09 Apr 2025
Choosing the correct transfer method can save you time, money, and stress if you're planning to send money to Ghana from Canada. Many Ghanaian expats, international students, and workers living in Canada frequently support loved ones back home, making secure and cost-effective transfers a top priority. Among the available options, EFT (Electronic Funds Transfer) and wire transfers are widely used—but which one is right for your needs?
Both methods offer different benefits and challenges. EFTs may be familiar to those using online banking, while wire transfers are traditionally favored for international transactions. Understanding the differences between these options is key to making smart financial choices. Whether you're paying school fees, sending gifts, or supporting family, the method you use impacts the speed, cost, and safety of the transfer. This article helps you compare both methods and introduces a better alternative to sending money online to Ghana from Canada quickly and reliably.
An EFT (Electronic Funds Transfer) allows you to transfer money electronically from one bank account to another. This method is commonly used for both domestic and international payments, including sending money from Canada to Ghana, depending on your bank’s capabilities.
The process involves digitally instructing your bank to move money to a recipient’s account. You can do this via:
While EFTs are convenient, especially if you already use online banking, they may not always work smoothly for international transfers. Some Ghanaian banks do not support incoming EFTs from Canada, which can cause failed transactions or unexpected delays.
According to World Bank data, the global cost of remittances remains high, highlighting the need for affordable alternatives to traditional banking methods.
A wire transfer is a digital transaction that moves money between banks, typically across countries. Individuals and businesses often use it to make secure, large-scale payments, making it a popular option to send money to Ghana online from Canada.
To initiate a wire transfer from Canada, you’ll typically need:
Read All You Need to Know About Wire Transfers
Wire transfers can be a reliable method to send money from Canada to Ghana, but the added costs and paperwork might not be worth it for smaller, frequent transfers.
When choosing how to send funds internationally, it's essential to compare the two methods. The decision largely depends on your needs for speed, cost, and convenience.
For most users looking to send money from Canada to Ghana, the ideal solution balances speed, cost, and reliability, which are only partially covered by these two options.
While both EFT and wire transfer methods are used for international remittances, they have several limitations that can affect your experience.
EFTs can take longer due to multiple processing steps and time zone differences.
Wire transfers are notorious for their high transaction fees, often including hidden charges deducted from the recipient’s amount.
Some banks in Ghana do not support EFTs from Canadian accounts, leading to failed or delayed transfers.
Banks may not offer favorable exchange rates, so converting Canadian dollars to Ghanaian cedis could cost you money.
Navigating international banking requirements can be overwhelming and time-consuming for those new to the process or without banking expertise.
If you're facing any of these challenges while trying to send money to Ghana from Canada, it’s worth exploring alternatives explicitly designed for remittances.
If you’re tired of delays, high costs, and limitations, ACE Money Transfer is the better way to send money online to Ghana from Canada. Designed for speed, security, and affordability, it offers you a complete solution for your remittance needs.
With ACE, you can send funds conveniently using your mobile or computer. The entire process is designed to make your experience stress-free, especially when you need to send money from Canada to Ghana on short notice or regularly.
Choosing between EFTs and wire transfers depends on your personal needs, but both options have notable drawbacks. EFTs are cost-effective for domestic use but may face international limitations. Wire transfers are faster but expensive and complicated. If you’re looking for the best of both worlds—speed, security, and affordability—ACE Money Transfer is the more brilliant option for Ghanaian expats, international students, and workers.
With its easy-to-use platform, multiple payout methods, and excellent exchange rates, ACE offers a complete solution for those who frequently send money to Ghana from Canada. It removes the stress of navigating through banking rules and high fees, making it easier to support your family and meet your financial goals. Don’t settle for outdated banking methods when a better alternative is just a few taps away. Sign up with ACE Money Transfer today and experience the best way to send money to Ghana online from Canada—quick, easy, and secure.
ACE Money Transfer is one of the most affordable options available. With lower fees and better exchange rates than traditional banks, it offers excellent value for your money.
Using ACE Money Transfer, your money can reach your recipient within minutes, depending on the method chosen. Wire transfers take up to 3 business days, and EFTs may take longer.
Yes, ACE Money Transfer uses encrypted technology and fraud monitoring systems to ensure your transactions are secure and compliant with international standards.
Yes, ACE supports mobile wallet payouts, allowing recipients to access funds quickly via mobile money services commonly used in Ghana.
You typically need a valid government-issued ID, your recipient's details, and a payment method like a debit or credit card. Verification helps ensure secure and legal transactions.
