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: Aug 20, 2023-Sep 10, 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.
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
435.0063.50
8.00
Percentage difference between market reference rate 56.78 and exchange rate charged 52.24
8.00
39.7539.75
544.5879.50
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
280.0040.88
6.61
Percentage difference between market reference rate 55.31 and exchange rate charged 51.65
6.61
27.0527.05
370.5954.10
EcoCash Remit
Firm type: Mobile Operator
Payment instrument
Access point
Agent
Sending network coverage
Medium
Receiving method
High
25.003.65
2.07
Percentage difference between market reference rate 56.56 and exchange rate charged 55.38
2.07
3.893.89
53.297.78
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
4.14
Percentage difference between market reference rate 57.83 and exchange rate charged 55.44
4.14
20.9320.93
286.7441.86
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
4.75
Percentage difference between market reference rate 56.75 and exchange rate charged 54.05
4.75
14.2414.24
195.0928.48
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
4.14
Percentage difference between market reference rate 57.83 and exchange rate charged 55.44
4.14
20.9320.93
286.7441.86
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
137.0020.00
-60.65
Percentage difference between market reference rate 57.31 and exchange rate charged 92.07
-60.65
-50.65-50.65
-693.91-101.30
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
137.0020.00
-56.92
Percentage difference between market reference rate 56.79 and exchange rate charged 89.12
-56.92
-46.92-46.92
-642.80-93.84
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
137.0020.00
-61.55
Percentage difference between market reference rate 56.91 and exchange rate charged 91.94
-61.55
-51.55-51.55
-706.24-103.10
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Medium
102.7515.00
8.24
Percentage difference between market reference rate 57.77 and exchange rate charged 53.01
8.24
15.7415.74
215.6431.48
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
66.009.64
8.78
Percentage difference between market reference rate 57.15 and exchange rate charged 52.13
8.78
13.6013.60
186.3227.20
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
192.5128.10
4.69
Percentage difference between market reference rate 56.71 and exchange rate charged 54.05
4.69
18.7418.74
256.7437.48
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
192.5128.10
4.69
Percentage difference between market reference rate 56.71 and exchange rate charged 54.05
4.69
18.7418.74
256.7437.48
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
137.0020.00
-56.08
Percentage difference between market reference rate 58.24 and exchange rate charged 90.90
-56.08
-46.08-46.08
-631.30-92.16
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
125.0018.25
-55.96
Percentage difference between market reference rate 58.32 and exchange rate charged 90.96
-55.96
-46.84-46.84
-641.71-93.68
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
125.0018.25
-56.00
Percentage difference between market reference rate 58.29 and exchange rate charged 90.94
-56.00
-46.88-46.88
-642.26-93.76
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
390.0056.93
2.32
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.32
30.7930.79
421.8261.58
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
63.259.23
-46.72
Percentage difference between market reference rate 58.38 and exchange rate charged 85.66
-46.72
-42.10-42.10
-576.77-84.20
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
341.9049.91
1.67
Percentage difference between market reference rate 58.20 and exchange rate charged 57.23
1.67
26.6326.63
364.8353.26
Standard Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
259.0037.81
0.60
Percentage difference between market reference rate 56.91 and exchange rate charged 56.57
0.60
19.5119.51
267.2939.02
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
190.6527.83
0.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.90
14.8214.82
203.0329.64
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
190.6527.83
0.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.90
14.8214.82
203.0329.64
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
190.6527.83
0.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.90
14.8214.82
203.0329.64
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
0.04
Percentage difference between market reference rate 56.71 and exchange rate charged 56.68
0.04
1.861.86
25.483.72
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
0.66
Percentage difference between market reference rate 55.95 and exchange rate charged 55.58
0.66
2.482.48
33.984.96
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
0.04
Percentage difference between market reference rate 56.71 and exchange rate charged 56.68
0.04
1.861.86
25.483.72
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
0.66
Percentage difference between market reference rate 55.95 and exchange rate charged 55.58
0.66
2.482.48
33.984.96
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
0.04
Percentage difference between market reference rate 56.71 and exchange rate charged 56.68
0.04
1.861.86
25.483.72
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.65
0.66
Percentage difference between market reference rate 55.95 and exchange rate charged 55.58
0.66
2.482.48
33.984.96
Total Average Third Quarter 2023
-0.10-0.10
Total Average Second Quarter 2023
4.294.29
Total Average
Fee
153.7222.44
Exchange Rate Margin (%)
-11.32-11.32
Total Cost Percent (%)
-0.10-0.10
Total Cost (ZAR) Total Cost (USD)
-1.42-0.21
