Best Bank in Ghana for expats (Asian) for Money Transfers.

Last activity 21 May 2017 by hkann

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drazonableMember21 May 2017 15:19:08

I wish someone can help me decide in choosing which bank to apply with. Its my 3rd day here in Ghana(Tema). I also read in previous threads that western union is only for "receiving" money. Someone also told me that if my salary was transfered to a bank by my company, then it will be taxed.
Im still struggling on how i can send money back home in Philippines. I dont even have a bank account back home. Please help me.

hkannGhana Expert21 May 2017 16:41:14

1175

I suggest you discuss this with your employer and then open a bank account at a convenient bank close to your home or place of employment. If your company is not going to pay you here where will they pay you?
If they pay you in the Philippines then you can have money transferred here but be aware that there are lots of bank charges whichever way you transfer money

drazonableMember21 May 2017 16:59:19

I was told i will get paid by cash and in US currency. And my company warned me regarding the tax if i opened a bank account just to transfer money back home. But i have no clue what and when the salary will be taxed. Difference between current or savings account. I feel like a total noob in banking.. Thanks hkann btw.

hkannGhana Expert21 May 2017 19:46:05

1175

I'd be very careful with this as it sounds highly questionable. A reputable company must have a payroll and be subject to the laws of Ghana and would not be paying cash in hand. Be very careful as you need a contract etc to get a work permit and without a work permit and resident's permit and ID card you can't open a bank account.

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