BoG increases mobile money transaction limit

MTN, Vodafone and AirtelTigo mobile money

The mobile money transaction and wallet limits has been increased by the Bank of Ghana (BoG).

The Bank announced the evaluation in a press release dated December 22, 2022, saying it was done as part of efforts to promote the use of non-cash payment models, support more efficient payment methods, and promote a cashless society. You may check How To Reverse MTN Mobile Money Transactions.

It was added that the aggregate monthly transaction limits will remain unchanged. Kindly find other details below:

Daily Transaction Limits for mobile money accounts

Dally Transaction Limits

KYC Account Type

Current Limit

New Limit

Minimum KYC Account

GH¢1.000.00

GHC2,000.00

Medium KYC Account

GH¢5.000.00

GHC10.000.00

Enhanced KYC Account

GHC10,000.00

GHC15.000.00

 

Maximum Account Balance Limits

KYC Account Type

Current Limit

New Limit

Minimum KYC Account

GHC2.000.00

GHC3.000.00

Medium KYC Account

GHC15.000.00

GH¢25.000.00

Enhanced KYC Account

GHC30.000.00

GH¢50,000.00

 

Monthly Transaction Limits

KYC Account Type

Current Limit

Minimum KYC Account

GH$6,000.00

Medium KYC Account

No Limit

Enhanced KYC Account

No Limit

 

“This directive replaces the limits set on mobile money accounts as communicated in the 97th Monetary Policy Committee Press Release dated March 18, 2020. Kindly take note for your strict compliance.” as stated and signed by KWAME A. OPPONG, the head of Fintech and Innovation Office.

The public is hereby informed to take note of this important information.

Take Note

UNDER NO CIRCUMSTANCE SHOULD AN APPLICANT PAY MONEY TO ANYONE IN GETTING A JOB WE HAVE PUBLISHED 

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