Further sanctions for issuing dud cheques

Story by: Regina Bless

The Bank of Ghana has outlined further sanctions that apply to customers who are banned for issuing dud cheques.

Following notification of the sanction, the customer’s bank is required to recall all unused cheque books and stop issuing new cheque books until the applicable sanction has been lifted.

The measure forms part of efforts to promote responsible cheque use and strengthen confidence in the banking system.

Customers are therefore encouraged to ensure that sufficient funds are available in their accounts before issuing cheques to avoid sanctions and the inconvenience associated with a cheque-book ban.