Sending money to Ghana is fairly easy, but there are a few slight difficulties in doing so. Many of the leaders in the money transfers industry offer slightly different rates and deals for sending money to Ghana. In addition, exchange rates for the Ghanaian Cedi have been unpredictable for some time now.
That being said, sending money online is just as easy as sending money anywhere else if you’re taking advantage of the right resources.
The exchange rate for the Ghanaian Cedi (GHS) is 5.4177 GHS per American Dollar (USD). The high for the GHS over the last 90 days was 5.4803 GHS per USD, while the low was 5.2174 GHS per USD. The average exchange rate over the last 90 days was 5.3848 GHS per USD.
The average volatility of the GHS was 1.06% against the USD over the last 90 days. The GHS fluctuated severely in the first few months of 2019. You can reasonably expect unpredictable fluctuations to continue going forward, barring unforeseen changes in the circumstances in Ghana.
The fastest way to transfer money there is through WorldRemit. With WorldRemit, you can usually expect your money to reach its destination in Ghana in a matter of minutes. In many cases, it can take less than an hour or just a bit longer. They also offer a better deal than most of the similarly fast services do.
Other fast options include the faster versions of Xoom and Western Union, among others. The main problem with these fast services is that they are very expensive.
TransferWise offers the best deal to send money that is both cheap and reasonable. With TransferWise, you can expect only a small upfront fee when it comes to GHA (Ghana). Their hidden conversion rates are also very low.
TransferWise also happens to be the easiest way to send funds. With TransferWise, you just need to tap an amount of money to be sent, then you tap the destination. After that, you just need to complete the payment to TransferWise.
TransferWise is easy not only because of their simple transfer processes, but because it is a generic service that makes it easy for senders and recipients alike.
TransferWise offers the overall best deal to transfer funds to Ghana. They offer a great balance between speed, cost, and ease of use that makes them quite competitive. You can expect transfers to be relatively fast, but slower than much of the competition. However, you can always expect an easy and affordable means to transfer money if you use TransferWise.