How To Open Republic Bank (Ghana) Plc Account In Ghana

By | January 15, 2023
How To Open Republic Bank (Ghana) Plc Account In Ghana

About Republic Bank (Ghana) PLC In Ghana

Republic Bank Ghana Limited is a commercial bank in Ghana. It is one of the commercial banks licensed by the Bank of Ghana, the central bank and national banking regulator.

The headquarters of the bank are located at 48A, Sixth Avenue, North Ridge, Accra, Ghana. As of March 2020, Republic Bank was a medium-sized financial services provider in Ghana, with total assets valued at GHS:3.377 billion (US$586.5 million) and shareholders’ equity valued at GHS:574,616,000 (approximately US$99.8 million).

Republic Bank Ghana Plc is a component and subsidiary of the Republic Bank Group, with headquarters in Trinidad and Tobago, with banking subsidiaries in Barbados, Cayman Islands, Ghana, Grenada, Guyana, Suriname and Trinidad and Tobago. As of 31 January, the group’s holding company, Republic Financial Holdings Limited, had total assets of US$98.4 billion.

The bank was incorporated on 7 May 1990 as a private limited liability company. It was first licensed as a mortgage financing institution. It commenced business on 2 December 1991. On 1 August 1994, Bank of Ghana licensed the company, then called Housing Finance Company Ghana Limited, as a non-bank financial institution. Universal banking status was received on 17 November 2003, from Bank of Ghana.

Types Of Republic Bank Account In Ghana

Savings Account

This account is available to individuals 18-years and older and offers a secure and attractive method of saving funds at a competitive rate.

Cheque And Save

This account is available to customers 18-years and older and offers a secure, attractive method of saving funds at a competitive rate, while at the same time allowing for immediate access to funds via our in-house cheque clearance system.

Current Account

A convenient and flexible medium to make and receive payments. The account can be opened in individual or joint names.

Diaspora Account

This account is targeted at Ghanaians resident abroad. It affords the customer the opportunity to open and operate an account from anywhere in the world and ensures that the customer has access to unique products and services tailored to meet their banking needs. The types of account that can be opened under the Republic Diaspora account are Savings Account, Current Account and Fixed Deposit Account.

Children’s Account

A savings account to nurture savings behavior in minors up to the age of 17 and provides guardians with a financial management tool

Foreign Exchange Account (FEA)

Foreign exchange current account facilitates smooth business transactions in the major trading currencies

Foreign Currency Account (FCA)

Foreign currency accounts are available to clients who regularly receive remittances from offshore sources. Funding for this account is restricted to offshore remittances and offshore cheques.

Investment (Treasury) Products The investment or treasury account consists of the following:

Call Accounts

Fixed Deposits

Treasury Bill Investment Services

Sell Buy Back Agreement (Sbba)

Securities Backed Investment (Sbi)

Outright Bond Sale/Purchase

Requirements To Open  Republic Bank PLC (Ghana) Account In Ghana

Account opening form duly filled

2 passport-sized pictures, (name & signature on reverse)

A valid national ID  (Ghana Card)& Tin certificate

Residence permit & non-citizen card (where applicable)

Employer introductory letter (where applicable)

Utility bill (not older than six months)

Mandatory initial deposit (Any amount ranging from GHC 20 and above)

Charges Involved In Opening Republic Bank (Ghana) Limited Account In Ghana

In Republic, the bank does not charge her client for opening of bank accounts with them. But after processing of the opening of the bank account is completed, the customer is expected to deposit a minimum balance in the account he/she created. This minimum amount ranges from GHC 20 to GHC 200 depending on the account.

How To Open A Bank Account With Republic Bank (Ghana) Limited In Ghana

Walk into any branch of Republic Bank  with document listed above like utility bills, passport photo Ghana Card Id and talk to the customer service that you want to open an account. The customer service personnel will then refer you to the designated bank official to help you open an account of your choice.

Source: ICT Catalogue

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