Remitting from South Africa to Zambia

The following table shows how much it costs to remit money from South Africa To Zambia. Click on column headings to sort the data.

Note: Corridor averages are unweighted and do not reflect the market shares of the different firms that compose the average. For comparability purposes, the two initial USD reference amounts of $200 and $500 were kept. In the third quarter of 2009, the amounts in local currency were adjusted in order to reflect foreign exchange fluctuations.

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Collection period for Third quarter 2009 | First quarter 2009 | 2008

See prices in ZAR | USD

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See prices in USD | ZAR

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD		Transfer speed	Network Coverage	Date
Money Gram	MTO	17.25	-1.78	6.85	13.70		Less than one hour	Nationwide	Aug 25, 2009
Western Union	MTO	15.80	0.25	8.15	16.30		Less than one hour	Nationwide	Aug 25, 2009
Nedbank	Bank	25.38	0.89	13.58	27.16		2 days	Nationwide	Aug 25, 2009
Bank of Athens	Bank	35.62	0.76	18.58	37.16		2 days	Nationwide	Aug 25, 2009
Standard Bank	Bank	24.38	7.51	19.70	39.40		2 days	Nationwide	Aug 25, 2009
ABSA	Bank	21.38	12.47	23.16	46.32		3-5 days	Nationwide	Aug 25, 2009
First National Bank of South Africa	Bank	25.00	13.82	26.32	52.64		3-5 days	Nationwide	Aug 25, 2009
Bidvest Bank	Bank	53.44	0.76	27.48	54.96		3-5 days	Nationwide	Aug 25, 2009
Bank Average		30.86	6.04	21.47	42.94
MTO Average		16.53	-0.76	7.50	15.00
Total Average		27.28	4.34	17.98	35.96
Total Average in First Quarter 2009		24.80	12.51	24.91	49.82

Corridor note

In South Africa only banks are allowed to send money.

16003900

				Total cost
Firm name	Firm type	Fee (ZAR)	Exchange rate margin (%)	Percent (%)	ZAR		Transfer speed	Network Coverage	Date
Money Gram	MTO	138.03	-1.78	6.85	109.60		Less than one hour	Nationwide	Aug 25, 2009
Western Union	MTO	126.40	0.25	8.15	130.40		Less than one hour	Nationwide	Aug 25, 2009
Nedbank	Bank	203.00	0.89	13.58	217.28		2 days	Nationwide	Aug 25, 2009
Bank of Athens	Bank	285.00	0.76	18.58	297.28		2 days	Nationwide	Aug 25, 2009
Standard Bank	Bank	195.00	7.51	19.70	315.20		2 days	Nationwide	Aug 25, 2009
ABSA	Bank	171.00	12.47	23.16	370.56		3-5 days	Nationwide	Aug 25, 2009
First National Bank of South Africa	Bank	200.00	13.82	26.32	421.12		3-5 days	Nationwide	Aug 25, 2009
Bidvest Bank	Bank	427.50	0.76	27.48	439.68		3-5 days	Nationwide	Aug 25, 2009
Bank Average		246.92	6.04	21.47	343.52
MTO Average		132.22	-0.76	7.50	120.00
Total Average		218.24	4.34	17.98	287.68
Total Average in First Quarter 2009		186.00	12.51	24.91	398.56

Corridor note

In South Africa only banks are allowed to send money.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD		Transfer speed	Network Coverage	Date
Standard Bank	Bank	26.00	4.99	17.99	35.98		3-5 days	Nationwide	Feb 13, 2009
ABSA	Bank	22.67	9.97	21.31	42.62		2 days	Nationwide	Feb 13, 2009
Bank of Athens	Bank	22.67	10.15	21.48	42.96		3-5 days	Nationwide	Feb 13, 2009
Nedbank	Bank	39.33	11.47	31.13	62.26		3-5 days	Nationwide	Feb 13, 2009
First National Bank of South Africa	Bank	13.33	25.94	32.61	65.22		3-5 days	Nationwide	Feb 13, 2009
Bank Average		24.80	12.51	24.91	49.82
Total Average		24.80	12.51	24.91	49.82
Total Average in 2008		20.60	13.21	23.51	47.02

Corridor note

In South Africa only banks are allowed to send money.

15003800

				Total cost
Firm name	Firm type	Fee (ZAR)	Exchange rate margin (%)	Percent (%)	ZAR		Transfer speed	Network Coverage	Date
Standard Bank	Bank	195.00	4.99	17.99	269.85		3-5 days	Nationwide	Feb 13, 2009
ABSA	Bank	170.00	9.97	21.31	319.65		2 days	Nationwide	Feb 13, 2009
Bank of Athens	Bank	170.00	10.15	21.48	322.20		3-5 days	Nationwide	Feb 13, 2009
Nedbank	Bank	295.00	11.47	31.13	466.95		3-5 days	Nationwide	Feb 13, 2009
First National Bank of South Africa	Bank	100.00	25.94	32.61	489.15		3-5 days	Nationwide	Feb 13, 2009
Bank Average		186.00	12.51	24.91	373.65
Total Average		186.00	12.51	24.91	373.65
Total Average in 2008		154.50	13.21	23.51	352.65

Corridor note

In South Africa only banks are allowed to send money.

200500

				Total cost
Firm name	Firm type	Fee (USD)	Exchange rate margin (%)	Percent (%)	USD		Transfer speed	Network Coverage	Date
Nedbank	Bank	25.00	3.75	16.25	32.50		5 days	-	Jun 04, 2008
Bank of Athens	Bank	20.00	14.38	24.38	48.76		2-3 days	-	Jun 04, 2008
ABSA	Bank	20.00	14.43	24.43	48.86		2 days	-	Jun 04, 2008
Standard Bank	Bank	26.00	12.86	25.86	51.72		2-3 days	-	Jun 04, 2008
First National Bank of South Africa	Bank	12.00	20.64	26.64	53.28		2-3 days	-	Jun 04, 2008
Bank Average		20.60	13.21	23.51	47.02
Total Average		20.60	13.21	23.51	47.02
First Quarter 2009		24.80	12.51	24.91	49.82

Corridor note

In South Africa only banks are allowed to send money.

15003800

				Total cost
Firm name	Firm type	Fee (ZAR)	Exchange rate margin (%)	Percent (%)	ZAR		Transfer speed	Network Coverage	Date
Nedbank	Bank	187.50	3.75	16.25	243.75		5 days	-	Jun 04, 2008
Bank of Athens	Bank	150.00	14.38	24.38	365.70		2-3 days	-	Jun 04, 2008
ABSA	Bank	150.00	14.43	24.43	366.45		2 days	-	Jun 04, 2008
Standard Bank	Bank	195.00	12.86	25.86	387.90		2-3 days	-	Jun 04, 2008
First National Bank of South Africa	Bank	90.00	20.64	26.64	399.60		2-3 days	-	Jun 04, 2008
Bank Average		154.50	13.21	23.51	352.65
Total Average		154.50	13.21	23.51	352.65
First Quarter 2009		186.00	12.51	24.91	373.65

Corridor note

In South Africa only banks are allowed to send money.

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