Misconceptions VS Reality: Why Online Money Transfer Is Become Customers First Choice Despite Busting Myths?

You have a variety of choices regarding sending money to Ghana or anywhere in the world from your Australia, UK or European countries. Selecting the appropriate method for your foreign currency exchange would save you money while ensuring that the recipient receives their funds quickly and securely.

We are now living in a time when modernization is taking place in every corner of the globe. People are becoming more familiar with the new developments, and their thought processes and behaviour reflect this. However, there are still some places in which people are ignorant. International money transfer to Ghana and worldwide is one such sector!

Money transfer services are an absolute necessity in today’s world. However, several people are still reluctant to perform foreign fund transfers due to common misconceptions and delusions about the method! We’ve done the legwork for you, so sit back, relax, and learn how to transfer money around the world.

Say Goodbye To Banks: Why Should I Send Money Through Online Money Transfer Service Provider?

Are you looking for the best way to money transfer to Ghana from the UK? Of course, your first instinct is to send money overseas using your UK high street bank. Put a stop to it right there! While your bank might be convenient, sending cash through them would cost you far more than sending money through a specialist money transfer service.

This is why:

  • For foreign money transfers, banks charge hefty, hidden fees.
  • Your European bank will almost always offer you a lower exchange rate than you would get elsewhere.
  • Your payment may have to go through several other banks, each of which will charge you a fee.
  • The beneficiary would likely be charged a fee to obtain the funds into their account.

If you’re sending small sums of cash, the high fixed fee can be a real issue, as European banks can charge up to €50 for foreign money transfers. For, e.g., if you send €500 to Ghana, the €50 fee would account for 10% of the amount.

Banks can also offer you a lower exchange rate than you would get elsewhere, like ACE Money Transfer, up to 3% or 4% below the base rate. Furthermore, foreign money transfers may be required to move through other intermediary banks, each of which may levy a fee of ten euros to complete the transaction. Finally, the recipient’s bank would almost definitely bill for the funds to be deposited into their account.