Information gathered by Joy Business indicates many banks are rejecting the new voters and national identification card as form of identification in opening accounts and undertaking transactions.
It is however not the fault of the banks as both the voters and national identification cards have not been validated.
Joy Business checks at some branches of the commercial banks indicate that the banks do not recognize these ID cards because they cannot validate them from the system called ‘G Vive’.
They however accept the driver’s license, SSNIT ID cards and passports, but reject outrightly the National Health Insurance Card because they perceive it as fraught with fraud, while the risk exposure is very high.
Nonetheless, the issue is how many people possess the driver’s license, SSNIT ID cards and Passports.
In as much as banks are doing their best to curb money laundering, Joy Business believes the challenge may deny many Ghanaians access to financial services if not addressed immediately.
Again, a cross section of Ghanaians who frequently use Mobile Money Services for payment and other transactions will be denied access from 1st March, 2021.
In this age of financial inclusion, banks will have to be innovative by allowing guarantors to guarantee for potential account holders and those who come to do transactions.
E-Banking Expert, Raymond Appiah-Danquah told Joy Business “what I will suggest is that the banks should be able to ask a customer to present a guarantor whose ID card can be validated so that you will not deny people of financial services. If it were to be the advanced countries they will have relied on your digital address, but we all know where we are in Ghana at the moment."
Many will want to see the Bank of Ghana moving quickly to ensure that both the new voters and the national identification card are accepted as mode of identification for banking transactions.
Latest Stories
-
Residents of Dome-Kwabenya on edge ahead of December elections
11 mins -
Moffy drops new single ‘Wo’, blending culture and modernity
24 mins -
Don’t bring soldiers to polling stations – Martin Kpebu
36 mins -
Ogyeahohuo Yaw Gyebi II retained as President of National House of Chiefs
51 mins -
Embrace ICT to fit in digital world – Ho NYA boss to youth
2 hours -
We don’t want armed soldiers at polling stations – Tanko-Computer
2 hours -
Drama as police corner armed robbers inside locked forex bureau at Lapaz
2 hours -
30% quota for less privileged shows Free SHS is inclusive – Ofosu Nkansah
2 hours -
Nigerian-born conquers childhood hearing loss to become KNUST’s overall best graduating student
2 hours -
ECOWAS Court orders compensation for violations against New Force’s Shalimar Abbiusi
2 hours -
Dreams FC denies allegations of attempting to sign Najeeb Yakubu
3 hours -
Election 2024: ‘Right to free and fair elections non-negotiable’ – Akufo-Addo
4 hours -
Kurt Okraku took out my passport from the U23 squad that travelled to Japan – Najeeb Yakubu alleges
4 hours -
Where hope fails: Ghana’s decaying home for the destitute
4 hours -
NDC Mining Committee for 2024 campaign refutes allegations of recruiting thugs for elections
4 hours