How to Send Money From Ghana to Nigeria

The increasing demand for efficient cross-border money transfers between Ghana and Nigeria makes understanding available options crucial. This guide outlines the processes and requirements for facilitating such transactions.

Methods for Sending Money

Individuals in Ghana have several established methods for sending money to Nigeria. Online money transfer services provide a digital approach, allowing users to send funds via websites or mobile applications. Platforms like WorldRemit, Remitly, Wise, Sendwave, ATL Money, Bitnob, and Yellow Pay facilitate transfers to bank accounts, mobile money wallets, or cash pickup locations. These services offer competitive exchange rates and transparent fee structures.

Traditional wire transfers, facilitated by commercial banks in Ghana, represent another reliable method for sending funds to Nigerian bank accounts. Major Ghanaian banks, such as Ecobank and Zenith Bank, offer international wire transfer services. While secure, these transfers may incur higher fees and can take several business days to process. Some banks offer specific services for direct transfers to their corresponding Nigerian branches.

Mobile money operators also offer cross-border transfers, providing a convenient option for sending funds directly to mobile wallets. Licensed Payment Service Providers (PSPs) facilitate such transfers for MoMo customers. Other companies have launched services connecting Ghanaian mobile wallets to Nigerian bank accounts and wallets, enabling instant transfers. These mobile money transfers often feature lower transaction fees.

Cash pickup services, such as Western Union and MoneyGram, offer an alternative for recipients without bank accounts or mobile money wallets. Senders deposit cash at an agent location in Ghana, and recipients collect funds in Nigeria by presenting identification and a reference number. This method provides instant or same-day access to funds, though fees might be higher compared to digital alternatives.

Essential Information and Requirements

Before initiating any money transfer from Ghana to Nigeria, gathering specific information and documents from both the sender and the recipient is necessary. Regulatory frameworks in both countries, particularly anti-money laundering (AML) and Know Your Customer (KYC) guidelines, mandate thorough identity verification. For senders in Ghana, a valid government-issued identification is mandatory, with the Ghana Card being the primary accepted document. Other accepted forms of identification include a non-citizen card, a passport, or a driver’s license.

Senders must provide their full legal name, contact details including phone number, email, and residential address, and information regarding the source of funds. The purpose of the transfer, such as family support, education, or business, also needs to be stated.

For the recipient in Nigeria, accurate and complete details are important. The recipient’s full legal name, as it appears on their official identification or bank account, is crucial. Their contact details, including a phone number and email address, are also required.

Depending on the chosen transfer method, specific payout details are necessary. For bank transfers, this includes the recipient’s bank name, account number, and, if applicable, the SWIFT/BIC code. For mobile money wallets, the recipient’s mobile network operator and registered mobile money phone number are essential. For cash pickup services, the recipient’s full legal name, matching their identification, and the expected pickup location are needed.

Senders must confirm the amount to be sent in Ghanaian Cedis (GHS) and understand the converted amount the recipient will receive in Nigerian Naira (NGN), along with any associated fees and the prevailing exchange rate. Many online platforms display these details upfront before the transaction is finalized. Adhering to these requirements facilitates a smooth transfer process, minimizing potential delays or complications.

Step-by-Step Transfer Process

Once all necessary information and documents have been gathered, initiating a money transfer can begin. The first step involves selecting a money transfer service based on preferences for speed, cost, and payout method. If using an online platform or mobile application, creating an account is the initial requirement, involving personal details and a verification process.

After account setup, the sender initiates a new transfer, specifying Ghana as the sending country and Nigeria as the receiving country. The amount to be sent is entered, and the system displays the converted amount in Nigerian Naira, along with any applicable fees and the current exchange rate. This transparency allows the sender to review the total cost before proceeding. The sender then inputs recipient details, including their full name, contact information, and specific payout details such as bank account number, mobile money wallet number, or the designated cash pickup location.

The next stage involves selecting the payment method from Ghana. Common options include linking a Ghanaian bank account, using a debit or credit card, or funding the transfer directly from a mobile money wallet. For bank-based transfers, either online or by visiting a physical branch, the sender completes an international transfer form and makes the payment. If using mobile money directly, the sender may dial a USSD code, select the international transfer option, and then enter the recipient’s mobile number and the amount, confirming with a PIN.

Before finalizing the transaction, it is important to review all entered details, including sender’s and recipient’s information, the amount, fees, and the exchange rate. Confirming these details helps prevent errors that could lead to delays or incorrect payouts. Upon confirmation, the payment is processed, and the sender receives a transaction reference number or tracking ID. This identifier is important for monitoring the transfer’s progress and for the recipient to claim funds, especially for cash pickups.

Receiving and Tracking Funds

After a money transfer has been initiated from Ghana, both the sender and the recipient can monitor its progress. For the recipient in Nigeria, notification of incoming funds arrives via SMS or email once the money has been processed. The method of accessing the funds depends on the payout option selected by the sender. If sent to a bank account, the recipient can verify the deposit by checking their account balance through online banking, mobile banking applications, or an ATM.

For funds sent to a mobile money wallet, the amount is credited instantly, and the recipient can access it directly from their mobile money account. They can then use the funds for transactions or withdraw cash from an authorized agent. If the sender opted for a cash pickup, the recipient must visit a designated agent location with a valid government-issued identification and the transaction reference number. The agent verifies their identity against the details provided by the sender before releasing the funds.

From the sender’s perspective, the transaction reference number or tracking ID is essential for monitoring the transfer’s status. Most online money transfer services offer a tracking feature on their websites or mobile apps, allowing senders to view the real-time progress.

In the event of delays or issues, immediate action is important. Both the sender and recipient should contact the customer support of the money transfer service directly, providing the transaction reference number and any relevant details. Service providers are equipped to investigate discrepancies, offer solutions, and provide updates on the transfer’s status.