Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From ZASouth Africa you can also send money to

Sending money from SOUTH AFRICA to MALAWI

Data collected on: Feb 19, 2024-Feb 29, 2024
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.
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
124.5518.18
-13.98
Percentage difference between market reference rate 88.79 and exchange rate charged 101.20
-13.98
-4.89-4.89
-66.99-9.78
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
7.05
Percentage difference between market reference rate 89.42 and exchange rate charged 83.12
7.05
16.5416.54
226.6033.08
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
24.993.65
-7.37
Percentage difference between market reference rate 88.01 and exchange rate charged 94.50
-7.37
-5.55-5.55
-76.04-11.10
EcoCash Remit
Firm type: Mobile Operator
Payment instrument
Access point
Agent
Sending network coverage
Medium
Receiving method
High
61.659.00
-19.38
Percentage difference between market reference rate 87.54 and exchange rate charged 104.51
-19.38
-14.88-14.88
-203.86-29.76
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
2.09
Percentage difference between market reference rate 87.95 and exchange rate charged 86.11
2.09
3.913.91
53.577.82
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
3.15
Percentage difference between market reference rate 87.95 and exchange rate charged 85.18
3.15
4.974.97
68.099.94
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
2.09
Percentage difference between market reference rate 87.95 and exchange rate charged 86.11
2.09
3.913.91
53.577.82
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
3.15
Percentage difference between market reference rate 87.95 and exchange rate charged 85.18
3.15
4.974.97
68.099.94
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
2.09
Percentage difference between market reference rate 87.95 and exchange rate charged 86.11
2.09
3.913.91
53.577.82
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
3.15
Percentage difference between market reference rate 87.95 and exchange rate charged 85.18
3.15
4.974.97
68.099.94
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Medium
68.5010.00
-13.87
Percentage difference between market reference rate 87.34 and exchange rate charged 99.45
-13.87
-8.87-8.87
-121.52-17.74
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
68.5010.00
-13.87
Percentage difference between market reference rate 87.34 and exchange rate charged 99.45
-13.87
-8.87-8.87
-121.52-17.74
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
137.0020.00
-15.52
Percentage difference between market reference rate 89.07 and exchange rate charged 102.88
-15.52
-5.52-5.52
-75.62-11.04
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
137.0020.00
-15.52
Percentage difference between market reference rate 89.07 and exchange rate charged 102.88
-15.52
-5.52-5.52
-75.62-11.04
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
280.0040.88
2.81
Percentage difference between market reference rate 87.35 and exchange rate charged 84.89
2.81
23.2523.25
318.5346.50
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
137.0020.00
-13.97
Percentage difference between market reference rate 88.79 and exchange rate charged 101.20
-13.97
-3.97-3.97
-54.39-7.94
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
223.7432.66
6.56
Percentage difference between market reference rate 87.57 and exchange rate charged 81.82
6.56
22.8922.89
313.5945.78
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
123.8718.08
-14.00
Percentage difference between market reference rate 88.79 and exchange rate charged 101.22
-14.00
-4.96-4.96
-67.95-9.92
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
223.7432.66
0.87
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.87
17.2017.20
235.6434.40
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
223.7432.66
0.98
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.98
17.3117.31
237.1534.62
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
223.7432.66
0.98
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.98
17.3117.31
237.1534.62
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
381.9055.75
1.27
Percentage difference between market reference rate 88.93 and exchange rate charged 87.79
1.27
29.1529.15
399.3658.30
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
420.0061.31
1.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.80
32.4632.46
444.7064.92
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
7.05
Percentage difference between market reference rate 89.42 and exchange rate charged 83.12
7.05
23.8423.84
326.6147.68
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
7.05
Percentage difference between market reference rate 89.42 and exchange rate charged 83.12
7.05
23.8423.84
326.6147.68
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
435.0063.50
2.79
Percentage difference between market reference rate 89.07 and exchange rate charged 86.58
2.79
34.5434.54
473.2069.08
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
Medium
219.4732.04
6.54
Percentage difference between market reference rate 89.42 and exchange rate charged 83.57
6.54
22.5622.56
309.0745.12
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
137.0020.00
-15.52
Percentage difference between market reference rate 89.07 and exchange rate charged 102.88
-15.52
-5.52-5.52
-75.62-11.04
ABSA via Western Union
Firm type: Bank / Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
219.8932.10
0.94
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.94
16.9916.99
232.7633.98
Standard Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
259.0037.81
1.33
Percentage difference between market reference rate 87.38 and exchange rate charged 86.21
1.33
20.2420.24
277.2940.48
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
223.7432.66
6.71
Percentage difference between market reference rate 87.70 and exchange rate charged 81.82
6.71
23.0423.04
315.6546.08
Total Average First Quarter
9.659.65
Total Average Fourth Quarter 2023
