International payment transfers are a part of every other person’s life. Whether you are a remittent, or businessman or a charity person, the need to send money online can be faced. Talking about Ghana, which holds an integral place in world’s remittance industry, here are some tips that will help you to send money to Ghana, with the cheapest cost.
Why Online Money Transfer Services Are Important for Us?
From 1973, wire transfers have been used widely for regulating payments overseas and domestically. It is undoubtedly one of the fastest and most reliable methods, but it comes along with a hefty fee. On average, the cost of sending a wire ranges from 25–75$. The cost varies from state to state and company to company, but it is still relatively much higher than ACH transfers and online transfers.
Now, if you have to do a business transfer or any transfer consisting of enormous amount, then wires are the best medium. But if you solely want to send your remittances, then a simple ACH transfer is preferable. When your money transfers to Ghana online, the costs are cheapest. Let us look at an example.
If a person wants to transfer 5000$, then a fee of 60$ is not a big deal for that. But if someone wants to send 1200$ only, then paying 60–75$ is not a cost-effective fee. If you don’t have an emergency or top-secretive privacy purposes, then you can send money online with a transfer fee, starting from as low as 0$. Money transfer services are the top-recommended choice for sending money to Ghana from the US.
Choose Your Day and Time Carefully
Tuesday and Thursday are usually considered the cheapest days for booking international flights and international transfers. If you have to transfer payments to Ghana, then pre-schedule your transaction cautiously. The same amount, when sent on weekends, can cost a lot more than usual. Simultaneously, if you make your transaction from 10–2 pm, your shipment will be processed within the same day.
It happens more often before special occasions and festivals such as Christmas, Hakkunah etc. The rate of international transfers elevates by a significant proportion, and due to work-load, more costs by senders.
Most of the migrants transfer their payments between 1–10th of every month. In these days, the rates are relatively higher. We can also say that pre-scheduling is the key. If possible, have two separate bank accounts and keep one of them exclusively for managing transfers. You’re your pay gets transferred, Money transfer company will automatically send the specific amount at the selected date and time.
Online money transfer system chooses and tells remittances about the best time, on which they can get the best rate. They will help you in cutting every unnecessary cost so that you can save every penny from your payment. For getting a plan according to your demands and routine, contact their website.
Ghana is a popular destination when it comes to international money transfer. There is a large number of people who move away from Ghana so that they can find better jobs and thus support their families in a better way. Automatically means that a large number of people send money to Ghana.
When it comes to the ways through which one can carry out online money transfer, there are numerous available options. Which one is the best option to send money? Here are some of the most popular ways of sending money to Ghana. You can go through the details of each one of these and assess which one would be the most suitable one for you:
Is it Possible to Transfer Money via Banks?
The use of banks to carry out a money transfer to Ghana is not a new concept. People have been wiring money to international countries through banks for years. There are two different ways through which money can send to Ghana through banks. The first one is the method of bank transfer in which the money is transferred directly from the bank account of the sender to the bank account of the recipient. The other way is through bank deposits in which the sender directly deposits the cash into the bank account of the receiver.
The perk of sending money globally through the banks is safety. The funds will always reach Ghana safely and without any loss. But on the other hand, it may take anywhere from three to five days for the transaction to be marked complete. Therefore, it is not an ideal channel of money transfer when in an urgent need of sending money.
Can You Transfer Money Through Money Transfer Service Providers?
Another popular way of sending money to Ghana is through money transfer service providers. Some money transfer service providers can prove to be extremely helpful in this regard. The method of sending money to Ghana via money transfer service providers is an online process. Therefore, the most significant advantage of this channel of money transfer is the fact that it the most convenient. One can send money anytime and from any place as per his own need and ease.
The other advantage of money transfer service providers is affordability. The exchange rate offered by the service providers is a lot higher, and yet the transfer fee charged is meagre. This way, one can always send money to Ghana in the most budget-friendly manner. That is one of the most popular money transfer company, and a large number of people make use of this medium to send money to Ghana regularly.
What else do you need, if you have all the required options to transfer money with a few minutes? Money transfer companies have made it easier to transfer your hard earned cash with low fee and better exchange rates. Gone are the days, when you have to wait for long for transferring your money. Online money transfer has made the lives of both sender and receiver easy.