Money Transfer Options for Ghanaians in Canada

When you live away from your family in a country with more financial stability, and you have the means to help people around you or back home, you realise sending money is not only transactional, it’s its own form of connection. A way to remind people that they are on your mind. So, whatever your reasons are for sending money — paying school fees, covering medical bills, or investing in property and business ventures, finding a reliable, cost-effective way to transfer money is essential.

Fortunately, Ghanaians in Canada have access to a wide range of domestic and international transfer options, including bank transfers and fast, affordable, and reliable apps. This article examines money transfer solutions available in Canada, including options for sending money to the UK, EU, and Dubai, as well as the best methods for sending funds to Ghana. It provides a breakdown of the most popular apps, their associated fees, pros, and cons.

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1. Money Transfer Options Within Canada

Transferring money domestically in Canada is quick and affordable, thanks to the country’s strong banking network and modern payment infrastructure.

Bank transfer options

• Interac e-Transfer – This is by far the most popular and convenient way to send money within Canada. Most major banks, including RBC, TD, CIBC, Scotiabank, and BMO, offer free or low-cost Interac transfers. They are processed almost instantly, with limits usually between CAD 3,000 and CAD 5,000 per day. Perfect for rent payments, shared utilities, and everyday personal transfers.
  
  
• Wire Transfers – Ideal for high-value transactions such as down payments, tuition, or significant investments. However, they can be pricey, with fees ranging from CAD 30 to CAD 80 per transaction.
  
  

Fintech app options

• Wise – Great for moving money between Canadian accounts in different currencies.
• PayPal – Still a solid option if both the sender and recipient have PayPal accounts, although fees can add up.
• Wealthsimple Cash – Offers fee-free peer-to-peer transfers, making it a good alternative to bank e-transfers.
• Pesa – Fast and easy fee-free transfers, and you can send money from your other wallets to people in Canada. 

If you frequently send money within Canada, look for bank accounts that include unlimited Interac e-Transfers — this can save you money over time.

2. Sending money outside Canada (UK, EU, Dubai)

With the rise of immigration, many Ghanaians in Canada have family, friends and dependents not just back home but across the globe. For instance,  siblings in the UK, business partners in the EU, or friends in Dubai. Here’s how to send money safely and affordably.

Bank options

Canadian banks are generally reliable, but they often charge high fees and add hidden costs through exchange rate markups.

• RBC International Money Transfer: No upfront transfer fee, but expect exchange rate margins.
  
  
• CIBC Global Money Transfer: Zero-fee transfers, usually completed within 1–3 days.
  
  
• Scotiabank International Money Transfer: Free or low-cost for newcomers, with a processing time of 2–5 days.
  
  
• TD Global Transfer: Convenient if you already bank with TD, but fees vary depending on destination.
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Fintech & Digital Transfer Apps

Wise: Transparent, low fees with mid-market exchange rates — great for bank-to-bank transfers.

WorldRemit: Offers bank deposits, mobile wallet transfers, and cash pickup options.

Remitly: Economy transfers are inexpensive (3–5 days), while Express is nearly instant.

OFX & XE: Best for large amounts (e.g., CAD 10,000+) due to competitive exchange rates.

Western Union / MoneyGram / Ria: Excellent for emergency transfers where cash pickup is necessary.

Pesa: With Pesa, Ghanaians in Canada can enjoy instant, fee-free transfers to friends and relatives in the EU, Nigeria or Dubai. Pesa is very efficient for fast and seamless transfers. 

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3. Sending money from Canada to Ghana

This is where many Ghanaians focus their attention on finding the cheapest, fastest, and most reliable ways to get funds to Ghana.

Best apps and services for Canada-to-Ghana transfers

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Pros and Cons of Digital Transfer Apps

Pros:

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✅ Lower fees than banks
✅ Faster transfers (many are instant)
✅ Convenient — all done from your phone
✅ Transparent exchange rates

Cons:

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❌ Daily or monthly sending limits (varies by app)
❌ Some require recipients to have a bank account or mobile wallet
❌ Small fees can add up with frequent small transfers

Tips to Save Money on Transfers

• Compare Exchange Rates: Always check rates across multiple platforms — a slight difference can save you a significant amount, especially for large transactions.
  
  
• Time Your Transfers: Avoid sending money when exchange rates are low — tools like Wise let you track and lock in rates.
  
  
• Send Larger Transfers Less Frequently: Many platforms waive fees for transfers of higher amounts (e.g., RemitBee for transfers of CAD 500 or more).
  
  
• Use Promotions: Many apps offer discounts for first-time users or referral bonuses for sharing with friends.
  
  

Whether you’re moving money within Canada, sending funds to the UK, EU, or Dubai, or supporting family in Ghana, you now have more choices than ever before.

For domestic transfers, Interac e-Transfer is the gold standard. For international transfers, fintech solutions like Wise, RemitBee, and Pesa are game changers, saving you money on fees and offering better exchange rates compared to traditional banks.

By comparing fees, timing your transfers, and utilising apps specifically designed for cross-border remittances, you can retain more of your hard-earned money and ensure it reaches your loved ones more quickly.