How to Open a Bank Account in Ghana

Having a bank account is a necessity for most people in today's modern society. Apart from being a way to store and save your money, it also is an excellent way to develop a credit history, which can come in handy when you have to get a loan. In Ghana, there are several different banks that offer banking services to satisfy diverse needs. Opening a bank account is straightforward in this country, and as long as you are 18 or older, it can be done relatively quickly.

Choose the bank with whom you want to do business. This decision will depend on many factors including reputation and services offered. Some banks have longer hours and depending on your schedule, such an arrangement might be preferable. The bank chosen can also depend on whether a branch location is nearby or whether branches are widespread. If you live in Accra, the capital, there are many banks and branches that are easily accessible. In that situation, simply choose the one that is conveniently located. However, if you live in a smaller city or village, your banking options will be limited by what banks operate in the area.

Choose the type of bank account you need. There are many different types of bank accounts and they serve different purposes. A current account is useful for those who need a place to park their earnings and seek to withdraw money on a regular basis. A savings account is also used to store money but cannot be accessed frequently. Instead, money sits in the account and accrues interest. There are several types of savings accounts available in Ghana, and the offerings will depend on the bank you choose. There are also corporate accounts, which are transactional accounts used by entrepreneurs and large organisations for their business needs.

Visit the bank of your choice to complete an application. To find the nearest branch, check the bank's website, which will provide a list of locations. At the bank, ask a teller for a bank account application form. Complete the form and return it to the teller or another bank employee. You will need to have a valid form of identification such as a driver's license, a government-issued identification card or a current passport. A copy of your payslip and/or a letter from your employer confirming your employment will also be necessary. If you are self employed, bring evidence of your income to show that you will, in fact, have money to put in the account.

Wait for the bank account application to be approved. Shortly after submitting the application, your bank account will be created. This is so long as there are no problems with the information you provided in the application.

Tip

Once your Ghana bank account is opened, you can start using the bank's services, such as an ATM card and online and mobile banking.

Warning

Ask the bank employees about all bank fees and charges that will be applied to the type of account you choose. These fees can add up and become costly over time.

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Things Needed

  • A valid form of identification
  • Proof of employment or income

About the Author

Sydelle John is a lawyer who started writing professionally in 2007. She has written for the Guardian's Comment is Free and Pambazuka News, which focuses on pan-African issues. John has a Juris Doctor from the George Washington University Law School and a Bachelor of Arts in political science from Vassar College.

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