Ghana Interbank Payment and Settlement System announced the roll out of a new system that allows businesses and individuals to pay via check and have their accounts credited the same day, reports GhanaWeb. GhiPSS wanted to provide a service that would give consumers quicker access to their checks. The initiative followed a successful launch of an Express Check clearing system.
Banks in Ghana will now be able to electronically clear checks. The clearing process will only take a maximum of three days, instead of the previous process, which took about a week or more. The one-day clearing process is made possible through a new special window that allows consumers to request to have the check cleared with express services.