Ghanaian remittance market in the services-driven economy (52.16% of Ghanaian GDP), as per the International organization for Migration, is highly unfavorable for the individuals and businesses availing these services. Among all the Sub-Saharan countries, customers have to pay the highest transaction fee varying from 6 to 7% to 12% or even more while sending money to Ghana.

For a country in which remittance, as per the World Bank, contributed to 13.34% of the overall GDP in 2015, and 7.47% in 2017 (as per the most recent statistics), it is important for the remit senders to get the best quote for the services they are availing now and then. Even though Ghanaian online money transfer is bigger than the $2.2 billion dollar market, yet while transferring funds from USA to Ghana through some ‘reliable’ channels, in some cases, customers pay an astounding 20% interest on the total transfer.

Although the accessibility of the platform, the speed of money transfer to Ghana from the USA, and reliability play a major role in the decision of a majority of the customers choosing specific platforms, it is evident that the overall market is evolving; the customers are looking out for better services, and the international money transfer service providers are putting their best efforts to decrease their operational costs by using a more advanced technology to facilitate the need of their customers. Therefore, it is important for a genuine service provider to understand the value of customer acquisition by providing them with the best service(s).

Read: Report by News Ghana

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No Need to Pay High Cost of Remittance to Ghana Anymore. Register Now!

Challenges and Solutions

Although Ghanaian AML/CFT laws are necessary to curb illegal transfer of money from one country to another, the step of de-risking taken by the banks has undoubtedly put a majority of remittance seekers in jeopardy. The Ghanaian government till date cannot keep a check of the illegal and untraceable flow of money into the country. This makes it important for the citizens to choose a platform that provides security from de-banking and re-risking while providing 100% secure and fast online money transfer to Ghana.

At the same time, government agencies and financial institutions need to work on building up a highly sophisticated physical as well as a technological infrastructure capable of keeping a check on the money inflow. Therefore, all the banks of Ghana and hundreds of Ghanaian natives and immigrants in the USA trust and rely on FAZRemit’s online remittance services to Ghana.

Why FAZRemit Could Be Your Choice?

At FAZRemit, we ensure that every single customer gets the best of the pot. Although we are constantly improving and upgrading our services through the feedback of our team members as well as customers, we abide to provide:

  1. The cheapest money transfer rates to send money to Ghana
    • The pricing is highly transparent without any hidden fee right from the first point of contact till the time you make transactions, and beyond. So, with FAZ, you do not have to pay a high cost of remittance to Ghana!
  2. The most reliable platform
    • While you send money to a beneficiary, we ensure that the amount that you are sending gets to the right person within the right time. This makes it safe for the customers as well as the law-abiding agencies as every single transaction via FAZRemit is fully accountable and safe.
  3. The fastest transactions
    • As soon as the sender, as well as the receiver, are verified, the state-of-the-art technology employed in our online money transfer platform ensures that within the business hours, i.e. 9 am EST to 5.30 pm EST, all the transactions are processed instantly. After the aforementioned time, our system queues up all the other transaction and puts them on a high priority list.
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Register on the Fastest, Cheapest and Most Affordable Platform to Send Money from US to Ghana, Nigeria and Kenya

So, as soon as our algorithm completes your KYC verification, you, the customers are ready to make the transactions. With FAZRemit, you do not have to compromise with anything. Be it the speed, accessibility, price, or reliability, all the quality parameters are up-to-date and the best; just like a customer aspires for and a FAZRemit’s client deserves!

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