How do you send money to Ghana? In this article, we will discuss the different ways of sending money online from the United Kingdom to Ghana. We will also try to determine if sending money from a bank account in the UK to a bank account in Ghana is the best option or other options that are better than bank transfers.
We will first take a look at the requirements of opening a bank account. One point is important to consider that these requirements remain universal whether opening an in-branch account or opening an online account.
Firstly, present your three photos of passport size;
Secondly, present a copy of your passport; and
Thirdly, present proof of residences like a utility bill or lease agreement issued in your name.
Let’s now study other important points related to bank transfers.
Firstly, you can deposit money into any bank in the UK or Ghana.
Secondly, the type of account can be any. It is not that you cannot transfer money if you do not have a specific account type. One requirement is to produce an International Bank Account Number (IBAN) for money transfer to Ghana.
Thirdly, it normally takes about three to four working days to transfer the amount. Funds can transfer early or can delay even further if emergencies strike, such as wars, calamities and other issues impacting economic activities. Otherwise, the normal time to transfer funds is well within a week.
Then you can transfer money in any currency or Ghana’s local currency. There is no bar on the type of currency.
After that comes the volume of funds. Of course, there is no upper limit of funds when transferred through banks but there are certain lower amount limits below which certain banks refuse to initiate when you send money to Ghana online. It depends on different banks. There is no uniform policy for that.
Then you will be required to show the beneficiary’s name, which should be the same as their photo identity; address, email, reasons for transferring funds and relationship etc., are also required.
So far we have studied the way of transferring money through the bank. Now, we will take a brief look at other ways which are better than banks.
Transfer through companies:- There are a number of online money transfer companies worldwide through which transferring money to any other part of the world is easy and convenient. Some of these companies holding high credibility and impeccable repute, such as ACE, TransferWise and MoneyGram etc., offer low service fees and easy methods to initiate and complete transactions without requiring much documentation, the likes of which we saw in transfers through banks.
These companies have also launched their easy-to-use mobile apps, which make it even easier for the customers to send money to a loved one living anywhere from the middle of their comfort zones.
Mobile wallets:- It is another way for online money transfer to Ghana or from one place to another, and it is one of the easiest ways in which all you need to have is a smartphone, mobile app of the concerned company and access to a secure and viable internet connection. This method is far easier to transfer funds than all other methods detailed out above.
Conclusion:- In this discussion, we threw light on the bank-to-bank transfer between the United Kingdom and Ghana, whose requirements are far more complex and time-consuming than other methods we discussed. If you look for optimal convenience while transferring funds, then your best bet will be ACE, whose services have always exceeded its customers’ expectations.