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Transfer money

Sending money from SOUTH AFRICA to MALAWI

Data collected on: Oct 29, 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
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
211.8130.92
Exchange rate margin (%)
3.65
Percentage difference between market reference rate 0.07 and exchange rate charged 0.073.65
Total cost (%)
19.1119.11
Total cost (ZAR)Total cost (USD)
261.8138.22
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 (%)
8.69
Percentage difference between market reference rate 50.20 and exchange rate charged 45.848.69
Total cost (%)
34.2334.23
Total cost (ZAR)Total cost (USD)
468.9568.46
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 (%)
1.70
Percentage difference between market reference rate 50.20 and exchange rate charged 49.351.70
Total cost (%)
5.205.20
Total cost (ZAR)Total cost (USD)
71.2410.40
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 (%)
8.69
Percentage difference between market reference rate 50.20 and exchange rate charged 45.848.69
Total cost (%)
26.9426.94
Total cost (ZAR)Total cost (USD)
369.0853.88
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 (%)
1.70
Percentage difference between market reference rate 50.20 and exchange rate charged 49.351.70
Total cost (%)
5.205.20
Total cost (ZAR)Total cost (USD)
71.2410.40
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
41.106.00
Exchange rate margin (%)
0.74
Percentage difference between market reference rate 50.20 and exchange rate charged 49.830.74
Total cost (%)
3.743.74
Total cost (ZAR)Total cost (USD)
51.247.48
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 (%)
6.39
Percentage difference between market reference rate 50.20 and exchange rate charged 46.996.39
Total cost (%)
27.2027.20
Total cost (ZAR)Total cost (USD)
372.6454.40
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 (%)
-0.24
Percentage difference between market reference rate 50.20 and exchange rate charged 50.32-0.24
Total cost (%)
9.769.76
Total cost (ZAR)Total cost (USD)
133.7119.52
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
64.009.34
Exchange rate margin (%)
3.66
Percentage difference between market reference rate 50.20 and exchange rate charged 48.363.66
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
197.1928.79
Exchange rate margin (%)
3.90
Percentage difference between market reference rate 0.07 and exchange rate charged 0.073.90
Total cost (%)
18.2918.29
Total cost (ZAR)Total cost (USD)
250.5736.58
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 (%)
-0.30
Percentage difference between market reference rate 50.20 and exchange rate charged 50.35-0.30
Total cost (%)
9.709.70
Total cost (ZAR)Total cost (USD)
132.8919.40
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 (%)
5.30
Percentage difference between market reference rate 0.07 and exchange rate charged 0.065.30
Total cost (%)
26.4926.49
Total cost (ZAR)Total cost (USD)
362.9152.98
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 (%)
4.39
Percentage difference between market reference rate 50.20 and exchange rate charged 48.004.39
Total cost (%)
26.8726.87
Total cost (ZAR)Total cost (USD)
368.1253.74
Total Average Fourth Quarter 2019
17.0017.00
Total Average Third Quarter 2019
14.4714.47
Total Average
Fee
182.0926.58
Exchange Rate Margin (%)
3.713.71
Total Cost Percent (%)
17.0017.00
Total Cost (ZAR) Total Cost (USD)
232.9634.01
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
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 (%)
8.69
Percentage difference between market reference rate 50.20 and exchange rate charged 45.848.69
Total cost (%)
18.9518.95
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
646.2094.75
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 (%)
8.69
Percentage difference between market reference rate 50.20 and exchange rate charged 45.848.69
Total cost (%)
16.0216.02
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
546.2880.10
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 (%)
6.39
Percentage difference between market reference rate 50.20 and exchange rate charged 46.996.39
Total cost (%)
14.7514.75
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
502.9873.75
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
378.2355.46
Exchange rate margin (%)
3.65
Percentage difference between market reference rate 0.07 and exchange rate charged 0.073.65
Total cost (%)
14.7414.74
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
502.6373.70
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
364.0453.38
Exchange rate margin (%)
3.90
Percentage difference between market reference rate 0.07 and exchange rate charged 0.073.90
Total cost (%)
14.5814.58
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
497.1872.90
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 (%)
5.30
Percentage difference between market reference rate 0.07 and exchange rate charged 0.065.30
Total cost (%)
13.8213.82
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
471.2669.10
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 (%)
4.39
Percentage difference between market reference rate 50.20 and exchange rate charged 48.004.39
Total cost (%)
13.4213.42
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
457.6267.10
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 (%)
-0.30
Percentage difference between market reference rate 50.20 and exchange rate charged 50.35-0.30
Total cost (%)
9.709.70
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
330.7748.50
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
64.009.38
Exchange rate margin (%)
3.66
Percentage difference between market reference rate 50.20 and exchange rate charged 48.363.66
Total cost (%)
5.545.54
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
188.9127.70
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 (%)
1.70
Percentage difference between market reference rate 50.20 and exchange rate charged 49.351.70
Total cost (%)
5.205.20
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
177.3226.00
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 (%)
1.70
Percentage difference between market reference rate 50.20 and exchange rate charged 49.351.70
Total cost (%)
5.205.20
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
177.3226.00
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
137.0020.09
Exchange rate margin (%)
-0.24
Percentage difference between market reference rate 50.20 and exchange rate charged 50.32-0.24
Total cost (%)
3.783.78
Total cost (ZAR)sort ascendingTotal cost (USD)sort ascending
128.9018.90
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 Fourth Quarter 2019
11.3111.31
Total Average Third Quarter 2019
9.489.48
Total Average
Fee
250.5136.73
Exchange Rate Margin (%)
3.963.96
Total Cost Percent (%)
11.3111.31
Total Cost (ZAR) Total Cost (USD)
385.6156.54
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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