Bank of Ghana Issues Revised Dud Cheques Notice – 2026: 10% Penalty For First Offence, 3-Year Ban For Third Offence

The Bank of Ghana (BoG) has released its Financial Literacy – Revised Dud Cheques Notice for 2026, tightening sanctions on customers who issue cheques without sufficient funds in their accounts.

According to the notice published by the Central Bank, a dud cheque is defined as “a cheque drawn on an account by a customer for which there are insufficient funds to pay the amount specified on the cheque.”

When this happens, the Bank will reject the cheque, return it unpaid, and impose penalties as directed by the Bank of Ghana. The account holder may also face legal action.

The revised notice outlines a graduated penalty regime based on how many times a customer issues a dud cheque within one year of the first offence.

First Offence: 10% Penalty

Per BoG regulations, if you issue a dud cheque for the first time, your bank shall levy a penalty of 10% of the face value of the cheque and issue a Warning Notification outlining the consequences of repeating the offence.

Additionally, your bank shall report the offence to the Credit Reference Bureaus and the Bank of Ghana.

Second Offence: 15% Penalty

If you issue a dud cheque for a second time within one year of the first offence, your bank shall impose a levy of 15% of the face value of the cheque and issue another Warning Notification.

As with the first offence, the bank will also report the offence to the Credit Reference Bureaus and the Bank of Ghana.

Third Offence: 20% Penalty, 3-Year Ban and Credit Blacklisting

The harshest sanction applies on the third offence.

If you issue a dud cheque for a third time within one year of the first offence, your bank shall impose a levy of 20% of the face value of the cheque.

Additionally, your bank shall report the offence to the Credit Bureaus and the Bank of Ghana.

“The Bank of Ghana shall ban you from issuing cheques for at least three years and, from accessing new credit facilities from the banking system for one year. Additionally, the Bank of Ghana shall notify all banks and Specialised Deposit-Taking Institutions (SDIs) of the ban,” the notice states.

Further Sanctions: Cheque Books Recalled

Upon receipt of notification of the ban, your bank shall notify you of the ban within five working days, recall all unused cheque books, and shall not issue any new cheque books to you until the ban is lifted.

Failure to Return Cheque Books: You Could Be Banned From Operating Any Current Account

The BoG has also warned that if you fail to return unused cheque books within ten working days of notification, your bank will report the matter to the Bank of Ghana.

“The Bank of Ghana may ban you from operating any current account, and your name shall be added to the Central Bank’s Directory of High-Risk Cheque Issuers.”

Your Credit Score Will Be Affected

In its financial literacy campaign, the Central Bank is cautioning the public that adverse reports to the credit reference bureaus may tarnish creditworthiness.

“Please note that the adverse report to the credit reference bureaus may tarnish your creditworthiness and make access to credit difficult and expensive for you in the future. Avoid issuing dud cheques,” BoG warned.

The consequences, according to BoG, include a poor credit score, higher borrowing costs, and limited access to funds.

How To Avoid Issuing A Dud Cheque

To avoid falling foul of the law, the Bank of Ghana advises customers to:

– Keep sufficient funds in your account to cover the cheque
– Know your account balance before issuing a cheque
– Consider any pending transactions or payments that may affect your balance
– Do not issue a cheque based on funds you expect to receive later unless you are certain the funds will be available in time
– Keep track of all cheques you have issued and their expected presentation dates
– If you realise you may not have sufficient funds, contact your bank promptly for guidance

The Bank says a little planning can save you the financial and legal consequences of issuing a dud cheque.

For any enquiries, the public is advised to contact the BoG Complaints Office on 0593974486 via call or WhatsApp, or email complaints.office@bog.gov.gh, or visit the 4th Floor, Urban Block, The Bank Square, Bank of Ghana, Accra.

More details are available at www.bog.gov.gh