with oil. Tying at the tip of their clothes. How many of us keep the notes/coins in our purses? May be only when we attend functions. At the end the notes become weak and torn.
BOG HAVE PITY ON GHANAIANS. THE SYSTEM IN PLACE TO RETRIEVE TORN NOTES THROUGH COMMERCIAL BANKS DOES NOT WORK 4 days ago

Our bureaucrats, including our president appear to think that leadership is all about issuing instructions. Instructions must ensure that the system in place for carrying them out work. The commercial banks refuse to exchange ...
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Our bureaucrats, including our president appear to think that leadership is all about issuing instructions. Instructions must ensure that the system in place for carrying them out work. The commercial banks refuse to exchange torn notes, so what do you expect? As an interim measure I advise the BOG to license these money repair shops to exchange good money for torn notes and to deliver the torn notes directly to BOG for replacement. I would have recommended that commission due the money repair shops be paid by BOG as the original issuer, but that would be counter productive because then money repairers may resort to destroying good money just to exchange them for the added commission. So let the public bear the cost of commission due for the exchange of good money for torn notes by the money repairer. The amount of commission must be regulated by BOG through assigning an upper limit only to allow competition to play out.

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Bank of Ghana warns against repairing torn cedi notes for recirculation

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