- What is G-Money?
The G-Money Wallet is a digital wallet that enables individuals, institutions, and businesses to access various digital financial services across Ghana. Using a dynamic and secure platform, G-Money users can transfer money, make payments, contract loans, and participate in Ghana’s financial ecosystem primarily using their mobile device(s).
- Is G-Money regulated?
G-Money is licensed by the Bank of Ghana (BoG) as a Dedicated Electronic Money Issuer, guided by such legislative instruments as the Payment Systems Act (987), among others. The BoG is the primary regulator of the EMI space, and has published Guidelines for EMIs as a basis for regulating all mobile money and digital wallet activities in Ghana. Being a legitimate legal entity, G-Money is also required to comply with all statutory and regulatory dictates, and has obligations to the Companies Registrar, GRA, SEC, SSNIT, and the Data Commissioner. G-Money is currently in good standing with all regulatory authorities.
- Who can use G-Money?
Any legal adult (ie is 18 years or older) who has a registered SIM or mobile number (on any Mobile Network Operator) can register for and use G-Money. For example, having MoMo on an MTN number does not prevent an individual from also registering for G-Money with the same number. In some specific instances, with the necessary regulatory approvals, other categories of users (including those younger than 18 who hold a legitimate Ghana Card ID) may be able to register for some peculiar services.
- How do I register for G-Money?
Interested prospects can register for G-Money by downloading and using our Mobile App, and providing all the required information (including, most importantly, their Ghana Card number). Prospects may also visit GCB branches or selected G-Money agents for assistance with registration.
- Can a user use his / her existing mobile number to register for G-Money?
Yes, if that same number is not already registered on G-Money. Our service is “network agnostic”. This means an individual can use any mobile number on any Network to register, even if he / she already uses that number for another mobile money service.
- Do all mobile phones support G-Money?
Yes. G-Money can be set up and used on any type of mobile phone. Our USSD service is available for both feature phones and smartphones, while our Mobile App works on both Android and iOS (Apple) smartphones.
- How safe is money on my G-Money?
Our customers’ money are completely safe! Due to our compliance with all regulatory and security dictates, backing from one of the largest and most assured banks in Ghana, our commitment to consumer protection, and a platform that is ISO certified, customers’ money are in very safe hands. We do, however, urge our users to observe secure practices when accessing or using your wallet.
- What happens to cash on customers’ Wallet if their Phone / SIM card is lost or stolen?
Customers’ G-Money Wallets (and the cash it contains) remain safe even if their phone (or SIM card) is lost or stolen. E-Value is securely held on our platform, while the cash equivalent is kept with our partner Bank(s). In the event of a loss, users should reach out to our Contact Centre immediately via our toll-free number (0800-422-422) to have their Wallets blocked to prevent any unauthorized debits. Once their Mobile Network Operator restores their line (they must follow the required procedures), they can contact us to have their G-Money Wallet reactivated and made available to use.
- How does one keep one’s G-Money Wallet secure?
Follow the issued rules and guidelines, take note of all our security notifications via SMS and social media, and observe general good practice and etiquette when it comes to finances. Ultimately, it is critically important that users keep their G-Money PINs private and confidential! G-Money will never ask users to divulge or give-out their PINs.
- Can a customer use his / her G-Money Wallet outside Ghana?
Yes, as long as he / she has already registered and is an active user. To use our USSD service abroad, users will require international roaming to be activated on their mobile phone. To use our Mobile App, users will need access to a WiFi or some other internet connectivity service.
- Can users send money from their G-Money Wallet to other mobile money wallets in Ghana?
Yes! That is one of the key services we offer. G-Money is plugged into Ghana’s financial ecosystem via GHIPSS. Users can therefore send money to all wallets and accounts of participating financial institutions (that is, Banks, Savings & Loans, Fintechs, PSPs etc) , including GCB, Absa, Ecobank, MTN MoMo, AT Money, GhanaPay and many more.
- Can one withdraw cash (ie cashout) from ATMs?
Yes. At the moment, apart from the usual cashout at Agents, G-Money users can withdraw cash from all GCB ATMs. To do this, a user must first generate an ATM voucher from using either our App or USSD channel. The voucher can then be redeemed on any GCB ATM by following the issued instructions / guidance. G-Money users can also withdraw cash at all GCB Branches.
