USD business account in Ghana
A Ghanaian business can hold US dollars in a Foreign Currency Account (FCA) or Foreign Exchange Account (FEA) at a Ghanaian bank, in a USD account with a foreign provider that accepts Ghana, or through a US company. The FCA takes money from abroad and the FEA takes foreign currency earned in Ghana, and the Bank of Ghana sets the rules for both. This guide compares the options, the rules, documents and the legal position of stablecoins.
- Ghanaian banks offer two dollar accounts: the Foreign Currency Account (FCA), funded only from outside Ghana, and the Foreign Exchange Account (FEA), for foreign currency earned in Ghana such as export proceeds.
- Bank of Ghana Notice No. BG/GOV/SEC/2025/14 of 15 May 2025 confirms that over-the-counter cash withdrawals in foreign currency from FEAs and FCAs are allowed.
- A Bank of Ghana notice of 30 October 2025 requires exporters to repatriate proceeds through their nominated bank within 120 days of shipment, citing section 15(4) of the Foreign Exchange Act, 2006 (Act 723).
- Residents may not price, advertise or accept payment in foreign currency for goods and services in Ghana unless licensed by the Bank of Ghana, and the cedi is the sole legal tender for domestic transactions.
- Wise does not list Ghana among countries where customers can hold money and Airwallex does not list Ghana as a registration location, while WorldFirst and Eversend state that they serve Ghanaian businesses.
- The Virtual Asset Service Providers Act, 2025 (Act 1154) requires registration or a license for virtual asset services including stablecoin issuance, with the Bank of Ghana's application process due by the end of the third quarter of 2026.
USD business account options in Ghana: the short answer
A Ghanaian business can hold and receive US dollars in a foreign currency account at a Ghanaian bank, in a USD account with a provider outside Ghana that accepts Ghanaian companies, or through a US company with its own US account. Ghanaian banks offer two kinds of dollar account, the Foreign Currency Account (FCA) and the Foreign Exchange Account (FEA), and the Bank of Ghana (BoG) treats them differently. Choosing the right one is the first decision.
The businesses that need dollars in Ghana are varied. Importers of vehicles, electronics, building materials and food need dollars to pay suppliers. Exporters of cocoa, cashew, shea, timber and processed goods receive dollars and must bring them home under BoG rules. Agencies, software studios and consultancies invoice clients in the United States and Europe. Each has a different best route.
This guide covers the account types, the BoG rules on receiving, holding and paying out foreign currency, which foreign providers state that they accept Ghana, documents, the legal position of stablecoins under the Virtual Asset Service Providers Act, 2025 (Act 1154), and where a Helm USD account in the company's own name fits.
The options compared
The table compares the option types. It is not a ranking, and many Ghanaian companies use more than one.
| Option | Account name and location | How payers pay it | Main rules and limits |
|---|---|---|---|
| Foreign Currency Account (FCA) | Company's own name, Ghanaian bank | International wire (SWIFT) from abroad | Funded only from outside Ghana; no local foreign currency cash deposits |
| Foreign Exchange Account (FEA) | Company's own name, Ghanaian bank | Wire or deposit of foreign currency earned in Ghana | Takes export proceeds and other approved local sources; generally accepts cash |
| USD account with a foreign provider | Company's own name or a pooled account, held abroad | ACH, Fedwire or SWIFT, depending on the provider | Provider's country list decides eligibility; BoG export rules still apply |
| US company with a US account | A new US company's name, US bank or fintech | ACH and Fedwire as a US business | Separate company, US tax number and filings |
| Stablecoin wallet | Wallet address, not a bank account | USDC or USDT on a blockchain | Act 1154 licensing regime; not legal tender |
Sources: CBG product pages for the business FCA and the FEA; Bank of Ghana notices cited below. As published on 29 October 2026.
SWIFT is the international network banks use to send cross-border payments, identified by an 8 or 11 character bank code. ACH is the low-cost US domestic bank transfer system. Fedwire is the Federal Reserve's same-day system for large US dollar payments.
How to choose: an exporter of goods needs a Ghanaian account at its nominated bank, because the BoG requires proceeds to come back through that bank. A company paid from abroad for services fits an FCA. A company that earns dollars inside Ghana from a permitted source, such as invoices to non-residents, needs an FEA. A service business paid by US clients gains from US account details, because the client can then pay by ACH instead of an international wire.
