Compare the best ways to send money to Ivory Coast

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

For instance, in the past month average exchange rate between the US Dollar and the CFA Franc BCEAO was 623.3617 XOF.

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

If you urgently need the money in Ivory Coast, we recommend using Revolut, which has offered the best XOF exchange rates over the last 6 months.

The cheapest way to fund your transfer to Ivory Coast is by using a Bank transfer with Revolut, which is 1% cheaper than the next best option.

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

Based on a $2,000 transfer to Ivory Coast using the last 6-months of our data, the options you have are:

• A bank transfer with Revolut will cost you $0 in fees and a 0.16% markup

• Debit card transfer with costs $0 with % markup

• Credit card transfers with costs $0 fee and comes with % markup

We recommend not using Bank transfer when sending money to Ivory Coast, as they tend to be the most expensive.

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

For example, charges $0 when paying by credit card, compared to $0 via a bank transfer with Revolut.

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

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

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

For example, we found OFX to be the best option for sending large amounts to Ivory Coast.

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

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

The speed of transferring XOF to Ivory Coast 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 XOF, the more it will cost you in fees.

For example, consider a transfer of $2,000 from the US to Ivory Coast:

• Fastest provider: Among 10 companies servicing Ivory Coast, Ria Money Transfer consistently offers the quickest delivery times across all deposit methods, appearing in 50% of our searches.

• Bank or debit card deposits: Services like Ria Money Transfer for bank account deposits and for card deposits provide almost instant and cost-effective XOF transfers. Fees are approximately $4 for bank deposits and $ for debit card deposits, with a minimal % markup.

• Credit card transfers: Based on six months of our data, using for sending XOF via CC can take up to a day and incur a fee of $0 with % markup. However, 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 XOF transfers over SWIFT

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

For XOF transfers, you have the following options:

Money transfer companies

You can send CFA Franc BCEAO via an FX broker (a managed service) or via an online-only company (self-managed).

According to the past six-month analysis, we found that OFX is the overall best way to transfer money to Ivory Coast, appearing 63% of the time for XOF transfers in our search system.

App

Most money transfer services to Ivory Coast offer mobile apps, which often provide better XOF 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 Ivory Coast 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 XOF.

Bank transfers

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

There are several ways to receive money in Ivory Coast, 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 Ivory Coast, we recommend using Revolut. They appeared in 80.8% of the searches as the cheapest option for bank transfers to Ivory Coast.

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

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

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

However, if you’re sending CFA Franc BCEAO 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 XOF 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 CFA Franc BCEAO 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 Ivory Coast, we recommend using OFX.

There might be tax implications and government-imposed limits when sending CFA Franc BCEAO to Ivory Coast.

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

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

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