Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From ZASouth Africa you can also send money to

Sending money from SOUTH AFRICA to ZIMBABWE

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 (%)sort descending
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.
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
5.990.87
2.56
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.56
2.992.99
40.965.98
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Bank branch
Medium
40.965.98
1.60
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.60
4.594.59
62.889.18
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Low
28.754.20
3.44
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
3.44
5.545.54
75.9011.08
EcoCash Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
Medium
Receiving method
High
23.633.45
4.03
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
4.03
5.765.76
78.9111.52
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
47.957.00
2.56
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.56
6.066.06
83.0212.12
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
High
66.009.64
2.16
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.16
6.986.98
95.6313.96
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
Medium
94.3313.77
1.00
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.00
7.897.89
108.0915.78
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
68.5010.00
4.39
Percentage difference between market reference rate 0.07 and exchange rate charged 0.06
4.39
9.399.39
128.6418.78
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center, Internet
Sending network coverage
High
Receiving method
Agent
High
120.0017.52
0.98
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
0.98
9.739.73
133.3019.46
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
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
280.0040.88
1.18
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.18
21.6121.61
296.0643.22
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
1.62
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.62
23.1523.15
317.1646.30
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
307.5744.90
0.94
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
0.94
23.3923.39
320.4446.78
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
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
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
1.62
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.62
28.9928.99
397.1657.98
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
410.0059.85
1.18
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.18
31.1031.10
426.0762.20
Total Average First Quarter
14.1014.10
Total Average Fourth Quarter 2020
13.6713.67
Total Average
Fee
163.7223.90
Exchange Rate Margin (%)
2.152.15
Total Cost Percent (%)
14.1014.10
Total Cost (ZAR) Total Cost (USD)
193.2128.21
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
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
Agent
High
5.990.88
2.56
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.56
2.732.73
93.0913.65
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
Sikhona Money Transfers
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
Low
28.754.22
3.44
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
3.44
4.284.28
145.9521.40
EcoCash Remit
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
Medium
Receiving method
High
58.828.62
4.03
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
4.03
5.765.76
196.4228.80
WorldRemit
Firm type: Money Transfer Operator
Payment instrument
Access point
Internet
Sending network coverage
High
Receiving method
High
119.3517.50
2.56
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.56
6.066.06
206.6530.30
Mama Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
High
163.0023.90
2.17
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
2.17
6.956.95
237.0034.75
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center
Sending network coverage
High
Receiving method
Agent
Medium
188.6727.66
1.00
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.00
6.546.54
223.0132.70
Hello-Paisa
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Internet
Sending network coverage
High
Receiving method
Agent
High
170.5025.00
4.39
Percentage difference between market reference rate 0.07 and exchange rate charged 0.06
4.39
9.399.39
320.2046.95
Mukuru
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent, Call Center, Internet
Sending network coverage
High
Receiving method
Agent
High
314.0046.04
0.98
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
0.98
10.1810.18
347.1450.90
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
ABSA
Firm type: Bank
Payment instrument
Access point
Internet
Sending network coverage
Medium
Receiving method
High
280.0041.06
1.18
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.18
9.399.39
320.2046.95
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
1.62
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.62
10.2710.27
350.2151.35
Standard Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
307.5745.10
0.94
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
0.94
9.969.96
339.6449.80
Nedbank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
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
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
1.62
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.62
12.6212.62
430.3463.10
ABSA
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Medium
Receiving method
High
410.0060.12
1.18
Percentage difference between market reference rate 0.07 and exchange rate charged 0.07
1.18
13.2013.20
450.1266.00
Total Average First Quarter
8.548.54
Total Average Fourth Quarter 2020
8.518.51
Total Average
Fee
216.5631.75
Exchange Rate Margin (%)
2.192.19
Total Cost Percent (%)
8.548.54
Total Cost (ZAR) Total Cost (USD)
291.3142.71
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