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Transfer money

Sending money from SOUTH AFRICA to MALAWI

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
Standard Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
307.9644.96
Exchange rate margin (%)
3.48
Percentage difference between market reference rate 49.47 and exchange rate charged 47.743.48
Total cost (%)
25.9625.96
Total cost (ZAR)Total cost (USD)
355.6551.92
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 (%)
1.28
Percentage difference between market reference rate 0.07 and exchange rate charged 0.071.28
Total cost (%)
26.8326.83
Total cost (ZAR)Total cost (USD)
367.5753.66
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
ABSA
Firm type: Bank
 
Payment instrument
Access point
Internet
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
250.0036.50
Exchange rate margin (%)
1.28
Percentage difference between market reference rate 0.07 and exchange rate charged 0.071.28
Total cost (%)
19.5319.53
Total cost (ZAR)Total cost (USD)
267.5639.06
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
47.957.00
Exchange rate margin (%)
1.23
Percentage difference between market reference rate 49.47 and exchange rate charged 48.861.23
Total cost (%)
4.734.73
Total cost (ZAR)Total cost (USD)
64.809.46
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 (%)
0.52
Percentage difference between market reference rate 49.47 and exchange rate charged 49.210.52
Total cost (%)
2.522.52
Total cost (ZAR)Total cost (USD)
34.525.04
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
Medium
Fee
47.957.00
Exchange rate margin (%)
1.23
Percentage difference between market reference rate 49.47 and exchange rate charged 48.861.23
Total cost (%)
4.734.73
Total cost (ZAR)Total cost (USD)
64.809.46
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 (%)
9.26
Percentage difference between market reference rate 49.47 and exchange rate charged 44.899.26
Total cost (%)
30.0630.06
Total cost (ZAR)Total cost (USD)
411.8260.12
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
47.957.00
Exchange rate margin (%)
1.23
Percentage difference between market reference rate 49.47 and exchange rate charged 48.861.23
Total cost (%)
4.734.73
Total cost (ZAR)Total cost (USD)
64.809.46
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
137.0020.00
Exchange rate margin (%)
-0.27
Percentage difference between market reference rate 49.47 and exchange rate charged 49.60-0.27
Total cost (%)
9.739.73
Total cost (ZAR)Total cost (USD)
133.3019.46
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
66.009.64
Exchange rate margin (%)
3.51
Percentage difference between market reference rate 49.47 and exchange rate charged 47.733.51
Total cost (%)
8.338.33
Total cost (ZAR)Total cost (USD)
114.1216.66
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
Mukuru
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Call Center, Internet
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
137.0020.00
Exchange rate margin (%)
-0.04
Percentage difference between market reference rate 49.47 and exchange rate charged 49.49-0.04
Total cost (%)
9.969.96
Total cost (ZAR)Total cost (USD)
136.4519.92
Firm
Mukuru
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
137.0020.00
Exchange rate margin (%)
-0.04
Percentage difference between market reference rate 49.47 and exchange rate charged 49.49-0.04
Total cost (%)
9.969.96
Total cost (ZAR)Total cost (USD)
136.4519.92
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 (%)
1.28
Percentage difference between market reference rate 49.47 and exchange rate charged 48.831.28
Total cost (%)
22.4722.47
Total cost (ZAR)Total cost (USD)
307.8444.94
Total Average Third Quarter
14.4714.47
Total Average Second Quarter
15.2415.24
Total Average
Fee
169.6624.77
Exchange Rate Margin (%)
2.082.08
Total Cost Percent (%)
14.4714.47
Total Cost (ZAR) Total Cost (USD)
198.1728.93
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
Firm
Payment instrument
Access point
Sending network coverage
Transfer speed
Receiving method
Disbursing network coverage
Fee
Exchange rate margin (%)
Total cost (%)
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
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
285.0041.79
Exchange rate margin (%)
9.26
Percentage difference between market reference rate 49.47 and exchange rate charged 44.899.26
Total cost (%)
17.6217.62
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
600.8488.10
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
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)sort ascendingTotal cost (USD)sort ascending
506.7374.30
Firm
MoneyGram
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
High
Fee
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)sort ascendingTotal cost (USD)sort ascending
491.3872.05
Firm
Standard Bank
Firm type: Bank
 
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
307.9645.16
Exchange rate margin (%)
3.48
Percentage difference between market reference rate 49.47 and exchange rate charged 47.743.48
Total cost (%)
12.5112.51
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
426.5962.55
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
350.0051.32
Exchange rate margin (%)
1.28
Percentage difference between market reference rate 0.07 and exchange rate charged 0.071.28
Total cost (%)
11.5511.55
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
393.8657.75
Firm
Mukuru
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent, Call Center, Internet
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
341.0050.00
Exchange rate margin (%)
-0.04
Percentage difference between market reference rate 49.47 and exchange rate charged 49.49-0.04
Total cost (%)
9.969.96
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
339.6449.80
Firm
Mukuru
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Agent
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
341.0050.00
Exchange rate margin (%)
-0.04
Percentage difference between market reference rate 49.47 and exchange rate charged 49.49-0.04
Total cost (%)
9.969.96
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
339.6449.80
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
Fee
290.2442.56
Exchange rate margin (%)
1.28
Percentage difference between market reference rate 49.47 and exchange rate charged 48.831.28
Total cost (%)
9.799.79
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
333.8448.95
Firm
ABSA
Firm type: Bank
 
Payment instrument
Access point
Internet
Sending network coverage
Medium
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
250.0036.66
Exchange rate margin (%)
1.28
Percentage difference between market reference rate 0.07 and exchange rate charged 0.071.28
Total cost (%)
8.628.62
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
293.9443.10
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
66.009.68
Exchange rate margin (%)
3.51
Percentage difference between market reference rate 49.47 and exchange rate charged 47.733.51
Total cost (%)
5.455.45
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
185.8527.25
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
119.3517.50
Exchange rate margin (%)
1.23
Percentage difference between market reference rate 49.47 and exchange rate charged 48.861.23
Total cost (%)
4.734.73
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
161.2923.65
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Agent
Disbursing network coverage
Medium
Fee
119.3517.50
Exchange rate margin (%)
1.23
Percentage difference between market reference rate 49.47 and exchange rate charged 48.861.23
Total cost (%)
4.734.73
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
161.2923.65
Firm
WorldRemit
Firm type: Money Transfer Operator
 
Payment instrument
Access point
Internet
Sending network coverage
High
Transfer speed
Receiving method
Disbursing network coverage
Medium
Fee
119.3517.50
Exchange rate margin (%)
1.23
Percentage difference between market reference rate 49.47 and exchange rate charged 48.861.23
Total cost (%)
4.734.73
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
161.2923.65
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
137.0020.09
Exchange rate margin (%)
-0.27
Percentage difference between market reference rate 49.47 and exchange rate charged 49.60-0.27
Total cost (%)
3.753.75
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
127.8818.75
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
N/AN/A
Exchange rate margin (%)
N/A
not availableN/A
Total cost (%)
N/AN/A
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
N/AN/A
Total Average Third Quarter
9.489.48
Total Average Second Quarter
9.569.56
Total Average
Fee
248.3236.41
Exchange Rate Margin (%)
2.192.19
Total Cost Percent (%)
9.489.48
Total Cost (ZAR) Total Cost (USD)
323.1547.38
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
Least Costly Corridors To Malawi
Least Costly Corridors From South Africa
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