Foreign Exchange Guide to Ghana
In this guide we review :
- Ghanaian cedi info - general info about the Ghanaian cedi
- Travelling in Ghana - currency & money saving tips
- Buying Ghanaian cedi cash online - travel money for Ghana
- Sending money to Ghana - save on Ghanaian cedi bank transfers to Ghana
- Ghanaian cedi exchange rates - latest info & charts.
Ghanaian cedi (GHS) general currency information
Ghana currency and money saving tips
The currency is the Cedis. ATMs are virtually everywhere, with almost all accepting Visa. Exchange bureaus are found in most major towns. Other than that bring only cash or traveler’s checks to exchange into cedis. There are forex bureaus everywhere in Accra, and many of the bigger hotels. It is difficult to find banks and/or businesses in Ghana which accept credit cards other than Visa. Credit card fraud is common. Try to keep your card in sight when making purchases.
If you are planning to drive in Ghana, an international driving licence or international driving permit is accepted for periods up to 12 months. Beyond 12 months, you will need to get a Ghanaian driver's licence. Poorly maintained roads and vehicles, aggressive driving practices, poor street lighting, roaming livestock, pedestrians and cyclists pose safety risks, especially when driving at night and outside urban areas.
Ghana has some pretty restrictive laws to keep in mind. Such as: Taking photographs of or near government buildings or other infrastructure, including oilfields, can lead to detention. Homosexuality is illegal and criminalised as a misdemeanour in Ghana, punishable by imprisonment of up to three years. Same-sex marriages are not recognised by law. There are conservative standards of dress and behaviour in Ghana. Take care not to offend. If in doubt seek local advice.
Ghana Trip Checklist
Travel money for Ghana
Save money and time by Ordering your Ghanaian cedi online from Travelex, you get better rates and can pick up the GHS cash locally or even on travel day at the airport.
Another popular option is to use a Pre-paid Travel Card. Your Debit/Credit Card provider will charge you 2% from market mid-rate, but your bank may also charge an extra 3% as an “Overseas Transaction Charge” plus “Overseas ATM” fees for withdrawing cash.
For card purchases if offered a choice of currencies always select to Pay in Ghanaian cedi otherwise you may get much worst exchange rates.
Sending money to Ghana
When sending money to Ghana it’s important to compare your bank’s rates & fees with those we have negotiated with our partner money transfer providers. To get a better deal you should follow these 3 simple steps :
- Open an account with a BER reviewed FX provider (id docs may be required)
- You specify the local or Ghanaian cedi amount you want to transfer
- Make a local currency domestic transfer for the requested amount to the provider's bank account in your country
- Once your funds are received by the provider the converted GHS amount will be transfered to the recipient account you specify in Ghana.
By comparing the rates of FX specialist providers rates versus your bank's standard rates you can hopefully save around 5% and maybe more - end result is more Ghanaian cedi deposited into the recipient bank account in Ghana and less margins and fees kept by the banks!