How To Buy Dollars In Ghana

Cheap Ways to Buy Dollars In Ghana

1. Stop by Your Local Bank

Many banks and credit unions sell foreign currency. Some financial institutions order currency and ship it to their customers’ homes. That may be a convenient way to get the money you need for your trip. But if you have to pay shipping fees, you could lose a lot of money in the process.

A cheaper way to get access to foreign currency is to buy it from your local bank branch in person. You may not have to pay a fee at all. And banks often get access to the best exchange rates.

2. Visit an ATM

5 Cheap Ways to Exchange Currency

If you work long hours and you can never make it to the bank before it closes, your next best bet is to stop by an ATM before leaving the country. As long as it’s within your bank’s network, you should have to pay little to no fees for your withdrawals.

You can also find out whether your bank has a foreign affiliate. If it does, you may be able to withdraw funds from one of their ATMs. If there are fees that you have to pay, it might be a good idea to take out as much money as you can at one time.

3. Consider Getting Traveler’s Checks

Another way to exchange currency is to purchase traveler’s checks. Many traveler’s checks come from American Express, but you can get them from most banks or credit unions. You may be able to buy them from your bank or credit union, but you’ll likely have to pay a small fee. Again, going into the bank and buying them from a teller is a good idea if you don’t want to pay extra to have them mailed to you.

If you can’t get traveler’s checks from your own bank, there may be another bank in your vicinity that sells them. Many traveler’s checks come from American Express. If you visit its website, you can enter your address and get a list of the closest banks that provide traveler’s checks. But the fee you’re required to pay may be higher if you don’t have an account with the bank.

The good thing about traveler’s checks is that you can easily order additional checks if you lose them or someone steals them. Plus, once you have them, you’re the only person who can trade those checks in for foreign currency. The downside is that not all businesses let you use them to make purchases. So you’ll probably have to find a bank once you get to your destination that’ll let you cash them in.

An alternative is to find a prepaid travel credit card, like the ones offered by American Express and MasterCard. They offer some of the same benefits that traveler’s checks provide.

4. Buy Currency at Your Foreign Bank Branch

Opening a bank account in a foreign country might make sense if you frequently travel there. If the bank sells currency, you could wait until you arrive to get the funds you need. But setting up an account may take time. So you’ll either need to do it in advance or open the account so you can access it later during your next trip.

5. Order Currency Online

There are various online bureaus that sell foreign currency. But to get the most money at the cheapest rates, you’ll need to do some research. Travelmoneymax.com is just one website that makes it easy to compare different bureaus and find the ones with the best exchange rates. You may be able to avoid paying a shipping fee by ordering large amounts of currency.

How much is the dollar selling in Ghana?

1 USD6.1741 GHS
5 USD30.8705 GHS
10 USD61.741 GHS
25 USD154.352 GHS
50 USD308.705 GHS
100 USD617.41 GHS
500 USD3,087.05 GHS
1,000 USD6,174.1 GHS
5,000 USD30,870.5 GHS
10,000 USD61,741 GHS
50,000 USD308,705 GHS

How much does it cost to open a dollar account in Ghana?

Banks such as Fidelity Bank, Prudential Bank, ADB, Access Bank, Standard Charted Bank, and Ecobank all require you have at least 100 dollars as a deposit before they open a dollar account for you. While the likes of Bank of Baroda, GCB and Universal Merchant Bank (UMB) will require at least 200 dollars.