FCA or FEA: which dollar account
The two Ghanaian account types differ in where the money may come from. CBG, one of Ghana's commercial banks, describes its business FCA as funded exclusively from outside Ghana and states that over-the-counter foreign currency cash deposits are not accepted locally. It describes its FEA as designed for foreign currency from export proceeds, local disbursements or other approved sources, and states that it generally accepts foreign currency cash deposits.
| Feature | Foreign Currency Account (FCA) | Foreign Exchange Account (FEA) |
|---|---|---|
| Source of funds | Transfers from outside Ghana only | Foreign currency earned or received in Ghana, including export proceeds |
| Foreign currency cash deposits | Not accepted | Generally accepted |
| Cash withdrawals in foreign currency | Allowed over the counter (BoG notice of 15 May 2025) | Allowed over the counter (BoG notice of 15 May 2025) |
| Check books | May be issued (BoG notice of 15 May 2025) | May be issued (BoG notice of 15 May 2025) |
| Currencies offered at CBG | USD, GBP or EUR | USD, GBP or EUR |
| Typical use | Payments received from clients and buyers abroad | Export proceeds and permitted local foreign currency receipts |
Sources: CBG, Business / Entity Foreign Currency Account (FCA) and Personal Foreign Exchange Account (FEA) pages; Bank of Ghana Notice No. BG/GOV/SEC/2025/14. As published on 29 October 2026. Other banks' terms may differ.
Keep the two apart. A payment from a US client belongs in the FCA. A dollar receipt from a source inside Ghana belongs in the FEA. Tell your bank which kind of inflow each account will receive when you open it, so payments are credited to the right one.
For a payment from abroad into an FCA, put these details on the invoice: the company's registered name exactly as on the account, the FCA account number (not the cedi account number), the bank's full name and SWIFT code, and the bank's US correspondent bank with its SWIFT code. A correspondent bank is a bank that holds an account for another bank and settles payments in its currency. Ask the payer to quote the invoice number and to use the OUR charge code. OUR, SHA and BEN are SWIFT charge codes: OUR means the sender pays all fees so the full amount arrives, SHA means fees are shared, and BEN means the receiver pays them.
Bank of Ghana rules on receiving, holding and paying out USD
The BoG regulates foreign exchange under the Foreign Exchange Act, 2006 (Act 723). Three sets of rules matter to a business holding dollars.
Withdrawals and payments out
In Notice No. BG/GOV/SEC/2025/14 of 15 May 2025, the BoG confirmed that over-the-counter cash withdrawals in foreign currency from FEAs and FCAs are allowed, and that check books may continue to be issued on them. For people without an FEA or FCA, foreign currency bought for travel is capped at US$10,000 or its equivalent per person per trip.
Pricing and invoicing in dollars
As reported by the Ghana News Agency in August 2025, the BoG restated that residents may not price, advertise or accept payment in foreign currency for goods and services unless specifically licensed by the BoG, and that the cedi is the sole legal tender for domestic transactions. Foreign currency invoices may be issued only to expatriates and non-residents, and those proceeds must be paid into an FEA with a licensed bank. Transfers for external payments must go through the banking system.
Export proceeds
A BoG notice of 30 October 2025, as reported by GhanaWeb, requires exporters to repatriate proceeds through their nominated bank within 120 days from the date of shipment, citing section 15(4) of Act 723. Sanctions may include a fine of up to 5,000 penalty units, imprisonment of up to 10 years, or both, for exporters who fail to justify non-repatriation. At a BoG sensitization program in October 2026, reported by the Ghana News Agency, the BoG described the 120 day period as an extension of the earlier 60 days.
| Activity | Rule | Source |
|---|---|---|
| Repatriating export proceeds | Within 120 days of shipment, through the nominated bank | BoG notice of 30 October 2025 |
| Letter of Commitment extension | Up to 60 calendar days, once, with documented justification | BoG notice of 30 October 2025 |
| Foreign currency cash withdrawals from FEA and FCA | Allowed over the counter | Notice BG/GOV/SEC/2025/14 |
| Travel foreign currency without an FEA or FCA | US$10,000 per person per trip | Notice BG/GOV/SEC/2025/14 |
| Invoicing in foreign currency | Only to expatriates and non-residents, paid into an FEA | BoG notice reported August 2025 |
| Domestic pricing | In cedis; the cedi is sole legal tender | BoG notice reported August 2025 |
Sources: Bank of Ghana Notice No. BG/GOV/SEC/2025/14 (15 May 2025); GhanaWeb report of the BoG notice of 30 October 2025; Ghana News Agency reports of August 2025 and 15 October 2026. As published on 29 October 2026.
