BoG Increases Mobile Money Wallet Transaction Limits Effective March 1

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The Bank of Ghana (BoG) has announced a significant revision to the balance and transaction limits of customers' mobile money wallets, set to take effect from March 1, 2024. This move comes as a response to the growing trends in transactional activities and evolving customer demands within the digital payment landscape.

Related To This: Government Announces The Revision Of The Electronic Transfer Levy.

The Ghana Chamber of Telecommunications conveyed this update, highlighting the adjustments aimed at accommodating the increasing volume of mobile money transactions and catering to the shifting needs of customers across the country.

In the revised limits, daily transaction thresholds for different account tiers have been adjusted upwards to align with the changing financial behaviors and requirements of mobile money users. Here's a breakdown of the updated limits:

Minimum Account
- Previous Daily Limit: GH¢2,000
- Revised Daily Limit: GH¢3,000
- Previous Maximum Limit: GH¢3,000
- Revised Maximum Limit: GH¢5,000
- Previous Monthly Limit: GH¢6,000
- Revised Monthly Limit: GH¢10,000

Related To This: BoG to Convene Meeting on Unauthorized Deductions in Mobile Money Transfers

-Medium Account
- Previous Daily Limit: GH¢10,000
- Revised Daily Limit: GH¢15,000
- Previous Maximum Limit: GH¢25,000
- Revised Maximum Limit: GH¢40,000
- Monthly Limit: No changes

Enhanced Account
- Previous Daily Limit: GH¢15,000
- Revised Daily Limit: GH¢25,000
- Previous Maximum Limit: GH¢50,000
- Revised Maximum Limit: GH¢75,000
- Monthly Limit: No changes

The adjustments in the transaction limits aim to facilitate smoother and more flexible mobile money operations for customers, enabling them to transact larger amounts with added convenience and efficiency.

For further clarification or assistance regarding these revised limits, customers are encouraged to engage with the customer service representatives at the various service centers of the constituents of the Ghana Chamber of Telecommunications across the country.


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