Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Transfer money

Sending money from TANZANIA to UGANDA

Data collected on: Feb 21, 2022-Feb 24, 2022
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
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Fee
0.000.00
Exchange rate margin (%)
3.48
Percentage difference between market reference rate 1.53 and exchange rate charged 1.483.48
Total cost (%)
3.483.48
Total cost (TZS)sort descendingTotal cost (USD)sort descending
11,292.606.96
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
7,646.004.71
Exchange rate margin (%)
2.18
Percentage difference between market reference rate 1.52 and exchange rate charged 1.492.18
Total cost (%)
4.544.54
Total cost (TZS)sort descendingTotal cost (USD)sort descending
14,732.309.08
Firm
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
9,400.005.79
Exchange rate margin (%)
2.86
Percentage difference between market reference rate 1.52 and exchange rate charged 1.482.86
Total cost (%)
5.755.75
Total cost (TZS)sort descendingTotal cost (USD)sort descending
18,658.7511.50
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Fee
9,739.806.00
Exchange rate margin (%)
3.48
Percentage difference between market reference rate 1.53 and exchange rate charged 1.483.48
Total cost (%)
6.496.49
Total cost (TZS)sort descendingTotal cost (USD)sort descending
21,060.0512.98
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
17,500.0010.79
Exchange rate margin (%)
2.59
Percentage difference between market reference rate 1.52 and exchange rate charged 1.482.59
Total cost (%)
7.987.98
Total cost (TZS)sort descendingTotal cost (USD)sort descending
25,895.1015.96
Firm
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
96,353.0059.39
Exchange rate margin (%)
2.80
Percentage difference between market reference rate 1.52 and exchange rate charged 1.482.80
Total cost (%)
32.5032.50
Total cost (TZS)sort descendingTotal cost (USD)sort descending
105,462.5065.00
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
115,750.0071.34
Exchange rate margin (%)
-1.06
Percentage difference between market reference rate 1.52 and exchange rate charged 1.54-1.06
Total cost (%)
34.6134.61
Total cost (TZS)sort descendingTotal cost (USD)sort descending
112,309.4569.22
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
115,750.0071.34
Exchange rate margin (%)
-0.99
Percentage difference between market reference rate 1.52 and exchange rate charged 1.54-0.99
Total cost (%)
34.6834.68
Total cost (TZS)sort descendingTotal cost (USD)sort descending
112,536.6069.36
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
116,650.0071.90
Exchange rate margin (%)
4.54
Percentage difference between market reference rate 1.52 and exchange rate charged 1.454.54
Total cost (%)
40.4840.48
Total cost (TZS)sort descendingTotal cost (USD)sort descending
131,357.6080.96
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
116,650.0071.90
Exchange rate margin (%)
4.55
Percentage difference between market reference rate 1.52 and exchange rate charged 1.454.55
Total cost (%)
40.5040.50
Total cost (TZS)sort descendingTotal cost (USD)sort descending
131,422.5081.00
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
198,305.00122.22
Exchange rate margin (%)
3.84
Percentage difference between market reference rate 1.52 and exchange rate charged 1.463.84
Total cost (%)
64.9564.95
Total cost (TZS)sort descendingTotal cost (USD)sort descending
210,762.75129.90
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
198,305.00122.22
Exchange rate margin (%)
3.85
Percentage difference between market reference rate 1.52 and exchange rate charged 1.463.85
Total cost (%)
64.9664.96
Total cost (TZS)sort descendingTotal cost (USD)sort descending
210,795.20129.92
Total Average First Quarter
28.4128.41
Total Average Fourth Quarter 2021
29.6829.68
Total Average
Fee
83,504.0751.47
Exchange Rate Margin (%)
2.682.68
Total Cost Percent (%)
28.4128.41
Total Cost (TZS) Total Cost (USD)
92,190.4556.82
Non-Transparent records
Bank account transfer Cash
Less than one hour Same day Next day 2 days
