Current Account

Deposit Products

This is a demand account; that is, Cash can be withdrawn with OR without any notice to the Bank.

Account Opening Procedure

  1. Two (2) Passport-sized photographs
  2. Introductory letter from the customers institution in case of Salary workers and introduction of new customer by already known customers of the Bank
  3. Photo identity card such as Ghanaian passport, Voter ID Cars, National Health Insurance Card, National Identification Authority Card and Driving License.
  4. Minimum deposit of GH¢10.00 is initially required
  5. Cheque book and cash pay-in book are issued to Customer after registration.

Features of the Product

  1. It does not attract interest
  2. The account can be overdrawn with permission from the authorities of the Bank
  3. Cost of Transaction or Turnover (COT) is chargeable on monthly basis. However salary workers current accounts attract service charge monthly.
  4. Cost of cash pay-in book and cheque book is borne by the customer
  5. The account can be CLOSED under any of the following conditions:
    1. By the customer, on his or her own discretion
    2. Death of the customer after receipt of LETTERS OF ADMINISTRATION OR AFFIDAVIT from a competent Court of jurisdiction.
    3. When the customer fails to re-activate the account after 2 years DORMANT PERIOD
  6. Returned cheques attract a penalty of 1% OR minimum of GH¢5.00 on the face value of the cheque. The returned cheques are neaty registered and given back to owners within 48hrs.
  7. Logged clearing cheques attract a commission of 1% OR  minimum of GH¢5.00 and a maximum of GH¢50.00 on the face value of the cheque.

PLEASE NOTE

There are six(6) types of accounts available to customers of Current Accounts. They are:

  1. Personal Account
  2. Group Account
  3. Enterprise Account
  4. Partnership/Joint Account
  5. Institution Account
  6. Company Account

Personal Account
The demand for opening the account is the same as general requirement of Ordinary savings and Curent Accounts.

Group Account
Requirement shall be as follows:

  1. Constitution of the Group
  2. Resolution of the Group
  3. Bye-Laws of the Group

NB: It must be registered with the Co-operative office

Enterprise Account

  1. Registration Certificate OR Form A
  2. REGULATION

Partnership/Joint Account

  1. Partnership Deeds/Agreement
  2. Resolution

Institution

  1. Constitution
  2. Resolution

Company

  1. Certificate of Registration
  2. Certificate to Commence Business
  3. Regulation and Resolution