VALR Pay: The Best App to Send Money Between Ghana and South Africa
There are multiple ways to transfer money between Ghana and South Africa. Some of the most popular include wire transfers, Western Union and M-PESA. The easiest way today is with the VALR Pay app, instantly and without any fees.
Let's see how VALR Pay compares with these other popular ways to send money between the two countries.
5 Ways to Transfer Money Between Ghana and South Africa
International Bank Transfers: International bank transfers are among the most popular ways to send money to Ghana from South Africa (and vice versa). To initiate the transaction, both the sender and the recipient need to have a bank account. In addition to filling out complex forms, the downsides of this method include expensive fees and long processing times due to the transfer moving through multiple correspondent banks before reaching the recipient's financial institution.
Mobile Money Services: As an alternative to international bank transfers, you can also send a mobile money with a solution like M-PESA or Orange Money using your smartphone. While mobile money services feature cheap costs, instant transactions, and broader coverage, their security is tied to local regulations and your mobile network.
Money Transfer Services: With Western Union, Ria, MoneyGram, and other money transfer services, you can send cash that can be picked up by the recipient in numerous locations globally. These providers have worldwide coverage, including in Ghana and South Africa. Money transfer services feature robust security, yet their fees can become expensive based on the sender's and the recipient's locations.
Digital Wallets: Digital wallets like MoMo, GhanaPay, and PayPal allow you to store, send, and receive money conveniently via their platforms. While these services provide instant transfers and have advanced security measures to combat fraud, not all are available in both South Africa and Ghana. Also, they can feature high costs, especially when converting between two currencies.
VALR Pay: VALR is a crypto exchange from South Africa that's licensed from the country's financial regulator. With its free app VALR Pay, you can transfer money from Ghana to South Africa and South Africa to Ghana instantly and without any fees. It's also easy to use - you only need a mobile number, email address, or VALR Pay ID to initiate a transaction.
How to Use VALR Pay to Send Money Between South Africa and Ghana Instantly and Without Fees
With VALR Pay, you can send money between South Africa and Ghana instantly with zero fees. It is a free money transfer app that supports immediate payments in over 70 cryptocurrencies and a wide range of fiat currencies.
VALR Pay also supports top stablecoins like USD Coin (USDC), Tether USD (USDT), and PayPal USD (PYUSD), which you can leverage to minimise volatility-related risks when transferring funds between Ghana and South Africa.
With VALR Pay, you don't need to worry about a complex user experience, either. If you have a VALR account, you only need the recipient's phone number, email address, or VALR Pay ID to initiate an instant transfer to South Africa, Ghana, and beyond without any fees.
Looking to get started? Follow the easy steps below to transfer money between Ghana and South Africa with VALR Pay:
1. Sign in to VALR
Navigate to VALR's website or install the VALR application (iOS or Android) on your smartphone. Click "Get Started" or head to this link to create a new account. If you already have a VALR account, tap "Sign in" and enter your credentials.
2. Navigate to VALR Pay
Head to the "VALR Pay" menu and select "Pay" to transfer money to your recipient in Ghana or South Africa.
3. Select asset and amount to transfer
On the next page, select the stablecoin, crypto, or fiat currency to send to the recipient, as well as the transfer amount.
4. Enter recipient’s details
Choose whether to transfer funds to the recipient's email, phone number, or VALR Pay ID. Enter the recipient's details and select whether to add a message to the receiver or a note for yourself. You can also tick the box next to "Send anonymously" for additional privacy.
5. Complete the transaction
After ensuring the accuracy of the details, click "Next" and execute the transaction via the "Pay now" button.
To get started with free and instant money transfers between South Africa and Ghana, create a VALR account today!
Risk Disclosure
Trading or investing in crypto assets is risky and may result in the loss of capital as the value may fluctuate.
VALR (Pty) Ltd is a licensed financial services provider (FSP #53308).
