GCB Personal Banking FAQ
Current Account
The GCB Current Account makes it convenient for any of our cherished customers to make payment and have access to cash using cheques or any other acceptable means.
Who Qualifies?
Are you an individual who frequently makes huge sums of payments? Are you a business person, an employer, a professional or a corporate entity? Then for optimum ease and convenience for payments, a GCB Current Account is the solution.
Your Benefits
Who Qualifies?
Are you an individual who frequently makes huge sums of payments? Are you a business person, an employer, a professional or a corporate entity? Then for optimum ease and convenience for payments, a GCB Current Account is the solution.
Your Benefits
- Convenient access to cash using cheques
- Easier and faster way to make payments
- Faster access to cash using Readycash (ATM) card (for personal account holders only)
- No Balance restriction
- Access to immediate mini-statement through ATM
- Enjoy the security of using cheques for your transactions
- Two passport-sized photographs
- Identity Card (Passport/Driver's License/ Voter's ID)
- Letter of introduction from employers or from an existing customer of GCB Ltd
- Residential and Postal Addresses
- An Initial Deposit
In addition to the above, submit a copy of any of these
- Utility Bill
- Tenancy Agreement
- Social Security ID
- Employer's Reference Letter
- Other Bank's statement
- Income Tax Certificate
- Certificate of Incorporation (certified copy and a photocopy)
- Certificate to commence Business
- A copy of company regulations
- Resolution from Board of Directors
- Certificate of Registration (certified copy and a photocopy)
- Certified true and current copy of Form A. (certified copy and a photocopy)
- ID Card; e.g. Passport, Voters ID, Drivers Licence.
- Letter of Introduction from GCB Ltd current account holder
- Name, Postal Address and House Number
- Two (2) passport size photographs
Flexsave Account
Enjoy a flexible way to save with any of the Bank's branches with low minimum balance requirement plus a Readycash (ATM) card for easy access to funds.
Who Qualifies?
Individuals, Joint Account holders, Clubs/Societies, Sole Proprietors etc qualify to apply for a Flexsave account.
Your Benefits
Who Qualifies?
Individuals, Joint Account holders, Clubs/Societies, Sole Proprietors etc qualify to apply for a Flexsave account.
Your Benefits
- Readycash Benefits
Your account can be linked with the Readycash (ATM-24/7/365) so you have access to your funds and can track your banking activities at any time.
- Frequent Withdrawals
Flexibility in making up to twenty (20) withdrawals in a month.
- Access to all branches
You personally have access to your account at any of the Bank's branches nationwide.
- Competitive Interest Rate
Flexsave allows you to earn more on the money you save - Initial Deposit Requirement
Attractive minimum cash deposit requirement
- Access to Loan
There is a possibility of accessing a loan
- Two (2) recent passport sized photographs
- Original copy of any one of these (Passport/Driver's License/Birth Certificate/Social Security Number/ Voter ID Card)
- A copy of any one of these (Utility Bill/ Tenancy Agreement/ Income Tax Certificate/ Reference Letter/ Employer's Ref, Letter/ Other Bank's statement)
- Residential/ Postal addresses
- Initial Deposit
Kudi Nkosuo Account
Kudi Nkosuo is a hybrid of savings and credit account designed for the informal sector. This account helps the customer cultivate the habit of saving and also be eligible for a loan to expand one's business.
A fixed amount (determined by the customer) is contributed on daily, weekly or on monthly basis. Contributions will have to be consistent without any withdrawal for a minimum of six months to make the customer eligible to apply for a loan.
For purposes of reconciliation, a Passbook will be given to the contributor whiles the Bank maintains its copy.
Who Qualifies
Kudi Nkosuo is targeted at all categories of self-employed persons: Small-Scale Businessmen/ women, Traders, Artisans etc.
Your Benefits
When your loan is approved, the amount you get will be determined by the regular amounts of contribution you have been making.
Your six months (or more) contribution can be used as a partial or total collateral depending on the loan amount granted.
Account Opening Requirements
A fixed amount (determined by the customer) is contributed on daily, weekly or on monthly basis. Contributions will have to be consistent without any withdrawal for a minimum of six months to make the customer eligible to apply for a loan.
For purposes of reconciliation, a Passbook will be given to the contributor whiles the Bank maintains its copy.
Who Qualifies
Kudi Nkosuo is targeted at all categories of self-employed persons: Small-Scale Businessmen/ women, Traders, Artisans etc.
Your Benefits
- The Bank's agent collects your contribution at your convenience in your shop, office, at the market or any appropriate location
- Your savings balance earns interest when it gets to the interest-bearing threshold.