A Letter of Commitment is the undertaking an exporter gives its bank to repatriate the proceeds of a shipment. For exporters, the practical point is that any foreign account used to collect a buyer's payment is a stop on the way, not the final destination: the proceeds still need to reach the nominated bank within the 120 days.
Foreign USD account providers and Ghana
Online USD accounts from providers outside Ghana are a common second account for Ghanaian businesses. Each provider sets its own country list.
| Provider | What its own pages state for Ghana | USD fees, as published |
|---|---|---|
| Wise | Ghana is not on the list of countries where customers can hold money | Not applicable |
| Airwallex | Ghana is not on its list of supported registration locations | Not applicable |
| WorldFirst | Its Africa offering is available across Nigeria, Ghana, Kenya and Morocco | Receiving payments listed at zero; other fees in its portal |
| Eversend | USD account details in your Ghanaian company's name, paid by ACH or wire | ACH received: 0.49% plus $0.49; wire received: 0.49% plus $10; no monthly fee |
| Mercury | Accepts only companies formed and registered in the United States or a US territory | Not applicable to Ghanaian companies |
Sources: the providers' own pages, linked below, as published on 29 October 2026.
Provider pages used: Wise country list, Airwallex eligible countries, WorldFirst Africa, Eversend Ghana and Mercury eligibility.
Before applying, confirm whether the details are in your company's own name, which rails they accept, and how you move dollars to your Ghanaian bank when the BoG rules require it.
The US company route
Some Ghanaian founders form a US company and open a US account in its name. Mercury requires the company to be formed and registered in the United States or a US territory, with existing or planned US operations, and states that founders do not need to be US citizens or residents. It also publishes a list of countries where founders cannot be supported.
The US company needs an Employer Identification Number (EIN), the US federal tax number for a business. The IRS instructions for Form SS-4 state that international applicants may call 267-941-1099, from 6:00 a.m. to 11:00 p.m. Eastern Time, Monday to Friday, and that only international applicants can receive an EIN by telephone. The US company is a separate legal entity with its own tax filings. Goods shipped from Ghana remain subject to the BoG repatriation rules, so take Ghanaian and US tax advice first.
Documents you need
CBG lists the documents it needs for a business FCA. Other banks ask for a similar file, and foreign providers ask for most of the same items in English.
| Document | Ghanaian bank FCA (CBG list) | Foreign provider (typical) |
|---|---|---|
| Completed account opening form | Yes | Online application |
| Business registration documents | Yes | Yes |
| Business Tax Identification Number (TIN) | Yes | Often |
| Ghana Card of the business owners | Yes | Passport or national ID |
| Recent passport-size photos of owners and signatories | Yes | Not usually |
| Valid address confirmation document | Yes | Yes |
| Business Ghana Post GPS address | Yes | Not usually |
| Ownership chart down to individuals with 25% or more | Under the bank's KYC policy | Yes |
| Description of trade, counterparties and expected volumes | Under the bank's KYC policy | Yes |
Source: CBG, Business / Entity Foreign Currency Account (FCA), as published on 29 October 2026. Foreign provider column is a typical checklist compiled by the Helm Editorial Team.
The Ghana Card is Ghana's national identity card. The Ghana Post GPS address is the digital address code used for Ghanaian locations. KYC, short for know your customer, is the identity and ownership check every bank and provider runs before opening an account.
Stablecoins in Ghana: USDC and USDT under Act 1154
Stablecoins are digital tokens designed to hold a steady value against a currency such as the US dollar; USDC and USDT are the most widely used. Ghana now has a statute for them. The Bank of Ghana's virtual assets page names the Virtual Asset Service Providers Act, 2025 (Act 1154) as the legal foundation for registering, licensing and supervising virtual asset service providers, and lists stablecoin issuance among the activities that require registration or a license.
- Licensing is being introduced. The BoG page states that its application process page will be available by the end of the third quarter of 2026.
- Promotion is restricted. In a joint notice on 20 February 2026, reported by Citi Newsroom, the BoG and the Securities and Exchange Commission directed virtual asset service providers, including those in their sandbox, to stop mass marketing, and noted concern about advertising of virtual asset and stablecoin products.
- Not legal tender. The US International Trade Administration's summary of the law states that virtual assets are not recognized as legal tender and the cedi remains the sole official currency.
