CUTS International Accra, a think tank, is urging the Bank of Ghana to tackle the rising issue of excessive ATM fees that disproportionately affect consumers.

Appiah Kusi Adomako, West Africa Regional Director for CUTS International Accra, has expressed frustration over excessive ATM fees in Ghana, particularly when consumers are forced to use third-party ATMs due to their own bank's machine being out of order or cash-depleted.

According to Adomako, "It's deeply unfair to charge people extra for using another bank's ATM when their own bank's machine is broken or out of cash. Consumers shouldn't pay for problems they didn't create."

A recent study by CUTS found that 71% of respondents encountered ATM-related issues, including technical glitches and cash shortages.

The study also revealed that many consumers are not informed of additional fees before completing transactions, violating the Bank of Ghana's Consumer Protection Directives.

He emphasised the need for transparency in fee disclosures, stating, "Banks have a responsibility to be upfront about costs. Every Ghanaian deserves to know exactly what they're being charged for when they use an ATM."

He also noted that banks benefit from ATMs through operational savings but rarely pass these savings on to consumers.

DR/MA