Globalisation has significantly transformed how we manage money around the world, especially with digital bank transfers and mobile money. You can now easily send and receive local and international funds without the hassle of tedious paperwork or long commute hours to a physical bank.

However, receiving US dollars in Ghana is still not as seamless as many would like, especially for people without foreign accounts.

In this post, we’ll review ways you can receive dollars in Ghana safely and securely.

How to receive US Dollars in Ghana

If you’re receiving money from a loved one or business associate, here’s a list of ways to do it safely in Ghana:

Money transfer services

Money transfer services allow dollars to be transferred from the sender to the recipient. The recipients can either receive the money directly in their bank account or pick it up at a physical location. These money transfer services include Afriswap, Bureau De Change, Western Union, Money Gram, and Ghana Access Money.

You can also receive your US dollars by visiting the nearest physical location of your preferred service. However, one disadvantage of using money transfer services is that you have to carry large amounts of cash around, but services like World Remit allow direct funding into your account.

Domiciliary accounts:

Local banks are another way to receive USD. These banks issue domiciliary accounts to their customers. The details include an account number, swift code, and routing number used for a bank transfer. These transfers are within the timeline of 24-72 working hours.

Although receiving money can be swift, you can only withdraw your cash over the counter. To access the funds, you will have to visit your bank and fill out a withdrawal slip. Customers also have the option to either keep the funds in dollars or convert them to their local currency after withdrawal.

Grey:

Grey is a major player in the financial sector in over 40 countries. You can get a free UK, EU, or US bank account to receive foreign payments like USD or euros. Once you’re issued a foreign account, you can share the details with a sender and begin to receive funds.

Once you receive your USD, you have the option to keep the funds in your account or swap them for cedis and withdraw them to your local bank or mobile money account.

Also read: How to receive US Dollars in Nigeria with Grey

To receive USD in Ghana seamlessly and securely, we recommend creating a Grey foreign  account and here’s why:

1. Creating an account is stress-free, as you can do it from the comfort of your home. You only need a stable internet connection, a smartphone, and a valid ID to create a USD account.
2. You can easily receive, convert, and withdraw foreign payments into your local bank account from your mobile or web app.
3. Instant withdrawal into your bank account when you need your funds—no physical agents and no carrying cash around.
4. Competitive rates
5. Opening a Grey US bank account is free; no minimum balance is required.

Receive your US Dollars in Ghana with Grey.

Now that you understand how to receive dollars in Ghana safely and securely, here’s a step-by-step guide to help you create a Grey US bank account:

1. Open a Grey account by signing up here.
2. Fill in your biodata with the correct information shown on your government-issued ID.
3. Verify your identity by taking photos of your government-issued ID and face verification.
4. Once your KYC verification is approved, proceed to “Request a US bank account”.
5. Confirm your name before proceeding.
6. Your USD account is ready!

Ready to simplify your international transactions? Sign up for Grey today and start receiving US dollars effortlessly.