When you want to send money to family, friends or colleagues in Ghana you don’t want to deal with a complicated and expensive process. Whether you’re helping out an aunt in Sunyani or starting a business in Accra, sending money from New Zealand to Ghana doesn’t have to be a lot of fuss. Whether you use bank transfers or online transactions, when you compare transfer fees and exchange rates of the available options you can get the best deal.
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How do I compare transfer companies when sending money to Ghana?
When you’re sending money to Ghana from New Zealand, keep an eye on:
Exchange rates. Nearly all providers skew exchange rates for a profit. Compare the rate you’re offered to the mid-market rate — the rate banks and transfer services use when they trade among themselves — and look for the smallest margin between them.
Transfer fees. Find out whether the provider charges a flat fee or a percentage of your transfer. If you’re sending a large amount, ask whether you qualify for a fee-free transfer.
Ways to send money. While a few transfer companies will allow you to pay by phone or at an agent location, others are fully online and accept credit or debit cards and bank account transfers only.
Ways to receive money. The recipient can receive the transferred money directly into a Ghanaian bank account. Another option is to collect the money by visiting a cash pickup location.
“Hedging” options. Ask whether you can schedule payments ahead of time or protect your transfer against market fluctuations with a limit order or forward contract.
Transfer speed. If it needs to be there fast, companies like Western Union and MoneyGram allow for quick cash pickups, often in minutes. If you’ve more time, you’ll get better rates and fees with an independent provider.
Transfer limits. Your best option might depend on how much you want to send. For large transfers, weigh the best exchange rate — especially since providers encourage large transfers by offering low fees. For smaller amounts, consider the fees you’ll pay on top of the exchange rate.
The exchange rate determines how much one country’s currency is worth in another currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weak currency. Ghana has a flexible exchange rate, which means it can change from moment to moment based on factors such as interest rates, economic stability and inflation. Today’s exchange rate NZD to GHD .
How to send money to Ghana from New Zealand
You have multiple options to send money to Ghana from New Zealand.
Bank transfers. Your major New Zealand banks may allow you to wire money to banks in Ghana.
Providers with cash pickup. Companies like Western Union and MoneyGram offer several cash pickup centers in Ghana
Money transfer specialists. WorldRemit and other companies let you transfer money to Ghanaian bank accounts. And because it’s a trusted partners of Finder NZ, OFX is offering our readers an exclusive deal of $0 in fees.
PayPal. Electronic payment giant PayPal allows you to send money from New Zealand to Ghana.
M-Pesa. M-Pesa is a safe, secure way to send, receive and store money through your mobile phone or an app. Top up your account at one of more than 287,000 agent locations and then send money to loved ones, who can visit an agent to withdraw their funds.
Steps to send money to Ghana
Register for an account with a provider, supplying your name, address, contact details, proof of ID and information about your selected payment method.
Supply your recipient’s name, contact information and bank account details as required.
Enter the amount of your transfer and complete the transaction.
Keep track of any receipt you receive so you can monitor the progress of your transfer.
While most visits to Ghana by foreign nationals remain trouble free, there are reports of petty and violent crime. Be vigilant when you collect money from a cash pickup location and when you withdraw money from ATMs. Avoid carrying large sums of money with you by depositing your money quickly.
Cash pickup locations in Ghana
Agricultural Development Bank Address: Newtown Circle Road, Malam Atta Market in the Old Oxford Cinema Building Hours: 9:00 AM – 5:00 PM Phone: +223-030-2220989
ARB Apex Bank Address: No. 5 Gamel Abdul Nasser Ave, Accra, Ghana Hours: 9:00 AM – 5:00 PM Phone: +233-030-2771738
Fidelity Bank Ghana Address: New Corporate Building A & C Dev. Com. Ltd. A & C Mall Premises, First Floor, East Legon Hours: 8:30 AM – 5:00 PM Phone: +233-030-2522633
Fidelity Bank Ghana – #63 – ACCRA – PC KANESHI Address: Kaneshie Akutu Junction Hours: 8:00 AM – 5:00 PM Phone: +233-030-2214490
Universal Merchant Bank – ACCRA – AIRPORT Address: SSNIT Emporium Property Hours: 8:00 AM – 6:00 PM Phone: +233-030-2666331
OISL Address: Next to Agege Last Stop Hours: 8:00 AM – 5:00 PM Phone: +233-030-2610007
Accra Katamanto Branch Address: Tarzan Building Katamanto Ac Accra Hours: 8:00 AM – 5:00 PM Phone: +233-302-246119
Airport Square Address: Plot 21, Airport City, Behind Accra Hours: 8:00 AM – 7:00 PM Phone: +233-302-2019161
Corporate Business Office Address: Heritage Towers Ridge Accra Hours: 8:00 AM – 5:00 PM Phone: +233-302-688944
Agricultural Development Bank Address: Kumasi Zongo, behind the Zongo Police Station Hours: 8:00 AM – 5:00 PM Phone: +233-032-2033481
ARB Apex Bank Address: Kumasi, Ghana Hours: 8:00 AM – 5:00 PM Phone: +233-032-2040990
Fidelity Bank Ghana Address: Baba Yara Sports Stadium Kumasi Hours: 8:30 AM – 5:00 PM Phone: +233-032-2049814
Atwina Rural Bank Limited Address: Near Asofoadjei Hospital, Kumasi Hours: 8:30 AM – 5:00 PM Phone: +233-032-2027371
Adrienne Fuller is the head of publishing at Finder US. With a decade of experience creating guides in finance and education, she aims to deliver the accurate and transparent information she wishes she had when she made some of life's important financial decisions. For the past 3 years she has been the publisher of money transfers, helping readers save when they send money all over the globe. She has a BA from Colorado College and loves to hike with her two Catahoula dogs around her home in San Diego.
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