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.
