Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From ZASouth Africa you can also send money to

Sending money from SOUTH AFRICA to MALAWI

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.
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Bank branch
Medium
41.106.00
-3.78
Percentage difference between market reference rate 52.95 and exchange rate charged 54.95
-3.78
-0.78-0.78
-10.69-1.56
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
47.957.00
0.95
Percentage difference between market reference rate 52.95 and exchange rate charged 52.44
0.95
4.454.45
60.978.90
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
47.957.00
0.95
Percentage difference between market reference rate 52.95 and exchange rate charged 52.44
0.95
4.454.45
60.978.90
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
17.252.52
5.96
Percentage difference between market reference rate 52.95 and exchange rate charged 49.79
5.96
7.227.22
98.9114.44
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
125.0018.25
-0.37
Percentage difference between market reference rate 52.95 and exchange rate charged 53.14
-0.37
8.768.76
120.0117.52
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
High
120.0617.53
1.00
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.00
9.779.77
133.8519.54
EcoCash Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
Medium
Receiving method
High
23.633.45
8.30
Percentage difference between market reference rate 52.95 and exchange rate charged 48.55
8.30
10.0310.03
137.4120.06
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
137.0020.00
0.47
Percentage difference between market reference rate 52.95 and exchange rate charged 52.70
0.47
10.4710.47
143.4420.94
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Medium
66.009.64
5.83
Percentage difference between market reference rate 52.95 and exchange rate charged 49.86
5.83
10.6410.64
145.7721.28
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
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
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
307.5744.90
4.18
Percentage difference between market reference rate 52.95 and exchange rate charged 50.73
4.18
26.6326.63
364.8353.26
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
6.96
Percentage difference between market reference rate 52.95 and exchange rate charged 49.26
6.96
28.4928.49
390.3156.98
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
280.0040.88
8.74
Percentage difference between market reference rate 52.95 and exchange rate charged 48.32
8.74
29.1829.18
399.7758.36
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
6.96
Percentage difference between market reference rate 52.95 and exchange rate charged 49.26
6.96
34.3334.33
470.3268.66
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
410.0059.85
8.74
Percentage difference between market reference rate 52.95 and exchange rate charged 48.32
8.74
38.6738.67
529.7877.34
Total Average First Quarter
16.3016.30
Total Average Fourth Quarter 2020
16.2816.28
Total Average
Fee
171.8325.08
Exchange Rate Margin (%)
3.763.76
Total Cost Percent (%)
16.3016.30
Total Cost (ZAR) Total Cost (USD)
223.3032.60
Non-Transparent records
Bank account transfer Debit/credit card Mobile money Cash
Less than one hour Same day 2 days 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
Medium
119.3517.50
0.95
Percentage difference between market reference rate 52.95 and exchange rate charged 52.44
0.95
4.454.45
151.7522.25
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
119.3517.50
0.95
Percentage difference between market reference rate 52.95 and exchange rate charged 52.44
0.95
4.454.45
151.7522.25
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
17.252.53
5.96
Percentage difference between market reference rate 52.95 and exchange rate charged 49.79
5.96
6.476.47
220.6332.35
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
High
205.8530.18
1.00
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.00
7.047.04
240.0635.20
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
310.0045.45
-0.37
Percentage difference between market reference rate 52.95 and exchange rate charged 53.14
-0.37
8.728.72
297.3543.60
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
EcoCash Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
Medium
Receiving method
High
58.828.62
8.30
Percentage difference between market reference rate 52.95 and exchange rate charged 48.55
8.30
10.0310.03
342.0250.15
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
341.0050.00
0.47
Percentage difference between market reference rate 52.95 and exchange rate charged 52.70
0.47
10.4710.47
357.0352.35
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Medium
163.0023.90
5.83
Percentage difference between market reference rate 52.95 and exchange rate charged 49.86
5.83
10.6110.61
361.8053.05
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
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
307.5745.10
4.18
Percentage difference between market reference rate 52.95 and exchange rate charged 50.73
4.18
13.2013.20
450.1266.00
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
6.96
Percentage difference between market reference rate 52.95 and exchange rate charged 49.26
6.96
15.6115.61
532.3078.05
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
280.0041.06
8.74
Percentage difference between market reference rate 52.95 and exchange rate charged 48.32
8.74
16.9516.95
578.0084.75
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
6.96
Percentage difference between market reference rate 52.95 and exchange rate charged 49.26
6.96
17.9617.96
612.4489.80
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
410.0060.12
8.74
Percentage difference between market reference rate 52.95 and exchange rate charged 48.32
8.74
20.7620.76
707.92103.80
Total Average First Quarter
11.1711.17
Total Average Fourth Quarter 2020
11.2411.24
Total Average
Fee
235.5934.54
Exchange Rate Margin (%)
4.264.26
Total Cost Percent (%)
11.1711.17
Total Cost (ZAR) Total Cost (USD)
380.8555.84
Non-Transparent records
Bank account transfer Debit/credit card Mobile money Cash
Less than one hour Same day 2 days 3-5 days
Bank account Cash Mobile wallet