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Non-Resident Ghanaians Can Use Passport For Bank Transactions – BoG

The Ghana card has become the valid ID for most of the digital and electronic registration processes in Ghana. Citizens were advised to update their banking information with the card before they can undertake any banking related transactions.

The Bank of Ghana issued a notice that, only Ghana cards would be accepted for bank transactions effective July 1, 2022.

Therefore, all bank account holders were expected to visit their respective banks and update their bank details with the card.

Although there is no deadline for linking the Ghana card to bank accounts, there was a worry about how Ghanaians living abroad could perform bank transactions.

The Bank of Ghana

The Bank of Ghana has directed banks to accept passports of Non-Resident Ghanaians for bank transactions till the facility is opened to them to obtain their cards.

In line with the National Identity Registration Regulation L.I 2111(2) which exempts members of Diplomatic Corps from the usage of Ghana cards, the Central Bank says the foreign passport of the members could be as a means of identification for bank transactions.

Read This:
a. Cheaper Ways To Transfer Money from Africa to the USA, UK or Australia in 2022

According to the Bank of Ghana, customers who haven’t linked your bank details with your Ghana card, would only be allowed to make deposits through cash, cheques or transfers.

However, they will not be allowed to make any form of withdrawals until they’ve updated their bank details and verified with the Ghana card.

According to the verification guidelines, Accountable Institutions(AIs) such as financial institutions “shall use only the Ghana card to identify and verify all customers including Ghanaian citizens living in Ghana and abroad, permanent residents, ECOWAS nationals who are residents, foreign directors/shareholders and non-residents for on-boarding (account opening).

The electronic transaction levy(e-levy) is in full operation and, affects every bit of your bank transactions in Ghana except deposits in cash and cheque. Here are the e-levy rates on your bank transfers and withdrawals.

You can also look at the July,2022 treasury bill rates on the Ghanaian money market, and how to buy treasury bills with mobile money to at least preserve the eroding value of your money. Don’t keep your money under your mattress!

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