{"id":3470,"date":"2024-02-28T12:13:03","date_gmt":"2024-02-28T12:13:03","guid":{"rendered":"https:\/\/www.fishfmonline.com\/?p=3470"},"modified":"2024-02-28T12:13:05","modified_gmt":"2024-02-28T12:13:05","slug":"momo-transactions-bog-revises-customer-wallet-caps-effective-march-1","status":"publish","type":"post","link":"https:\/\/www.fishfmonline.com\/?p=3470","title":{"rendered":"Momo Transactions: BOG Revises Customer Wallet Caps Effective March 1"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">In a move to accommodate the growing trends in transactional activities and evolving customer needs, the Bank of Ghana (BoG) has announced revisions to the balance and transaction limits of mobile money wallets, effective March 1, 2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the Ghana Chamber of Telecommunications, this decision comes in response to the surge in mobile money transactions, as highlighted in the 2023 Fintech Sector report released by the Bank.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The report revealed a substantial 79 percent increase in the total value of Mobile Money transactions, reaching GH\u00a21.9 trillion compared to the figures recorded in 2022. Additionally, the total value of Mobile Accounts (Funds) held with commercial banks witnessed a 40% increase, reaching GH\u00a218.3 billion.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the newly approved guidelines, the transaction limits for various customer accounts have been adjusted:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;Minimum Account, Medium Account and Enhanced Account: Previous Limits: GH\u00a22,000, GH\u00a210,000, and GH\u00a215,000 Revised Limits: GH\u00a23,000, GH\u00a215,000, and GH\u00a225,000 respectively<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Minimum KYC Account: Previous Limit: GH\u00a23,000 Revised Limit: GH\u00a25,000 Medium KYC Account: Previous Limit: GH\u00a225,000 Revised Limit: GH\u00a240,000 Enhanced KYC Account: Previous Limit: GH\u00a250,000 Revised Limit: GH\u00a275,000<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0Furthermore, the monthly transaction limit for a Minimum KYC Account has been increased from GH\u00a26,000 to GH\u00a210,000.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<div class=\"ose-youtube ose-uid-bbbece94d6f227ac6c7fc42abf9e9f13 ose-embedpress-responsive\" style=\"width:400px; height:400px; max-height:400px; max-width:100%; display:inline-block;\" data-embed-type=\"Youtube\"><iframe loading=\"lazy\" allowFullScreen=\"true\" width=\"400\" height=\"400\" src=\"https:\/\/www.youtube.com\/embed\/lm5Lo2c07kE?feature=oembed&color=red&rel=0&controls=1&start=&end=&fs=0&iv_load_policy=0&autoplay=0&mute=0&modestbranding=0&cc_load_policy=1&playsinline=1\" frameborder=\"0\" allow=\"accelerometer; encrypted-media;accelerometer;autoplay;clipboard-write;gyroscope;picture-in-picture clipboard-write; encrypted-media; gyroscope; picture-in-picture\" allowfullscreen referrerpolicy=\"origin\"><\/iframe><\/div>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Medium and Enhanced accounts, which previously had no limits on the value of monthly transactions, will remain unchanged. The Ghana Chamber of Telecommunication, acting as an advocacy institution, encourages the public to seek clarification at any of their members\u2019 customer service centres across the country<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In a move to accommodate the growing trends in transactional activities and evolving customer needs, the Bank of Ghana (BoG) has announced revisions to the balance and transaction limits of mobile money wallets, effective March 1, 2024. According to the Ghana Chamber of Telecommunications, this decision comes in response to the surge in mobile money [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":3471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[9,41],"tags":[1156],"class_list":["post-3470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-general-news","tag-bog"],"_links":{"self":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3470"}],"version-history":[{"count":1,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3470\/revisions"}],"predecessor-version":[{"id":3472,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/posts\/3470\/revisions\/3472"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=\/wp\/v2\/media\/3471"}],"wp:attachment":[{"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fishfmonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}