Banks Dropping 3% Foreign Exchange Withdrawal Fee
Some commercial banks in Ghana have begun reversing the controversial 3 percent charge on foreign exchange (FX) cash withdrawals as a relief for customers who have long opposed the levy.
Fidelity Bank is among the first to officially scrap the fee.
The bank announced that effective Monday, November 10, 2025, it has removed the 3 percent over-the-counter withdrawal charge on all FX cash withdrawals made against foreign currency purchased from the bank.
The move signals a growing effort within the banking industry to ease costs for customers and improve transparency in forex operations.
The 3 percent charge was originally introduced to offset cash handling and operational costs.
However, it has faced persistent criticism from individuals and businesses who say it increased the already high cost of forex transactions at a time when foreign currency demand has been volatile.
The decision by Fidelity Bank may trigger similar policy reviews across the sector as banks respond to customer feedback and regulatory expectations.
The latest development forms part of a broader push toward improving customer experience within Ghana’s financial services sector, especially in areas involving foreign exchange access and pricing.
