How to Open An Account With Ghana Commercial Bank
Maybe you have been wondering how to open an account with Ghana Commercial Bank. We have put together a complete guide on how to open savings and current accounts with Ghana Commercial Bank (GCB).
Before you open an account, you need to know the specifics, benefits, and requirements for that account. On that note, we have put together the different types of account a customer can open at any branch of Ghana Commercial Bank.
Contents
Ghana Commercial Bank Savings Account
Opening a GCB Savings Account helps you to save for yourself or your family’s future. GCB Savings Account can be opened by any individual, entrepreneur, society, club, trader, business or corporation.
Key Account Benefits
- Securely save for your future while maintaining easy access to your funds.
- Earn more on your money with our attractive and competitive interest rates (visit our website or ask in-branch for latest details).
- Maintain easy and convenient access to your funds from any GCB branch.
- Free Readycash ATM card that can be used at all ATMs in Ghana.
- Free access to internet and mobile banking.
GCB Savings Account Opening Requirements
To open a savings account, you must present the following documents at any branch of Ghana Commerical bank.
- One passport-sized photograph.
- Valid photo identity (Passport /Driver’s License / Voter ID).
- Proof of residential and postal address (any of the following):
- Utility bill
- Tenancy agreement
- Employer’s reference letter
- Initial minimum balance to be maintained at all times.
Ghana Commercial Bank Link2Home Account
The GCB Link2Home is an account designed for Ghanaians living and resident abroad. If you live abroad and wish to maintain financial links with Ghana, this is the account for you. You can open, control and maintain your Ghana bank accounts wherever you live in the world, with a Link2Home Account from GCB.
Key Account Benefits
- Ghanaians resident abroad can maintain a financial link back home.
- Accounts can be opened in Cedis.
- Accounts can also be opened in US Dollar, GBP or Euro currency, which can be operated as either a Foreign Currency or Foreign Exchange account.
- Customers have complete access to their Cedi account from all GCB branches and ATMs using GCB MasterCard or Visa card locally or abroad.
- Applicants can open Savings, Current and Trust Accounts.
- A customer can open more than one type of account eg, Cedis & USD Accounts,
- Cedi and Foreign Investment options.
GCB Link2Home Account Opening Requirements
All requirements for Current Account and Savings Account opening for individuals apply to GCB Link2Home Account.
Other Benefits of the Link2Home Account
- Access to internet banking.
- You can issue standing instructions for regular payment of insurance premiums, mortgages, school fees etc.
- Advisory service on high-interest yielding investment products.
- e-statements and e-alerts.
Who Can Apply for Link2Home Account?
- Link2Home Accounts can only be opened by Ghanaians resident abroad.
- An Individual Account, a Joint Account or a Trust Account can be opened for either all parties being Ghanaians or one being a Ghanaian.
- Accounts can be opened as a Current Account or as a Cedi Savings Account.
Ghana Commercial Bank KidiStar Account
The KidiStar account is a special type of savings account, that is made for children.
GCB KidiStar Account
- A Savings Account that can only be opened by parents and guardians in trust for their children or wards, to save towards the child’s personal and educational upkeep.
- Gives the beneficiary a head start in life.
- Helps cultivate a healthy savings habit in children and young adults.
- Access to credit facility for the child’s education, ie. the ability to use balance on account as collateral for a loan.
- This product is a trust account for a child only.
GCB KidiStar Account Opening Requirements
Same requirements as that for individuals except that the Birth Certificate of the beneficiary should be included in the requirements.
GCB Trust Account
The Trust Account is a special type of Savings Account managed by an adult (sui juris) for and on behalf of another person (not limited to minors).
Regular deposits into the account are encouraged, to steadily grow the amount saved. The account is built up as savings for the beneficiary.
Customers are provided with a Savings ID card. The full Trust may be accessed by the beneficiary after a set date.
GCB Trust Account Opening Requirements
Same requirements as that for individuals except that a Trust Deed should be included in the requirements.
Ghana Commercial Bank Students Account
The Students Account is a special type of savings account opened for and by students in all educational institutions.
Features of the Student Account
- It is a current account
- No over-the-counter transactions
- Transactions are purely based on ATM, POS, Mobile Banking
- No cheque book issued
- Access to other e-products
- No minimum balance required
- Minimal Initial Deposit
- Non-interest bearing account
Benefits of the GCB Students Account
- Cultivate the habit of savings
- Helps to manage funds
- Easy access to funds through alternate channels
- Free ReadyCash cards, Free Mobile Banking, Free Internet Banking
- No e-service charge
GCB Students Account Opening Requirements
To open a student account, the following documents must be submitted at any branch of Ghana Commercial bank.
