Initially, people were stuck to only a few options for international money transfer. Still, now different companies and agents are providing efficient services to the customers, for the best transfer experience. Ghana is an African State, located in the Gulf of Guinea. Similar to other states of the continent, the GDP of Ghana is recorded to be delegating for many years. A lot of Ghanaians send money to Ghana, who are working in other developed countries. The aim is to fulfil the needs of their relatives.
A huge population has migrated from Ghana to other countries so that they can earn for their families and loved ones. But when it comes to international transfers, some companies charge higher rates from the people. They provide marked-up exchange rates and add unnecessary charges in your transaction solely to earn more profits. Thereby, here are some tips that will help you in saving your money, by finding an economical company for your transfer.
1. Why Should You Avoid Using Traditional Services with A Low Exchange Rates and High Fee?
Banks are accused of charging varied exchange rates, along with higher service charges. No doubt, their services are in use for many years, but due to the increasing competition in this industry, many people have shifted to different money transfer companies.
2. How to Look at the Money Exchange Rates Before You Send Money Online?
Exchange rates are considered as a significant constituent factor whenever Ghanaians need online money transfer to Ghana. Most of the additional payments are charged in the disguise of currency exchange rates. Before making a money transfer, always look upon the current rates and check if your provider is offering the same rate or are there some variations? Many online companies and pages have “Exchange Rate Calculator/Tool” at their websites, which can help you in calculating the exact cost of your transfer.
3. Is Timing Matters in Money Transfer?
On special events, holidays and religious festivities, the transfer rate is elevated notably. You may have to pay extra service charges to send money to Ghana online in all such conditions. Other then this, in normal routine most of the transfers are made in the first ten and last five days of a month. The workload on companies may affect the credibility and speed of your payment transfer.
To avoid this, schedule your transfers in-advance, and transfer your payments by keeping a safe margin of at least a week. It will help you in sending the right amount to the right person, at the right time!
4. What is the Role of International Money Transfer Providers?
Choosing your IMT provider is as crucial as the safety of your proceeding. A lot of companies charge additional payments, marked up exchange rates and unnecessary service charges to send your money. Ace Money Transfers can help you in overseas transfer by giving the most reliable service along with optimized exchange rates. For the money transfer to Ghana, Their immediate services allow the customers to transfer payments within seconds.