Non-Transparent records
Bank account transfer Credit Card Debit card Cash
Less than one hour Same day Next day 2 days 3-5 days
Bank account Cash Mobile wallet
Payment instrument
Access point
Sending network coverage
Receiving method
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
435.0063.78
8.00
Percentage difference between market reference rate 56.78 and exchange rate charged 52.24
8.00
20.7620.76
707.92103.80
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
280.0041.06
6.61
Percentage difference between market reference rate 55.31 and exchange rate charged 51.65
6.61
14.8214.82
505.3674.10
EcoCash Remit
Firm type: Mobile Operator
Payment instrument
Access point
Agent
Sending network coverage
Medium
Receiving method
High
25.003.67
2.07
Percentage difference between market reference rate 56.56 and exchange rate charged 55.38
2.07
2.802.80
95.4814.00
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
4.14
Percentage difference between market reference rate 57.83 and exchange rate charged 55.44
4.14
11.4711.47
391.1357.35
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
4.75
Percentage difference between market reference rate 56.75 and exchange rate charged 54.05
4.75
9.159.15
312.0245.75
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
4.14
Percentage difference between market reference rate 57.83 and exchange rate charged 55.44
4.14
11.4711.47
391.1357.35
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
N/AN/A
N/A
not available
N/A
N/AN/A
N/AN/A
Hello-Paisa
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
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
N/AN/A
N/A
not available
N/A
N/AN/A
N/AN/A
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Medium
255.7537.50
8.24
Percentage difference between market reference rate 57.77 and exchange rate charged 53.01
8.24
15.7415.74
536.7378.70
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
163.0023.90
8.78
Percentage difference between market reference rate 57.15 and exchange rate charged 52.13
8.78
13.5613.56
462.4067.80
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
250.2736.70
4.69
Percentage difference between market reference rate 56.71 and exchange rate charged 54.05
4.69
12.0312.03
410.2260.15
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
250.2736.70
4.69
Percentage difference between market reference rate 56.71 and exchange rate charged 54.05
4.69
12.0312.03
410.2260.15
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
341.0050.00
-56.08
Percentage difference between market reference rate 58.24 and exchange rate charged 90.90
-56.08
-46.08-46.08
-1,571.33-230.40
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
310.0045.45
-55.90
Percentage difference between market reference rate 58.32 and exchange rate charged 90.92
-55.90
-46.81-46.81
-1,596.22-234.05
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
High
310.0045.45
-55.94
Percentage difference between market reference rate 58.29 and exchange rate charged 90.90
-55.94
-46.85-46.85
-1,597.59-234.25
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
390.0057.18
2.32
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
2.32
13.7613.76
469.2268.80
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
172.5025.29
-46.72
Percentage difference between market reference rate 58.38 and exchange rate charged 85.66
-46.72
-41.66-41.66
-1,420.61-208.30
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Receiving method
Medium
346.5050.81
1.67
Percentage difference between market reference rate 58.20 and exchange rate charged 57.23
1.67
11.8311.83
403.4059.15
Standard Bank
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
259.0037.98
0.60
Percentage difference between market reference rate 56.91 and exchange rate charged 56.57
0.60
8.208.20
279.6241.00
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
266.9139.14
0.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.90
8.738.73
297.6943.65
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
266.9139.14
0.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.90
8.738.73
297.6943.65
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
266.9139.14
0.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.05
0.90
8.738.73
297.6943.65
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.67
0.04
Percentage difference between market reference rate 56.71 and exchange rate charged 56.68
0.04
0.770.77
26.263.85
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.67
0.66
Percentage difference between market reference rate 55.95 and exchange rate charged 55.58
0.66
1.391.39
47.406.95
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.67
0.04
Percentage difference between market reference rate 56.71 and exchange rate charged 56.68
0.04
0.770.77
26.263.85
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.67
0.66
Percentage difference between market reference rate 55.95 and exchange rate charged 55.58
0.66
1.391.39
47.406.95
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.67
0.04
Percentage difference between market reference rate 56.71 and exchange rate charged 56.68
0.04
0.770.77
26.263.85
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
25.003.67
0.66
Percentage difference between market reference rate 55.95 and exchange rate charged 55.58
0.66
1.391.39
47.406.95
Total Average Third Quarter 2023
0.340.34
Total Average Second Quarter 2023
-0.81-0.81
Total Average
Fee
207.2730.39
Exchange Rate Margin (%)
-5.74-5.74
Total Cost Percent (%)
0.340.34
Total Cost (ZAR) Total Cost (USD)
11.661.71
Non-Transparent records
Bank account transfer Credit Card Debit card Cash
Less than one hour Same day Next day 2 days 3-5 days
Bank account Cash Mobile wallet