Mobile money transfer has become a popular method of remittance globally. Millions of people are realizing that money transfer apps are much easier, cheaper, and faster to use in sending money. At the same time, more and more money transfer app startups are emerging. This often leaves the end user with limitless options on the table. This is both a good and a bad thing – depending on which side of the table you’re looking from. But we’re here to make the burden a lot easier for you. We will help you know the best money transfer apps to use when sending money to Ghana.
But first, it would make a lot of sense to look at some of the most important factors that you need to look at when selecting money transfer apps to send money to Ghana. So, without wasting any more time, here are the factors to consider:
Safety
When choosing money transfer apps, it is key that you evaluate their safety standards. How prepared are they to deal with cyber criminals and online attacks? This should guide you in choosing an app that has the security of its clients in mind.
The best way to know the money transfer apps that have the right level of security is by checking their certifications and compliance. Do they have the legal authority to send and receive transactions on behalf of individuals? What level of compliance do they have in regard to safety standards in the financial industry? These are some of the questions that you should seek answers for.
In addition, customer reviews and feedback can also help you learn about the company’s online reputation. Are they trustworthy based on what many previous clients say? Or do many of the previous clients state that their services are illegitimate? Take into account what reviews say as they mostly are accurate.
Fees
The other thing that you’ll need to consider is how much the money transfer app is charging you per transaction. You need to keep your eyes open for hidden charges, which often inflate the final fees that you have to part with.
Some of the fees that you can expect to pay to include currency conversion charges, cable costs, administrative charges, and the upfront transfer fee. Often, unscrupulous apps will have you paying hidden fees such as SWIFT fees, cash advance fees, and correspondent bank charges.
Payment Methods
How does the money transfer service let you fund your account for the transfer? Good money transfer apps should be flexible in the number of ways that you can fund your account. They should easily allow you to fund your account using debit cards, credit cards, bank transfers, and even a check. These options may affect how much you’re going to spend on the transaction. Therefore, you need to watch out for the best way to fit your needs.
Processing Time
How long does it take for the money transfer service to transfer funds to the recipient’s account? International transfers often take anywhere between minutes and days to arrive. But typically, a good money transfer app shouldn’t have your recipient waiting for more than 24 hours to receive funds. Well, unless there’s a valid reason for the delay.
Also, a good money transfer service will keep you up to date with the entire transaction trajectory, until it reaches the recipient.
Exchange Rate
The current exchange rates will determine how much you’re going to spend when sending money to Ghana. All money transfer apps set their own exchange rates. However, you should go with the one that uses the mid-market exchange rate, which is a lot fairer.
To find the mid-market exchange rate, you can perform a quick online search. If the mid-market rate has a huge disparity compared to the app’s exchange rate, then you need to consider other options. After all, you want to get a better deal for your money.
Money Transfer Apps to Send Money to Ghana
Now, we’ve come to the primary section of the article where we share with you the best money transfer apps to send money to Ghana. Here they are:
Afriex
Afriex has gained the trust of millions of people within and without the African continent. Therefore, more and more people are using the service to send money to Ghana. It has fair rates and a quick transfer speed. The app also features sophisticated security features aimed at safeguarding its clients.
WorldRemit
WorldRemit started as an alternative to help reduce the costs of sending money internationally. And they did achieve their mission as they are among the cheapest, safest, and fastest money transfer apps on the African continent and even the global space.
Western Union
Last on our list is this decades-old app. It has gained the trust of millions all over the world, including in Africa. Therefore, you can use it to send money to Ghana conveniently. The best part is that Western Union has a large network of agents spread out in Ghana. Therefore, you can count on this service to send money even to the most remote places.
Final Thoughts
That’s about it when searching for money transfer apps to send money to Ghana. We hope that these tips will help and that you will make the right choice.
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