BoG increases how much Mobile Money you can send a day

The Bank of Ghana (BoG) increases how much mobile money customers can send in a day for all accounts.

According to the press release, the decision by BoG is to ensure people are not discomforted during the Yuletide.

What is means is that, the daily limit of money transfer that customers can send have been increased.

Spending by mobile money users is expected to inch up during the holidays hence the review.

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.”

Those who have been limited to sending a maximum of GHS1000 every 24 hours can now send up to GHS2,000.00 within the same period.

Those who have been limited to sending a maximum of GHS5000 every 24 hours can now send up to GHS10,000.00 within the same period.

Those who have been limited to sending a maximum of GHS10000 every 24 hours can now send up to GHS15,000.00 within the same period.

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The statement indicated that…

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.

Again mobile money accounts (KYC Account ) that have the account balance being limited to GHS2000.00 have had their balances increased to GHS3000.00

Mobile money accounts (KYC Account ) that have the account balance being limited to GHS15000.00 have had their balances increased to GHS25000.00

Mobile money accounts (KYC Account ) that have the account balance being limited to GHS30000.00 have had their balances increased to GHS50000.00