Issuing bounced cheques could attract 20% penalty, 3-year ban – BoG explains

First dud cheque: 10% penalty, warning and report to the Bank of Ghana and Credit Reference Bureaus.

The Bank of Ghana has warned bank customers about the consequences of issuing dud cheques, including penalties of up to 20%, a three-year cheque ban and restrictions on new credit.

A dud cheque Another warning notification must also be issued, while the offence is again reported to the Credit Reference Bureaus and the Bank of Ghana.