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How to Send Money to Ghana: Your Essential Guide to Safe, Reliable, and Cost-effective Methods in 2023

Ghana is one of the best destinations in West Africa. With a general population of more than 32 million people, the country has a huge financial market. 

But, is it possible to send money there

While the economy remains in its formative stages, diaspora remittances to Ghana spiked in recent years. More and more people outside the shores of Ghana are looking for channels to send money back to the country.

Lots of these remittances come from Ghanaians living in other countries and firms looking for ways to pay freelancers and remote workers.

If you fall into the categories above and are wondering how to send money to Ghana, then you are in the right place. 

In this article, we’ll be discussing some of the best online platforms through which you can send money to Ghana safely and at a reduced cost.

Transfer Service

Things to Consider Before Choosing a Money Transfer Platform

To enjoy seamless money transfers at the best rates, you must consider some factors. If you ignore these factors, you are more likely to be a victim of scams and other unjust financial treatments. Some key aspects to consider include the following:

  • Reliability and Security 

Apart from the guarantee that your money will get to the desired destination, you want a money transfer service that’s secure and affordable. You want to feel safe knowing your transaction will get to your loved one on the promised date. The delivery method doesn’t matter much as long as safety is guaranteed.

A good way to do this is to compare transfer platforms. Look at their ratings and reputation over the years. Also, consider what their customers say about them. You also want to ensure that they are licensed and follow approved financial regulations.

  • Account Creation Requirements 

You should consider the hassles associated with creating an account with the platforms you are considering. Do they require you to wait days, weeks, or months before you can begin making transactions? 

We recommend that you stick with platforms that guarantee instant account creation services. That is the norm in today’s digital financial landscape. It won’t help if you accept anything lower than the fastest service available.

  • Transparency and Cost

Without a doubt, fees and service costs should determine which payment platform you choose to work with. You want to find a money transfer service that offers the best and cheapest services. These types of platforms become even more vital if you wish to send money to a country like Ghana regularly. You’ll need excellent service delivery and a reasonable service charge to ensure you don’t incur too much cost after running several transactions. 

It would help if you looked closely to avoid hidden charges when considering money transfer platforms. The remittance industry has long battled with the high cost of money transfers across borders.

  • Local Exchange Rates 

Most countries of the world are still emerging from the economic limitations imposed on them by the COVID-19 lockdowns, and Ghana is no exception. Exchange rates are unstable and usually differ. You want to find a digital money transfer platform that offers competitive exchange rates that you can trust.

These platforms will ensure that you and the recipient get the maximum value for your money when you transfer cash to the Ghanaian bank account. The most reputable money transfer platforms will offer you the best foreign exchange rate possible. This feature and excellent service delivery make for a winning combination.

  • Speed

Most online money transfer platforms do not perform same-day money transfers. The recipient may have to wait for some days before receiving the money. However, you should use platforms that allow you to send money to Ghana within two to three business days.

In today’s world, this timeframe is the minimum you should expect from a reputable money transfer platform. Thanks to the competitive and growing digital space, some platforms now allow instant withdrawals. Payoneer is a prime example of such platforms. With the Payoneer Mastercard in Ghana, users can make instant funds withdrawals. 

Ensure you choose a service that does not charge hidden fees for the transfer you make with them. This platform should also allow you to make bulk or large transfers at a reduced cost. This feature is essential for people who make substantial money transfers regularly.

What Are the Most Accessible Ways to Send Money to Ghanaian Bank Accounts?

Thanks to exploits in technology and the growth of online payment systems, the hassles associated with cross-border money transfers are now a thing of the past. Now, you can send money via platforms that support your local currency and make instant conversions. Most of these transactions may never require you to leave your house.

Below are some channels through which you can send money to Ghanaian banks:

  1. Online Money Transfer Platforms
  2. Physical Banks

1. Online Money Transfer Platforms

Transfer Service

These money transfer services eliminate the need to visit the bank to make transactions. You can send money to friends and family in Ghana by simply pushing some buttons on your phone or computer right there within the comfort of your home. 

These online payment platforms act as middlemen between you, the sender, and the recipient in Ghana. While there are hundreds of these platforms available on the internet, Payoneer remains one of the most trusted among users. 

Payoneer has been in the digital space for decades and has built a great reputation. They offer seamless services that allow freelancers, remote workers, friends, and families to receive money from people outside the shores of Ghana. Furthermore, the company operates using competitive exchange rates and does not have hidden charges. They are an ideal payment platform that large corporations can use to send money to workers living permanently in Ghana.

What is Payoneer? Does It Make Sending Money to Ghana Easy?

Like most countries in West Africa, Ghana faces sanctions from global payment platforms. In light of these events, people turned to Payoneer, a global payment system that offers services that allow easy money transfers to Ghanaian bank accounts.

