Personal inward remittances through Banks in Ghana; A case study of some selected branches of Ecobank Ghana Limited

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Personal inward remittances have become a source of external finance whose magnitude exceeds the amount of official development assistance in some developing countries. This study was used to assess the personal inward remittance to identify the different channels, determine the factors that influence the choice of the channel by remittance recipients and to find the challenges that hinder remittances services The main objective of the study was to investigate personal inward remittances through banks in Ghana using Ecobank Ghana Limited as a case study, identify the different channels, determine the factors that influence the choice of the channel, as well as find the challenges that hinder remittances services. A sample size of 260 was taken out of 2250. Questionnaire was the main research instrument used for the collection of relevant data from the respondents. The results revealed that, most of the customers were aware of the various transfer channels at their disposal and mainly use the bank’s channel for money transfer. The customers’ main likeness about the money transfer service was due to its speed which was agreed upon by most of the customers, whereas what they dislike was the associated cost with it. It was recommended that a level platform of communication should be created between the technical team and the bank’s staff to address technical problems such as software and internet issues early enough to help deliver a better services to the customers.
A thesis submitted to the Institute of Distance Learning, Kwame Nkrumah University of Science and Technology, Kumasi, in partial fulfilment of the requirements for the award of a COMMONWEALTH EXECUTIVE MASTERS DEGREE IN BUSINESS ADMINISTRATION,