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

Pay attention to XAF exchange rates, as it determines how much XAF your recipient will receive.

For instance, today’s average USD to XAF rate is 559.8814 but the highest rate over the past 7 days was 564.1015 XAF/USD.

Your aim is to transfer when XAF reaches a higher value so waiting a few days could result in a better rate, hence more XAF received.

For urgent CFA Franc BEAC transfers, we recommend Remitly. It consistently provides the best XAF rates.

How you fund your transfer affects the cost, speed, and the amount of CFA Franc BEAC the recipient will receive.

The cheapest way to fund your transfer to Gabon is with a bank transfer via Remitly, which is 3.01% cheaper than the next cheapest service.

Based on our analysis of a $7,000 transfer from to Gabon, here are the top options:

• Remitly (bank transfer): Costs $2.99 + -2.56% markup on top of the XAF mid-market rate.

• Remitly (debit card): Costs $2.99 + -2.56% markup.

bank transfer is the most expensive deposit method for CFA Franc BEAC transfers, so we recommend avoiding it to maximize the amount of XAF received.

Credit card transfers may result in cash advance fees and higher interest rates when sending money to Gabon.

Avoid sending XAF over the SWIFT network, as it's slower and more expensive. Instead, consider cheaper options like ACH or account balance for XAF transfers.

Money transfer companies often have minimum and maximum limits on how much XAF you can transfer.

The amount of XAF you send can impact the fees and exchange rate. Some services such as Wise may offer a better exchange rate for large XAF transfers.

There may also be government-imposed restrictions, commercial limitations, and other factors that may affect how much XAF you can send.

To ensure your money transfer to Gabon goes smoothly, especially if moving large amounts of CFA Franc BEAC, use our comparison tool to find the service that best fits your needs.

The speed of sending CFA Franc BEAC to Gabon depends on factors like the amount of XAF sent, the chosen deposit and withdrawal methods, and when you send XAF.

As a rule of thumb, faster transfers come with higher fees.

Let’s imagine you want to transfer $7,000 to Gabon, here are your options:

• For the fastest transfers, use Xoom - Out of 5 companies serving Gabon.

• For bank and card deposits, use Xoom - Xoom provides fast and affordable XAF transfers, with fees around $0 for bank account deposits and $2.99 for debit/prepaid card deposits, with a small 2.3% markup on the ‘real’ XAF exchange rate.

• For credit card transfers, beware of potential cash advance fees and higher interest rates from your credit card company.

• For urgent transfers, use cash transfer services - If you need CFA Franc BEAC to be delivered urgently, services like Western Union, MoneyGram, or Ria Money will have it ready within minutes for collection in Gabon.

Avoid using the SWIFT network for XAF transfers, as intermediary banks slow the process. Instead, opt for faster and more cost-effective alternatives discussed above.

For XAF transfers, you have the following options:

1. Money transfer company - You can transfer money online using an FX broker (managed service) or a self-managed online company like Wise. Based on our analysis, Wise ranked as the top provider for sending money to Gabon, appearing in 1 comparisons involving XAF.

2. Mobile apps and digital wallets - Many services available in Gabon offer mobile apps, often giving transfer offers on XAF rates.

3. Cash transfers - You can send cash to Gabon through services like Ria Money, MoneyGram, or Western Union. Cash transfers are typically instant, but the recipient must visit a local agent in Gabon to collect the CFA Franc BEAC.

4. Wire transfers - While you can wire money to Gabon through your bank, we suggest against it. Banks can charge up to $60 per transfer to Gabon and add 5% - 6% to the XAF exchange rate. Instead, use bank transfer to deposit money to Wise and send XAF from there.

There are several ways to receive money in Gabon, and choosing the right one will help the recipient get the most XAF. Mainly, these are:

• Deposit to bank account - For direct bank deposits in Gabon, we recommend Remitly. XAF will arrive directly to the recipient's bank account in Gabon.

• Deposit to digital or mobile wallet - XAF can be sent directly to digital wallets like PayPal, though this option often has more limitations and higher costs compared to services like Remitly. Recipients in Gabon will need to transfer it to their account, which may incur more fees.

• Cash pickup or home delivery - If the recipient needs XAF urgently or doesn't have access to a bank account in Gabon, cash pickup or door-to-door delivery is a good alternative. Be sure to check if these services are available in Gabon. This will require the recipient to visit a nearby agent in Gabon.

When making large XAF transfers or sending CFA Franc BEAC for cash pickup, the recipient may need the following:

• Government-Issued ID: This can be a non-expired and valid passport, driver’s license, or national ID of Gabon.

• Sender’s Details: Full name, address, and other personal information.

• Transfer Details: The amount being received in XAF.

• Transfer number: This is given at the time of transfer.

• SWIFT Code / IBAN: This may be required for bank transfers to Gabon from some countries.

*The exact documents may vary depending on the transfer method and service used.

For bank accounts, debit cards, or wallet deposits, the recipient typically doesn’t need to do anything. CFA Franc BEAC will arrive without their involvement.

For larger transfers, companies may request additional documents like proof of funds and address verification in compliance with Anti-Money Laundering policies.

We recommend using Wise for transferring large amounts of CFA Franc BEAC.

There may be tax implications and government-imposed limits on CFA Franc BEAC transfers.

Some CFA Franc BEAC transfers may be subject to gift tax, commercial tax, and other types of taxes.

Even if no immediate taxes or limits apply, larger XAF transfers may need to be reported to tax authorities in Gabon or your home country.

To be fully safe, we strongly recommend consulting with a tax professional in either Gabon or your home country to ensure compliance with relevant regulations and tax laws.