Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From ZASouth Africa you can also send money to

Sending money from SOUTH AFRICA to NIGERIA

Data collected on: Mar 23, 2021
ZAR | 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 (ZAR)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.
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
Medium
24.003.50
2.56
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.56
4.314.31
59.058.62
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Bank branch
Medium
44.186.45
1.60
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.60
4.824.82
66.039.64
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
86.2512.59
3.44
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
3.44
9.749.74
133.4419.48
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
100.0014.60
3.90
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
3.90
11.2011.20
153.4422.40
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
High
171.5125.04
1.00
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.00
13.5213.52
185.2227.04
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
151.7822.16
2.72
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.72
13.8013.80
189.0627.60
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Medium
66.009.64
9.31
Percentage difference between market reference rate 0.07 and exchange rate charged 0.06
9.31
14.1314.13
193.5828.26
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
295.0043.07
1.62
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.62
23.1523.15
317.1646.30
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
304.0144.38
2.49
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.49
24.6824.68
338.1249.36
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
375.0054.74
1.62
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.62
28.9928.99
397.1657.98
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
410.0059.85
1.18
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.18
31.1031.10
426.0762.20
Total Average First Quarter
16.3116.31
Total Average Fourth Quarter 2020
14.4714.47
Total Average
Fee
184.3426.91
Exchange Rate Margin (%)
2.862.86
Total Cost Percent (%)
16.3116.31
Total Cost (ZAR) Total Cost (USD)
223.4832.63
Non-Transparent records
Bank account transfer Debit/credit card Mobile money Cash
Less than one hour Same day 3-5 days
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
Bank branch, Internet
Sending network coverage
High
Receiving method
Bank branch
Medium
N/AN/A
N/A
not available
N/A
N/AN/A
N/AN/A
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
Medium
24.003.52
2.56
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.56
3.263.26
111.1716.30
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
86.2512.65
3.44
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
3.44
5.975.97
203.5829.85
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
100.0014.66
3.90
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
3.90
6.836.83
232.9034.15
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
High
274.4240.24
1.00
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.00
9.059.05
308.6145.25
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
227.6733.38
2.72
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.72
9.409.40
320.5447.00
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
295.0043.26
1.62
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.62
10.2710.27
350.2151.35
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
304.0144.58
2.49
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.49
11.4111.41
389.0857.05
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Medium
89.0013.05
9.32
Percentage difference between market reference rate 0.07 and exchange rate charged 0.06
9.32
11.9311.93
406.8159.65
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
375.0054.99
1.62
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.62
12.6212.62
430.3463.10
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
410.0060.12
1.18
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.18
13.2013.20
450.1266.00
Total Average First Quarter
9.399.39
Total Average Fourth Quarter 2020
8.608.60
Total Average
Fee
218.5432.04
Exchange Rate Margin (%)
2.992.99
Total Cost Percent (%)
9.399.39
Total Cost (ZAR) Total Cost (USD)
320.3446.97
Non-Transparent records
Bank account transfer Debit/credit card Mobile money Cash
Less than one hour Same day 3-5 days
Bank account Cash Mobile wallet