A new Survey of Bank Charges released by the Bank of Ghana as of end-September 2025 has revealed substantial variation in what banks charge for everyday services. The report, produced by the Financial Stability Department, highlights how routine banking costs differ across institutions and underscores the importance for customers to examine fee schedules before opening or operating accounts.
Account Requirements and Maintenance Costs
The survey shows that the cost of opening and maintaining basic savings accounts varies widely. Some banks require no initial amount, such as Guaranty Trust Bank, while others, including GCB Bank and Societe Generale, require up to GH¢100 to start a savings account. Minimum operating balances also differ. Absa Bank maintains a GH¢50 minimum balance, whereas Standard Chartered Bank and Zenith Bank do not require customers to keep any minimum amount in their savings accounts.
Digital Banking Fees
The findings also reveal a sharp divide in digital banking charges. While several institutions, including Societe Generale, Stanbic Bank Ghana and Standard Chartered Bank, offer mobile banking, SMS alerts, email alerts and internet banking at no cost, others apply monthly digital service fees. CAL Bank and OmniBSIC Bank charge GH¢5 a month for bundled e-banking services, while Ecobank and GCB Bank levy GH¢10 per month for similar offerings.
Bank Statements Cost
One of the most striking disparities appears in the cost of obtaining duplicate bank statements. First Bank Ghana charges GH¢30 per page, making it the most expensive in the survey. At the opposite end of the scale, Agricultural Development Bank charges GH¢2 per sheet for the same service. For customers who need frequent documentation for business audits, visa applications or loan processing, the difference can add up quickly.
Commission on Turnover and the Shift in Current Account Competition
The survey further notes a shift in how banks handle Commission on Turnover (COT) for current accounts. A number of banks, including Access Bank, First National Bank and OmniBSIC Bank, have eliminated COT entirely for individual current account holders. However, for businesses, COT remains a significant cost. Absa Bank, for instance, charges up to GH¢6,000 as a maximum commission on turnover for corporate accounts.
Costs on Cheque Books, ATM Cards and Other Essentials
Charges associated with physical banking tools also differ considerably. A standard 50-leaf personal cheque booklet ranges from GH¢50 at GCB Bank to GH¢100 at Absa Bank. ATM card issuance typically falls between GH¢20 and GH¢40 across most banks. Card maintenance fees add another layer of variation, with Agricultural Development Bank charging GH¢10 per month and Fidelity Bank charging between GH¢5 and GH¢15 monthly, depending on the type of card issued.
High-End Lending and Guarantee Costs
The survey also highlights the cost of business financing. Processing fees for retail loans generally fall between one and two per cent of the loan value. However, corporate guarantee costs are significantly higher. Absa Bank and National Investment Bank recorded among the highest commissions, each charging 4 per cent per quarter on certain guarantee instruments, with Absa applying a minimum charge of GH¢500.
