See The New Momo Balance Transaction Limits Effective March 1

The Bank of Ghana (BoG) has announced an upward revision of balance and transaction limits for customers' mobile money wallets, with changes set to take effect from March 1, 2024.

According to a statement released by the Ghana Chamber of Telecommunications, this adjustment aligns with the growing volume of transactional activities and evolving customer requirements.

Under the revised limits, daily transaction caps have been raised across different tiers of mobile money accounts. The minimum account, previously capped at GHcent;2,000, will now have a limit of GHcent;3,000, while medium accounts, previously set at GHcent;10,000, will see their limits increased to GHcent;15,000.

Similarly, the threshold for enhanced accounts, previously at GHcent;15,000, has been elevated to GHcent;25,000 per day. Maximum account limits have also been adjusted upwards, with the minimum account limit rising from GHcent;3,000 to GHcent;5,000, medium account limits increasing from GHcent;25,000 to GHcent;40,000, and enhanced account limits climbing from GHcent;50,000 to GHcent;75,000.

In terms of monthly transaction limits, the minimum account, previously capped at GHcent;6,000, will now have a limit of GHcent;10,000. However, there are no changes to the monthly transaction limits for medium and enhanced accounts.

Customers seeking clarification on these changes are advised to contact customer service representatives at the respective mobile money service providers across the country, as stated in the announcement.graphiconline