Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From TZTanzania you can also send money to

Sending money from TANZANIA to RWANDA

Data collected on: Oct 27, 2020
TZS | 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 (TZS)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
11,682.007.20
2.16
Percentage difference between market reference rate 0.42 and exchange rate charged 0.41
2.16
5.765.76
18,691.2011.52
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
6,490.004.00
4.84
Percentage difference between market reference rate 0.42 and exchange rate charged 0.40
4.84
6.846.84
22,195.8013.68
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
17,500.0010.79
4.15
Percentage difference between market reference rate 0.42 and exchange rate charged 0.40
4.15
9.549.54
30,957.3019.08
KCB Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
38,940.0024.00
16.82
Percentage difference between market reference rate 0.42 and exchange rate charged 0.35
16.82
28.8228.82
93,520.9057.64
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
126,555.0078.00
11.29
Percentage difference between market reference rate 0.42 and exchange rate charged 0.37
11.29
50.2950.29
163,191.05100.58
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.
Tigo
Firm type: Money Transfer Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
2,300.001.42
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.710.71
2,303.951.42
Total Average Fourth Quarter 2020
16.9916.99
Total Average Third Quarter 2020
15.9515.95
Total Average
Fee
33,911.1720.90
Exchange Rate Margin (%)
6.546.54
Total Cost Percent (%)
16.9916.99
Total Cost (TZS) Total Cost (USD)
55,143.3733.99
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
EcoBank Rapid Transfer
Firm type: Money Transfer Operator
Payment instrument
Access point
Bank branch, Internet
Sending network coverage
High
Receiving method
Bank branch
Medium
29,198.0018.00
2.16
Percentage difference between market reference rate 0.42 and exchange rate charged 0.41
2.16
5.775.77
46,794.7028.85
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
24,500.0015.10
4.84
Percentage difference between market reference rate 0.42 and exchange rate charged 0.40
4.84
7.867.86
63,744.6039.30
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
37,500.0023.12
4.15
Percentage difference between market reference rate 0.42 and exchange rate charged 0.40
4.15
8.788.78
71,205.8043.90
KCB Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
72,990.0045.00
16.82
Percentage difference between market reference rate 0.42 and exchange rate charged 0.35
16.82
25.8225.82
209,400.20129.10
NMB (National Microfinance Bank)
Firm type: Non-Bank FI
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
126,516.0078.00
11.29
Percentage difference between market reference rate 0.42 and exchange rate charged 0.37
11.29
26.8926.89
218,077.90134.45
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.
Tigo
Firm type: Money Transfer Operator
Payment instrument
Access point
Mobile phone
Sending network coverage
Medium
Receiving method
High
4,300.002.65
0.00
Percentage difference between market reference rate 1.00 and exchange rate charged 1.00
0.00
0.530.53
4,298.302.65
Total Average Fourth Quarter 2020
12.6112.61
Total Average Third Quarter 2020
11.4711.47
Total Average
Fee
49,167.3330.31
Exchange Rate Margin (%)
6.546.54
Total Cost Percent (%)
12.6112.61
Total Cost (TZS) Total Cost (USD)
102,253.5863.04
Non-Transparent records
Bank account transfer Mobile money Cash
Less than one hour Same day Next day
Bank account Cash Mobile wallet