Why Are Banks Not Always A Good Option To Send Money Online?

According to an estimate by the World Bank, people pay 6 to 8 percent of the total transfer fees. This is about 60 to 80 bucks on the transfer of 1000 dollars. So sending money abroad via bank is the most expensive way. According to the World Bank, it was concluded that most of the banks charge ten percent of the total amount on average. Well, this is too much. So preferring a bank to send money to Ghana is not always a good option.

These days you have a lot of options for sending money abroad. People get confused when they have to choose a money transfer method for themselves. Most people prefer banks to send money globally as they think that banks are a safe option. But it is best for money transfer to Ghana and other countries.

Are They Offer Poor Money Exchange Rates?

Most people think that currency fluctuation is a problem only for foreign exchange traders. Still, today, the pound’s fluctuating value against the euro, dollar, and other currencies has become an issue for everyone. Most people prefer money transfer through banks, but most banks offer reduced exchange rates and benefit from it.

How To Choose Money Transfer Companies To Send Money To Ghana?

A considerable number of overseas Ghanaians have to send money to Ghana online. It would be better to prefer cheap but secure ways of transferring money. An affordable way for money transfer abroad is via currency transfer specialists. ACE Money Transfer can be a good option for you. They send money quickly online to the desired country and charge less fee for providing their services.

Why A Lot of Information is Required In Money Transfer?

Although most banks let you transfer money online, some still do not provide you with this opportunity. In that case, you have to visit the nearest local branch. You have to fill out lengthy wire transfer from every time you want to send money, they will ask for some additional information. You may also have to show your ID card for validation of your identity.

Why A Bank Account for Money Transfer is a Must?

If you want to avail of their money transfer services, you must have a bank account; otherwise, you cannot transfer money. First of all, you will need to open an account in the bank, and then you can initiate the transfer process. Opening a bank account can also take a few days or weeks.

Can You Consider Money Transfer Companies?

It is recommended to take specialist money transfer services if you want online money transfer to Ghana. Reasons behind this are as follows:

  • They give much better exchange rates as compared to banks.
  • There are no hidden fees, and you will pay fewer and lower fees.
  • They provide you with several options regarding transfer funding and receiving money on the other side.
  • Transfers are completed quickly as compared to others.
  • Banks have to do a lot of things. At the same time, these money transfer services providers are specific for international money transfers. So they care for you a lot as a customer.