So you heard about the G-Money wallet — GCB Bank’s mobile money service, and you want to sign up. However, you’re worried about hidden charges and the cost of maintaining a G-Money wallet.
As it is with many other such services, there are maintenance charges attached to customer accounts. Thankfully, that is not the case with G-Money.
Are there any charges for maintaining a G-Money wallet?
No. Account holders pay no maintenance charges on their wallets. Neither are you obligated to maintain a minimum balance. However, there are transaction charges or tariffs and limits on transaction amounts as listed below.
Daily transaction tariffs
- Any amount GHS100 and below attracts no charges.
- Transactions worth GHS100.01 to GHS999.99 attract GHS0.50 on-network (P2P), and 1% tariff for mobile money interoperability transactions.
- For amounts GHS1000 and above, you pay GHS1 on-network and GHS10 for mobile money interoperability transactions.
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What is the G-Money wallet?
It is a digital payment (mobile money) platform for facilitating the transfer of funds from one account (bank or mobile wallet) to another. Your G-Money account also offers you convenience as it can be used to purchase and make payment for other services such as utility bills, airtime, and even tuition fees.