The Bank of Sierra Leone has announced the launch of the National Payment Switch, a major step towards enhancing financial inclusion and modernising the country’s payment system.
As of 29th April 2023, customers with cards issued by six commercial banks, including Ecobank, Guaranty Trust Bank, Rokel Commercial Bank, Sierra Leone Commercial Bank, Union Trust Bank, and United Bank for Africa, can use those cards on the Automated Teller Machine (ATM) of any of the other banks listed.
In addition, customers can also use Point of Sale (POS) terminals operated by Guaranty Trust Bank and Ecobank.
This new system will improve access to financial services, making it easier for people to conduct transactions across different banks, without the need for multiple cards or accounts. It will also reduce the reliance on cash transactions, making payments more secure and convenient for customers.
The National Payment Switch will be officially launched by the President of the Republic of Sierra Leone, Julius Maada Bio, on Wednesday 3rd May 2023, at 9:30am, at the Bank of Sierra Leone Staff Recreation Complex, Kingtom, Freetown.