By: Alexander Afriyie
In a recent statement, Isaac Adongo, a prominent figure in Ghana’s financial sector, announced that customers can no longer withdraw dollars over-the-counter from their dollar accounts at banks. This change affects individuals who hold dollar-denominated accounts and have been accustomed to accessing their funds directly from bank branches.
According to Adongo, the new policy aims to streamline dollar transactions and promote digital banking channels. Customers will now need to explore alternative methods to access their dollar funds, such as online banking, mobile banking apps, or ATMs.
The move is expected to reduce the demand for physical dollars in circulation and encourage the use of digital payment systems. However, it may also cause inconvenience for some customers who rely on over-the-counter transactions for their daily needs.
It is essential for affected customers to familiarize themselves with the new procedures and explore available options for accessing their dollar funds. Banks are expected to provide guidance and support to help customers adapt to this change.
The impact of this policy on Ghana’s economy and the banking sector remains to be seen. As the country continues to navigate economic challenges, it is crucial for financial institutions to strike a balance between promoting digital banking and ensuring customer convenience. Alexander Afriyie