Act 930 • Bank of Ghana Regulated
1. Introduction
These Terms of Service ("Terms") govern your use of the products, services and website of Kwaso Community Bank ("the Bank", "we", "us"). By opening an account, using our services or accessing our website, you agree to be bound by these Terms.
Kwaso Community Bank is licensed under the Banks and Specialised Deposit-Taking Institutions Act, 2016 (Act 930) and supervised by the Bank of Ghana.
2. Account Opening & Eligibility
- You must be at least 18 years old (or have a parent/guardian for minor accounts) and provide valid identification as required by KYC regulations.
- All accounts are subject to satisfactory completion of our Customer Due Diligence (CDD) process.
- We reserve the right to decline any application without providing reasons.
- You are responsible for maintaining accurate and up-to-date information on your account.
3. Account Operations
- You must maintain the minimum balance required for your account type.
- Deposits and withdrawals are subject to our published operating hours and transaction limits.
- We may place holds on deposits in accordance with our funds availability policy.
- Dormant accounts (no activity for 12+ months) may attract reactivation fees as published in our fee schedule.
4. Loans & Credit Facilities
- All loan applications are subject to credit assessment and approval at the Bank's discretion.
- Interest rates, repayment terms and collateral requirements are specified in individual loan agreements.
- Failure to repay loans on time may result in penalties, legal action and reporting to Credit Reference Bureaus.
- The Bank reserves the right to set off outstanding loan balances against your deposit accounts after due notice.
5. Digital Banking Services
- You are responsible for maintaining the confidentiality of your login credentials, PINs and OTPs.
- Transactions initiated through authenticated digital channels are deemed authorized by you.
- We are not liable for losses resulting from unauthorized access due to your negligence in protecting your credentials.
- Digital services may be temporarily unavailable due to maintenance or system upgrades.
6. Fees & Charges
All applicable fees and charges are published on our Rates & Fees page and displayed at our branches. We will notify you of any changes to fees at least 30 days in advance.
7. Privacy & Data Protection
Your personal data is handled in accordance with our Privacy Policy and the Data Protection Act, 2012 (Act 843). By using our services, you consent to the collection, processing and storage of your data as described therein.
8. Limitation of Liability
- The Bank shall not be liable for losses arising from circumstances beyond our reasonable control, including but not limited to natural disasters, government actions, system failures at third-party providers, or network outages.
- Our maximum liability for any claim shall not exceed the fees paid by you in the 12 months preceding the claim.
- We do not guarantee the uninterrupted availability of digital banking services.
9. Account Closure
- You may close your account at any time by visiting a branch with valid identification.
- Outstanding loan balances must be settled before account closure.
- We may close or suspend your account if we reasonably suspect fraud, money laundering, or breach of these Terms.
10. Dispute Resolution
Any disputes should first be raised through our internal complaints process (see our Customer Charter). If unresolved, you may escalate to the Bank of Ghana Market Conduct Office. These Terms are governed by the laws of the Republic of Ghana.
11. Amendments
We reserve the right to amend these Terms at any time. Material changes will be communicated via our website, SMS, or branch notices at least 30 days before taking effect. Continued use of our services after changes constitutes acceptance.
12. Contact
For questions about these Terms:
Last Updated: March 2026
