Get ready for more flexibility in your mobile money transactions as the Bank of Ghana (BoG) announces a significant upgrade to balance and transaction limits for customers’ mobile money wallets, effective March 1, 2024.
This move is a response to the changing landscape of digital finance and the increasing demand for mobile money services among users. The adjustments aim to provide greater convenience and accommodate the evolving needs of customers in today’s digital financial world.
According to a statement from the Ghana Chamber of Telecommunications, the new limits will apply to both daily and monthly transaction thresholds across different account tiers.
For daily transactions, customers with minimum accounts will see their limits increase from GH¢2,000 to GH¢3,000, offering more room for their everyday financial activities. Medium and enhanced account holders will also benefit from higher daily transaction limits, providing increased flexibility in managing their finances.
And that’s not all! Maximum account limits have also been raised, allowing users to conduct larger transactions with ease. Minimum, medium, and enhanced account holders will all enjoy higher maximum limits, empowering them to engage in more substantial financial transactions.
These adjustments aim to meet the growing needs of mobile money users in Ghana, providing them with the tools they need to manage their finances effectively and securely. To ensure transparency and assistance for users navigating the new limits, customer service centers nationwide are ready to provide clarification and support.
The BoG’s decision to revise mobile money wallet limits underscores its commitment to promoting financial inclusion and expanding access to digital financial services for all Ghanaians. These changes are expected to drive further growth in the mobile money ecosystem, empowering users and fostering greater financial participation across the country.
