If this is your first time sending money to Ghana or overseas, you might have done some research into the best method. Since foreign money transfers can appear to be a complicated operation, there are bound to be conspiracy theories. However, they aren’t nearly as tricky as they seem!
It’s hard to believe that many online merchants, particularly those based in the UK, avoid access to global transactions in our thriving online money transfer service – today’s most competitive market. When you realize that cross-border money transfers in the United Kingdom are projected to bring in $203 billion by 2021, it should be a no-brainer for online retailers to consider tapping into the growth opportunity that exists outside of the UK’s borders.
How Is Online Money Transfer Cheaper as Compare to Bank Transfers?
Let’s look at an example. Let’s say you want to send money to Ghana online from the UK using a money transfer service, and the amount is £1000. With a 1% transfer rate and no mailing fee, you’ll have to pay £100 in fees. When opposed to a conventional bank, you can expect to pay a transfer rate of 2% to 6.5 per cent, as well as a sending fee of up to £20. Overall, moving $10,000 via banks could cost between £220 and £670. Consequently, if you send money abroad via the wrong route, it can be very expensive.
Online Money Transfer Service Do Not Have Physical Offices. What If I Have Queries?
While online money transfer service providers are making some people less reliant on going to the bank and speaking with a bank official, this does not rule out the possibility of speaking with a human being in the future. If you have any problems or questions about your online money transfer to Ghana or elsewhere, the best service providers, such as ACE Money Transfer, provide a phone number where you can get your questions and concerns answered.
The Bottom Line:
Clients can benefit from money transfer to Ghana and other countries in several ways. Clients not only save time by not having to visit their nearest office, but they also gain leverage over bill payment and automatic savings. Individuals who have not chosen to perform online banking must acknowledge that their worries prevent them from reaping the same benefits.