BoG increases mobile money transaction limit

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

The Bank in a statement issued on December 22, 2022, noted the review is part of measures to facilitate more efficient payments, encourage the seamless transition to a cash-lite society as well as promote the use of non-cash models of payments.

According to the release, “the aggregate monthly transaction limits will however remain unchanged.”

Find below the new review:

Daily transaction

Minimum KYC Account which initially had a limit of ¢1,000 has been upgraded to ¢2,000.
Medium KYC Account with a current limit of ¢5,000 has been increased to ¢10,000.
Enhanced KYC Account with a ¢10,000 threshold has been reviewed to ¢15,000.

Maximum account balance limit and monthly transaction limits are attached below:

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Mobile Money