How to send money to Ghana from Spain with the best EUR-GHS rate

A better exchange rate means more Euro being sent to Ghana. This exchange rate determines the price you will pay when buying Ghan Cedi.

Currently the mid-market rate between Euro and Ghan Cedi is 12.7982.

Fees and exchange rates make up the total cost of sending money from Ghana to Ghana. Finding a company that can offer both ensures a good deal on your transfer.

• The Mid-Market and Exchange Rates: The current EUR-GHS mid-market rate is 12.7982 GHS per Euro. You will get more Ghan Cedi for your Euros if you find a provider close to this number.

• Fees: Transfer fees are charged as part of the transfer. Paysend charges the lowest fee of 0 EUR at the moment. We’d always recommend comparing providers for your exact send amount as fees may change.

• Amount Received: Money transfer companies will show you the amount of Ghan Cedi eventually received in Ghana. You can assume that a lower cost of sending from Spain will result in more money received in Ghana.

Sometimes, waiting a day or two can help you get more GHS for the same amount of Euro - but time it wrong and you might get a worse deal.

If you’re sending a large amount where this rate could make a significant difference, use a forward contract. This allows you to lock in an agreed exchange rate between Spain and Ghana.

A bank transfer through a money transfer company is the cheapest way to send money. Generally, it’s the payment method that will get you the best price on a transfer from Spain to Ghana at this moment.

Here are all the ways to send money from Spain to Ghana:

Bank transfers

Bank transfers are usually the best and easiest way to send money from Spain to Ghana.

By using a money transfer company such as Sendwave for transfers from Spain to Ghana, you can send money via a bank transfer while benefitting from lower fees and more favorable exchange rates than you would get from a traditional bank.

Debit and prepaid cards

Sending money from Spain to Ghana with a debit or a prepaid card is available through Wise.


Wise is one of the cheaper options for debit card payments for transfers from Spain to Ghana. This cost is against a total of 7 money transfer companies offering this option.

Credit cards

When it comes to credit card transfers from Spain to Ghana, we recommend comparing your options to get the best deal.

Transfer limits to Spain and Ghana will differ per company, this may impact the amount you can send and receive if you hit the limits.

Also, rates and fees for different EUR-GHS transfer amounts could change - that’s why it’s best to compare companies for your specific transfer amount. Then, for regular transfers to Ghana, shopping around each time can make a huge difference if you feel you are hitting limits regularly.

For sending large or regular amounts of EUR to Ghana we'd recommend using Wise. They offer a combination of rates and fees when sending from Spain to Ghana that is the most competitive.

There are different ways to receive money in Ghana.

The most popular ways are direct bank deposit into Ghan Cedi, cash pickup, a mobile wallet or receiving money into a multi-currency account.

Not all providers offering money transfers between Spain and Ghana will offer every method for incoming Ghan Cedi.

Understanding where the money will eventually go after its left Spain and entered Ghana could impact the provider you use.

The most common (and generally easiest) way to send money from Spain to Ghana is directly into a bank account. Wise is the best company for sending money from Spain to a bank account in Ghana.

And if you need cash right away, check if cash pickup is an option for transfers between Spain and Ghana.

Mobile wallets, P2P services and payment apps like PayPal, Xoom, and CashApp are popular because they offer convenience to those who already have them, but they come with more limitations and higher costs.

When sending Ghan Cedis to Ghana, you will need to verify your ID at the sign up stage.

The documents you need will vary by money transfer company and in some cases you might need a couple of options.

For the most part however, in Spain ID can be verified through a government issued ID such as a passport or driver's license.

In Ghana, if the recipient needs an ID to collect money - both should be accepted. We’d recommend checking in advance before sending for any specific requirements on receiving money.

Large transactions between Spain and Ghana, are subject to additional checks such as proof of funds. This is for anti-money laundering purposes.

Wise is one of our recommended providers for transfers to Ghana from Spain due to the ease of sign up and ID verification.

When sending money between Spain and Ghana there will be tax declarations to consider.

Some transfers into Ghan Cedi may need to be reported to tax authorities in Ghana, particularly where inheritance or property purchases are involved (or anywhere else there are additional legal requirements).

Depending on age and income in particular, tax limits and personal allowances will change in Ghana.

When in doubt, please contact a tax professional in Spain or Ghana to discuss the personal circumstances of the transfer. This ensures you are not missing any specific tax declarations associated with your circumstances.