Ghana bank launches new online cheque deposit service

May 15, 2014

Guaranty Trust Bank has introduced a new online system in Ghana that enables customers to deposit cheques into their accounts remotely.

Guaranty Trust Bank has introduced a new online system in Ghana that enables customers to deposit cheques into their accounts remotely.

The 'GTRemote Cheque Capturing system'
operates on a dedicated and secure on-line platform, CAJ News Africa reports.

The bank said it will reduce the time required by customers to physically deposit cheques at the bank and simultaneously will facilitate savings by eliminating the cost of going to the bank and having a dedicated employee to deposit the cheque.

Other benefits of the system are that it provides customers with greater convenience, protects and encrypts information, makes balancing fast and easy, provides quick cheque image retrieval and reduces paper handling errors.

According to the Consultative Group to Assist the Poor (CGAP), Ghana should be a ripe market for branchless banking and mobile money, being one of the world’s fastest growing economies.
Yet, the market has been slow to take off.


The Bank of Ghana (BoG) issued guidelines in 2008 to support its development, calling for branchless banking services to be led by banks, with at least three banks involved in every service.

However, the guidelines had the opposite effect intended, as the more banks there are in each partnership, the lower the motivation to invest, according to CGAP.

The Bank of Ghana recognised the discrepancy of market developments from its original vision and has re-engaged, since 2013,
the entire range of market players in a dialogue around the regulatory framework.ADNFCR-2976-ID-801720390-ADNFCR