Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From ZASouth Africa you can also send money to

Sending money from SOUTH AFRICA to NIGERIA

Data collected on: Nov 21, 2023-Dec 12, 2023
ZAR | USD
Payment instrument
Access point
Sending network coverage
Transfer speed
<em>Transfer Speed</em> has been standardized in six broad categories.
Receiving method
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)Total cost (USD)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Nedbank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Medium
Receiving method
Medium
390.0056.93
2.11
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.11
30.5830.58
418.9561.16
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
130.0018.98
1.51
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.51
11.0011.00
150.7022.00
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
30.004.38
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
4.924.92
67.409.84
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
24.003.50
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
4.484.48
61.388.96
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
30.004.38
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
4.924.92
67.409.84
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
24.003.50
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
4.484.48
61.388.96
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
30.004.38
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
4.924.92
67.409.84
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
24.003.50
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
4.484.48
61.388.96
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
100.0014.60
2.87
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.87
10.1710.17
139.3320.34
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
100.0014.60
3.02
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
3.02
10.3210.32
141.3820.64
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
215.0931.40
0.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.80
16.5016.50
226.0533.00
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
215.0931.40
0.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.80
16.5016.50
226.0533.00
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
215.0931.40
0.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.80
16.5016.50
226.0533.00
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
190.5827.82
2.02
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.02
15.9315.93
218.2431.86
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
390.0056.93
2.11
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.11
30.5830.58
418.9561.16
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
190.5827.82
2.02
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.02
15.9315.93
218.2431.86
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Call Center
Sending network coverage
Medium
Receiving method
Medium
230.0033.58
1.44
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.44
18.2318.23
249.7536.46
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
230.0033.58
1.35
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.35
18.1418.14
248.5236.28
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
435.0063.50
0.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.90
32.6532.65
447.3165.30
First National Bank of South Africa via MoneyGram
Firm type: Bank / Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
221.4632.33
1.50
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.50
17.6617.66
241.9435.32
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Medium
82.6112.06
7.19
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
7.19
13.2213.22
181.1126.44
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Medium
82.6112.06
7.21
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
7.21
13.2413.24
181.3926.48
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
100.0014.60
3.02
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
3.02
10.3210.32
141.3820.64
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
66.009.64
9.89
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
9.89
14.7114.71
201.5329.42
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
68.5010.00
9.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
9.80
14.8014.80
202.7629.60
Total Average Fourth Quarter 2023
14.2114.21
Total Average Third Quarter 2023
13.9813.98
Total Average
Fee
152.5822.28
Exchange Rate Margin (%)
3.073.07
Total Cost Percent (%)
14.2114.21
Total Cost (ZAR) Total Cost (USD)
194.6428.41
Non-Transparent records
Bank account transfer Credit Card Debit card Cash
Less than one hour Same day 2 days 3-5 days
Bank account Cash
Payment instrument
Access point
Sending network coverage
Receiving method
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
24.003.52
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
3.433.43
116.9617.15
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
24.003.52
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
3.433.43
116.9617.15
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
24.003.52
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
3.433.43
116.9617.15
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
30.004.40
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
3.613.61
123.1018.05
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
30.004.40
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
3.613.61
123.1018.05
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
30.004.40
2.73
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.73
3.613.61
123.1018.05
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
100.0014.66
2.87
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.87
5.805.80
197.7829.00
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
150.0021.99
1.51
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.51
5.915.91
201.5329.55
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
100.0014.66
3.02
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
3.02
5.955.95
202.9029.75
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
100.0014.66
3.02
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
3.02
5.955.95
202.9029.75
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
250.0036.66
1.35
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.35
8.688.68
295.9943.40
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Call Center
Sending network coverage
Medium
Receiving method
Medium
250.0036.66
1.44
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.44
8.778.77
299.0643.85
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
247.7536.33
2.02
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.02
9.299.29
316.7946.45
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
247.7536.33
2.02
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.02
9.299.29
316.7946.45
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Medium
82.6112.11
7.00
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
7.00
9.429.42
321.2247.10
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Medium
82.6112.11
7.03
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
7.03
9.459.45
322.2547.25
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
301.1344.15
0.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.80
9.639.63
328.3848.15
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
301.1344.15
0.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.80
9.639.63
328.3848.15
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
301.1344.15
0.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.80
9.639.63
328.3848.15
First National Bank of South Africa via MoneyGram
Firm type: Bank / Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
287.8942.21
1.50
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.50
9.949.94
338.9549.70
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
89.0013.05
9.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
9.80
12.4112.41
423.1862.05
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
89.0013.05
9.89
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
9.89
12.5012.50
426.2562.50
Nedbank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Medium
Receiving method
Medium
390.0057.18
2.11
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.11
13.5513.55
462.0667.75
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
390.0057.18
2.11
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.11
13.5513.55
462.0667.75
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
435.0063.78
0.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.90
13.6613.66
465.8168.30
Total Average Fourth Quarter 2023
8.178.17
Total Average Third Quarter 2023
8.098.09
Total Average
Fee
174.2825.55
Exchange Rate Margin (%)
3.053.05
Total Cost Percent (%)
8.178.17
Total Cost (ZAR) Total Cost (USD)
278.4340.83
Non-Transparent records
Bank account transfer Credit Card Debit card Cash
Less than one hour Same day 2 days 3-5 days
Bank account Cash