There is 100% increase in charges tariffs for the personal and corporate current account maintenance well as some other charges in the banks of Ghana.
It is essential to increase the charges because there is raising cost of operations and also increment in taxes, the financial mediators say.
Although some banks are yet to implement new charges, most of them have adjusted their tariffs upwards in consonance with rising business costs.
Depending on the number of transactions for the month the charges could go up as high as GH¢300.
Media revealed that some banks which used to charge GH¢5 for maintenance of personal current accounts are now charging GH¢15 per month, and those which use to charge GH¢20 for corporate current accounts are now going for about GH¢45 per month. These charges exclude others such as cheque clearing and printing of account statements.
The banks that affected the biggest increment are mainly in the tier one and tier two categories. However, some tier three and tier four banks have also adjusted their tariffs up significantly.
The pwc 2014 Banking Survey reveals, Eobank Ghana, Stanchart, Stanbic, Barclays, GCB, Zenith and Fidelity Bank made up of the tier one category while the tier two banks are ADB, UBA, CAL, UT, NIB and uniBank.