A Ghanaian company paid in USDC or USDT by a buyer abroad should document the sale as it would any foreign currency receipt and, for goods under a Letter of Commitment, make sure the proceeds reach the nominated bank within 120 days.
Where a Helm USD account fits
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm provides USD account details in your company's own name, with a US routing and account number that receives ACH, Fedwire and SWIFT payments, alongside EUR and GBP details.
- Service businesses can give US clients domestic payment details, then move dollars to their Ghanaian FCA when needed.
- Importers can send international payments to suppliers by SWIFT or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending. See our guide on paying Chinese suppliers from Ghana.
- Companies paid in stablecoins can receive USDC and USDT and convert them to USD inside the account.
- Exporters still repatriate goods proceeds through the nominated bank within 120 days.
Each account has a named account manager, and review questions are answered in writing within one business day. Trade finance is arranged case by case. Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
Freelancers and sole traders
Individuals can open personal FCAs and FEAs at Ghanaian banks with a Ghana Card, and online providers serve many Ghanaian freelancers paid by platforms and US clients. Check each provider's own country list first: Wise, for example, does not list Ghana among countries where customers can hold money. A freelancer who forms a company should move client payments into a business account in the company's name.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a Ghanaian company open a USD account?
Yes. Ghanaian banks offer Foreign Currency Accounts and Foreign Exchange Accounts in US dollars and other currencies in the company's own name. A company can also apply to a foreign provider that accepts Ghanaian businesses, or form a US company with its own US account.
What is the difference between an FCA and an FEA in Ghana?
An FCA is funded only by transfers from outside Ghana and does not take local foreign currency cash deposits. An FEA holds foreign currency earned or received in Ghana, such as export proceeds and permitted local receipts, and generally accepts cash deposits.
Can I withdraw dollars in cash from my FCA or FEA in Ghana?
Yes. Bank of Ghana Notice No. BG/GOV/SEC/2025/14 of 15 May 2025 states that over-the-counter cash withdrawals in foreign currency from FEAs and FCAs are allowed, and that check books may continue to be issued on them.
How long do Ghanaian exporters have to repatriate export proceeds?
A Bank of Ghana notice of 30 October 2025 requires exporters to repatriate proceeds through their nominated bank within 120 days from the date of shipment. It cites section 15(4) of the Foreign Exchange Act, 2006 (Act 723) and sets sanctions of up to 5,000 penalty units, up to 10 years' imprisonment, or both.
Can a Ghanaian business invoice customers in US dollars?
Only in limited cases. The Bank of Ghana restated in August 2025 that residents may not price or accept payment in foreign currency for goods and services unless licensed, and that foreign currency invoices may be issued only to expatriates and non-residents, with the proceeds paid into an FEA.
Can a Ghanaian business open a Wise account?
Wise's help page lists the countries where customers can hold money, and Ghana is not on that list. Check the page directly, because providers update their lists.
Is USDT legal in Ghana?
Ghana's Virtual Asset Service Providers Act, 2025 (Act 1154) creates a registration and licensing regime for virtual asset service providers, supervised by the Bank of Ghana with the SEC, and lists stablecoin issuance as a licensed activity. Virtual assets are not legal tender, and the cedi remains the sole official currency.
Does a Ghanaian company need a US company to receive ACH payments?
No. A provider that accepts Ghanaian companies can issue US account details that receive ACH payments in the Ghanaian company's name. A US company is needed only for accounts that accept US-formed companies alone, such as Mercury.
What documents does a Ghanaian bank need for a business dollar account?
CBG lists the account opening form, business registration documents, the business TIN, the Ghana Card of the owners, photos of owners and signatories, address confirmation and the Ghana Post GPS address. Other banks ask for a similar set under their own KYC policies.
References
- Bank of Ghana: Notice No. BG/GOV/SEC/2025/14, Notice on foreign exchange withdrawals (15 May 2025)
- GhanaWeb: BoG sets strict penalties for exporters who delay repatriating proceeds (notice of 30 October 2025)
- Ghana News Agency: Bank of Ghana tightens rules on foreign currency invoicing
- Ghana News Agency: BoG urges exporters to repatriate all proceeds to Ghana (15 October 2026)
- CBG: Business / Entity Foreign Currency Account (FCA)
- Bank of Ghana: Virtual assets
- Citi Newsroom: Bank of Ghana and SEC joint notice on virtual asset advertising (20 February 2026)
- International Trade Administration: Ghana financial services, new virtual assets framework
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.