Ghana launches interbank ATM transaction switch

Nov. 27, 2012

Customers of 14 Ghana banks will soon enjoy the ability to carry out ATM transactions at banks other than their own, thanks to the recent launch of Gh-LinkBanking by the Ghana Interbank Payment & Settlements Systems.

At the official launch of the service, GhIPSS CEO Archie Hesse said that further interbank switching efforts would follow, according to a report at Ghana Web. “We will also be working with our counterparts in French-speaking West African countries and Nigeria to interconnect with their switches in the not-too-distant future,” he said.

Hesse said that his organization was also working to enable check-clearing in hours, rather than days, as is currently the case. GhIPSS has also launch and ACH which will offer fee-based interbank transfers under a direct credit system, the  Ghana Web story said.

Ghana currently has 27 banks with a combined total of 700 branches across Ghana, as well as 100 rural community banks and more than 50 non-bank financial institutions.

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Topics: Middle East & Africa , Networking / Connectivity

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