The best, fastest & cheapest ways to send money to Yemen

The exchange rate determines how much YER the recipient will receive.

For instance, in the past 7 days average exchange rate between the US Dollar and the Yemeni Rial was 242.3644 YER.

Since USD - YER exchange rates fluctuate based on market conditions, waiting a few days can result in a better rate and more YER for your recipient.

If you urgently need the money in Yemen, we recommend using Wise, which offers the best YER exchange rates.

The cheapest way to fund your transfer to Yemen is by using a bank transfer with Wise, which is 8.05% cheaper than the next best option.

How you pay for your transfer impacts the cost, speed, and the amount of YER received.

Based on a $7,000 transfer to Yemen using our live data, the options you have are:

• A bank transfer with Wise will cost you $60.74 in fees and a 0.01% markup

• Debit card transfer with costs $ with % markup

We recommend not using bank transfer when sending money to Yemen, as they tend to be the most expensive.

Credit card transfers tend to add cash advance fees and might have higher interest rates on YER.

Whenever possible, avoid sending YER over the SWIFT network. Despite the name, YER transfers over SWIFT are slower and come with higher fees.

Money transfer companies will often have minimum and maximum limits on how much YER you can send.

Often, the amount will also impact the fees and the YER rate you get.

For example, we found Wise to be the best option for sending large amounts to Yemen.

There might also be government-imposed restrictions, commercial restrictions, and many more.

This is why it’s important to compare your transfer options to Yemen.

The speed of transferring YER to Yemen depends on several factors, including the amount being sent, the timing of the transfer, and the chosen payment method.

Usually, the quicker you need your YER, the more it will cost you in fees.

For example, consider a transfer of $7,000 from the US to Yemen:

• Fastest provider: Among 2 companies servicing Yemen, MoneyGram consistently offers the quickest delivery times across all deposit methods.

• Bank or debit card deposits: Services like MoneyGram for bank account deposits and for card deposits provide almost instant and cost-effective YER transfers. Fees are approximately $490.00000000000006 for bank deposits and $ for debit card deposits, with a minimal % markup.

• Credit card deposits are another option, but be mindful of potential cash advance fees.

• Urgent transfers: For the fastest possible transfers, we recommend opting for cash pickup services through providers like Western Union or Ria Money.

Avoid making YER transfers over SWIFT

SWIFT is slower for YER transfers due to the involvement of intermediary banks in Yemen, so it’s best to avoid it if speed is your priority.

For YER transfers, you have the following options:

Money transfer companies

You can send Yemeni Rial via an FX broker (a managed service) or via an online-only company (self-managed).

According to our analysis, we found that Wise is the overall best way to transfer money to Yemen.

App

Most money transfer services to Yemen offer mobile apps, which often provide better YER exchange rates.

You can check our guide on the best money transfer apps to find one that fits your needs.

In-person

Cash transfers to Yemen can be made in person through services like Ria Money Transfers or Western Union.

Cash transfers are almost always instant but require the recipient to physically visit the nearest agent to collect YER.

Bank transfers

We advise you not to use your bank to wire money to YE because of the fees but rather use it to fund your YER transfer.

There are several ways to receive money in Yemen, including direct bank deposits, cash pickups, home deliveries, and mobile wallets.

Here are your options:

• Direct bank deposits: to deposit money into the recipient's account in Yemen, we recommend using Wise.

• Cash pickup: if you need immediate access to cash in Yemen, consider using cash pickup, but check availability.

• Mobile wallets: you can receive YER directly into your digital wallet like PayPal, but they come with limitations and higher costs compared to using Wise.

In most cases, YER will arrive without any involvement from the recipient.

However, if you’re sending Yemeni Rial as cash, or in large amounts, the receiver might need the following*:

• Valid forms of ID: such as passport, or driver’s license.

• Sender's information: the full name and address.

• Transfer details: the amount of YER to be received.

• Transfer confirmation number: the sender should give it to the recipient.

• SWIFT code / IBAN: sometimes you may need to include IBAN and/or the SWIFT code.

*The exact documents you need might vary by the company you use.

For larger Yemeni Rial transfers, money transfer companies may ask for a source of funds and proof of address. This is done in accordance with AML policies.

If you’re making a large transfer to Yemen, we recommend using Wise.

There might be tax implications and government-imposed limits when sending Yemeni Rial to Yemen.

Some YER transfers may be subject to various taxes, including gift tax and commercial tax.

Even if there are no limits or taxation involved, certain YER transfers need to be reported to the tax authorities in Yemen.

When in doubt, please contact a tax professional in Yemen or in your country.