Remittance Prices Worldwide

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Transfer money

Sending money from SOUTH AFRICA to NIGERIA

Data collected on: Sep 17, 2019
ZAR | USD
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
Receiving method
Disbursing network coverage
Fee
Exchange rate margin (%)
Total cost (%)
Total cost (ZAR)Total cost (USD)
Firm
ABSA
Firm type: Bank
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
350.0051.09
Exchange rate margin (%)
7.59
Percentage difference between market reference rate 24.55 and exchange rate charged 22.697.59
Total cost (%)
33.1433.14
Total cost (ZAR)Total cost (USD)
454.0266.28
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Fee
27.404.00
Exchange rate margin (%)
2.04
Percentage difference between market reference rate 24.55 and exchange rate charged 24.052.04
Total cost (%)
4.044.04
Total cost (ZAR)Total cost (USD)
55.358.08
Firm
First National Bank of South Africa
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
285.0041.61
Exchange rate margin (%)
3.20
Percentage difference between market reference rate 24.55 and exchange rate charged 23.773.20
Total cost (%)
24.0024.00
Total cost (ZAR)Total cost (USD)
328.8048.00
Firm
Hello-Paisa
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
100.0014.60
Exchange rate margin (%)
4.65
Percentage difference between market reference rate 24.55 and exchange rate charged 23.414.65
Total cost (%)
11.9511.95
Total cost (ZAR)Total cost (USD)
163.7223.90
Firm
Mama Money
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Internet, Mobile phone
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
89.0012.99
Exchange rate margin (%)
2.25
Percentage difference between market reference rate 24.55 and exchange rate charged 24.002.25
Total cost (%)
8.748.74
Total cost (ZAR)Total cost (USD)
119.7417.48
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
199.0429.06
Exchange rate margin (%)
3.63
Percentage difference between market reference rate 0.07 and exchange rate charged 0.073.63
Total cost (%)
18.1618.16
Total cost (ZAR)Total cost (USD)
248.7936.32
Firm
Nedbank
Firm type: Bank
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
290.2442.37
Exchange rate margin (%)
16.97
Percentage difference between market reference rate 24.55 and exchange rate charged 20.3916.97
Total cost (%)
38.1538.15
Total cost (ZAR)Total cost (USD)
522.6676.30
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
214.3531.29
Exchange rate margin (%)
3.63
Percentage difference between market reference rate 0.07 and exchange rate charged 0.073.63
Total cost (%)
19.2819.28
Total cost (ZAR)Total cost (USD)
264.1438.56
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Fee
68.5010.00
Exchange rate margin (%)
4.16
Percentage difference between market reference rate 24.55 and exchange rate charged 23.534.16
Total cost (%)
9.169.16
Total cost (ZAR)Total cost (USD)
125.4918.32
Total Average Third Quarter
18.5118.51
Total Average Second Quarter
14.8214.82
Total Average
Fee
180.3926.33
Exchange Rate Margin (%)
5.355.35
Total Cost Percent (%)
18.5118.51
Total Cost (ZAR) Total Cost (USD)
253.6337.03
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
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
Receiving method
Disbursing network coverage
Feesort descending
Exchange rate margin (%)
Total cost (%)
Total cost (ZAR)Total cost (USD)
Firm
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Transfer speed
Receiving method
Bank branch
Disbursing network coverage
Medium
Feesort descending
N/AN/A
Exchange rate margin (%)
N/A
not availableN/A
Total cost (%)
N/AN/A
Total cost (ZAR)Total cost (USD)
N/AN/A
Firm
Mama Money
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Internet, Mobile phone
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Feesort descending
89.0013.05
Exchange rate margin (%)
2.25
Percentage difference between market reference rate 24.55 and exchange rate charged 24.002.25
Total cost (%)
4.864.86
Total cost (ZAR)Total cost (USD)
165.7324.30
Firm
Hello-Paisa
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Feesort descending
100.0014.66
Exchange rate margin (%)
4.65
Percentage difference between market reference rate 24.55 and exchange rate charged 23.414.65
Total cost (%)
7.587.58
Total cost (ZAR)Total cost (USD)
258.4837.90
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Feesort descending
170.5025.00
Exchange rate margin (%)
4.16
Percentage difference between market reference rate 24.55 and exchange rate charged 23.534.16
Total cost (%)
9.169.16
Total cost (ZAR)Total cost (USD)
312.3645.80
Firm
First National Bank of South Africa
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Feesort descending
285.0041.79
Exchange rate margin (%)
3.20
Percentage difference between market reference rate 24.55 and exchange rate charged 23.773.20
Total cost (%)
11.5611.56
Total cost (ZAR)Total cost (USD)
394.2057.80
Firm
Nedbank
Firm type: Bank
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Feesort descending
290.2442.56
Exchange rate margin (%)
16.97
Percentage difference between market reference rate 24.55 and exchange rate charged 20.3916.97
Total cost (%)
25.4825.48
Total cost (ZAR)Total cost (USD)
868.87127.40
Firm
ABSA
Firm type: Bank
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Feesort descending
350.0051.32
Exchange rate margin (%)
7.59
Percentage difference between market reference rate 24.55 and exchange rate charged 22.697.59
Total cost (%)
17.8617.86
Total cost (ZAR)Total cost (USD)
609.0389.30
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Feesort descending
367.4653.88
Exchange rate margin (%)
3.63
Percentage difference between market reference rate 0.07 and exchange rate charged 0.073.63
Total cost (%)
14.4114.41
Total cost (ZAR)Total cost (USD)
491.3872.05
Firm
Western Union
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
High
Feesort descending
382.7756.12
Exchange rate margin (%)
3.63
Percentage difference between market reference rate 0.07 and exchange rate charged 0.073.63
Total cost (%)
14.8614.86
Total cost (ZAR)Total cost (USD)
506.7374.30
Total Average Third Quarter
13.2213.22
Total Average Second Quarter
8.368.36
Total Average
Fee
254.3737.30
Exchange Rate Margin (%)
5.765.76
Total Cost Percent (%)
13.2213.22
Total Cost (ZAR) Total Cost (USD)
450.8566.11
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
Least Costly Corridors To Nigeria
Least Costly Corridors From South Africa
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