A new directive by the Bank of Ghana (BoG) has introduced new mobile money transaction and wallet limits. Customers with Daily Transaction Limits of GHC 1,000, GHC 5,000, and GHC 10,000 have had their limits increased to GHC 2,000, GHC 10,000, and GHC 15,000, respectively. Additionally, account balance limits of GHC 2,000, GHC 15,000, and GHC 30,000 have been increased to GHC 3,000, GHC 30,000, and GHC 50,000, respectively.
“With these improved transaction limits, our customers will be able to transfer much more money without incurring extra charges and also keep more money in their digital wallets securely,” noted David Umoh, the Director of the Central Business Unit at Vodafone Ghana. He encouraged users with dormant or inactive accounts to reactivate their accounts to take advantage of the new wallet limits.
To help lighten the financial burden on its customers brought on by the COVID-19 pandemic, Vodafone waived all charges on any Vodafone Cash transfers in July 2020. The telco has continued to waive all transfer fees to any network till date, even after the implementation of Ghana’s electronic transfer levy.
Mr. Umoh further explained that a key feature that sets Vodafone Cash apart from other mobile money wallets is its commitment to customer safety. In recent times, Vodafone has improved its safety features by including a simple self-reversal process for customers who accidentally send money to the wrong wallet. “With this feature, customers can easily and quickly undo a transaction without having to call customer service,” David added.
To take advantage of the self-reversal feature, customers can simply select option 7 in their Vodafone Cash USSD menu, choose option 2 (self-service), enter their PIN and transaction ID, and follow the prompts. To sign up for Vodafone Cash, customers can text “register” to 558 or dial *558# for self-registration. Customers can also visit any mobile money agent or Vodafone retail shop.