01 May 2025
Ghanaians in Romania often begin their journey with the goal of earning income to support their loved ones back home and to send money from Romania to Ghana. While precise figures are scarce, the Romanian expatriate community in Ghana remains relatively small. According to estimates, the global Romanian diaspora ranges between 4 and 12 million individuals, with a significant presence in Europe and North America. In Ghana, Romanians are primarily engaged in sectors such as energy, construction, and development, often collaborating with international organizations and NGOs.
For Romanian expatriates aiming to establish a financial foothold in Ghana, opening a local bank account is a crucial step. However, it's important to note that Ghanaian banks typically require non-citizens to possess a valid residence permit to open a personal bank account.
Banks such as Stanbic Bank Ghana and GTBank offer tailored services for non-residents, including diaspora banking solutions.
Transferring funds from Romania to Ghana has become more streamlined with various digital platforms:
Remitly: Offers swift transfers with competitive exchange rates and no hidden fees .
Paysend: Facilitates direct transfers to Ghanaian bank accounts or cards, typically processed on the same day.
Profee: Provides 0% fees on the first transfer, supporting various payment methods.
Understanding the cost of living is vital for effective budgeting:
Rent in Accra can vary, with city center apartments averaging higher than those in suburban areas.
Basic utilities for a standard apartment may cost around 702.07 RON (approximately $162.82).
Public transport is affordable, but owning a car can increase monthly expenses.
Local markets offer fresh produce at reasonable prices, while dining out can be more expensive, especially in expatriate-frequented areas.
Overall, while some expenses in Ghana are lower than in Romania, others, like imported goods and certain services, can be higher.
For Romanians sending money to Ghana, consider the following:
Opt for services with transparent fees and favorable exchange rates.
Familiarize yourself with Ghana's remittance regulations to ensure compliance.
Keep an eye on currency fluctuations to maximize the value of your transfers.
Schedule regular transfers to coincide with favorable exchange rates and minimize fees.
Navigating life as a Romanian expat in Ghana in 2025 brings both exciting opportunities and unique challenges. From understanding how to open local bank accounts to optimizing your remittance strategy and managing everyday expenses, financial awareness is key to a smooth transition. Building a stable foundation starts with the right planning and the right tools.
Leveraging secure and cost-effective money transfer platforms, like ACE Money Transfer, can significantly improve the financial experience for expats and their families back home. Whether it's budgeting tips or insights into cross-border finance, being informed can empower your expat journey.
With a stellar 4.8 out of 5 rating on Trustpilot from over 129,000 reviews, ACE Money Transfer continues to prove its dedication to secure, affordable, and efficient global transfers.
Yes, Romanian expats can open a bank account in Ghana by presenting a valid passport, proof of residence, and in some cases, a work permit or letter of employment. Local banks like GCB Bank and Ecobank are popular among expats for personal banking services.
Online money transfer platforms like ACE Money Transfer offer secure, fast, and low-cost ways to send money to Ghana. Transfers can be received directly into bank accounts or picked up as cash, depending on the receiver's preference.
On average, a single Romanian expat in Ghana may need around GHS 5,000–7,000 per month (~€400–€600), depending on their lifestyle, location, and housing preferences. Accra tends to be more expensive than smaller cities.
Typically, remittances sent to Ghana for family support are not taxed. However, it’s advised to consult with financial advisors both in Romania and Ghana to ensure compliance with local laws.
You can explore more articles on budgeting, international banking, and money transfer solutions. It’s a trusted resource for expats managing cross-border finances.
