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Bank it, don’t stash it: Public advised to avoid keeping cash at home

The Managing Director of Fidelity Bank, Julian Opuni, has urged the public, particularly small and medium-sized enterprises (SMEs), to avoid keeping large sums of money outside the banking system.

Instead, he encouraged them to utilize banking services for financial security, stability, and long-term wealth creation.

Speaking at a media forum organized by Fidelity Bank in Takoradi for journalists from the Western and Central Regions, Mr. Opuni emphasized that saving money in banks not only protects individuals from theft and loss but also fosters a stronger financial culture.

“Keeping large sums of money outside the banking system exposes you to unnecessary risks. Banks are here to ensure your money is safe and to provide financial solutions that help you grow your wealth. I encourage everyone to make use of banking services instead of keeping cash in homes or business premises,” he stated.

He further stressed the need for increased public education on financial literacy and banking benefits. “Many people do not fully understand the advantages of using banking services. We, as financial institutions, must intensify efforts to educate the public on financial discipline, inclusion, and long-term planning,” Mr. Opuni added.

The forum, themed “Building a Sustainable Future Together,” also highlighted Fidelity Bank’s corporate social responsibility initiatives, particularly in areas such as youth employment, education, health, and agriculture. Mr. Opuni reaffirmed the bank’s commitment to supporting these sectors through various grants and financial programs aimed at economic development.

He concluded by encouraging Ghanaians to embrace banking services to secure their financial future, reduce risks associated with holding cash, and take advantage of available banking opportunities for business and personal growth.

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