How To Open Bank account in Ghana
Business owners in Ghana can count themselves lucky because the country’s economy is booming. At present, 23 commercial banks serve the country’s expanding business community. Both locals and foreigners in the country can open a bank account with these institutions.
Opening a bank account in Ghana varies at various financial institutions. Inquire with your bank for a “user guide” or other instructions on how to create your account.
How To Open Bank account in Ghana
Follow these steps to open a bank account in Ghana:
- Pick a bank: Choose a bank where you want to open an account.
- Get the necessary paperwork: You will need to show proof of who you are, like a passport or national ID card, proof of where you live, like a utility bill, and your tax ID number (TIN).
- Fill out a form to apply: To fill out an application form, go to the bank’s website or a branch.
- Send in the necessary paperwork: Give the bank the completed application form and the documents they need.
- Wait for your account to be approved. The bank will check your name and address and, if everything looks good, will approve your account and give you an ATM card. Usually takes less than 48 hours.
- Activate the account: Once your account is approved, you will need to activate it by putting money into it.
Requirements for opening a bank account in Ghana as a foreigner
- A legitimate ID, like a passport, is required.
- Proof of residency.
- Tax Identification Number
- Passport Picture
- Work or residence permit.
- You’ll need a personal recommendation letter from your native country’s bank.
- Reference letters from previous employers and/or current bank account holders are sometimes required when applying for a loan at a Ghanaian bank.
Requirements for opening a bank account in Ghana
- Provide proof of identity: you need to prove who you are and where you live.
- Fill in an application form:
- Provide legal name & any other name used. (such as maiden name)
- Permanent address (full address should be provided; post office box is not sufficient), important landmarks close to your residence should act as a complement.
- Telephone number, fax number, and e-mail address
- Date of birth
- Nationality
- Occupation, public position held and/employers name
- With students, an introductory letter from the student’s institution, signed by the head of the institution or his representative and a student ID card.
- Type of account and nature of banking relationship
- Signature
- Any other information the respective bank may require
- Name of institution
- Principal place of institution’s business operations
- Mailing address of institution
- Contact telephone and fax number
- Original or certified copy of the regulations, business registration and commencement of business
- Resolution of the board of directors to open an account and identification of those who have authority to operate the account.
- Nature and purpose of business and its legitimacy.
- Website addresses of the institution if any
- E-mail addresses of the (directors) signatories of the accounts
- Pay the initial deposit (or more) into your account. You will need proof of identity (Residence).
Acceptable documents include:
- Passport
- Driver’s License
- I.D. Card from work (introductory letter from employers)
- Voter Identification Card
- Resident Permit
- Proof of address
- Electricity/Water Bills (Utility Bills)
- Telephone bills
- Tenancy Agreement etc
Read also: How To Open a US Bank Account Online In Africa
Banks in Ghana
- Bank of Ghana
- Ghana International Bnak Plc
- Fidelity Bank
- Ghana Banking Awards
- Ghana Interbank Payment and Settlement Systems
- Ghana Commercial Bank
- Stanbic Bank Ghana
- National Investment Bank
- Ecobank Ghana
- Ghana Home Loans
- First Atlantic Merchant Bank Ltd
- GhanaForex
- The Trust Bank Limited
- Zenith Bank Ghana
- HFC Bank Ghana
- Financial Solutions Providers and Advisers
- Guaranty Trust Bank (Ghana) Ltd
- SG-SSB Ltd
Reference: https://www.bog.gov.gh/
