Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From TZTanzania you can also send money to

Sending money from TANZANIA to RWANDA

Data collected on: Feb 21, 2022-Mar 10, 2022
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)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.
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Bank branch
Medium
0.000.00
2.65
Percentage difference between market reference rate 0.44 and exchange rate charged 0.43
2.65
2.652.65
8,599.255.30
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
10,000.006.16
0.32
Percentage difference between market reference rate 0.45 and exchange rate charged 0.45
0.32
3.403.40
11,033.006.80
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
Medium
11,487.007.08
2.65
Percentage difference between market reference rate 0.44 and exchange rate charged 0.43
2.65
6.196.19
20,086.5512.38
Tigo
Firm type: Mobile Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
2,250.001.39
6.83
Percentage difference between market reference rate 0.45 and exchange rate charged 0.42
6.83
7.527.52
24,402.4015.04
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
7,646.004.71
7.19
Percentage difference between market reference rate 0.45 and exchange rate charged 0.42
7.19
9.549.54
30,957.3019.08
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
17,500.0010.79
6.17
Percentage difference between market reference rate 0.45 and exchange rate charged 0.42
6.17
11.5611.56
37,512.2023.12
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
96,353.0059.39
0.33
Percentage difference between market reference rate 0.45 and exchange rate charged 0.45
0.33
30.0230.02
97,414.9060.04
KCB Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
115,750.0071.34
-0.72
Percentage difference between market reference rate 0.44 and exchange rate charged 0.44
-0.72
34.9534.95
113,412.7569.90
KCB Bank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
115,750.0071.34
1.75
Percentage difference between market reference rate 0.45 and exchange rate charged 0.44
1.75
37.4237.42
121,427.9074.84
Total Average First Quarter
15.9215.92
Total Average Fourth Quarter 2021
24.3724.37
Total Average
Fee
41,859.5625.80
Exchange Rate Margin (%)
3.023.02
Total Cost Percent (%)
15.9215.92
Total Cost (TZS) Total Cost (USD)
51,649.5831.83
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day Next day
Bank account Cash Mobile wallet
Payment instrument
Access point
Sending network coverage
Receiving method
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
10,000.006.17
0.32
Percentage difference between market reference rate 0.45 and exchange rate charged 0.45
0.32
1.551.55
12,570.507.75
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Bank branch
Medium
28,709.0017.70
2.70
Percentage difference between market reference rate 0.44 and exchange rate charged 0.43
2.70
6.246.24
50,606.4031.20
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
Medium
28,709.0017.70
2.70
Percentage difference between market reference rate 0.44 and exchange rate charged 0.43
2.70
6.246.24
50,606.4031.20
Tigo
Firm type: Mobile Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
5,250.003.24
6.83
Percentage difference between market reference rate 0.45 and exchange rate charged 0.42
6.83
7.477.47
60,581.7037.35
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
19,139.0011.80
7.19
Percentage difference between market reference rate 0.45 and exchange rate charged 0.42
7.19
9.559.55
77,450.5047.75
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
37,500.0023.12
6.17
Percentage difference between market reference rate 0.45 and exchange rate charged 0.42
6.17
10.8010.80
87,588.0054.00
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
96,353.0059.40
0.33
Percentage difference between market reference rate 0.45 and exchange rate charged 0.45
0.33
12.2112.21
99,023.1061.05
KCB Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
115,750.0071.36
-0.72
Percentage difference between market reference rate 0.44 and exchange rate charged 0.44
-0.72
13.5613.56
109,971.6067.80
KCB Bank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
115,750.0071.36
1.75
Percentage difference between market reference rate 0.45 and exchange rate charged 0.44
1.75
16.0316.03
130,003.3080.15
Total Average First Quarter
9.299.29
Total Average Fourth Quarter 2021
15.3815.38
Total Average
Fee
50,795.5631.32
Exchange Rate Margin (%)
3.033.03
Total Cost Percent (%)
9.299.29
Total Cost (TZS) Total Cost (USD)
75,377.9446.47
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day Next day
Bank account Cash Mobile wallet