Here is a random breakdown of total money transfer fees, when you want to send money to Ghana or any other country:
- First of all, there is a transfer fee, the operator charge for transferring money. It depends on the operator, whether he offers a fixed amount or percentage of the total amount you want to move.
- Another fee is a conversion fee as international transfers are made between different countries, so money transfer operators also charge a currency exchange fee. It is slightly high compared to market rates so that the operator may get profit.
- Some other fees are also charged depending upon the services you consider for money transfer. For example, charges are different when making the transfer via credit card, debit card, or bank transfer.
What Do You Need in A Money Transfer Service?
If you know what you want after considering different parameters of a money transfer service, you will avoid paying for unnecessary features. For the online money transfer to Ghana, you need to keep these things in mind.
- The amount you want to transfer, payment method, and speed of money transfer you need impact price.
- If you need speed transfer, only then pay for it.
- It would be better to consider online services than waiting in line.
How To Consider Different Pay-In and Pay-Out Methods?
There are several ways of money transfer to Ghana and other countries. It is because of advancements in technology. You have to consider how money flows in and out during a money transfer. The pay-in method is a way in which you give money to the operator. It may be cash, a domestic bank transfer, or by using debit or credit card.
Pay-out methods are those using which your money is distributed in other countries. Not all plans are available in the destination country, so you choose the available one. Money can reach the beneficiary info of cash via the bank’s money transfer agent. It can also be transferred directly to the bank of the beneficiary. Money can also be deposited in mobile wallets.
What Are Some Tips for Saving During Money Transfers?
- Compare all the costs you are paying.
- Try to avoid expensive services.
- Some money transfer companies also offer special promotions and deals for some time, and it would be better to get advantages from these opportunities.
- Only pay for the services you are taking.
- It would be better to send money online.
If you are making money transfers, it would be better to be careful. Only pay for services you are taking form the operator or the company. You can also consider ACE money transfer for taking services. It is a trusted website for transferring money abroad. It also has a convenient mobile application. So, you must try their money transfer services if you have to send money to Ghana online or other countries often and won’t regret it.