CalBank Review (2026): Is It Right for You?

CalBank PLC is a Ghanaian-owned, Ghana Stock Exchange–listed universal bank licensed by the Bank of Ghana. It is best known for the breadth of its transfer options, its CalPay e-wallet and one of the largest agent networks in the country — and, in 2025, for a recapitalisation that materially changed its financial position. This review covers what the bank offers, what changed, and how to decide whether it fits you.

Who CalBank is

CalBank started life in July 1990 as Continental Acceptances Ltd, a merchant bank, and was granted a universal banking licence in 2004. It trades on the Ghana Stock Exchange under the ticker CAL, which means its audited results are public every year — useful if you like to see a bank's numbers before trusting it with yours.

The 2025 numbers matter here. According to the bank's FY2025 results, a renounceable rights issue and private placement approved at GH¢900 million was oversubscribed, raising about GH¢1.16 billion. The bank reported that this lifted its capital adequacy ratio to 19.8% from a negative 6.4% the year before, and that its non-performing loan ratio fell from 47.5% in 2024 to 17% in 2025. In plain terms: the bank went into 2025 under-capitalised with a heavy bad-loan book, and came out of it recapitalised. That is a positive turn, but a 17% NPL ratio is still high, so it is worth reading the next set of results before parking a large, long-term deposit.

Reach: branches and agents

CalBank runs a network of 38 branches across nine regions and roughly 2,500 CalBank agents across all 16 regions (per its 2025 reporting). The branch count is modest next to GCB or Fidelity, so the agent network is doing the heavy lifting outside the cities. If you live somewhere without a CalBank branch, check that a CalBank agent nearby actually offers the services you need (cash-in, cash-out, account opening) before you commit.

Access and mobile banking

• USSD code: *771# — balance and account-activity checks, transfers and bill payments with no internet needed.
• CalBank App (Android/iOS), free to use.
• Online banking for retail and a separate corporate platform for business customers.

What the app and USSD can do

• Multiple transfer rails: intra-account, inter-account, inter-bank (ACH), and instant transfer via GIP (GhIPSS Instant Pay) for near-real-time bank-to-bank moves.
• MTN Mobile Money integration both ways — send from your CalBank account to your own or any MTN wallet, and pull MTN wallet funds back into CalBank.
• CalPay — an in-app e-wallet that links a Visa/Mastercard, your MoMo number and your CalBank account in one place, with support for offline transactions through the wallet.
• Instant mini-statements and airtime top-up across MTN, AirtelTigo, Telecel, Glo and Expresso.

Accounts and products

CalBank's personal range includes a Current Account, Premium Account, Student Account, FlexiSave, KiddySave for children, a Home Invest Account aimed at people saving towards property, plus loans, a Save & Invest product and bancassurance. On the business side it offers corporate current accounts, business financing, transactional banking, corporate and project finance, a Women's Banking proposition and CalPay for merchants.

Before choosing an account tier, ask for the current tariff guide in writing. The things that vary most between tiers are the monthly maintenance fee, the inter-bank and GIP transfer charges, and whether MoMo transfers are priced per transaction or bundled.

Opening an account: what you'll need

Since 1 July 2022 the Bank of Ghana has required the Ghana Card as the only identification document for transactions at all BoG-licensed institutions. The Bank's revised guidance note issued in late 2025 tightened this further for digital onboarding, which must now include full biometric verification with liveness checks. So whether you open at a branch, at an agent or in the app, expect to present your Ghana Card and to be verified against it. A passport alone will not do for a resident.

Is your money protected?

Yes, up to the statutory limit. Every Bank of Ghana–licensed bank, CalBank included, belongs to the Ghana Deposit Protection Scheme run by the Ghana Deposit Protection Corporation under Act 931. The insured amount is GH¢6,250 per depositor per bank, covering principal and interest; anything above that is claimed from the receiver if a bank fails. The 2025 amendment to the Act requires the limit to be reviewed every two years, so check the current figure in our GDPC explainer before relying on it.

If something goes wrong

Bank of Ghana rules give you a clear path. Lodge the complaint with CalBank first — by phone on 0800 500 500, by email to customercare@calbank.net, or at a branch — and ask for the unique complaint reference number the bank must issue. The bank then has 20 working days to give you a decision (up to 10 more if it tells you in advance that the case is complex). If you get no answer or you disagree with it, you have 20 working days to petition the Bank of Ghana's Financial Stability Department, which must investigate and rule within 20 working days; its decision binds the bank.

Who it suits

CalBank's strength is flexibility of transfer method. If you regularly move money between a bank account, MTN MoMo and cards, CalPay and the app's transfer options cover that ground well in one place, and the agent network makes cash-in and cash-out practical outside Accra and Kumasi.

It suits less well if you want a large branch network for in-person banking, or if you are choosing a home for long-term savings and want the most conservative balance sheet available — in which case compare it against GCB or Standard Chartered too.

Before you open an account

• Confirm current fees, especially for inter-bank and GIP instant transfers.
• Read the latest published results — the 2025 recapitalisation was real progress, and the NPL trend is the number to keep watching.
• If you bank mainly on Telecel or AirtelTigo, check how well CalPay and the app support those networks before assuming parity with MTN.

Compare CalBank against other Ghanaian bank accounts, and see how to choose a bank account in Ghana for the full comparison checklist.

Frequently asked questions

What is CalBank's USSD code? *771#, for balance checks, transfers and bill payments without internet.

Does CalBank support MoMo transfers? Yes — both directions, CalBank account to MTN wallet and MTN wallet to CalBank account, plus its own CalPay e-wallet.

Is CalBank a licensed, insured bank? Yes — Bank of Ghana–licensed since 2004 as a universal bank, listed on the GSE, with deposits protected by the GDPC up to GH¢6,250 per depositor.

What happened with CalBank's capital in 2025? It raised about GH¢1.16 billion through a rights issue and private placement, which the bank reports took its capital adequacy ratio from −6.4% to 19.8% and cut its NPL ratio from 47.5% to 17%.

Can I open a CalBank account without a Ghana Card? No. The Ghana Card has been the sole accepted ID at all Bank of Ghana–licensed institutions since July 2022.