Receiving money from outside Ghana, particularly from places like America, Europe, and other parts of the world, has historically posed challenges.
Many existing services are often time-consuming and involve third parties, leading to delays and reductions in the amount received by the intended recipient.
To address these challenges, we’ve identified a more efficient solution for receiving money from abroad TransferWise, now known as Wise.
Wise offers a streamlined and cost-effective way to receive funds without the complications associated with traditional methods.
By opting for Wise, you can benefit from a straightforward and transparent process that minimizes delays and ensures that the intended recipient receives the full amount.
This service provides a reliable alternative for individuals seeking a more convenient and efficient way to receive money from international sources.
Table of Contents
Wise, What Is It?
Wise, formerly known as TransferWise, is a global financial technology platform that enables individuals to send money to destinations outside their current residence without being subjected to unfavorable exchange rate changes.
This service ensures that the exchange rate at the time of sending is maintained, providing transparency and consistency in currency conversion.
One notable feature of Wise is its minimal cost of operation. Senders are charged a fee that is generally competitive and transparent compared to traditional methods of international money transfer.
This cost-effective approach enhances the overall value and efficiency of the service.
Headquartered in the United Kingdom, Wise has emerged as a prominent player in the fintech industry, offering individuals a reliable and user-friendly platform for international money transfers with transparent pricing and fair exchange rates.
How To Register
Before using the platform, you will need to register for it for free.
- Visit the Wise website which is, http://Wise.com and then click on the ‘register’
- Choose ‘personal’ or ‘business’ depending on whether the account you are opening is for either personal transactions or business transactions. We will be using the ‘personal’ registration in this article
- Input your email address in the space that will be provided
- Set your password
- Select your country of residence from the list that will be provided in the ‘country of residence tab’
- Now click on ‘sign up
- Your new account will then be opened
How To Send Money Using Wise
Follow the steps below if you want to send money using Wise.
- In your user dashboard, click on ‘send money’
- Input the amount that you wish to send and the currency under the ‘you send’
- Among the three listed transfer fees, select the one that you prefer based on how fast you want the money to be sent
- Choose the country of the recipient. The date of receipt will be shown beside the recipient box
- Click ‘continue’
- Choose the mode of transfer, whether personal or business
- Enter your legal names in the name boxes provided
- Input your date of birth and then input your mobile number
- Input your address and then click on ‘continue’
- Choose the recipient of the money. For example ’someone else’
- Input the email address of the recipient
- Enter the account name of the recipient. It must be a full account name
- If you know the recipient’s account number, then you think the under ‘I know their bank details and then input the number. However, if you do not know, you should just leave the space empty
- Now click on ‘confirm
- You will need to upload proof of your identity like maybe a passport or driver’s license
- Now click on ‘start’ to begin the verification process
- Now click on ‘continue’ after you have reviewed all the details you just gave
- Select the method through which you will pay
- Your money will then be sent after you are done
One good thing about this is that there is an app that can be downloaded onto either Android or IOS.
The app allows users to keep a record of all their transactions as well as manage their money.
Conclusion
Wise, formerly known as TransferWise, is widely regarded as one of the best methods for sending money to Ghana, particularly due to its feature of minimal additional charges.
If you’re looking for a reliable and cost-effective solution for your money transfers to Ghana, Wise stands out as an excellent choice.
By using Wise, you can experience the advantage of transparent and competitive fees, ensuring that you get the most value out of your international money transfers.
Consider exploring Wise for your money transfer needs and discover the difference it can make in terms of efficiency, cost-effectiveness, and overall convenience.
