Bankers in talks with BoG over a bill on over-the-counter withdrawals

The Ghana Association of Bankers (GAB) is in talks with the Bank of Ghana (BoG) to come up with a bill that will limit over counter withdrawal at the commercial banks.

The GAB says this will limit armed robbery attacks on people who visit financial institutions in the country.

There has been an increasing rate of armed robbery attacks on customers who visit financial institutions to transact businesses.

The situation has been a worry to many Ghanaians and have called for improved security at these financial institutions.

Speaking on this issue on 3FM’s Sunrise on Monday hosted by Alfred Ocansey, the Chief Executive Officer of GAB, John Awuah said “do direct transactions from your banks to your phones. Don’t visit the mobile vendors”.

“You don’t have to go and take large physical money from one branch to the other. You only have to instruct your bank to do the transfer to the other bank”.

He explained that “there is serious risk in carrying notes and coins. Our first point of call is to reach our pocket and pull cash…but that should be our last point now because of the situation”.

Mr. Awuah said “we are currently in talks with BOG to come out with over the counter withdrawal limit bill and we are exploring that too”.

“We want people to withdraw a minimum. The ATM is for minor payment and the media must also educate the populace on that. We have several platforms to use for transactions”.

The CEO said “why must you withdraw GHS100,000 over the counter…except to pay for something you don’t want people to know”.

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By Kweku Antwi-Otoo||Ghana