Transaction limits for mobile money wallets reviewed

The Bank of Ghana (BoG) has increased the balance and transaction limits for customers' mobile money wallets, starting tomorrow, March 1, 2024. 

With daily transaction limits, the minimum account limit has been raised from GH¢2,000 to GH¢3,000, while the medium account limit has been elevated from GH¢10,000 to GH¢15,000. 

Similarly, the enhanced account, previously capped at GH¢15,000, now has a daily limit of GH¢25,000.

For maximum accounts, the minimum account limit has been increased from GH¢3,000 to GH¢5,000; the medium account limit up from GH¢25,000 to GH¢40,000, while the enhanced account limit has been raised from GH¢50,000 to GH¢75,000.

Regarding monthly transaction limits, the minimum account limit has been revised from GH¢6,000 to GH¢10,000. 

Changing customer requirements

According to a release issued by the Ghana Chamber of Telecommunications, this adjustment aligned with the growing volume of transactional activities and changing customer requirements.

It noted, however, that there were no changes for the medium and enhanced accounts, which remained unrestricted in terms of monthly transaction values.

The release urged the public to reach out to the personnel of telcos at any of their customer service centres across the country for any clarification needed.