- No deduction is made to your contribution at the end of the month
- You can apply for a loan if you contributed consistently for six months
- The repayment of the loan will not exceed your regular contribution.
- After you have been granted the loan, you have the flexibility of making withdrawals as you continue to repay the loan.
When your loan is approved, the amount you get will be determined by the regular amounts of contribution you have been making.
Your six months (or more) contribution can be used as a partial or total collateral depending on the loan amount granted.
Account Opening Requirements
- Three passport sized photographs
- A copy of any one of these (Passport/Driver's License/ Voter ID Card)
- A copy of any one of these (Utility Bill/ Tenancy Agreement/ Income Tax Certificate/ Reference Letter/ Employer's Ref, Letter/ Other Bank's statement)
- Residential/ Postal addresses
- Initial Deposit
- Flexsave
A flexible means of opening & operating your savings account with any of the bank's networked branches. You may obtain a Readycash card for convenience access to your funds. Read More
- Save & Prosper
A specially designed product for salaried workers who want to set aside part of their regular salaries as savings. Read More
Link2Home
GCB offers you Link2Home account, an innovative product specially packaged to meet your financial needs.
Link2Home account helps you take care of your projects and Commitments at home and also enjoy the same investment opportunities as a resident Ghanaian.
Features & Benefits to Link2Home Account(s)
The Link2Home account is available at all GCB branches in Ghana and at our Money Transfer Organizations across Europe, the USA and Canada.
For Further enquiries,
Link2Home account helps you take care of your projects and Commitments at home and also enjoy the same investment opportunities as a resident Ghanaian.
Features & Benefits to Link2Home Account(s)
- The opportunity to open and operate your account in Ghana
- On-line access to your Account information through Commernet Plus
- Access to loans (may use the account balance as collateral)
- Enjoy a multi-tiered interest rates on Cedi savings account
- Advisory services on the high-interest yield investment products
- Ability to issue standing instructions for payments of mortgage, insurance premium, and school fees etc.
- Ability to buy back foreign currency at GCB’s prevailing selling rates
- Competitive exchange rates for your transfers
- Access to your funds (cedi accounts) 24/7 through the Bank’s Readycash (ATM) card when in Ghana
- Convenient withdrawals from your account when in Ghana at any GCB branch
- Photo ID for priority lane service
- Free quarterly statements
- Customized cheque book and/or savings withdrawal booklet
The Link2Home account is available at all GCB branches in Ghana and at our Money Transfer Organizations across Europe, the USA and Canada.
For Further enquiries,
Call: +233 21 257 617 / 246 040 / 257 615 / 246 031
Fax: +233 21 246 033/ 246042
Email: link2home@gcb.com.gh or global@gcb.com.gh
Fax: +233 21 246 033/ 246042
Email: link2home@gcb.com.gh or global@gcb.com.gh
Overdrafts & Loans
Customers may need funds over and above what they currently have, either to expand their business or start one.
An overdraft facility may be provided in this instance. The following are options available to the customer:
Overdraft Facility:
This is a short-term facility offered to Sole Proprietors, Partnerships and Companies to boost working capital.
This is a personal overdraft facility targeted at high net worth individuals whose salaries are paid through their account at GCB.
Features:
Monies advanced to customer over a specified period usually 12 months payable by monthly equal installments.
Medium Term Loan
The customer enjoys a facility from the Bank and this is paid back over a three to five year period with negotiable repayment terms.
Personal Loans
This is a credit facility offered to salaried workers to acquire specified household items.
Features:
An overdraft facility may be provided in this instance. The following are options available to the customer:
Overdraft Facility:
This is a short-term facility offered to Sole Proprietors, Partnerships and Companies to boost working capital.
- Features:
- Facility is for one year.
- Interest is charged only on debit balance.
- Flexible security arrangements.
Benefits:
- Customers' cash flow needs are adequately provided.
- Flexible terms of negotiation.
- Prompt response to urgent needs.
This is a personal overdraft facility targeted at high net worth individuals whose salaries are paid through their account at GCB.
Features:
- Income should be paid regularly into an account with the Bank.
- Account should generally be conducted well.
- The facility is for one year.
- Loan can be repaid by monthly installments.
- Interest is charged only on debit balance.
- You enjoy financial security.
- No security is required.
- Convenient and flexible.
Monies advanced to customer over a specified period usually 12 months payable by monthly equal installments.
Medium Term Loan
The customer enjoys a facility from the Bank and this is paid back over a three to five year period with negotiable repayment terms.
