The Bank of Ghana (BoG) has revised the balance and transaction limits of customers' mobile money wallets upward, effective March 1, 2024.

A statement from the Ghana Chamber of Telecommunications pointed out that the development is in line with increasing trends of transactional activities and evolving customer needs.

On daily transaction limits, customers with a minimum account which initially had a limit of GH¢2,000 has been upgraded to GH¢3,000, while medium account with a current limit of GH¢10,000 has been increased to GH¢15,000.

In the same line, an enhanced account with a GH¢15,000 threshold has been reviewed to GH¢25,000 daily.

On maximum accounts, a minimum account which initially had a limit of GH¢3,000 has been reviewed to GH¢5,000, while medium accounts with a current limit of GH¢25,000 has been increased to GH¢40,000.

The enhanced accounts with a GH¢50,000 threshold has been reviewed upwards to GH¢75,000.

On the breakdown of the review of monthly transactions limits, minimum account which initially had a limit of GH¢6,000 has been reviewed to GH¢10,000.

The medium account which had no limits on the value of monthly transactions, remains unchanged, as well as the enhanced account which had no limits on the value of monthly transactions, remains unchanged.

"Kindly reach out to the personnel of our members at any of their customer service centers across
the country, for any clarification you may need", the statement concluded.

Source: Joy Business