Managing payments from international clients isn’t rocket science. However, there is a science to it. Since remote work has been gaining more traction in Ghana, many freelancers have embraced working with international clients. Unfortunately, managing payments from international clients poses a struggle for many. Between forced conversion at unfair rates, high transaction charges, and delayed payment processing, managing international payments can be really frustrating. If this feels familiar, then we hope to help you leave that WhatsApp group. This article explores how Ghanaian freelancers manage payments from international clients.
Grey is a payment platform that offers you USD, GBP, and EUR in one place. This multi-currency account lets you receive payments from international clients as if they were local transactions. Then you can convert foreign earnings into Ghanaian Cedis (GHS) at competitive rates and withdraw funds directly into local bank accounts. If you work on global freelancing platforms such as Upwork, Fiverr, and Toptal, you can also seamlessly link these accounts as a payment method. Use built-in tools to create professional invoices and access a virtual USD debit card for global online spending and subscriptions. Grey also supports USDC transactions, giving you more flexibility to manage payments. Here’s how to get started with Grey:
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Payoneer is a widely used financial service in Ghana, allowing freelancers, online sellers, and businesses to receive payments in USD, EUR, GBP, and other currencies. Users can register on the Payoneer website or app and provide identity verification, such as a passport or ID. Funds can be withdrawn to local Ghanaian bank accounts or spent using the Payoneer prepaid Mastercard. Transactions sometimes take a few days to complete, and the charges are often on the high side. Here is how to get started on Payoneer:
Wise is reputable for low transaction charges, mid-market exchange rates, and no hidden markups. You can register for a Wise account in Ghana to hold and manage multiple currencies, including USD, EUR, and GBP. You can share the account with your clients to receive payments, convert to GHS, and withdraw to your local bank.
This is an emerging payment solution offering USD accounts to freelancers in Ghana to receive payments from international clients with ease. Cleva offers affordable and transparent charges with a virtual USD card for online purchases, international subscriptions, and payments. They currently run a 0$ deposit fee for transferring USD from Upwork to a Cleva account.
Also read: 5 red flags when choosing an international payment platform
If you still prefer the old-school traditional bank way, then wire transfers (SWIFT) work just fine. Your international client sends your payment directly to your Ghanaian bank account via SWIFT. It takes 3-5 days, and you'll need to provide your IBAN, SWIFT code, and bank details. It is usually more expensive and can considerably eat into your earnings. The money is also converted to GHC immediately, but it's secure for larger sums and doesn't require additional accounts. Some freelancers use this for long-term clients who prefer traditional banking.
Receiving international payments in Ghana in Crypto is another viable payment option for clients who understand how it works. It provides nearly instant payment processing and lower transaction costs than traditional payment solutions. Major platforms like Breet, TransFi, and Mybitstore enable instant conversion of crypto to Ghanaian Cedi (GHS), allowing direct withdrawals to bank accounts.
Also read: How to get an instant USD debit card in Ghana
If you find a Ghanaian freelancer still puzzled about managing international transactions, then they have been looking in the wrong places. Grey allows users in Ghana to receive international payments in GBP, USD, and EUR by providing foreign bank account details. After signing up, complete KYC with a government ID, and generate your foreign account details to share with your clients. Once the money arrives, you can hold it in foreign currency or convert it to cedis at competitive rates and withdraw it to your local bank account.
Sign up on Grey or download the app for seamless cross-border payments.
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