7 Best Dollar Accounts in Ghana (2023 Guide)

Having a dollar account in Ghana can be a smart financial move. With the ability to save, transact, and invest in one of the world’s most stable currencies, the US dollar, you can protect your wealth from currency fluctuations and access a host of international financial opportunities.

In this comprehensive guide, we will explore the best dollar accounts in Ghana for 2023, their benefits, how to save in dollars, and what it means to have a dollar account. We will also address the all-important question: Can you withdraw dollars from your dollar account in Ghana?

Which Bank in Ghana Operates Dollar Accounts?

Several banks in Ghana offer dollar accounts to cater to the needs of their customers who require access to foreign currency. The top banks in Ghana offering dollar accounts include:

  1. Standard Chartered Bank
  2. Ecobank Ghana
  3. GCB Bank
  4. Fidelity Bank Ghana
  5. Absa Bank Ghana
  6. Zenith Bank Ghana
  7. CalBank

7 Best Dollar Accounts in Ghana

Several reputable banks in Ghana offer dollar accounts, each with its unique features and benefits. The seven best dollar accounts in Ghana for 2023, based on customer satisfaction, account features, and service quality, are:

1. Standard Chartered Bank Dollar Savings Account

  • Minimum opening balance: $100
  • Competitive interest rates
  • Online banking and mobile app access
  • Easy transfer of funds in various currencies

2. Ecobank US Dollar Domiciliary Account

  • Minimum opening balance: $100
  • No monthly maintenance fee
  • Access to a wide network of ATMs and branches

3. GCB Dollar Personal Current Account

  • Minimum opening balance: $50
  • Multicurrency account
  • Competitive foreign exchange rates

4. Fidelity Bank Dollar Account

  • Minimum opening balance: $100
  • Attractive interest rates
  • Access to e-banking services

5. Barclays Dollar Account

  • Minimum opening balance: $100
  • Multicurrency account
  • International debit card for easy transactions

6. Zenith Bank Domiciliary Account:

  • Minimum opening balance: $100
  • No limit on withdrawal amount
  • Online and mobile banking services

7. Republic Bank US Dollar Savings Account

  • Minimum opening balance: $100
  • Competitive interest rates
  • Access to e-banking and SMS alerts

The Benefits of Opening a Dollar Account in Ghana

Opening a dollar account in Ghana can offer various advantages, making it a smart financial move. Here are some key benefits:

  1. Diversification: Diversifying your savings by holding a portion in US dollars can help protect your wealth against fluctuations in the local currency.
  2. International Transactions: If you engage in international trade or frequently make transactions in US dollars, having a dollar account simplifies the process and saves you from conversion fees.
  3. Investment Opportunities: Dollar accounts make it easier to invest in international markets and assets, allowing you to tap into global opportunities.
  4. Safe Haven: The US dollar is considered a stable and reliable currency, making it a safe haven during times of economic uncertainty.
  5. Hedge Against Inflation: In some cases, holding assets in US dollars can help mitigate the impact of inflation on your savings.

Can I Save in Dollars in Ghana?

Yes, you can save in US dollars in Ghana through a dollar account. Dollar savings offer a secure way to protect your money from currency depreciation while taking advantage of the benefits associated with the greenback.

These accounts typically come with options for both savings and fixed deposits, allowing you to tailor your savings strategy to your financial goals.

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What Does It Mean to Have a Dollar Account in Ghana?

Having a dollar account in Ghana means you hold and transact in US dollars within the country. Here’s what it entails:

  1. Currency Denomination: Dollar accounts are denominated in US dollars, which means your balance, transactions, and interest accrual are in this foreign currency.
  2. Accessibility: You can access your dollar account through online banking, ATMs, or by visiting the bank’s physical branch.
  3. International Transactions: You can receive and send US dollar payments, making it convenient for international business or personal transactions.
  4. Interest Rates: Dollar accounts may offer interest, but the rates are typically lower than local currency accounts due to currency stability.
  5. Minimum Balance: Some banks may require a minimum balance to open and maintain a dollar account.

Can I Withdraw Dollars from My Dollar Account?

Yes, you can withdraw US dollars from your dollar account in Ghana. Dollar accounts provide the flexibility to access your funds in both foreign currency and the local currency (Ghana Cedis) at your convenience.

However, please note that specific regulations and fees might be associated with dollar withdrawals, depending on the bank.


Opening a dollar account in Ghana can be a valuable financial decision, offering diversification, access to international transactions, and a secure way to save in US dollars.

With various banks in Ghana providing dollar account options, you have the flexibility to choose the one that best suits your needs.

Be sure to review the specific terms and conditions of the bank you choose to make an informed choice for your financial future. If you have any more questions or need assistance, don’t hesitate to contact your chosen bank for personalized guidance.


What are the minimum requirements for opening a dollar account in Ghana?

Every bank has different requirements for opening a dollar account in Ghana. However, here are some of the general requirements that you may need to meet:

  • Be a Ghanaian citizen or a resident of Ghana: This is a requirement for most banks, as they want to ensure that they are able to verify your identity and residency status.
  • Have a valid passport or national ID card: You will need to provide a copy of your passport or national ID card to the bank when you open your account.
  • Provide a utility bill: This is to prove your address. You may need to provide a copy of a recent utility bill, such as a water bill or electricity bill.
  • Complete an account opening form: You will need to complete an account opening form, which will provide the bank with your personal information and details about your financial situation.
  • Make a minimum deposit: Most banks require a minimum deposit to open a dollar account. This typically ranges from $100 to $500.
  • Meet income requirements: Some banks may also have income requirements for opening a dollar account. This means that you may need to prove that you have a steady income

Can I transfer funds between my dollar account and my local currency account?

Yes, most banks allow for fund transfers between your dollar account and your local currency account within the same bank.

Are dollar accounts in Ghana insured?

Yes, dollar accounts in Ghana are insured by the Ghana Deposit Protection Corporation (GDPC). GDPC is a government agency that protects depositors against losses in the event of a bank failure.

The GDPC insures all deposits held by licensed banks in Ghana, including dollar deposits. The maximum amount of insurance per depositor is GH¢50,000 or the equivalent in other currencies.

Can I open a dollar account online in Ghana?

Yes, many banks offer online account opening services for dollar accounts in Ghana, making the process convenient and accessible.

Is there a limit on how much I can deposit into a dollar account in Ghana?

The maximum deposit limit varies by bank and the type of dollar account. Some accounts have higher limits than others, so it’s advisable to inquire with your chosen bank.

Are there fees associated with maintaining a dollar account in Ghana?

Yes, dollar accounts may come with maintenance fees, transaction fees, and other charges. It’s important to review the fee structure of your chosen bank to understand the costs involved.