Bank account Cash
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
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
11,200.006.91
Exchange rate margin (%)
2.86
Percentage difference between market reference rate 1.52 and exchange rate charged 1.482.86
Total cost (%)
4.244.24
Total cost (TZS)sort descendingTotal cost (USD)sort descending
34,386.4021.20
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 (%)
2.18
Percentage difference between market reference rate 1.52 and exchange rate charged 1.492.18
Total cost (%)
4.544.54
Total cost (TZS)sort descendingTotal cost (USD)sort descending
36,819.4022.70
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Fee
24,330.0015.00
Exchange rate margin (%)
3.48
Percentage difference between market reference rate 1.53 and exchange rate charged 1.483.48
Total cost (%)
6.486.48
Total cost (TZS)sort descendingTotal cost (USD)sort descending
52,552.8032.40
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Fee
24,330.0015.00
Exchange rate margin (%)
3.48
Percentage difference between market reference rate 1.53 and exchange rate charged 1.483.48
Total cost (%)
6.486.48
Total cost (TZS)sort descendingTotal cost (USD)sort descending
52,552.8032.40
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
37,500.0023.12
Exchange rate margin (%)
2.59
Percentage difference between market reference rate 1.52 and exchange rate charged 1.482.59
Total cost (%)
7.217.21
Total cost (TZS)sort descendingTotal cost (USD)sort descending
58,473.1036.05
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
115,750.0071.36
Exchange rate margin (%)
-1.06
Percentage difference between market reference rate 1.52 and exchange rate charged 1.54-1.06
Total cost (%)
13.2113.21
Total cost (TZS)sort descendingTotal cost (USD)sort descending
107,133.1066.05
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
115,750.0071.36
Exchange rate margin (%)
-0.99
Percentage difference between market reference rate 1.52 and exchange rate charged 1.54-0.99
Total cost (%)
13.2813.28
Total cost (TZS)sort descendingTotal cost (USD)sort descending
107,700.8066.40
Firm
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
96,353.0059.40
Exchange rate margin (%)
2.80
Percentage difference between market reference rate 1.52 and exchange rate charged 1.482.80
Total cost (%)
14.6814.68
Total cost (TZS)sort descendingTotal cost (USD)sort descending
119,054.8073.40
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
116,650.0071.92
Exchange rate margin (%)
4.54
Percentage difference between market reference rate 1.52 and exchange rate charged 1.454.54
Total cost (%)
18.9218.92
Total cost (TZS)sort descendingTotal cost (USD)sort descending
153,441.2094.60
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
116,650.0071.92
Exchange rate margin (%)
4.55
Percentage difference between market reference rate 1.52 and exchange rate charged 1.454.55
Total cost (%)
18.9318.93
Total cost (TZS)sort descendingTotal cost (USD)sort descending
153,522.3094.65
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
198,305.00122.26
Exchange rate margin (%)
3.84
Percentage difference between market reference rate 1.52 and exchange rate charged 1.463.84
Total cost (%)
28.2928.29
Total cost (TZS)sort descendingTotal cost (USD)sort descending
229,431.90141.45
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
198,305.00122.26
Exchange rate margin (%)
3.85
Percentage difference between market reference rate 1.52 and exchange rate charged 1.463.85
Total cost (%)
28.3028.30
Total cost (TZS)sort descendingTotal cost (USD)sort descending
229,513.00141.50
Total Average First Quarter
13.7113.71
Total Average Fourth Quarter 2021
14.6414.64
Total Average
Fee
89,521.8355.19
Exchange Rate Margin (%)
2.682.68
Total Cost Percent (%)
13.7113.71
Total Cost (TZS) Total Cost (USD)
111,215.1368.57
Non-Transparent records
Bank account transfer Cash
Less than one hour Same day Next day 2 days
Bank account Cash
Least Costly Corridors To Uganda
Least Costly Corridors From Tanzania
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