The Bank of Ghana (BoG) has increased the amount and transaction limitations of consumers’ mobile money (MoMo) wallets, beginning today, March 1, 2024.
According to a statement from the Ghana Chamber of Telecommunications, the development is consistent with expanding transactional patterns and changing client expectations.
Customers’ daily transaction limits on MoMo have been raised from GH¢2,000 to GH¢3,000 for minimum accounts and GH¢10,000 to GH¢15,000 for medium accounts.
In the same line, an improved account with a GH¢15,000 barrier has been raised to GH¢25,000 daily.
On maximum accounts, a minimum account with an initial limit of GH¢3,000 has been revised to GH¢5,000, while medium accounts with a current limit of GH¢25,000 have been enhanced to GH¢40,000.
The improved accounts with a GH¢50,000 barrier has been examined and increased to GH¢75,000.
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The monthly transaction limit for the minimum account has been increased from GH¢6,000 to GH¢10,000 following a review.
The medium account, which had no monthly transaction restrictions, and the enhanced account, which also had no monthly transaction limits, have not altered.
“Kindly reach out to the personnel of our members at any of their customer service centers across the country, for any clarification you may need” , the press release went on to say.