- Valid photo identity (Passport /Driver’s License / Voter ID).
- Proof of residential and postal address (any of the following):
- Utility bill
- Tenancy agreement
- Employer’s reference letter
- Initial minimum balance to be maintained at all times.
Ghana Commercial Bank Current Account
The GCB Current Account gives you maximum flexibility with instant access to your funds. It is designed to provide total convenience, the GCB Current Account is an easy everyday account suitable for individuals including professionals, societies, clubs and sole proprietors.
Key Account Benefits
- Convenient for frequent personal and business transactions.
- Free ATM card for individuals.
- Convenient access to cash.
- Monthly statement of account (upon request).
- Instant mini-statements available from ATMs.
- Free access to e-banking channels, including internet banking and mobile banking.
- Account holder is able to apply for credit facilities.
- Regular payments can be set up through standing instructions and direct debits.
GCB Current Account Opening Requirements for Individuals
To Open a Current Account, you must present the following documents at any branch of Ghana commercial Bank nearest to you.
- Two passport-sized photograph.
- Valid photo identity (Passport / Driver’s License / Voter ID / SSNIT Biometric card ).
- Proof of residential and postal addresses (a copy of any of the following):
- Utility bill (water or electricity)
- Tenancy agreement
- Employer’s reference letter
- Initial deposit (amount to be determined by Bank from time to time)
Ghana Commercial Bank Foreign Currency Account
The GCB Foreign Currency Account (FCA) is a special type of current account opened for individuals and entities who normally transact in foreign currencies.
Features of the Foreign Currency Account
- FCAs are operated in three (3) different currencies namely: British Pound (£) American Dollar ($) Euro(€)
- The FCA is a current account that does not accept cash deposits over the counter
- The account may be credited with transfers/cheques in foreign currency from abroad or transfers from other FCAs.
- Balances on the FCA are freely transferable to any account at the existing exchange rate.
- The account could be debited for payments, transfers to other foreign accounts, and for purchases of external currencies.
- Withdrawals can be done in local currency (Cedis) at the prevailing exchange rate or in the currency of the account depending on availability.
- Withdrawals in the foreign currency will attract a specified percentage of the face value of the amount.
Benefits of the Foreign Currency Account
- Helps to facilitate foreign business transactions.
- Interest is paid on the account if the balance is above a specified threshold.
- Access to account information at all branch network and other platforms.
Ghana Commercial Bank Foreign Exchange Account
The GCB Foreign Exchange Account (FEA) also known as Forex Account is a special type of current account opened for individuals and companies with foreign currency funds which are locally generated.
Features of the Foreign Exchange Account
- Can be operated in the three (3) different currencies; British Pound (£), American Dollar ($),Euro(€)
- The account is fed mainly by locally generated foreign currencies.
- These foreign currencies can be paid over the counter into the account.
- Balances on these accounts cannot be transferred without supporting documents.
- This account does not attract interest irrespective of the balance.
- Withdrawals (subject to availability) are made in the same foreign currency in which the account was opened or in cedis.
- Withdrawals do not attract any fee irrespective of the currency in which withdrawals are made.
Benefits of the Foreign Exchange Account
- Customers can pay in cash (foreign currency) over the counter into the account.
- Customers receive their money in the foreign currency in which the account is opened.
- Customers can also opt for withdrawals in the local currency at the prevailing exchange rate.
Ghana Commerical Bank Salary Account
The Salary Account is a current account opened solely for employees to receive their salaries.
Features of the Salary Account
- Targeted at all salaried workers
- Operates as a current account
- Initial deposit of GHS50.00
- Access to credit facilities
- Attracts a monthly flat fee
- No COT charged
- No interest earned on the account
- Access to E-Banking services
Benefits of the Salary Account
- Limitless withdrawals
- Access to credit facilities
- Convenient account operations
- No minimum balance
- No COT
- Wider channels to access account
- Access to E-Banking products
How to Open An Account With Ghana Commerical Bank
As earlier mentioned, you need to know the types of accounts available at the Ghana Commercial Bank and choose the one that best suit you.
- Download the GCB Account Opening Form online
- Fill the form appropriately and sign where applicable
- Attach two recent passport photographs with your names on the reverse side
- Attach your means of identification i.e. Drivers license, international passport, voters ID, NIA card or NHIS card.
- Initial deposit i.e the amount of money you want to open your account with.
- Proof of residential and postal addresses (a copy of any of the following):
- Utility bill (water or electricity)
- Tenancy agreement
- Employer’s reference letter
- Residence permit where applicable
- Attach every document that applies to your specific account.
- Visit any branch of Ghana Commerical Bank nearest to you to submit your application.