Personal Loans
- Target: Salaried Workers
Loan Period:- Consumer Loans are repayable in 6-36 months
Auto Loans are repayable in 36-60 months
- Loan Amount
The Loan amount is 30% of the monthly salary multiplied by number of repayment months
- Repayment
Not more than 40% of monthly salary is deducted to service the loan.
Repayment of loan is on reducing balance basis.
- Convenient
- Ability to acquire consumer durables
- Payment of school fees, rent advance etc without hassle.
- Ability to own a Car.
This is a credit facility offered to salaried workers to acquire specified household items.
Features:
- Customer optains a Proforma invoice from any of our designated shops.
- Bank prepares a Payment Order (Bank Draft) for customer to acquire specified item from the shop.
- Repayment of loan is by monthly installments.
- Eases financial burden.
- Ensures comfort and well-being.
- Ensures higher standard of living.
- Repayment is convenient.
ReadyCash ATM
Why worry about some basic transactions when GCB Readycash (ATM) Card allows you to bank 24/7/365 at your convenience. By using your card and Personal Identification Number (PIN), you can have access to your account through any of our ATMs nationwide.
Who can apply?
Any of our individual savings and/or current account holder(s) can apply for the ReadyCash card.
Your Benefits
When you insert your valid ReadyCash card into the
machine, you follow the step by step instruction (indicated below) to have access to your account for any specified request. Please be prompt and cautious in the operation of the machine.
The Bank must be notified as soon as your card is lost or damaged. Again, if there is a possibility of your PIN being known by someone else, you should either change it on the machine or inform the Bank immediately.
Who can apply?
Any of our individual savings and/or current account holder(s) can apply for the ReadyCash card.
Your Benefits
- Easier than writing cheques
- Faster than going to the banking hall
- Convenient access to cash (24/7/365)
- Withdraw cash up to GH¢200.00 per day presently
- Check your balance
- Track your transactions using the mini statement option.
- Change your PIN etc
When you insert your valid ReadyCash card into the
machine, you follow the step by step instruction (indicated below) to have access to your account for any specified request. Please be prompt and cautious in the operation of the machine.
- Insert your card
- Enter your PIN
- Take your returned card
- Collect your cash and/or slip
The Bank must be notified as soon as your card is lost or damaged. Again, if there is a possibility of your PIN being known by someone else, you should either change it on the machine or inform the Bank immediately.
Save & Prosper Account
Save & Prosper is a specially designed product for salaried workers who want to set aside part of their regular income as savings.
A fixed amount is saved by the customer on weekly, fortnightly or on monthly basis.
Who Qualifies?
Every salaried worker
Your Benefits
You can apply for a loan, provided you have saved consistently for six months without any withdrawals. The loan amount will be determined by how much you have saved over the period.
After being granted loan, you have the flexibility of making withdrawals as you continue to repay the loan.
Your six months (or more) contributions can be used as a partial or total collateral depending on the loan amount granted.
Requirements
A fixed amount is saved by the customer on weekly, fortnightly or on monthly basis.
Who Qualifies?
Every salaried worker
Your Benefits
- Secure funds for a rainy day
- Earn more on your money with attractive interest rates
- Withdrawals could be made from the account
- Access to loan facility (should the need arise) after saving consistently for a minimum of six months
- The repayment of the loan will not exceed your regular contribution
You can apply for a loan, provided you have saved consistently for six months without any withdrawals. The loan amount will be determined by how much you have saved over the period.
After being granted loan, you have the flexibility of making withdrawals as you continue to repay the loan.
Your six months (or more) contributions can be used as a partial or total collateral depending on the loan amount granted.
Requirements
- Two passport sized photographs
- Original copy of any one of these (Passport/Driver's License/Birth Certificate/Social Security Number/ Voter ID Card)
- A copy of any one of these (Utility Bill/ Tenancy Agreement/ Income Tax Certificate/ Reference Letter/ Employer's Ref, Letter/ Other Bank's statement)
- Residential/ Postal addresses
- Initial Deposit
- Kudi Nkosuo
A convenient, secure and supporting savings product that enables you to develop your business or trade. Read More - Flexsave
A flexible means of opening & operating your savings account with any of the bank's networked branches. You may obtain a ReadyCash card for convenience access to your funds. Read More
Savings Account
With GCB Savings Account you earn more on the money you set aside regularly as savings for the rainy day. Your account is secure and bears interest to meet your pressing needs
Who Qualifies?
Any Individual, Clubs/ Societies, Sole Proprietors etc qualify to apply for a savings account.
Your Benefits
Who Qualifies?
Any Individual, Clubs/ Societies, Sole Proprietors etc qualify to apply for a savings account.
