G-Money is GCB’s MoMo business. It is a mobile money platform that facilitates the transfer of funds from one bank account to another or a mobile wallet like MTN or Vodafone MoMo wallet.

• G-Money has lower rate than MTN MoMo and VodafoneCash
• You don’t pay anything to transfer money between your bank and G-Money account

• G-Money works just like MTN, Vodafone, AirtelTigo MoMo. You don’t need any bank account to use it

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Mobile money transfer has now integrated deep into the everyday life of Ghanaians. It is very difficult to find someone who has not used mobile money or benefited from it. 

Whether it’s MTN, Vodafone, or AirtelTigo, billions of transactions in cedis electrify our cable networks annually.

What is Mobile Money?

Mobile money is a service that allows you to use your mobile phone or Personal Digital Assistant (PDAs) to store money in the form of electronic money or value for transactions. It’s a convenient alternative to bank account.

MoMo has taken millions of cedis off the bank desks and this has triggered an inevitable interest in the MoMo business by some of the banks. The first to make an impression is the Ghana Commercial Bank.

G-Money is the brain child of Ghana Commercial Bank. G-Money is short for GCB Money.

In this article, we look at the G-Money, why it matters and why you should be considering moving away from the monopolistic world of big and income-obsessed companies like MTN or at least diversifying into other less costly alternatives like G-Money.

What is the G-Money?

G-Money is GCB’s MoMo business. It is a mobile money platform that facilitates the transfer of funds from one bank account to another or a mobile wallet like MTN or Vodafone MoMo wallet.

(1) G-Money offers a plethora of wonderful and time-saving services.

Practically anything! The tall list of services your G-Money can offer include

• Send money to any mobile wallet (MTN, Vodafone etc) or any bank (GCB, Ecobank, GTB etc)
• Receive money from any mobile wallet or banks
• Cash out money at a G-Money agent just as you would cash out money at an MTN or Vodafone agent. The G-Money is not strictly tied to GCB so it’s practically just another mobile money platform, this time, from a non-communication company but a bank.
• You can pay bills with G-Money. Electricity bills, water bills, online payments, you can name them
• You can create groups, manage group membership, and collect contributions from members for any social or economic cause on G-Money. Yes, that’s how far G-Money has brought us. In other words, your Susu contribution has another layer of cosmetics and efficiency.
• You can easily generate a voucher for yourself or to others to perform transactions on your G-money wallet.
• Bank Services such as depositing or withdrawing from your bank account.

(2)  You can link your GCB account to your G-Money account.  

If you have an account at GCB, then you have no excuse not to use G-Money. You can link your GCB account to your G-Money account and quickly send money to and fro.

This will save you tons of time from joining queues at the bank. This is because transferring money between your GCB account and your G-Money account attracts no fee. Yes, you pay nothing.

To link your GCB account to your G-Money, do the following. 

Step 1: Dial *422# on any network

Step 2: Select Bank Services

Step 3: Select Link Bank Account

Step 4: Select  the bank. This is currently GCB only

Step 5: Enter your account name

Step 6: Enter your account number

Step 7: Confirm your details

(3) G-Money offers a comparatively lower rate than other MoMo services

G-Money has the lowest P2P rate of 50 pesewas which is a flat fee for all transactions below 999.99 cedis. G-money also charges a flat fee of 1 cedi for transactions worth 1,000 cedis and above while other competitors (MTN, Vodafone, AirtelTigo) charge as much as 10 cedis per transaction.

(4)  You can easily opt-in G-Money as a GCB customer. 

If you’re a GCB account holder and using the GCB Mobile Banking service, then you’re few clicks away from activating the G-Money service. 

Step 1: Dial *422# on any network

Step 2: Select GCB Mobile Banking Service

Step 3: Select Other Services

Step 4: Select Opt-in for G-Money

Step 5: Select the ID type you want to use for your registration. Example, Is it a Voter’s ID, National ID etc?

Step 6: Enter the ID number and confirm with your PIN.

You’re done. Start to enjoy G-Money.

(5) You don’t need to change your existing phone number

If you want to use MTN MoMo, you need an MTN phone number. If you want to use Vodafone MoMo, you need a Vodafone number and the same is true for AirtelTigo. 

However, if you want to use G-Money, you don’t need any number of a particular network. As a matter of fact, you don’t even need to have a GCB bank account. 

With G-Money, you use your existing network and phone number.

(6) You can register more than one phone number with G-Money

How does it feel to have your two numbers, MTN and Vodafone, or Vodafone and AirtelTigo connected to your mobile money account such that you can withdraw or send money with each? 

The current competition between MTN and other networks does not allow you to do mobile service on the others canvas. 

With G-Money, you break that monopolistic cycle. Is this not wonderful?

(7) Your money is safe if your SIM or phone gets missing

Just like mobile money services run by the Communication companies like mtn and Vodafone, you don’t have to worry about losing your money in your G-Money wallet if you lose your SIM or phone.

Your transactions are protected by the highest of security.

If your SIM card gets missing, just get it replaced at your mobile service vendor like MTN, Vodafone, AirtelTigo. 

Your G-Money services will be immediately restored to you after registering your SIM with the required details.

However, it’s important to notify G-Money (or GCB) immediately your SIM gets misplaced do that your account can be blocked to prevent any possible theft of money. 

To report about your lost SIM, kindly call 0202111177 or toll free number 0800-422-422

(8) Your money is safe on G-Money

Getting satisfied around a new service can take some time. If this service promises to keep your hard earned money, then we’ll, it may take even a lot of time. 

But with G-Money, high banking security standards are employed to safeguard your money. Your account won’t be hacked and your money won’t be stolen. You’re safe.

Your transactions are protected by the highest of security.

If your SIM card gets missing, just get it replaced at your mobile service vendor like MTN, Vodafone, AirtelTigo. 

Your G-Money services will be immediately restored to you after registering your SIM with the required details.

(9) You don’t need to be a GCB customer

If someone has told you that G-Money belongs to Ghana Broadcasting Bank (GCB), then you probably thought G-Money was meant for only GCB customers. 

Oh no! That isn’t the truth. G-Money is for both customers and non-customers of GCB.

All you need is a phone number of any network. Is that not beautiful? 

It’s like an open source mobile service that irrespective of your network, you can safely access it without hassle.

(10)  G-Money does not charge you for maintaining your G-Money wallet

You don’t have to pay for your G-Money account. It’s like having a personal savings account with no cost. 

Send, receive money and pay bills with ease.

(11)  G-Money can be used outside Ghana

Although the service is the brain child of the Ghana Commercial Bank, G-Money can be used outside Ghana if roaming services are activated on your phone. 

However, international roaming charges will apply.

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