You can withdraw dollars over the counter – BoG

The Bank of Ghana (BoG) has issued a statement clarrifying that customers can still withdraw US dollars over the counter from their foreign exchange accounts. This clarification was made to counter recent claims by a board member of the Bank of Ghana, Dr. Isaac Adongo whicc suggested otherwise, sparking confusion.

 The Ghana Association of Bankers (GAB) has confirmed that no changes have been made to existing regulations regarding foreign exchange withdrawals.

According to the BoG, over-the-counter (OTC) cash withdrawals in foreign currency from Foreign Exchange Accounts (FEAs) and Foreign Currency Accounts (FCAs) remain permitted.

However, for non-FEA and non-FCA account holders, forex purchases for travel outside Ghana are allowed but capped at US$10,000 or its equivalent per person per trip.

The BoG also stated that such transactions must be backed by a valid passport, visa, and a confirmed travel ticket, in accordance with BoG Notice BG/GOV/SEC/2014/09