Your Benefits
- Secure Funds for the future
- Earn more on your money with attractive interest rates
- Interest is accrued daily and applied monthly
- Convenience of accessing your account from any GCB Branch nationwide
- Easy access to Readycash (ATM Card) with its associated benefits
- Three (3) recent passport-sized photographs
- Birth Certificate
- A copy of any one of these (Passport/Driver's License/ Voter's ID/SSNIT ID, with thumbprints or photograph)
- A copy of any one of these (Utility Bill/ Tenancy Agreement/ Income Tax Certificate/ Reference Letter/ Employer's Reference Letter/ Other Bank's statement)
- Residential/ Postal Address
- Initial minimum deposit of GH¢5
- Flexsave
A flexible means of opening & operating your savings account with any of the bank's networked branches. You may obtain a Readycash card for convenient access to your funds.
More
- Save & Prosper
A specially designed product for salaried workers who want to set aside part of their regular salaries as savings.
More
- Kudi Nkosuo
A convenient, secure and supporting savings product that enables you to develop your business or trade.
More
Terms and Conditions
To be detached and given to the Trustee
Please read these terms and conditions of the product before signing the application forms. It provides important information about the Kidistar Account. By signing the application form the Trustee agrees to be bound by these Terms and conditions.
Please read these terms and conditions of the product before signing the application forms. It provides important information about the Kidistar Account. By signing the application form the Trustee agrees to be bound by these Terms and conditions.
- General conditions
- The procedures the Trustee must follow for this banking service are contained in the application form. The Trustee must follow these procedures when using this service.The conditions include maintaining minimum balances, charges, interest rates, notice periods, and other terms which are specific to a particular account or service.
- If the conditions are inconsistent with the general conditions on the application, the former conditions will apply.
- The Account
- Kidistar Account is operated by Ghana Commercial Bank Limited.
- The Bank will not be responsible for debits to funds deposited with it due to any future Government order, Law, Levy, Moratorium, Exchange restrictions or any other cause beyond the Bank’s control.
- The Bank will not be liable for funds handed over to members of its staff outside the banking hours or outside the Bank’s premises.
- Any anomaly in the entries on Bank Statement must be brought to the attention of the Bank within one month of the date thereof. It is agreed that failure to give such notice absolves the Bank from all liabilities arising thereof.
- In the event that the Bank receives from Trustee, an ambiguous or conflicting instruction in connection with an account the Bank may in its absolute discretion and without any liability act or decline to act as the Bank thinks it fit.
- Contacting the Bank
- In trying to communicate any information, the Bank may contact the Trustee by telephone or e-mail via internet, using the latest address, telephone number or electronic mail address the Trustee has given the Bank. It is the Trustee’s responsibility to ensure that the Bank has the current contact details.
- If the Trustee does not inform the Bank promptly of a change of details, the security of the Trustee’s information could be put at risk. Failure to inform the Bank promptly of a change of contact details may result in the security of the Trustee’s information being put at risk.
- The Trustee may contact the Bank at the account holding branch or at the enquiries desk, on phone or by e-mail.
- Instructing the Bank
- Instructions received on the Kidistar account after the close of business at a Branch will be processed on the next working day or on the date specified in the instructions.
- Statements
- The Bank will provide quarterly statements showing all transactions of the Kidistar account including “uncleared” balances. The Trustee must check the statement carefully and inform the Bank as soon as there are transactions the Trustee has not authorized.
- Interest and Charges
- Unless otherwise stated, the interest shall be calculated only on cleared balances on an annual basis and applied monthly.
- Where applicable, the Bank shall charge fees for crediting the Kidistar account via on-line.
- Security
- To help prevent any security breach, the Trustee should also read and follow any security procedures the Bank advises from time to time.
- The Bank will try to prevent a breach of security, resulting in unauthorized access to the Kidistar account and the information the Bank holds about the Trustee. As long as the Trustee has not breached the conditions, the Bank will accept liability for any loss or damage to the Trustee resulting from any breach of security of the Bank’s systems.
- Death of Trustee
- When the Trustee dies, automatically the funds go to the Administrator(s) or Executor(s) of his/her Estate to be managed by them, unless the beneficiary turned 18 years before the death of the Trustee.
- Death of the Beneficiary
- If the beneficiary should die before they reach age 18, the Kidistar account ceases to be operational. The credit to the account as at the date of death will pass to the child’s Trustee. The Trustee will have to communicate the death of the beneficiary to the Bank and provide documentary evidence of the beneficiary’s death e.g. the original copy of the Registrar’s Death Certificate.
