Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

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Transfer money

Sending money from TANZANIA to UGANDA

Data collected on: Feb 20, 2023-Mar 08, 2023
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
20,650.0012.73
Exchange rate margin (%)
1.49
Percentage difference between market reference rate 1.59 and exchange rate charged 1.571.49
Total cost (%)
7.857.85
Total cost (TZS)sort descendingTotal cost (USD)sort descending
25,473.2515.70
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
7,658.204.72
Exchange rate margin (%)
6.83
Percentage difference between market reference rate 1.59 and exchange rate charged 1.486.83
Total cost (%)
9.199.19
Total cost (TZS)sort descendingTotal cost (USD)sort descending
29,821.5518.38
Firm
Kenya Commercial Bank (KCB)
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
114,900.0070.82
Exchange rate margin (%)
-0.92
Percentage difference between market reference rate 1.57 and exchange rate charged 1.59-0.92
Total cost (%)
34.4934.49
Total cost (TZS)sort descendingTotal cost (USD)sort descending
111,920.0568.98
Firm
Kenya Commercial Bank (KCB)
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
114,900.0070.82
Exchange rate margin (%)
-0.92
Percentage difference between market reference rate 1.57 and exchange rate charged 1.59-0.92
Total cost (%)
34.4934.49
Total cost (TZS)sort descendingTotal cost (USD)sort descending
111,920.0568.98
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
114,900.0070.82
Exchange rate margin (%)
-0.05
Percentage difference between market reference rate 1.59 and exchange rate charged 1.59-0.05
Total cost (%)
35.3635.36
Total cost (TZS)sort descendingTotal cost (USD)sort descending
114,743.2070.72
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
114,900.0070.82
Exchange rate margin (%)
-0.05
Percentage difference between market reference rate 1.59 and exchange rate charged 1.59-0.05
Total cost (%)
35.3635.36
Total cost (TZS)sort descendingTotal cost (USD)sort descending
114,743.2070.72
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
137,880.0084.98
Exchange rate margin (%)
3.40
Percentage difference between market reference rate 1.57 and exchange rate charged 1.523.40
Total cost (%)
45.8945.89
Total cost (TZS)sort descendingTotal cost (USD)sort descending
148,913.0591.78
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
137,880.0084.98
Exchange rate margin (%)
3.40
Percentage difference between market reference rate 1.57 and exchange rate charged 1.523.40
Total cost (%)
45.8945.89
Total cost (TZS)sort descendingTotal cost (USD)sort descending
148,913.0591.78
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
137,880.0084.98
Exchange rate margin (%)
5.05
Percentage difference between market reference rate 1.59 and exchange rate charged 1.515.05
Total cost (%)
47.5447.54
Total cost (TZS)sort descendingTotal cost (USD)sort descending
154,267.3095.08
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
137,880.0084.98
Exchange rate margin (%)
5.05
Percentage difference between market reference rate 1.59 and exchange rate charged 1.515.05
Total cost (%)
47.5447.54
Total cost (TZS)sort descendingTotal cost (USD)sort descending
154,267.3095.08
Total Average First Quarter
34.3634.36
Total Average Fourth Quarter 2022
35.5435.54
Total Average
Fee
103,942.8264.06
Exchange Rate Margin (%)
2.332.33
Total Cost Percent (%)
34.3634.36
Total Cost (TZS) Total Cost (USD)
111,498.2068.72
Non-Transparent records
Bank account transfer Cash
Less than one hour Same day
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
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
44,250.0027.28
Exchange rate margin (%)
1.49
Percentage difference between market reference rate 1.59 and exchange rate charged 1.571.49
Total cost (%)
6.956.95
Total cost (TZS)sort descendingTotal cost (USD)sort descending
56,364.5034.75
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
18,988.0011.71
Exchange rate margin (%)
6.83
Percentage difference between market reference rate 1.59 and exchange rate charged 1.486.83
Total cost (%)
9.179.17
Total cost (TZS)sort descendingTotal cost (USD)sort descending
74,368.7045.85
Firm
Kenya Commercial Bank (KCB)
Firm type: Bank
 
Payment instrument
Access point
Bank branch
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
114,900.0070.84
Exchange rate margin (%)
-0.92
Percentage difference between market reference rate 1.57 and exchange rate charged 1.59-0.92
Total cost (%)
13.2513.25
Total cost (TZS)sort descendingTotal cost (USD)sort descending
107,457.5066.25
Firm
Kenya Commercial Bank (KCB)
Firm type: Bank
 
Payment instrument
Access point
Call Center
Sending network coverage
Low
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
114,900.0070.84
Exchange rate margin (%)
-0.92
Percentage difference between market reference rate 1.57 and exchange rate charged 1.59-0.92
Total cost (%)
13.2513.25
Total cost (TZS)sort descendingTotal cost (USD)sort descending
107,457.5066.25
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
114,900.0070.84
Exchange rate margin (%)
-0.05
Percentage difference between market reference rate 1.59 and exchange rate charged 1.59-0.05
Total cost (%)
14.1214.12
Total cost (TZS)sort descendingTotal cost (USD)sort descending
114,513.2070.60
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
114,900.0070.84
Exchange rate margin (%)
-0.05
Percentage difference between market reference rate 1.59 and exchange rate charged 1.59-0.05
Total cost (%)
14.1214.12
Total cost (TZS)sort descendingTotal cost (USD)sort descending
114,513.2070.60
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
137,880.0085.01
Exchange rate margin (%)
3.40
Percentage difference between market reference rate 1.57 and exchange rate charged 1.523.40
Total cost (%)
20.4020.40
Total cost (TZS)sort descendingTotal cost (USD)sort descending
165,444.00102.00
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
137,880.0085.01
Exchange rate margin (%)
3.40
Percentage difference between market reference rate 1.57 and exchange rate charged 1.523.40
Total cost (%)
20.4020.40
Total cost (TZS)sort descendingTotal cost (USD)sort descending
165,444.00102.00
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
137,880.0085.01
Exchange rate margin (%)
5.05
Percentage difference between market reference rate 1.59 and exchange rate charged 1.515.05
Total cost (%)
22.0522.05
Total cost (TZS)sort descendingTotal cost (USD)sort descending
178,825.50110.25
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
137,880.0085.01
Exchange rate margin (%)
5.05
Percentage difference between market reference rate 1.59 and exchange rate charged 1.515.05
Total cost (%)
22.0522.05
Total cost (TZS)sort descendingTotal cost (USD)sort descending
178,825.50110.25
Total Average First Quarter
15.5815.58
Total Average Fourth Quarter 2022
16.5316.53
Total Average
Fee
107,435.8066.24
Exchange Rate Margin (%)
2.332.33
Total Cost Percent (%)
15.5815.58
Total Cost (TZS) Total Cost (USD)
126,321.3677.88
Non-Transparent records
Bank account transfer Cash
Less than one hour Same day
Bank account Cash
Least Costly Corridors To Uganda
Least Costly Corridors From Tanzania
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