Send Money To Ghana

Ghana flagSending money to Ghana has never been easier. For those travelling to or conducting business in Ghana, there are a variety of ways to transfer money to the country. In this Ghana Money Transfer Guide, we focus on the best and the cheapest way of transferring money to Ghana.

So be sure to read it carefully and start saving more every time you make international money transfers.

The Guide’s Topics:

Best Company To Transfer Money To Ghana

Payment Facility



currencyfair logoMin. Transfer: £ / € 1.
Transfer: Online or using the App.
Wire Fees: € 3

Expected Rates*:
- GBP: 9.6947 GHS
- USD: 7.9301 GHS
- EUR: 8.3311 GHS
Currencyfair Review
Azimo logoMin. Transfer: No Limit.
Transfer: Online Only.
Wire Fees: £ / € 1 - 12 (Depends on Speed).

Expected Rates*:
- GBP: 9.6314 GHS
- EUR: 8.2768 GHS
- USD: 7.8784 GHS
Azimo review
worldremit logoMin. Transfer: £1 - £4,000.
Transfer: Online.
Wire Fees: £ 6.99.

Expected Rates*:
- GBP: 9.5342 GHS
- USD: 7.7988 GHS
- EUR: 8.1932 GHS
WorldRemit Review
Ecobank Ghana$41 International Transfer Fee + Currency Exchange Fee. Triple The Cost Of Any Commercial FX Company.

Exchange rate would be approximately *:
- GBP: 9.5342 GHS to 9.6314 GHS
- EUR: 8.1932 GHS to 8.2768 GHS
- USD: 7.7988 GHS to 7.8784 GHS
paypal logo2.9%+ Transfer Fees, and 2.5% more for Currency Exchanges. Quick but expensive.

Exchange rate would be approximately *:
- GBP: 9.4855 GHS or worse
- EUR: 8.1932 GHS or worse
- USD: 7.7988 GHS or worse

* Expected Rates reflect our rate expectations based on our research. We do not guarantee accuracy. For some companies we used a range of rates because they offer wholesale rates for large trades and higher rates for small trades.

Best way to send money to Ghana

The Bank of Ghana (BoG) is responsible for the monetary policy and has been setting different regulation through the years, trying to block any Ghanaian Cedi decline. The regulations are pretty much all referring to sending money from Ghana, where a few restrictions have been imposed on the amounts that can depart the country. But on the other hand, you can send money to Ghana without any big restrictions and very similar to other big countries.

Currencies Direct is one of the companies that we feature many times when talking about smaller countries or outside of the “big countries” list. Why? Because they have the biggest variety of currencies at their disposal and so, they can send money to almost any country in the world.

Azimo is an FX company that has specialised in working with remittances dependent countries and many African countries. It has no minimum deposit amount and the transfer fees as low as £1. It is a great solution for those that need to make regular and smaller money transfers to Ghana.

Payoneer as an additional option

Ghana has always been a problematic country for companies that handle money transfers and this exactly Payoneer might the best option for many. With them, you are able to receive money from all over the world and withdraw it as you wish (bank account or Payoneer Mastercard Card). For more info be sure to read our Payoneer review or go to their website and sign up for an account.

payoneer logoread review payoneergo to site payoneer

Best Company to Send Money from Ghana

Service Provider



rapidtransfer logoWhy Them? Your transfer is instantly available at receiver's location. Available to you whether you have an account with Ecobank or not.WorldFirst
WorldFirst Review

Supported Regions & Currencies

Because most of the FX companies don’t really provide their services to those that want to send money from Ghana to other countries, and if they do, they require big amounts to be transferred, we decided to feature Rapidtransfer. This is a service provided by Ecobank and it caters especially to all of the African countries where Ecobank is available.

Luckily, Ecobank has 1305 branches and offices in 36 English, French and Portuguese speaking countries in East, West and Central Africa. So pretty much the whole continent is covered.

The fee for a money transfer from Ghana to another country is (most of the times) approx 24 Ghanaian Cedi (~$15).

Currencies: There are no restrictions on currencies and every kind of currency can be exchanged for the local currency of the receiver.

Today’s Foreign Exchange Rates for GHS

GBP to GHS – Pounds to Ghanaian Cedi; 10,000 GBP is 97,287.3000 GHS

GHS to GBP – Ghanaian Cedi to Pounds; 10,000 GHS is 1,027.8834 GBP

GHS to CAD – Ghanaian Cedi to Canadian Dollars; 10,000 GHS is 1,628.5990 CAD

CAD to GHS – Canadian Dollars to Ghanaian Cedi; 10,000 CAD is 61,402.4690 GHS

AUD to GHS – Australian Dollar to Ghanaian Cedi; 10,000 AUD is 54,874.3591 GHS

GHS to AUD – Ghanaian Cedi to Australian Dollar; 10,000 GHS is 1,822.3447 AUD

GHS to USD – Ghanaian Cedi to US Dollars; 10,000 GHS is 1,256.6080 USD

USD to GHS – US Dollars to Ghanaian Cedi; 10,000 USD is 79,579.3116 GHS

GHS to CHF – Ghanaian Cedi to Swiss Franc; 10,000 GHS is 1,212.4604 CHF

CHF to GHS – Swiss Francs to Ghanaian Cedi; 10,000 CHF is 82,476.9196 GHS

GHS to EUR – Ghanaian Cedi to Euro; 10,000 GHS is 1,196.1171 EUR

EUR to GHS – Euro to Ghanaian Cedi; 10,000 EUR is 83,603.8568 GHS

Popular GHS Routes

Popular currency transfer routes for people visiting this page:

  1. Money transfer to Ghana from UK (GBP to GHS)
  2. Send money from USA to Ghana (USD to GHS)
  3. Transfer from Ghana to EU (GHS to EUR)
  4. Transfer from Canada to Ghana (CAD to GHS)
  5. Transfer from Australia to Ghana (AUD to GHS)

Why Send Money To Ghana

Ghana is an average natural resource enriched country in quantities but has a big number of different industrial minerals, hydrocarbons and precious metals. This means that they can tackle many different markets and provide resources to its population without importing too much of too many products.

