Remittance Prices Worldwide

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Sending money from TANZANIA to KENYA

Data collected on: Oct 30, 2019
TZS | USD
Payment instrument
Access point
Sending network coverage
Receiving method
Xpress Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
Medium
Receiving method
Agent
High
6,000.003.70
1.38
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
1.38
3.233.23
10,481.356.46
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Bank branch
High
11,682.007.20
1.20
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
1.20
4.804.80
15,576.009.60
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
14,388.008.87
1.27
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
1.27
5.705.70
18,496.5011.40
M-Pesa
Firm type: Money Transfer Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
8,500.005.24
4.81
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
4.81
7.437.43
24,110.3514.86
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
17,405.0010.73
2.47
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
2.47
7.847.84
25,440.8015.68
National Bank of Commerce Ltd (NBC)
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
136,290.0084.00
8.49
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
8.49
50.4950.49
163,840.05100.98
This RSP's fees are quoted only in USD.  · This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
Kenya Commercial Bank (KCB)
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
High
Receiving method
Agent
High
38,940.0024.00
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
12.0012.00
38,940.0024.00
This RSP's fees are quoted only in USD.  · This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
Stanbic Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
95,727.5059.00
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
29.5029.50
95,727.5059.00
Total Average Fourth Quarter 2019
15.1215.12
Total Average Third Quarter 2019
13.7813.78
Total Average
Fee
41,116.5625.34
Exchange Rate Margin (%)
2.452.45
Total Cost Percent (%)
15.1215.12
Total Cost (TZS) Total Cost (USD)
49,076.5730.25
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day Next day
Bank account Cash Mobile wallet
Payment instrument
Access point
Sending network coverage
Receiving method
Xpress Money
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
Medium
Receiving method
Agent
High
16,000.009.86
1.38
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
1.38
3.353.35
27,168.5016.75
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Bank branch
High
29,196.0018.00
1.20
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
1.20
4.804.80
38,928.0024.00
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
22,270.0013.73
2.47
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
2.47
5.225.22
42,334.2026.10
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
35,959.0022.17
1.27
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
1.27
5.705.70
46,227.0028.50
M-Pesa
Firm type: Money Transfer Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
11,500.007.09
4.81
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
4.81
6.236.23
50,525.3031.15
National Bank of Commerce Ltd (NBC)
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
136,248.0084.00
8.49
Percentage difference between market reference rate 0.04 and exchange rate charged 0.04
8.49
25.2925.29
205,101.90126.45
This RSP's fees are quoted only in USD.  · This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
Kenya Commercial Bank (KCB)
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
High
Receiving method
Agent
High
76,234.0047.00
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
9.409.40
76,234.0047.00
This RSP's fees are quoted only in USD.  · This RSP is not transparent: the exchange rate applied to the transaction was not disclosed. The 0% in the exchange rate margin does NOT necessarily mean that there is no exchange rate cost, but rather that this cost is not disclosed to the sender at the time of sending.
Stanbic Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
95,698.0059.00
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
11.8011.80
95,698.0059.00
Total Average Fourth Quarter 2019
8.978.97
Total Average Third Quarter 2019
7.167.16
Total Average
Fee
52,888.1332.61
Exchange Rate Margin (%)
2.452.45
Total Cost Percent (%)
8.978.97
Total Cost (TZS) Total Cost (USD)
72,777.1144.87
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day Next day
Bank account Cash Mobile wallet