Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Transfer money

Sending money from TANZANIA to KENYA

Data collected on: Aug 19, 2024-Sep 04, 2024
TZS | 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 (TZS)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
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
17,110.0010.55
Exchange rate margin (%)
3.96
Percentage difference between market reference rate 0.05 and exchange rate charged 0.053.96
Total cost (%)
9.239.23
Total cost (TZS)sort descendingTotal cost (USD)sort descending
29,951.3518.46
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
7,654.004.72
Exchange rate margin (%)
8.16
Percentage difference between market reference rate 0.05 and exchange rate charged 0.048.16
Total cost (%)
10.5210.52
Total cost (TZS)sort descendingTotal cost (USD)sort descending
34,137.4021.04
Firm
M-Pesa
Firm type: Mobile Operator
 
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
3,338.002.06
Exchange rate margin (%)
13.08
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0413.08
Total cost (%)
14.1114.11
Total cost (TZS)sort descendingTotal cost (USD)sort descending
45,786.9528.22
Firm
KCB Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
149,875.0092.37
Exchange rate margin (%)
15.81
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0415.81
Total cost (%)
62.0062.00
Total cost (TZS)sort descendingTotal cost (USD)sort descending
201,190.00124.00
Firm
KCB Bank
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
149,875.0092.37
Exchange rate margin (%)
15.81
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0415.81
Total cost (%)
62.0062.00
Total cost (TZS)sort descendingTotal cost (USD)sort descending
201,190.00124.00
Firm
National Bank of Commerce Ltd (NBC)
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
232,560.00143.33
Exchange rate margin (%)
14.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0414.90
Total cost (%)
86.5786.57
Total cost (TZS)sort descendingTotal cost (USD)sort descending
280,919.65173.14
Firm
National Bank of Commerce Ltd (NBC)
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
232,560.00143.33
Exchange rate margin (%)
14.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0414.90
Total cost (%)
86.5786.57
Total cost (TZS)sort descendingTotal cost (USD)sort descending
280,919.65173.14
Firm
Stanbic Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
217,909.50134.30
Exchange rate margin (%)
20.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0420.80
Total cost (%)
87.9587.95
Total cost (TZS)sort descendingTotal cost (USD)sort descending
285,397.75175.90
Firm
Stanbic Bank
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
217,909.50134.30
Exchange rate margin (%)
20.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0420.80
Total cost (%)
87.9587.95
Total cost (TZS)sort descendingTotal cost (USD)sort descending
285,397.75175.90
Firm
Exim Bank Tanzania Ltd
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
246,420.00151.88
Exchange rate margin (%)
15.74
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0415.74
Total cost (%)
91.6891.68
Total cost (TZS)sort descendingTotal cost (USD)sort descending
297,501.60183.36
Total Average Third Quarter 2024
59.8659.86
Total Average Second Quarter 2024
55.7955.79
Total Average
Fee
147,521.1090.92
Exchange Rate Margin (%)
14.4014.40
Total Cost Percent (%)
59.8659.86
Total Cost (TZS) Total Cost (USD)
194,239.21119.72
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day
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 (TZS)sort descendingTotal cost (USD)sort descending
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
27,730.0017.10
Exchange rate margin (%)
3.96
Percentage difference between market reference rate 0.05 and exchange rate charged 0.053.96
Total cost (%)
7.387.38
Total cost (TZS)sort descendingTotal cost (USD)sort descending
59,851.8036.90
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
19,139.0011.80
Exchange rate margin (%)
8.16
Percentage difference between market reference rate 0.05 and exchange rate charged 0.048.16
Total cost (%)
10.5210.52
Total cost (TZS)sort descendingTotal cost (USD)sort descending
85,317.2052.60
Firm
M-Pesa
Firm type: Mobile Operator
 
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
6,250.003.85
Exchange rate margin (%)
13.08
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0413.08
Total cost (%)
13.8513.85
Total cost (TZS)sort descendingTotal cost (USD)sort descending
112,323.5069.25
Firm
KCB Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
149,875.0092.40
Exchange rate margin (%)
15.81
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0415.81
Total cost (%)
34.2934.29
Total cost (TZS)sort descendingTotal cost (USD)sort descending
278,091.90171.45
Firm
KCB Bank
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
149,875.0092.40
Exchange rate margin (%)
15.81
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0415.81
Total cost (%)
34.2934.29
Total cost (TZS)sort descendingTotal cost (USD)sort descending
278,091.90171.45
Firm
National Bank of Commerce Ltd (NBC)
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
232,560.00143.38
Exchange rate margin (%)
14.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0414.90
Total cost (%)
43.5843.58
Total cost (TZS)sort descendingTotal cost (USD)sort descending
353,433.80217.90
Firm
National Bank of Commerce Ltd (NBC)
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
232,560.00143.38
Exchange rate margin (%)
14.90
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0414.90
Total cost (%)
43.5843.58
Total cost (TZS)sort descendingTotal cost (USD)sort descending
353,433.80217.90
Firm
Exim Bank Tanzania Ltd
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
246,420.00151.92
Exchange rate margin (%)
15.74
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0415.74
Total cost (%)
46.1246.12
Total cost (TZS)sort descendingTotal cost (USD)sort descending
374,033.20230.60
Firm
Stanbic Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
217,909.50134.35
Exchange rate margin (%)
20.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0420.80
Total cost (%)
47.6747.67
Total cost (TZS)sort descendingTotal cost (USD)sort descending
386,603.70238.35
Firm
Stanbic Bank
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
217,909.50134.35
Exchange rate margin (%)
20.80
Percentage difference between market reference rate 0.05 and exchange rate charged 0.0420.80
Total cost (%)
47.6747.67
Total cost (TZS)sort descendingTotal cost (USD)sort descending
386,603.70238.35
Total Average Third Quarter 2024
32.9032.90
Total Average Second Quarter 2024
31.8631.86
Total Average
Fee
150,022.8092.49
Exchange Rate Margin (%)
14.4014.40
Total Cost Percent (%)
32.9032.90
Total Cost (TZS) Total Cost (USD)
266,778.45164.48
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day
Bank account Cash Mobile wallet
Least Costly Corridors To Kenya
Least Costly Corridors From Tanzania
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