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
-
Weeping skies bid farewell to Dr. Omane Boamah
4 hours -
Betway delivers solar-powered solution in Ayensuano District
5 hours -
CMS-UG to mark 20 years of leadership in migration scholarship and partnerships in 2026
5 hours -
Eulogies in Koforidua: First Lady leads state’s final tribute to Defence Minister Dr. Omane Boamah
5 hours -
Misconception on survey sponsorship by respondents likely to affect research credibility — Richard Adjadeh
5 hours -
The challenges of embracing new energy: Rural Ahafo women on Ghana’s clean energy transition
6 hours -
Joy FM Festival of Nine Lessons and Carols ends with music, worship and thanksgiving
6 hours -
GRA locks up Osu’s Cloud 9 Pub over non-payment of taxes
7 hours -
GPL 25/26: Hearts pip Nations to return to winning ways
7 hours -
GES dismisses claims of ‘secret recruitment’ and bribery allegations
7 hours -
UTNMG condemns alleged financial exploitation at Bolgatanga Nurses’ Training College
8 hours -
Ghana Prisons Service launches ‘Think Prison 360 Degrees’ initiative in Eastern Region
8 hours -
He was a legend – NPP pays tribute to Daddy Lumba
8 hours -
President Mahama arrives in Nigeria for 68th ECOWAS Heads of State Summit
8 hours -
One dead, 3 injured in Juaboso-Bonsu Nkwanta road accident
8 hours