The government has an economic plan called Ghana Vision 2020 in which envisions Ghana as the first African country to become a developed country between 2020 and 2029. The results of such a program will be the influx of money from investors looking to grow their portfolio at the same growth rate that the country’s economy is planned to have.

Manufacturing and Exports: Ghana is a digital-based mixed economy hybrid very similar to Taiwan with an increasing focus on manufacturing and exporting digital technology goods like consumer electronics, smartphones and tablets. Other important products are the cocoa, petroleum, natural gas, industrial minerals, assembling and exporting automobiles and ships.

Real Estate: The real estate and housing market of Ghana has become an important and strategic economic sector, mainly in the urban centres like Accra, Kumasi, Sekondi-Takoradi and Tema. the mortgage market has demonstrated enormous growth potential and many Ghanaians are investing in properties with the help of the Ghana government, which is empowering the private sector in the real estate direction.

“Outsiders” are investing more and more lately in the real estate sector because of Ghana’s tropical location and robust political stability. If you want to be part of those that do business in Ghana, be prepared and know their etiquette when meeting and conducting business.

Thinking Of Relocating To Ghana?

If you consider moving into Ghana and live there as an expat, you may find the following information helpful.

Advantages Of Moving To Ghana:

  • Low Crime Rate: 20% less crime than bordering African neighbours.
  • High Expat Salaries: Tech and Engineering industries see a 40% increase in salary in comparison to expat’s home countries.
  • Affordable Skilled Workers: 85% of the members of the middle class can afford household maids.

Disadvantages Of Moving To Ghana:

  • Pricey Private Schools: Since the public school system is quite underdeveloped, the expat has to invest a great deal in school tuition. Tuition can exceed 10,000 GBP per year.
  • Malaria: This can be a major expense for expats who have to spend 2 GBP per Malaria pill, which surely adds up.
  • Slow Internet Connection: Those expats wanting to stay connected will be alarmed that 40% of the population still uses dial-up.

Popular Destinations in Ghana:

Popular cities for business and real estate transactions in Ghana are Accra, Kumasi, Tamale, Takoradi, Achiaman, Tema, Teshie, Cape Coast, Sekondi-Takoradi and Obuasi.

How to send money to Ghana with FX companies

Many FX companies do business on the Internet, which easily allows their clients to send money to Ghana online. To get started, all a customer has to do is set up an account with the FX company. This can be done via the company’s online website, and it’s a process that generally only takes minutes to complete.

As verifying banking details can take a little while longer, it’s recommended that travellers, students and others who wish to send money overseas create an account ahead of their travels to ensure no wait time when they need to send money arises.

Once the account has been set up, transfers can be set up in a matter of moments. Delivery of converted funds is typically accomplished by the next business day, and the funds can be deposited into an account that the sender chooses.

These are the benefits that have facilitated the growing number of people that have started buying properties overseas as an investment or simply as a vacation spot. The low fees and fast delivery time that FX brokers can offer makes it a great channel for real estate agents to start catering customers from all over the world who want to buy properties in Israel, Estonia or to buy a beach house in Cyprus.

What you need to send money to Ghana

  • Bank Name and Address
  • IBAN
  • Swift/BIC Code
  • Account Number
  • Receiver’s Complete Name

After you provide all the details listed above, the process is simple:

  • You create a free account with the company.
  • Receive a quote from one of the dealers – be it online or by the phone.
  • Send the money to your account so you can fund the transfer.
  • Get a confirmation from the company (usually the same dealer that gave you the quote) that the transaction is completed.

Our Company Recommendation:

Regulations and taxes when transferring money to and from Ghana

Ghana’s currency is the cedi (GHS). The GHS is free-flowing and fully convertible. However, strict transfer regulations were put in place in 2014 to slow the cedi’s decline. Many of these were lifted when they proved too much of a burden for many financial institutions.

The Bank of Ghana

The Bank of Ghana (BoG) oversees payment systems and monitors the proper function of financial systems. Its oversight extends to monitoring the activity of all financial institutions.

The Bank of Ghana rarely intervenes into financial markets, but reserves the right to do so.

Transfer regulations

Strict transfer regulations were put in place in 2014, including extensive documentation, capital repatriation deadlines, and a US$10,000 limit on foreign exchange. Most of these restrictions were lifted soon after. Direct transfers between foreign currency accounts are still prohibited.

A limit of US$10,000 exists on over-the-counter forex withdrawals. A maximum of the equivalent of US$5,000 may be carried out of the country in hard cash.

Taxation on foreign income

Ghanaian residents are taxed on any foreign income.

Non-residents are taxed only on income originating in Ghana. Double tax treaties are in place to avoid double-taxation.

Biggest banks in Ghana

  • Ghana Commercial Bank
  • Ecobank Ghana
  • Barclays Bank of Ghana
  • Zenith Bank
  • Agricultural Development Bank of Ghana

We’re hoping that by reading this article, you will now be able to send money to Ghana cheaper and quicker than you ever did with your local banks. And even though, when you need to send money from Ghana, you still need to use different services provided by banks, soon this will change as well as the FX companies develop their infrastructure more and more.