Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Transfer money

Sending money from SOUTH AFRICA to CHINA

Data collected on: Aug 12, 2022-Aug 31, 2022
ZAR | USD
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
<em>Transfer Speed</em> has been standardized in six broad categories.
Receiving method
Disbursing network coverage
Fee
Exchange rate margin (%)
The exchange rate margin is the cost resulting from the fact that the firm applies a rate that is different from the market reference rate. The margin is the percentage difference between the market reference rate and the exchange rate actually applied to the transaction.
Total cost (%)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
41.996.13
Exchange rate margin (%)
2.47
Percentage difference between market reference rate 0.41 and exchange rate charged 0.402.47
Total cost (%)
5.535.53
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
75.7611.06
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
41.106.00
Exchange rate margin (%)
2.63
Percentage difference between market reference rate 0.06 and exchange rate charged 0.062.63
Total cost (%)
5.635.63
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
77.1311.26
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
41.106.00
Exchange rate margin (%)
2.63
Percentage difference between market reference rate 0.06 and exchange rate charged 0.062.63
Total cost (%)
5.635.63
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
77.1311.26
Firm
EcoCash Remit
Firm type: Mobile Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
23.633.45
Exchange rate margin (%)
4.57
Percentage difference between market reference rate 0.40 and exchange rate charged 0.394.57
Total cost (%)
6.306.30
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
86.3112.60
Firm
Hello-Paisa
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
100.0014.60
Exchange rate margin (%)
2.86
Percentage difference between market reference rate 0.41 and exchange rate charged 0.402.86
Total cost (%)
10.1610.16
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
139.1920.32
Firm
Hello-Paisa
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
100.0014.60
Exchange rate margin (%)
2.86
Percentage difference between market reference rate 0.41 and exchange rate charged 0.402.86
Total cost (%)
10.1610.16
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
139.1920.32
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
195.0028.47
Exchange rate margin (%)
0.99
Percentage difference between market reference rate 0.06 and exchange rate charged 0.060.99
Total cost (%)
15.2215.22
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
208.5130.44
Firm
Standard Bank
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
329.0048.03
Exchange rate margin (%)
1.40
Percentage difference between market reference rate 0.41 and exchange rate charged 0.401.40
Total cost (%)
25.4125.41
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
348.1250.82
Firm
Standard Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
329.0048.03
Exchange rate margin (%)
3.16
Percentage difference between market reference rate 0.41 and exchange rate charged 0.403.16
Total cost (%)
27.1727.17
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
372.2354.34
Firm
Nedbank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
317.0046.28
Exchange rate margin (%)
4.08
Percentage difference between market reference rate 0.41 and exchange rate charged 0.394.08
Total cost (%)
27.2227.22
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
372.9154.44
Firm
ABSA
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
435.0063.50
Exchange rate margin (%)
4.86
Percentage difference between market reference rate 0.41 and exchange rate charged 0.394.86
Total cost (%)
36.6236.62
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
501.6973.24
Total Average Third Quarter 2022
15.9115.91
Total Average Second Quarter 2022
15.1715.17
Total Average
Fee
177.5325.92
Exchange Rate Margin (%)
2.962.96
Total Cost Percent (%)
15.9115.91
Total Cost (ZAR) Total Cost (USD)
218.0231.83
Non-Transparent records
Bank account transfer Credit Card Debit card Cash
Less than one hour Next day 2 days 3-5 days
Bank account Cash Mobile wallet
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
Receiving method
Disbursing network coverage
Fee
Exchange rate margin (%)
Total cost (%)
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
41.996.16
Exchange rate margin (%)
2.47
Percentage difference between market reference rate 0.41 and exchange rate charged 0.402.47
Total cost (%)
3.703.70
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
126.1718.50
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
102.3015.00
Exchange rate margin (%)
2.63
Percentage difference between market reference rate 0.06 and exchange rate charged 0.062.63
Total cost (%)
5.635.63
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
191.9828.15
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
102.3015.00
Exchange rate margin (%)
2.63
Percentage difference between market reference rate 0.06 and exchange rate charged 0.062.63
Total cost (%)
5.635.63
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
191.9828.15
Firm
Hello-Paisa
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
100.0014.66
Exchange rate margin (%)
2.86
Percentage difference between market reference rate 0.41 and exchange rate charged 0.402.86
Total cost (%)
5.795.79
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
197.4428.95
Firm
Hello-Paisa
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
100.0014.66
Exchange rate margin (%)
2.86
Percentage difference between market reference rate 0.41 and exchange rate charged 0.402.86
Total cost (%)
5.795.79
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
197.4428.95
Firm
EcoCash Remit
Firm type: Mobile Operator
 
Payment instrument
Access point
Agent
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
58.828.62
Exchange rate margin (%)
4.57
Percentage difference between market reference rate 0.40 and exchange rate charged 0.394.57
Total cost (%)
6.306.30
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
214.8331.50
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
312.0045.75
Exchange rate margin (%)
0.99
Percentage difference between market reference rate 0.06 and exchange rate charged 0.060.99
Total cost (%)
10.1310.13
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
345.4350.65
Firm
Standard Bank
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
329.0048.24
Exchange rate margin (%)
1.40
Percentage difference between market reference rate 0.41 and exchange rate charged 0.401.40
Total cost (%)
11.0411.04
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
376.4655.20
Firm
Standard Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
329.0048.24
Exchange rate margin (%)
3.16
Percentage difference between market reference rate 0.41 and exchange rate charged 0.403.16
Total cost (%)
12.8112.81
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
436.8264.05
Firm
Nedbank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
317.0046.48
Exchange rate margin (%)
4.08
Percentage difference between market reference rate 0.41 and exchange rate charged 0.394.08
Total cost (%)
13.3813.38
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
456.2666.90
Firm
ABSA
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
435.0063.78
Exchange rate margin (%)
4.86
Percentage difference between market reference rate 0.41 and exchange rate charged 0.394.86
Total cost (%)
17.6217.62
Total cost (ZAR)sort descendingTotal cost (USD)sort descending
600.8488.10
Total Average Third Quarter 2022
8.898.89
Total Average Second Quarter 2022
8.228.22
Total Average
Fee
202.4929.69
Exchange Rate Margin (%)
2.962.96
Total Cost Percent (%)
8.898.89
Total Cost (ZAR) Total Cost (USD)
303.2444.46
Non-Transparent records
Bank account transfer Credit Card Debit card Cash
Less than one hour Next day 2 days 3-5 days
Bank account Cash Mobile wallet
Least Costly Corridors To China
Least Costly Corridors From South Africa
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