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How Ghanaian banks charge clients for processing their salaries

  • As at December 2018, some banks in Ghana charged nothing for some major services.
  • Meanwhile, other services attract substantial fees.
  • The Bank of Ghana has published the charges of the various banks as at last year.

Ghana’s Central Bank has released the transaction fees banks in Ghana charged for their services in 2018.

According to the information released by the Bank of Ghana (BoG), some banks charged as high as GHC24 while others charged nothing at all as salary processing fees.

The salaries of Customers of UBA were processed for free but external customers were charged GHC 24 Cedis for the processing of their salaries.

In a related development, customers of Bank of Africa were not charged for the processing of their salaries. On the other hand, external customers were charged GHC 20 for the processing of their salaries.

OmniBank which has been merged with Sahel Sahara Bank to form one entity charged a salary processing fee of GHC 5 Ghana Cedis for salaries processed through the Automated Clearing House and GHC 20 Cedis for salaries cleared through the Ghana Interbank Settlement System.

However, banks like BSIS, GT Bank, Consolidated Bank, and GHL Bank charged relatively moderate fees.

Internal customers of Sahel Sahara bank, GT Bank and GHL Bank all got their salaries processed for free but external customers were charged GHC 5 as salary processing fee. 

Meanwhile, Consolidated Bank charged GHC 5 for all salaries processed.

The data also showed that banks like ADB, Societe General, and Stanbic Bank charged nothing to process salary for internal customers but charged GHC 3, GHC 4 and GHC 2 respectively to process salaries for external customers.

From the data, only Standard Chartered Bank charges nothing for the processing of salaries for both internal and external customers as at the end of 2018.

The BoG said it published this information to promote transparency in the provision of banking services.

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