Find the cheapest way to send money to Africa. Compare fees, rates, and delivery times across 10+ providers.
The African diaspora sends over $90 billion in remittances annually, making it one of the largest financial flows to the continent. Yet transfer costs remain stubbornly high — averaging 8-9% for sub-Saharan Africa, nearly double the global average. Choosing the right provider can save you hundreds of dollars per year.
Remittance providers make money in two ways: explicit fees and exchange rate margins. A provider advertising "zero fees" may offer a poor exchange rate that costs you more than a provider with a flat fee but a better rate. This tool calculates the total cost (fee + exchange rate margin) so you can make a true comparison.
The cheapest option depends on your specific corridor. Mobile money transfers to Kenya and Tanzania are often cheapest through M-Pesa-integrated providers. Bank-to-bank transfers to Nigeria may be cheaper through fintech providers like Wise or Lemfi. Cash pickup services through Western Union or MoneyGram remain important in countries with lower banking penetration.
Instant transfers typically cost more than those that take 1-3 business days. If your recipient can wait, choosing a slower option can save 2-5% on the total cost. For urgent needs, mobile money and cash pickup are fastest. Bank transfers to African banks can take 1-5 business days depending on the corridor.
Rates shown are representative estimates based on recent market data. Actual rates change throughout the day. Always confirm the exact rate on the provider's website or app before completing your transfer.
It depends on the corridor, amount, and delivery method. For small amounts ($50-200), mobile money apps are often cheapest. For larger amounts ($500+), bank transfer services like Wise tend to offer better value. Cash pickup services (Western Union, MoneyGram) are generally most expensive but offer the widest coverage.
Yes, each provider has different limits. Regulated providers typically allow $2,500-10,000 per transaction and $50,000+ per year for verified accounts. Nigerian recipients face CBN limits on dollar-denominated inflows. Always check both sender and recipient country limits.