
Audio By Carbonatix
Some traders in the Offinso Municipality in the Ashanti Region are angry with the Ghana Commercial Bank (GCB) for refusing to accept coins as deposits.They complain the bank has adopted a posture of deciding when to take coins, informing them that it is not a legal tender.Kwasi Sedor with K-Acheampong Enterprise told Luv Fm he had been in a long queue to be served, but two bank tellers turned him away because the sum of money he was depositing included coins.He was paying in Gh¢5,550, which included coins totaling Gh¢550.
The bank however refused to accept the coins, which were in 50pesewas and Gh¢1.00 denominations.According to Kwasi, complaints to bank officials yielded no results.“The accountant told us point blank that the coins is not a legal tender, so they’ll take it if they want, they can refuse it if they want but that day they were not taking our coins, and they didn’t take it”, he said.Kwasi is worried at the persistent practice, saying the traders are not enthused because they regularly receive coins from the bank when they are withdrawing cash.He claims to have lost business as a result of the act because “the person we were paying the money to has actually ceased to supply us stock because we have breached [the] contract with him”.Bank officials have admitted turning away some clients depositing coins, explaining there are limitations to accepting coins as legal tender.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
From Golgotha to Kwahu: The Easter Migration of the Faithful and the Faithless
18 minutes -
How the Ghanaian onion traders’ standoff with Nigeria unfolded and threatened local supply
21 minutes -
No compensation for demolished structures on 24-Hour Economy market lands — Gov’t to structure owners
29 minutes -
Financial Institutions must back local enterprises to spur growth – Deputy Minority Whip
51 minutes -
Photos: Gomoa Easter Carnival 2026 ends in a burst of colour and celebration
1 hour -
Gomoa Easter carnival ends in colour as fashion, music and celebrity appearances light up final night
1 hour -
Families pick Luv Fm Family Party to celebrate Easter Monday with music and more
2 hours -
Legal and procurement red flags in Ghana Gas insurance change — IMANI
2 hours -
Kaneshie footbridge rehabilitation to take up to 9 months — AMA
2 hours -
AMA confirms trading will be banned on Kaneshie footbridge after rehabilitation
2 hours -
IMANI flags procurement concerns in state insurance placements
2 hours -
Mahama’s push for visa-free Africa reflects Nkrumah’s Pan-African vision – Rashid Tanko-Computer
3 hours -
Redefining sweetness: Why our celebrations must heal, not harm
3 hours -
IMANI urges Mahama to reaffirm his 2014 directive on competitive state insurance placements
3 hours -
Maiden Katon Praise comes off at Accra Sports Stadium on April 17
3 hours