A new directive by the Bank of Ghana (BoG) has introduced new mobile money transaction and wallet limits.

Customers with daily transaction limits of GH¢ 1,000, GH¢ 5,000, and GH¢ 10,000 have had their limits increased to GH¢ 2,000, GH¢ 10,000, and GH¢ 15,000, respectively.

Additionally, account balance limits of GH¢ 2,000, GH¢ 15,000, and GH¢ 30,000 have been increased to GH¢ 3,000, GH¢ 30,000, and GH¢ 50,000 respectively.

"With these improved transaction limits, our customers will be able to transfer much more money without incurring extra charges and also keep more money in their digital wallets securely," David Umoh, the Director of the Central Business Unit at Vodafone Ghana, said in a statement issued by the company in Accra yesterday.

He encouraged users with dormant or inactive accounts to reactivate their accounts to take advantage of the new wallet limits.

To help lessen the financial burden on its customers brought on by the COVID-19 pandemic, Vodafone waived all charges on any Vodafone Cash transfers in July 2020.

The telco has continued to waive all transfer fees to any network till date, even after the implementation of Ghana's electronic transfer levy.

Mr Umoh further explained that a key feature that set Vodafone Cash apart from other mobile money wallets was its commitment to customer safety.

In recent times, Vodafone has improved its safety features by including a simple self-reversal process for customers who accidentally send money to the wrong wallet.

"With this feature, customers can easily and quickly undo a transaction without having to call customer service," he added.