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(1) Electronic money accounts shall be categorised, using a risk- based approach to Know Your Customer as set out in the First Schedule.

(2) The account balance and aggregate transaction of an electronic money account holder shall not exceed the limits stipulated by the Bank of Ghana for the account type.

(3) An electronic money issuer shall ensure that the systems of the electronic money issuer are able to effectively enforce the permissible transaction limits.

(4) An electronic money issuer shall permit an over-the-counter transaction that does not involve the use of a customer electronic money account subject to the transaction limits set out in the Second Schedule.

(5) An electronic money issuer who fails to comply with the transaction limit specified in this section, is liable to pay to the Bank of Ghana an administrative penalty of five thousand penalty units.