9.989.98
Total Average
Fee
164.3223.99
Exchange Rate Margin (%)
-2.34-2.34
Total Cost Percent (%)
9.659.65
Total Cost (ZAR) Total Cost (USD)
132.2519.31
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 Mobile wallet
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
High
N/AN/A
N/A
not available
N/A
N/AN/A
N/AN/A
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
N/AN/A
N/A
not available
N/A
N/AN/A
N/AN/A
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
N/AN/A
N/A
not available
N/A
N/AN/A
N/AN/A
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
24.993.66
-7.37
Percentage difference between market reference rate 88.01 and exchange rate charged 94.50
-7.37
-6.64-6.64
-226.42-33.20
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.67
2.09
Percentage difference between market reference rate 87.95 and exchange rate charged 86.11
2.09
2.822.82
96.1614.10
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.67
2.09
Percentage difference between market reference rate 87.95 and exchange rate charged 86.11
2.09
2.822.82
96.1614.10
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.67
2.09
Percentage difference between market reference rate 87.95 and exchange rate charged 86.11
2.09
2.822.82
96.1614.10
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
7.05
Percentage difference between market reference rate 89.42 and exchange rate charged 83.12
7.05
11.4511.45
390.4557.25
EcoCash Remit
Firm type: Mobile Operator
Payment instrument
Access point
Agent
Sending network coverage
Medium
Receiving method
High
153.4522.50
-19.38
Percentage difference between market reference rate 87.54 and exchange rate charged 104.51
-19.38
-14.88-14.88
-507.41-74.40
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
170.5025.00
-13.87
Percentage difference between market reference rate 87.34 and exchange rate charged 99.45
-13.87
-8.87-8.87
-302.47-44.35
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Medium
170.5025.00
-13.87
Percentage difference between market reference rate 87.34 and exchange rate charged 99.45
-13.87
-8.87-8.87
-302.47-44.35
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
7.05
Percentage difference between market reference rate 89.42 and exchange rate charged 83.12
7.05
14.3814.38
490.3671.90
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
7.05
Percentage difference between market reference rate 89.42 and exchange rate charged 83.12
7.05
14.3814.38
490.3671.90
Standard Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
259.0037.98
1.33
Percentage difference between market reference rate 87.38 and exchange rate charged 86.21
1.33
8.938.93
304.5144.65
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
280.0041.06
2.81
Percentage difference between market reference rate 87.35 and exchange rate charged 84.89
2.81
11.0211.02
375.7855.10
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
Medium
285.3141.83
6.54
Percentage difference between market reference rate 89.42 and exchange rate charged 83.57
6.54
14.9114.91
508.4374.55
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
290.8642.65
6.71
Percentage difference between market reference rate 87.70 and exchange rate charged 81.82
6.71
15.2415.24
519.6876.20
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
290.8642.65
6.56
Percentage difference between market reference rate 87.57 and exchange rate charged 81.82
6.56
15.0915.09
514.5775.45
ABSA via Western Union
Firm type: Bank / Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
307.8445.14
0.94
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.94
9.979.97
339.9849.85
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
309.2045.34
-13.98
Percentage difference between market reference rate 88.79 and exchange rate charged 101.20
-13.98
-4.91-4.91
-167.43-24.55
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
310.0045.45
-13.98
Percentage difference between market reference rate 88.79 and exchange rate charged 101.20
-13.98
-4.89-4.89
-166.75-24.45
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
313.2345.93
0.87
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.87
10.0610.06
343.0550.30
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
313.2345.93
0.98
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.98
10.1710.17
346.8050.85
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
313.2345.93
0.98
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.98
10.1710.17
346.8050.85
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
341.0050.00
-13.97
Percentage difference between market reference rate 88.79 and exchange rate charged 101.20
-13.97
-3.97-3.97
-135.38-19.85
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
341.0050.00
-15.52
Percentage difference between market reference rate 89.07 and exchange rate charged 102.88
-15.52
-5.52-5.52
-188.23-27.60
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
341.0050.00
-15.52
Percentage difference between market reference rate 89.07 and exchange rate charged 102.88
-15.52
-5.52-5.52
-188.23-27.60
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
341.0050.00
-15.52
Percentage difference between market reference rate 89.07 and exchange rate charged 102.88
-15.52
-5.52-5.52
-188.23-27.60
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
381.9056.00
1.27
Percentage difference between market reference rate 88.93 and exchange rate charged 87.79
1.27
12.4712.47
425.2362.35
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
420.0061.58
1.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
1.80
14.1214.12
481.4970.60
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
435.0063.78
2.79
Percentage difference between market reference rate 89.07 and exchange rate charged 86.58
2.79
15.5515.55
530.2677.75
Total Average First Quarter
4.534.53
Total Average Fourth Quarter 2023
5.045.04
Total Average
Fee
254.2237.28
Exchange Rate Margin (%)
-2.93-2.93
Total Cost Percent (%)
4.534.53
Total Cost (ZAR) Total Cost (USD)
154.4022.64
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 Mobile wallet