Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From ZASouth Africa you can also send money to

Sending money from SOUTH AFRICA to BOTSWANA

Data collected on: Oct 28, 2020
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)Total cost (USD)
The total cost of sending a remittance transfer includes: the fee charged to the sender plus the exchange rate margin.
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
304.0144.38
9.56
Percentage difference between market reference rate 0.70 and exchange rate charged 0.63
9.56
31.7531.75
434.9863.50
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
304.0144.38
8.67
Percentage difference between market reference rate 0.70 and exchange rate charged 0.64
8.67
30.8730.87
422.9261.74
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
High
118.7117.33
1.11
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
1.11
9.779.77
133.8519.54
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
47.957.00
1.94
Percentage difference between market reference rate 0.70 and exchange rate charged 0.69
1.94
5.445.44
74.5310.88
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
370.0054.01
4.25
Percentage difference between market reference rate 0.70 and exchange rate charged 0.67
4.25
31.2631.26
428.2662.52
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
260.0037.96
4.25
Percentage difference between market reference rate 0.70 and exchange rate charged 0.67
4.25
23.2323.23
318.2546.46
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
High
375.0054.74
2.01
Percentage difference between market reference rate 0.70 and exchange rate charged 0.68
2.01
29.3829.38
402.5158.76
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
295.0043.07
2.01
Percentage difference between market reference rate 0.70 and exchange rate charged 0.68
2.01
23.5423.54
322.5047.08
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
68.459.99
1.67
Percentage difference between market reference rate 0.70 and exchange rate charged 0.69
1.67
6.666.66
91.2413.32
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
166.0924.25
2.03
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
2.03
14.1614.16
193.9928.32
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center, Internet
Sending network coverage
High
Receiving method
Agent
High
125.0018.25
1.33
Percentage difference between market reference rate 0.70 and exchange rate charged 0.69
1.33
10.4510.45
143.1720.90
Total Average Fourth Quarter 2020
19.6819.68
Total Average Third Quarter 2020
20.7320.73
Total Average
Fee
221.2932.31
Exchange Rate Margin (%)
3.533.53
Total Cost Percent (%)
19.6819.68
Total Cost (ZAR) Total Cost (USD)
269.6539.37
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour 2 days 3-5 days
Bank account Cash Mobile wallet
Payment instrument
Access point
Sending network coverage
Receiving method
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
119.3517.50
1.94
Percentage difference between market reference rate 0.70 and exchange rate charged 0.69
1.94
5.445.44
185.5027.20
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
370.0054.25
4.25
Percentage difference between market reference rate 0.70 and exchange rate charged 0.67
4.25
15.1015.10
514.9175.50
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
260.0038.12
4.25
Percentage difference between market reference rate 0.70 and exchange rate charged 0.67
4.25
11.8811.88
405.1159.40
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
High
375.0054.99
2.01
Percentage difference between market reference rate 0.70 and exchange rate charged 0.68
2.01
13.0013.00
443.3065.00
First National Bank of South Africa
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
295.0043.26
2.01
Percentage difference between market reference rate 0.70 and exchange rate charged 0.68
2.01
10.6610.66
363.5153.30
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
68.4510.04
1.67
Percentage difference between market reference rate 0.70 and exchange rate charged 0.69
1.67
3.673.67
125.1518.35
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
215.9231.66
2.03
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
2.03
8.378.37
285.4241.85
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center, Internet
Sending network coverage
High
Receiving method
Agent
High
311.0045.60
1.33
Percentage difference between market reference rate 0.70 and exchange rate charged 0.69
1.33
10.4510.45
356.3552.25
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
304.0144.58
9.56
Percentage difference between market reference rate 0.70 and exchange rate charged 0.63
9.56
18.4818.48
630.1792.40
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
304.0144.58
8.67
Percentage difference between market reference rate 0.70 and exchange rate charged 0.64
8.67
17.5917.59
599.8287.95
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
High
231.1333.89
1.11
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
1.11
7.887.88
268.7139.40
Total Average Fourth Quarter 2020
11.1411.14
Total Average Third Quarter 2020
12.4412.44
Total Average
Fee
259.4438.04
Exchange Rate Margin (%)
3.533.53
Total Cost Percent (%)
11.1411.14
Total Cost (ZAR) Total Cost (USD)
379.8155.69
Non-Transparent records
Bank account transfer Debit/credit card Cash
Less than one hour 2 days 3-5 days
Bank account Cash Mobile wallet