Friday, 19 September 2014

Bank Of Ghana Introduces New GHC 50 Deposit Fee

By on 14:42

Due to a deteriorating economy, Bank of Ghana has released measures to cover costs incurred by banks whenever a customer makes a deposit into their bank account.
Bank of Ghana introduced a new GHC 50 deposit fee Wednesday morning to all financial institutions in the country.
“Starting Wednesday September 17, we have instructed all financial institutions in the country to charge customers who make any form of deposit,” bank spokesperson Mr. Yaw Awuah told the media, adding that the GHC 50 will be automatically deducted any time a customer makes a deposit into their account, whether personal or commercial.

“We’re strongly confident that this fee will help us resuscitate the dying cedi. As long as customers continue to make deposits, they will become accustomed to the GHC 50 fee and soon it will not be an issue for most of the clients to the financial institutions in Ghana.”

The Bank warned that if deposits decrease as a result of this new measure, they will be left with no choice but to increase the deposit fee to GHC 100.

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