- Can a user buy airtime and data for friends and relatives on G-Money?
Yes. Customers can buy airtime and data for themselves, as well as for others (relatives, friends, and associates). Simply follow the relevant prompts (ie select menu item 3) on our USSD channel or use the appropriate menu button on our App. Users can also pay bills such as water, electricity, DSTV, to name a few, using our App.
- Should an individual have an account with GCB to sign on to G-Money?
No, not at all. G-Money is a separate, standalone service which can be used by any individual who has a mobile number (on any Network) and a Ghana Card. Interested prospects can register on G-Money via our App or by visiting any GCB Branch for assistance.
- Can a G-Money user transfer money from his / her bank account to his / her Wallet?
Yes! G-Money is plugged into Ghana’s financial ecosystem (via GHIPSS). Users can move money from any bank account or any other wallet (eg MoMo) into their G-Money Wallet. Customers with GCB accounts can also link their accounts with their G-Money Wallets to facilitate free transfers between the two.
- How does one link his / her GCB Bank account to his / her G-Money wallet?
It’s quite straightforward. This is done by simply following the steps below:
- Dial *488#
- Select ‘Financial Services’
- Select ‘Bank Services’
- Select ‘Link Account’
- Select ‘GCB Bank’
- Enter Account Name
- Enter Account Number
- Confirm
- Does one need to have a minimum amount on a G-Money Wallet?
No. We don’t enforce a minimum amount. We do, however, encourage our users to maintain a healthy balance. This gives them a useful and available amount of cash for alternative purposes, anytime and anywhere. It also ensures that a decent amount of interest can be earned (based on the Bank of Ghana’s directive on how much interest is to be paid to DEMI Wallets). It is important to note that Wallets are subject to daily and monthly transfer limits (as directed by the Bank of Ghana).
- Is there any interest earned on money kept on G-Money Wallets?
Yes. The Bank of Ghana has directed that all Banks pay an interest of 4%pa on Wallet balances. 90% of this amount is to be paid to wallet-holders on a quarterly basis.
- Are there any service maintenance charges levied on G-Money Wallets?
No. As a Digital Wallet Provider, we generally only apply our highly competitive fees when users perform certain transactions. The Wallet can even be used as an effective savings account.
- Are fees charged for transfers between a G-Money Wallet and a linked GCB Account?
No! For the foreseeable future, moving money between (to and from) linked GCB Accounts and the corresponding G-Money wallet is absolutely free.
- How does one update one’s Customer Profile?
Users are able to make some updates (e.g. address) via our Mobile App. Users may also visit our Office (those are conveniently situated) or their nearest GCB Branch, or call our Contact Centre (0800-422-422) for assistance. Indeed, we encourage you to keep your profile / information up to date to enable us to better serve you.
- How can one increase the Wallet limits?
There are 3 user profile tiers, each with certain enforced limits. The highest tier, which requires full KYC, allows higher transactions. To increase Wallet limits, users are required to request a tier upgrade / enhancement. A request can be sent to us via support@gmfs.africa, with a national utility bill and a copy of the Ghana Card attached. Requests may also be made via our Contact Centre (0800-422-422).
- Can one get a statement of transactions for the G-Money Wallet?
Yes. A mini statement is available via the USSD channel, while a screen showing recent transactions can be viewed on the G-Money App. For more substantial or lengthy statements, kindly reach out to us via support@gmfs.africa, with your Ghana Card number, your mobile number, and the period required. We reserve the right to validate your identity before executing the request.
- How does one register as an Agent?
Please reach out to us on support@gmfs.africa for assistance with this.
- How can a user resolve a forgotten USSD PIN?
Users who have forgotten their USSD PINs can call our Contact Centre on 0800-422-422 or email us at support@gmfs.africa for assistance.
- How can a user change his / her USSD PIN?
Users can change their PINs by following the steps below:
- Dial *488#
- Select ‘My Account’
- Select ‘Change PIN’
- Enter Old PIN
- Enter New PIN
- Confirm New PIN