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: 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)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
0.000.00
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.000.00
0.000.00
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
47.957.00
1.86
Percentage difference between market reference rate 46.50 and exchange rate charged 45.63
1.86
5.365.36
73.4310.72
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
47.947.00
1.86
Percentage difference between market reference rate 46.50 and exchange rate charged 45.63
1.86
5.365.36
73.4310.72
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Medium
66.009.64
1.84
Percentage difference between market reference rate 46.50 and exchange rate charged 45.64
1.84
6.666.66
91.2413.32
SFX
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
17.252.52
5.92
Percentage difference between market reference rate 46.50 and exchange rate charged 43.75
5.92
7.187.18
98.3714.36
EcoCash Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
Medium
Receiving method
High
20.553.00
6.49
Percentage difference between market reference rate 46.50 and exchange rate charged 43.48
6.49
7.997.99
109.4615.98
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
137.0020.00
-1.30
Percentage difference between market reference rate 46.50 and exchange rate charged 47.10
-1.30
8.708.70
119.1917.40
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
125.0018.25
0.18
Percentage difference between market reference rate 46.50 and exchange rate charged 46.41
0.18
9.319.31
127.5518.62
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
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
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
304.0144.38
3.05
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
3.05
25.2425.24
345.7950.48
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
304.0144.38
4.82
Percentage difference between market reference rate 46.50 and exchange rate charged 44.26
4.82
27.0127.01
370.0454.02
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
260.0037.96
9.79
Percentage difference between market reference rate 46.50 and exchange rate charged 41.94
9.79
28.7728.77
394.1557.54
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
9.63
Percentage difference between market reference rate 46.50 and exchange rate charged 42.02
9.63
31.1731.17
427.0362.34
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
370.0054.01
9.79
Percentage difference between market reference rate 46.50 and exchange rate charged 41.94
9.79
36.8036.80
504.1673.60
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
9.63
Percentage difference between market reference rate 46.50 and exchange rate charged 42.02
9.63
37.0137.01
507.0474.02
Total Average Fourth Quarter 2020
16.2816.28
Total Average Third Quarter 2020
16.2616.26
Total Average
Fee
165.9124.22
Exchange Rate Margin (%)
4.174.17
Total Cost Percent (%)
16.2816.28
Total Cost (ZAR) Total Cost (USD)
223.0532.56
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
Agent
High
119.3517.50
1.86
Percentage difference between market reference rate 46.50 and exchange rate charged 45.63
1.86
5.365.36
182.7826.80
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Medium
119.3517.50
1.86
Percentage difference between market reference rate 46.50 and exchange rate charged 45.63
1.86
5.365.36
182.7826.80
SFX
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Medium
17.252.53
5.92
Percentage difference between market reference rate 46.50 and exchange rate charged 43.75
5.92
6.426.42
218.9232.10
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Medium
163.0023.90
1.84
Percentage difference between market reference rate 46.50 and exchange rate charged 45.64
1.84
6.626.62
225.7433.10
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
EcoCash Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
Medium
Receiving method
High
51.157.50
6.49
Percentage difference between market reference rate 46.50 and exchange rate charged 43.48
6.49
7.997.99
272.4639.95
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
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
341.0050.00
-1.30
Percentage difference between market reference rate 46.50 and exchange rate charged 47.10
-1.30
8.708.70
296.6743.50
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
311.0045.60
0.18
Percentage difference between market reference rate 46.50 and exchange rate charged 46.41
0.18
9.319.31
317.4746.55
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
304.0144.58
3.05
Percentage difference between market reference rate 0.06 and exchange rate charged 0.06
3.05
11.9711.97
408.1859.85
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
304.0144.58
4.82
Percentage difference between market reference rate 46.50 and exchange rate charged 44.26
4.82
13.7313.73
468.1968.65
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
Medium
260.0038.12
9.79
Percentage difference between market reference rate 46.50 and exchange rate charged 41.94
9.79
17.4117.41
593.6887.05
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
9.63
Percentage difference between market reference rate 46.50 and exchange rate charged 42.02
9.63
18.2818.28
623.3591.40
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
Medium
375.0054.99
9.63
Percentage difference between market reference rate 46.50 and exchange rate charged 42.02
9.63
20.6320.63
703.48103.15
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
Medium
370.0054.25
9.79
Percentage difference between market reference rate 46.50 and exchange rate charged 41.94
9.79
20.6420.64
703.82103.20
Total Average Fourth Quarter 2020
11.2411.24
Total Average Third Quarter 2020
10.8910.89
Total Average
Fee
231.8133.99
Exchange Rate Margin (%)
4.454.45
Total Cost Percent (%)
11.2411.24
Total Cost (ZAR) Total Cost (USD)
383.4456.22
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