ECOBANK Withdraws Charges On Foreign Account But Barclays & Stanchart Maintain It

The 0.15% monthly fee for foreign accounts holders at ECOBANK Ghana has been withdrawn.However,Standard Chartered Bank and Barclays Ghana have maintained the fees even in the wake of ECOBANK?s change due to complaints by customers.

The Bank of Ghana (BoG)?s approach to curb the ?dollarisation? of the economy by imposing 2 percent per annum charge on foreign currency accounts by Ecobank, Stanchart and Barclays came up after BoG?s directive to all commercial banks to keep 9 percent of their reserves with the Central Bank.

Already Ecobank had lost a lot of customers to other banks who charged no additional amount for foreign account holders but this move is expected to bring back the lost customers.

Source : omgghana


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