As a result, Ghanaians and foreigners prefer to use the payoneer route to make their transactions. Payoneer was among the few financial institutions that pioneered the new digital age. 

The company creates a suitable payment platform to send and receive funds from over 200 countries. Also, you can perform these transactions in over 150 approved currencies. 

With Payoneer, you can do more than just transfer or receive payments. The system allows you to track transactions so you can know if they are successful or not. Furthermore, you have access to a detailed transaction history that will give you a breakdown of all the payments you have made and received. 

The Payoneer platform is 100% internet based. Hence, you can perform transactions on your mobile phone, tablet, or personal computer. No paperwork is involved, and you won’t be visiting any bank. You can also keep tabs on your transactions on the go.

With Payoneer, you can rest assured that your security and confidentiality will remain a top priority. The platform is transparent with its transfer fees. You will find them displayed on the Payoneer website. If you have questions about these charges or other parts of their operations, you can reach out to their responsive customer care service via the channels provided on the platform.

With payoneer, you can explore different payment routes. Recipients using Payoneer can explore these routes too. To withdraw money into your Ghanaian bank account, you can use Payoneer channels like the e-wallet, Mastercard debit card, and bank transfer services. Payoneer bank transfer services provide a platform that allows users in Ghana to create foreign bank accounts even if they live in Ghana. 

Payoneer puts you in the driver’s seat. You can determine when money gets sent out and choose its destination. 

There are several benefits of using Payoneer to send money to Ghana. You can receive transfers and payments. You can also request payments from firms outside Ghana whether you have an account with Payoneer.

Recipients in Ghana can create foreign bank accounts in major currencies like the US Dollar, the British Pound, and the European Euros. This feature extends the number of e-wallets you can have and enhances the number of global bank transfers you can make. Recipients in Ghana can also receive direct payments from America and Europe. 

Major Features Of Payoneer 

This payment method offers many features that make it an excellent payment route to send money to Ghana. As a major global payment platform, Payoneer employs top-level end-to-end encryption software. This software helps to protect the details of the millions of people that carry out money transfers on the platform every minute. With Payoneer, you never worry about security breaches or third-party access to your personal payment information.

In addition, the platform has a robust payment processing system. It allows Automated Clearing House (ACH) electronic transfers. This feature is handy for freelancers that wish to receive money transfers from global freelancing firms. Payoneer also supports invoicing, account billing, and API. 

Recently, the company also moved into cryptocurrency processing and other credit card services. Payoneer also provides branding services for new and already-existing businesses. 

Payoneer is a one-stop shop for all your online payment needs.



How Do I Send Money Online Through Payoneer?

Once you have a reliable platform that offers the best rates, like Payoneer, sending money to Ghana is a walk in the Park.

All you have to do is to follow the steps below.

  • Create a verifiable account with Payoneer (you’ll need to provide some personal details)
  • Complete the verification process to lift your account transfer limitations
  • Next is to follow the Payoneer-approved channels to fund your account.
  • Locate the “pay” option on your dashboard to send money to the recipient’s bank account
  • Next, click on the make payment option
  • Follow the prompt and enter the amount and the recipient’s account number/Payoneer account to initiate the transfer.
  • Provide the required information and click on pay
  • Payment processing kicks into action

2. Physical Banks

Transfer ServiceAnother way to send money to local bank accounts in Ghana is through regular banks. Foreign banks can send money to banks in other countries of the world through systems like MoneyGram and Western Union. These transactions involve cash, so you can take advantage of this payment channel if you don’t mind making a bank deposit. 

Unfortunately, there are drawbacks to using banks since they don’t support mobile money. Apart from unfair exchange rates, you may have to wait many days to send money. There is also too much documentation involved. Online money transfer systems like Payoneer remain your best bet. To create balance, transferring money to Ghana allows you to move money straight to designated cash pickup locations.

Other Online Payment Platforms 

As we mentioned earlier, there are other online money transfer platforms like Payoneer. While these platforms are pretty decent, Payoneer remains the most reliable. It has over five million users globally and offers mouthwatering rates. Examples of other payment channels you can use to transfer money to Ghana include Transferwise, Square, Striped, and many others. 

These payment platforms also help to process payments to Ghanaian bank accounts. Recipients can receive this money in the country’s local currency whenever they want. 


If you have been looking for secure online money transfers to send money to Ghana, there you have it! Platforms like Payoneer make it easy and cost-effective for you to do so. 

All you have to do is open an account. They have a help desk and an easy-to-use website that will guide you through depositing, transferring, and withdrawing money without leaving your home. You do not have to worry about bank debit issues.

Physical banks are another payment route that you can take advantage of. However, we recommend using reliable online platforms like Payoneer for extra security, favorable exchange rates, and speed.