Mobile Money has improved the efficiency of money transactions
The Bank of Ghana has revised the limits on mobile money transactions in the country.
A statement issued by the central bank on Thursday, December 23, 2022, explained that the review forms part of measures to “facilitate more efficient payments, encourage the seamless transition to a cash-lite society as well as promote the use of non-cash models of payments.”
According to the BoG, “the aggregate monthly transaction limits will, however, remain unchanged.”
The initial minimum for Know Your Customer (KYC) Account has been reviewed to GH¢2,000 from GH¢1,000 while Medium KYC has been increased to GH¢10,000 from GH¢5,000.
Also, the Enhanced KYC Account has been reviewed to GH¢15,000 from GH¢10,000.
- Robbery attacks on us have reduced under Dampare – MoMo Vendors Association
- Ghanaian start-up founder allegedly diverted $8 million prior to company's shut down – Report
- Report Mobile Money agents over illegal split transaction - MTN
- Report Mobile Money agents over illegal split transaction - MTN
- MoMo agents threaten strike over non-payment of commission
- Read all related articles
