Money for Ghana

Don't buy Cedis outside Ghana, since the exchange rate will be dreadful (unless you manage to find a traveller with spare Cedis and work something out, of course). There is not problem about changing money at the airport.

Yes, a visa debit card would be fine so long as you had sufficient money in the account to cover your expenditure. A credit card is likely to come with higher fees, but of course it gives you more time to pay.

Since ATM machines in West Africa are generally out of action for about fifty per cent of the time, you might consider just bringing cash. Money changers are efficient and work on low margins (so you get good rates). If at all possible, ask a local person to recommend a good money-changer (in Ghana they call them Forex shops), and of course make sure that your travel insurance covers a reasonable amount of cash.

Oh: I went to the Vodoun festival in Benin (Ouidah) and I was not impressed: nice costumes and dancing but hundreds of tourists and virtually nothing about the reality of Vodoun.

It's been a few years since I've been in Ghana, but I'm wondering if there are a decent number of international ATMs in the airport? I know once you get into the city there are plenty that work, but I don't think I ever tried at the airport.

Whether or not there are ATMs at the airport, there is no guarantee that they will be working when needed. (The ATM at Cotonou airport was out of action for about three weeks at one point earlier this year.) What is certain is that there will be people there glad to exchange dollars for Cedi.

There are at least two Visa-capable ATM's at the airport (one in departures, one in the arrivals hall), and maybe more. Notwithstanding the statement above that they will be "out of action for about fifty per cent of the time," I've always found both reliable. In the unlikely event that one or both are not working when you arrive, that's why you carry a couple of 100 euro or dollar notes for emergencies, right?

OP, I'm not sure where "up here" is, but buying cedis in Europe or America and then worrying about ATM fees is just silly. Most people, including myself, eat the fees because it's safe and convenient. I'll carry some cash, but not the amount I need for travel in Africa. Depending on where you come from, there may be fee-free alternatives to whatever debit card you normally carry, but you'll have to look into that yourself.

It sounds like you're not fully clear on the fact that credit cards are not much good in Ghana (or in West Africa in general) except in expensive hotels and shops. Unless you're planning a high-end trip, you'll rely on carrying cash and/or using your debit card. If you are planning to use your credit card, you'll want Visa, not Mastercard.

Hope that helps.

Mark

In less than a month, I'll be in Ghana and will also go to Togo and Benin. Is it OK that I just bring US dollars or are euros better for Togo and/or Benin?

Thanks!

Dollars are fine in the capitals of Togo and Benin. I'm not sure how easy it would be to change money off the beaten track, so I suggest that you make sure you have enough CFA before you leave.

In Ghana my mastercard worked ok last winter, unlike in Mali or Burkina where only VISA is accepted. The banks were all pretty modern and when there was a problem in one bank, we just went to the next one around the corner. Every middle sized town should have an ATM accepting your mastercard.

Thanks for all the helpful info!
I wasn't looking into cedis as a way to avoid fees. I'm just trying to figure out the best way to handle my money so I have access to it while abroad.

I've only ever seen one ATM in the airport arrivals hall, right near the luggage carousels. There was a Forex office right next to it, which was open when I arrived at 8:00 pm.

Opening a local bank account is completely unnecessary and will be far more hassle than it's worth, if you could even do it. I would doubt it, since you are a foreigner and don't even have a local address.

Just bring an ATM card and not too much cash. ATM's are everywhere, even in some small towns. You'll get a decent exchange rate, and the convenience is worth the bank fee. I would caution you to use ATM's only when the bank is open so that you can go inside and reclaim your card in case the machine decides not to give it back. That happened to me once. Also, plan ahead and get enough cash so that you don't need to use an ATM over the weekend, for the same reason.

Ghana is a poor country with a developing financial infrastructure, meaning it is pretty much a cash economy. You will rarely see merchants or restaurants that are set up to accept credit cards. Despite knowing that, I brought my VISA card anyway because I had a long layover in Amsterdam and I knew I could use it at the Schiphol airport shops and restaurants. I was able to use it in one hotel in Ghana, but mostly not. You are correct that VISA is the better option in Ghana than Mastercard, but that's not saying much. :-)

Have fun!