Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From TZTanzania you can also send money to

Sending money from TANZANIA to KENYA

Data collected on: Aug 20, 2023-Sep 07, 2023
TZS | 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 (TZS)Total cost (USD)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
KCB Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
122,008.9175.20
15.38
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
15.38
52.9852.98
171,920.10105.96
KCB Bank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
122,008.9175.20
15.38
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
15.38
52.9852.98
171,920.10105.96
M-Pesa
Firm type: Mobile Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
2,070.001.28
4.37
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
4.37
5.015.01
16,257.4510.02
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
0.000.00
3.75
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
3.75
3.753.75
12,168.757.50
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
0.000.00
3.75
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
3.75
3.753.75
12,168.757.50
National Bank of Commerce Ltd (NBC)
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
146,410.6990.24
12.46
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
12.46
57.5857.58
186,847.10115.16
National Bank of Commerce Ltd (NBC)
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
146,410.6990.24
12.46
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
12.46
57.5857.58
186,847.10115.16
Stanbic Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
127,500.0078.58
26.11
Percentage difference between market reference rate 0.06 and exchange rate charged 0.04
26.11
65.4065.40
212,223.00130.80
Stanbic Bank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
127,500.0078.58
26.11
Percentage difference between market reference rate 0.06 and exchange rate charged 0.04
26.11
65.4065.40
212,223.00130.80
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
7,700.004.75
6.46
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
6.46
8.838.83
28,653.3517.66
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
17,500.0010.79
9.40
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
9.40
14.7914.79
47,993.5529.58
Total Average Third Quarter 2023
35.2835.28
Total Average Second Quarter 2023
36.5636.56
Total Average
Fee
74,464.4745.89
Exchange Rate Margin (%)
12.3312.33
Total Cost Percent (%)
35.2835.28
Total Cost (TZS) Total Cost (USD)
114,474.7570.55
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day
Bank account Cash Mobile wallet
Payment instrument
Access point
Sending network coverage
Receiving method
KCB Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
122,008.9175.22
15.38
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
15.38
30.4230.42
246,706.20152.10
KCB Bank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
122,008.9175.22
15.38
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
15.38
30.4230.42
246,706.20152.10
M-Pesa
Firm type: Mobile Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
3,870.002.39
4.37
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
4.37
4.854.85
39,333.5024.25
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
28,709.4017.70
3.75
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
3.75
7.297.29
59,121.9036.45
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
28,709.4017.70
3.75
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
3.75
7.297.29
59,121.9036.45
National Bank of Commerce Ltd (NBC)
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
146,410.6990.27
12.46
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
12.46
30.5130.51
247,436.10152.55
National Bank of Commerce Ltd (NBC)
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
146,410.6990.27
12.46
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
12.46
30.5130.51
247,436.10152.55
Stanbic Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
127,500.0078.61
26.11
Percentage difference between market reference rate 0.06 and exchange rate charged 0.04
26.11
41.8341.83
339,241.30209.15
Stanbic Bank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
127,500.0078.61
26.11
Percentage difference between market reference rate 0.06 and exchange rate charged 0.04
26.11
41.8341.83
339,241.30209.15
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
19,139.0011.80
6.46
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
6.46
8.828.82
71,530.2044.10
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
37,500.0023.12
9.40
Percentage difference between market reference rate 0.06 and exchange rate charged 0.05
9.40
14.0214.02
113,702.2070.10
Total Average Third Quarter 2023
22.5322.53
Total Average Second Quarter 2023
21.2521.25
Total Average
Fee
82,706.0950.99
Exchange Rate Margin (%)
12.3312.33
Total Cost Percent (%)
22.5322.53
Total Cost (TZS) Total Cost (USD)
182,688.81112.63
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day
Bank account Cash Mobile wallet