GCB Bank has updated its tariff guide and wallet limit in accordance with a directive issued by the Monetary Policy Committee of the Bank of Ghana (BoG).
This directive is aimed at facilitating efficient payments to promote digital forms of payment for the next three months in the wake of the coronavirus pandemic.
The special updated tariff will allow G-Money customers to send up to ¢100 for free (excluding cash out).
This includes sending money to a recipient on G-Money or another network via the interoperability platform.
The Bank has further reviewed some of its major limits to benefit its customers.
The Head of Operations of GCB Bank, Charles Crabbe, outlined some of the adjustments which have been introduced in the special update.
“Customers will now pay as low as 50 pesewas to transact between ¢100.01 and ¢999.99 within the G-Money network.
Transactions of ¢1000.00 and above from one G-Money account to the other have also been reduced to ¢1,” he revealed.
The Bank has also increased the daily transaction limits for all its KYC accounts. The current limit for the minimum KYC account is ¢1,000.00 while that of the enhanced KYC account is ¢10,000.00.
Additionally, GCB has introduced a limitless maximum account balance offer for both the medium KYC and Enhanced KYC Account holders.
“The rationale of these updated rates is to encourage our customers and all Ghanaians to go cashless with G-money and limit their exposure to banknotes in this less physical contact period,” he added.
In January, GCB Bank launched G-Money, a mobile money service which allows individuals and businesses to store and make transactions on their phones and other personal digital assistant devices (PDA).
This service is part of GCB Bank’s commitment to drive financial inclusion as part of its strategic objectives.
The introduction of G-Money is part of GCB Bank’s mandate to increase the number of digital services available to its loyal customers.
The service is also expected to further propel Ghana’s interoperability system initiated by the Government.
Latest Stories
-
Fire guts Kwadaso Wood market in Kumasi
5 hours -
GPL 2024/25: Gold Stars revive title hopes with win over Berekum Chelsea
6 hours -
We won’t entertain arrogant appointees – Deputy NDC Youth organizer warns
8 hours -
Akufo-Addo’s Aide-De-Camp in good shape after collapsing in Parliament
8 hours -
NPP notifies Parliament of its selected leaders for the 9th parliament
8 hours -
Dumelo loses father days before his swearing in as MP
9 hours -
NPP’s Mandamus Application: This is how the High Court ruled on 4 disputed constituencies
10 hours -
‘Forty Weeks and More’ premieres Jan. 18 on Joy Prime
10 hours -
GHANET urges caution against HIV during the new year festivities
10 hours -
High Court in Accra orders EC to re-collate results for Techiman South
11 hours -
NDC files notice of appeal after High Court ordered completion of results collation in 4 constituencies
11 hours -
2024 Election: South Tongu MP-elect gave Mahama the highest percentage of votes
11 hours -
Daily Insights for CEOs: Mastering time management as a CEO
12 hours -
Kantamanto Market fire: Strengthen investigations or expect more fire – Dwamena-Aboagye
12 hours -
Belgian Foreign Minister to lead EU delegation to John Mahama’s inauguration
12 hours