Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From TZTanzania you can also send money to

Sending money from TANZANIA to RWANDA

Data collected on: Nov 18, 2023-Dec 12, 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
140,360.0086.51
15.97
Percentage difference between market reference rate 0.49 and exchange rate charged 0.41
15.97
59.2259.22
192,168.90118.44
KCB Bank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
140,360.0086.51
15.97
Percentage difference between market reference rate 0.49 and exchange rate charged 0.41
15.97
59.2259.22
192,168.90118.44
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
243,747.00150.23
12.69
Percentage difference between market reference rate 0.49 and exchange rate charged 0.43
12.69
87.8087.80
284,911.00175.60
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
243,747.00150.23
12.69
Percentage difference between market reference rate 0.49 and exchange rate charged 0.43
12.69
87.8087.80
284,911.00175.60
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
24,185.2814.91
15.77
Percentage difference between market reference rate 0.49 and exchange rate charged 0.41
15.77
23.2223.22
75,348.9046.44
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
15,204.009.37
15.74
Percentage difference between market reference rate 0.49 and exchange rate charged 0.41
15.74
20.4320.43
66,295.3540.86
Tigo
Firm type: Mobile Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
2,250.001.39
10.08
Percentage difference between market reference rate 0.49 and exchange rate charged 0.44
10.08
10.7710.77
34,948.6521.54
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
Medium
0.000.00
2.71
Percentage difference between market reference rate 0.49 and exchange rate charged 0.48
2.71
2.712.71
8,793.955.42
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
0.000.00
2.38
Percentage difference between market reference rate 0.50 and exchange rate charged 0.49
2.38
2.382.38
7,723.104.76
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
Medium
0.000.00
2.71
Percentage difference between market reference rate 0.49 and exchange rate charged 0.48
2.71
2.712.71
8,793.955.42
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
0.000.00
2.38
Percentage difference between market reference rate 0.50 and exchange rate charged 0.49
2.38
2.382.38
7,723.104.76
Total Average Fourth Quarter 2023
32.6032.60
Total Average Third Quarter 2023
20.1020.10
Total Average
Fee
73,623.0345.38
Exchange Rate Margin (%)
9.929.92
Total Cost Percent (%)
32.6032.60
Total Cost (TZS) Total Cost (USD)
105,798.8065.21
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
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
24,330.0015.00
2.38
Percentage difference between market reference rate 0.50 and exchange rate charged 0.49
2.38
5.385.38
43,631.8026.90
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
24,330.0015.00
2.38
Percentage difference between market reference rate 0.50 and exchange rate charged 0.49
2.38
5.385.38
43,631.8026.90
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
Medium
28,709.4017.70
2.71
Percentage difference between market reference rate 0.49 and exchange rate charged 0.48
2.71
6.256.25
50,687.5031.25
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch
Sending network coverage
High
Receiving method
Bank branch
Medium
28,709.4017.70
2.71
Percentage difference between market reference rate 0.49 and exchange rate charged 0.48
2.71
6.256.25
50,687.5031.25
Tigo
Firm type: Mobile Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
5,250.003.24
6.08
Percentage difference between market reference rate 0.49 and exchange rate charged 0.46
6.08
6.736.73
54,580.3033.65
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
243,747.00150.28
12.69
Percentage difference between market reference rate 0.49 and exchange rate charged 0.43
12.69
42.7542.75
346,702.50213.75
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
243,747.00150.28
12.69
Percentage difference between market reference rate 0.49 and exchange rate charged 0.43
12.69
42.7542.75
346,702.50213.75
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
20,272.0012.50
15.74
Percentage difference between market reference rate 0.49 and exchange rate charged 0.41
15.74
18.2418.24
147,926.4091.20
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
42,119.2825.97
15.77
Percentage difference between market reference rate 0.49 and exchange rate charged 0.41
15.77
20.9620.96
169,985.60104.80
KCB Bank
Firm type: Bank
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Receiving method
High
140,360.0086.54
15.97
Percentage difference between market reference rate 0.49 and exchange rate charged 0.41
15.97
33.2833.28
269,900.80166.40
KCB Bank
Firm type: Bank
Payment instrument
Access point
Call Center
Sending network coverage
Low
Receiving method
High
140,360.0086.54
15.97
Percentage difference between market reference rate 0.49 and exchange rate charged 0.41
15.97
33.2833.28
269,900.80166.40
Total Average Fourth Quarter 2023
20.1120.11
Total Average Third Quarter 2023
14.5514.55
Total Average
Fee
85,630.3752.79
Exchange Rate Margin (%)
9.559.55
Total Cost Percent (%)
20.1120.11
Total Cost (TZS) Total Cost (USD)
163,121.59100.57
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day
Bank account Cash Mobile wallet