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Traders Angry With GCB For Refusing Coins Deposit
 
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28-Oct-2011  
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Some traders in the Offinso Municipality in the Ashanti Region are angry with the Ghana Commercial Bank (GCB) for refusing to accept coins as deposits.

They complain the bank has adopted a posture of deciding when to take coins, informing them that it is not a legal tender.

Kwasi Sedor with K-Acheampong Enterprise told Luv Fm he had been in a long queue to be served, but two bank tellers turned him away because the sum of money he was depositing included coins.

He was paying in Gh5,550, which included coins totaling Gh550. The bank however refused to accept the coins, which were in 50pesewas and Gh1.00 denominations. According to Kwasi, complaints to bank officials yielded no results.

The accountant told us point blank that the coins is not a legal tender, so theyll take it if they want, they can refuse it if they want but that day they were not taking our coins, and they didnt take it, he said.

Kwasi is worried at the persistent practice, saying the traders are not enthused because they regularly receive coins from the bank when they are withdrawing cash.

He claims to have lost business as a result of the act because the person we were paying the money to has actually ceased to supply us stock because we have breached [the] contract with him.

Bank officials have admitted turning away some clients depositing coins, explaining there are limitations to accepting coins as legal tender.
 
 
 
Source: Myjoyonline.com
 
 

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