ISSUANCE OF DUD CHEQUES – DIRECTIVE FROM BANK OF GHANA

Please be informed that the Bank of Ghana's Revised Notice BG/GOV/SEC/2021/03 on the issuance of dud cheques which is a punishable offence under section 313(A) of the Criminal Offences Act 1960 (Act 29) as amended, has taken immediate effect.

A “Dud” cheque is when you issue a cheque whose amount is more than the actual funds in your account.

Under the new directive:

banks are required to issue a warning notification to customers who issue dud cheques for the first time.
where a customer issues a second dud cheque within three (3) years of the first offence, a second warning notification shall be issued, and a report of the customer's conduct made to the Credit Reference Bureau and the Bank of Ghana.
if same customer issues a third dud cheque within three (3) years of the first offence, the Bank of Ghana shall ban them from issuing cheques within the country and accessing new credit facilities in the banking system, both for a minimum period of three (3) years. For further details please click here.

In light of the above, we implore you to use the various channels provided by the bank (i.e. Internet Banking, GAPS, Myghpay, *737#, GTWorld, etc.) to check and confirm your account balance before issuing any cheque(s).

Thank you for banking with us.

Corporate Affairs

Guaranty Trust Bank (Ghana) Limited