Ghana

The following tables show how much it costs to remit money from Ghana to

Note: Corridor averages are unweighted and do not reflect the market shares of the different firms that compose the average. For comparability purposes, the two initial USD reference amounts of $200 and $500 were kept. In the third quarter of 2009, the amounts in local currency were adjusted in order to reflect foreign exchange fluctuations.

How much does it cost to remit?

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Remitting from Ghana to Nigeria

Collection period for Third quarter 2009

See prices in GHS | USD

300750

				Total cost
Firm name	Firm type	Fee (GHS)	Exchange rate margin (%)	Percent (%)	GHS	Transfer speed	Network Coverage	Date
Guaranty Trust Bank	Bank	9.00	0.00	3.00	9.00	Less than one hour	Nationwide	Aug 14, 2009
United Bank for Africa (UBA)	Bank	28.00	0.00	9.33	27.99	3-5 days	Nationwide	Aug 14, 2009
Zenith Bank	Bank	32.25	0.00	10.75	32.25	3-5 days	Nationwide	Aug 14, 2009
Stanbic Bank	Bank	35.25	0.00	11.75	35.25	3-5 days	Nationwide	Aug 14, 2009
Stanbic Bank	Bank	45.25	0.00	15.08	45.24	3-5 days	Nationwide	Aug 14, 2009
Bank Average		29.95	0.00	9.98	29.94
Total Average		29.95	0.00	9.98	29.94

	Total cost
Firm name	Firm type	Fee (GHS)	Exchange rate margin (%)	Percent (%)	GHS	Transfer speed	Network Coverage	Date
Guaranty Trust Bank	Bank	22.50	0.00	3.00	22.50	Less than one hour	Nationwide	Aug 14, 2009
United Bank for Africa (UBA)	Bank	32.50	0.00	4.33	32.48	3-5 days	Nationwide	Aug 14, 2009
Zenith Bank	Bank	35.63	0.00	4.75	35.62	3-5 days	Nationwide	Aug 14, 2009
Stanbic Bank	Bank	43.13	0.00	5.75	43.12	3-5 days	Nationwide	Aug 14, 2009
Stanbic Bank	Bank	53.13	0.00	7.08	53.10	3-5 days	Nationwide	Aug 14, 2009
Bank Average		37.38	0.00	4.98	37.35
Total Average		37.38	0.00	4.98	37.35

Corridor note

In this corridor all RSPs send and pay out in USD. At the point of collection, the money may be converted to the local currency or paid out in USD. Remittance recipients may incur an additional cost (not shown here) if and when converting the USD to the local currency.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Guaranty Trust Bank	Bank	6.00	0.00	3.00	6.00	Less than one hour	Nationwide	Aug 14, 2009
United Bank for Africa (UBA)	Bank	18.67	0.00	9.33	18.66	3-5 days	Nationwide	Aug 14, 2009
Zenith Bank	Bank	21.50	0.00	10.75	21.50	3-5 days	Nationwide	Aug 14, 2009
Stanbic Bank	Bank	23.50	0.00	11.75	23.50	3-5 days	Nationwide	Aug 14, 2009
Stanbic Bank	Bank	30.17	0.00	15.08	30.16	3-5 days	Nationwide	Aug 14, 2009
Bank Average		19.97	0.00	9.98	19.96
Total Average		19.97	0.00	9.98	19.96

	Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD	Transfer speed	Network Coverage	Date
Guaranty Trust Bank	Bank	15.00	0.00	3.00	15.00	Less than one hour	Nationwide	Aug 14, 2009
United Bank for Africa (UBA)	Bank	21.67	0.00	4.33	21.65	3-5 days	Nationwide	Aug 14, 2009
Zenith Bank	Bank	23.75	0.00	4.75	23.75	3-5 days	Nationwide	Aug 14, 2009
Stanbic Bank	Bank	28.75	0.00	5.75	28.75	3-5 days	Nationwide	Aug 14, 2009
Stanbic Bank	Bank	35.42	0.00	7.08	35.40	3-5 days	Nationwide	Aug 14, 2009
Bank Average		24.92	0.00	4.98	24.90
Total Average		24.92	0.00	4.98	24.90

Corridor note