Remittance Prices Worldwide

MAKING MARKETS MORE TRANSPARENT

From TZTanzania you can also send money to

Sending money from TANZANIA to UGANDA

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.
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
6,490.004.00
2.64
Percentage difference between market reference rate 1.61 and exchange rate charged 1.56
2.64
4.644.64
15,056.809.28
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
2.88
Percentage difference between market reference rate 1.61 and exchange rate charged 1.56
2.88
6.486.48
21,027.6012.96
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
17,500.0010.79
2.38
Percentage difference between market reference rate 1.61 and exchange rate charged 1.57
2.38
7.777.77
25,213.6515.54
KCB Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
38,940.0024.00
13.54
Percentage difference between market reference rate 1.61 and exchange rate charged 1.39
13.54
25.5425.54
82,877.3051.08
Stanbic Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
95,727.5059.00
4.23
Percentage difference between market reference rate 1.61 and exchange rate charged 1.54
4.23
33.7333.73
109,453.8567.46
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
2.72
Percentage difference between market reference rate 1.61 and exchange rate charged 1.56
2.72
41.7241.72
135,381.4083.44
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
4.22
Percentage difference between market reference rate 1.61 and exchange rate charged 1.54
4.22
46.2246.22
149,983.9092.44
Total Average Fourth Quarter 2020
23.7323.73
Total Average Third Quarter 2020
23.7123.71
Total Average
Fee
61,883.5038.14
Exchange Rate Margin (%)
4.664.66
Total Cost Percent (%)
23.7323.73
Total Cost (TZS) Total Cost (USD)
76,999.2147.46
Non-Transparent records
Bank account transfer Cash
Less than one hour Same day Next day
Bank account Cash
Payment instrument
Access point
Sending network coverage
Receiving method
Western Union
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
24,500.0015.10
2.64
Percentage difference between market reference rate 1.61 and exchange rate charged 1.56
2.64
5.665.66
45,902.6028.30
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
2.88
Percentage difference between market reference rate 1.61 and exchange rate charged 1.56
2.88
6.486.48
52,552.8032.40
MoneyGram
Firm type: Money Transfer Operator
Payment instrument
Access point
Agent
Sending network coverage
High
Receiving method
Agent
High
37,500.0023.12
2.38
Percentage difference between market reference rate 1.61 and exchange rate charged 1.57
2.38
7.007.00
56,770.0035.00
Stanbic Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
95,698.0059.00
4.23
Percentage difference between market reference rate 1.61 and exchange rate charged 1.54
4.23
16.0316.03
130,003.3080.15
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
2.72
Percentage difference between market reference rate 1.61 and exchange rate charged 1.56
2.72
18.3218.32
148,575.2091.60
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
4.22
Percentage difference between market reference rate 1.61 and exchange rate charged 1.54
4.22
21.0221.02
170,472.20105.10
KCB Bank
Firm type: Bank
Payment instrument
Access point
Bank branch, Call Center
Sending network coverage
Low
Receiving method
High
72,990.0045.00
13.54
Percentage difference between market reference rate 1.61 and exchange rate charged 1.39
13.54
22.5422.54
182,799.40112.70
Total Average Fourth Quarter 2020
13.8613.86
Total Average Third Quarter 2020
14.1814.18
Total Average
Fee
74,664.2946.03
Exchange Rate Margin (%)
4.664.66
Total Cost Percent (%)
13.8613.86
Total Cost (TZS) Total Cost (USD)
112,439.3669.32
Non-Transparent records
Bank account transfer Cash
Less than one hour Same day Next day
Bank account Cash
Least Costly Corridors To Uganda
Least Costly Corridors From Tanzania