Send Money To Jamaica

Most Jamaicans in the diaspora are in the United Kingdom, the United States, and Canada. Over 90 per cent of the 2017 and 2018 remittances to the Latin American Country came from the three countries. According to the Pew Research Centre, Jamaica received a total of US $2,522 million in 2017 alone. The money sent to Jamaica plays an important role both at the national and household levels.

The Bank of Jamaica has increased its monitoring of inflows and regulation of the ways through which money gets into the country. Therefore, it helps to know the different ways you can send money to Jamaica, what is required to send the money, how your loved ones will access it, the needs to prioritise, and the factors to consider. The sections below will give you that and more.

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United States
United States
Amount Received 128,847.25 JMD
Fees: 9 USD
Rate: 130.0174*
Payment Options Speed
Bank Transfer 3-5 Days
Debit Card 3-5 Days
Key Features
  • Internationally renowned bank
Visit Site
Amount Received 128,021.47 JMD
Fees: 10 USD
Rate: 129.3146*
Payment Options Speed
Bank Transfer 3-5 Days
Debit Card 3-5 Days
Key Features
  • Internationally renowned bank
Visit Site
Current Mid-Market Rate:   1 USD = 140.5594 JMD
* Some rates may be indicative.

How To Send Money To Jamaica

Sending money to Jamaica is simple and easy. Follow these steps to get started.

Find a Trusted Provider

Use our comparison table to find the best provider for your needs.

Sign Up and Deposit

Sign up with the provider and deposit the amount you want to transfer.

Transfer Money

As soon as you're ready, you can start sending money online.

Ways To Send And Receive Money In Jamaica

There are multiple ways to easily send and receive money in Jamaica but these will largely depend on the provider you decide to use. Below you will find everything you need to know about sending and receiving money.

    Ways to Send Money to Jamaica

    According to a survey done on remittances in Jamaica, 64 per cent of the respondents said that senders determine the transfer method to use. There are several ways you can send money to Jamaica depending on your preference and convenience.

    Inter-Bank Wire Transfers

    Jamaica is a member of the Society for Worldwide Interbank Financial Telecommunication (SWIFT). Therefore, Jamaicans in the diaspora can send money to their loved ones through interbank wire transfers in United States dollar (USD), Canadian dollar (CAD), Sterling pound (GBP) or in Euro (EUR).

    The Bank Identifier Code (BIC) or Swift Code to use will vary depending on the beneficiary bank you are sending. For instance, when sending money to JN Bank, the code to use is JNBSJMKN. When you are transferring to the National Commercial Bank Jamaica, the BIC is JNCBJMKX.

    The fees for incoming transfers are charged based on the currency. On average, CAD and USD transfers cost about $5 while transfers in EUR are much lower. These rates are applicable for transfers totalling $100 and beyond.

    When transferring via Automated Clearing House (ACH), the maximum you can send per transaction is $ 7,300. This measure was put in place by the Bank of Jamaica, effective May 2, 2016. Initially, the maximum value per transaction was $14,700.

    International money transfers to Jamaica can take up to 5 days to complete. The duration largely depends on the number of checks to be done and the intermediary banks involved.

    Money Transfer Services

    While banks have served their role well in the different remittance corridors, money transfer service providers are gradually taking over. These providers are offering much faster and more convenient ways to send money to Jamaica.

    The transfer service providers vary based on the transfer corridors. Providers such as Xoom, Ria, MoneyGram, Western Union, WorldRemit, Tranferwise and Transfast are available on almost all transfer corridors and help you send money to Jamaica in minutes.

    The advantage of money transfer service providers is that they have outlets in places convenient for sending. Setting up is also much easier. All you need to do is to sign up for an account, pay for your transfer using a debit card, a credit card, bank transfer or direct bank debit and send.

    You can make your transfers on the website, through downloadable mobile apps, or through send bots for providers like MoneyGram. Money transfer service providers give you a variety of ways through which you can send money to Jamaica.

    • Bank Transfers- These transfers are similar to traditional interbank transfers. The main difference is that they take place on the providers' platforms. Providers such as WorldRemit take three days to send your money.
    • Cash PickUp – Money transfer operators (MTOs) allow you to send money through the cash pickup route. This path is convenient and faster for sending little amounts of money that your recipients can easily collect from pick up locations. Most providers have partnered with JMMB Money Transfer and Victoria Mutual payout networks in Jamaica to expand their locations.

    International Money Orders

    Jamaica is among the 30 participating countries to which you can send money through an international money order. If you are in the United States, you can walk into any post office and ask the cashier for an international money order. It costs about $3.85 per order. The maximum you can send in a single money order is $700.

    What’s Needed to Send Money to Jamaica

    When sending money to Jamaica, you’ll need to provide some information as requested by the MTOs. The information may vary from one provider to another, though such variations are minimal. The following is a general list of what is required when sending money to Jamaica.

    • Your state or government-issued identity document
    • The amount of money you want to send
    • The name of the recipient as it appears on their official documents
    • The phone number and address of the recipient
    • If you are doing a SWIFT or ACH transfer, you’ll have to provide the BIC or SWIFT code of the recipient bank, the bank name, branch, and account number.

    The Jamaican government has been very keen on issues of money laundering and terrorism financing. To ensure successful remittance, some providers may ask for more information on a case by case basis.

    What Are the Ways of Receiving Money in Jamaica?

    When their loved ones send money from abroad, recipients in Jamaica can access the funds in two main ways: bank deposit or cash collection. Unlike other least developed countries, mobile money has not taken root in Jamaica.

    Bank Deposits

    When you send money through SWIFT, ACH or MTO-to-bank transfer, your loved can access this money in the form of bank deposits. As long as the bank details you’ve used are correct, the transfer will be deposited in 3 to 5 days.

    While this method is safer and more convenient, especially for receiving large amounts of money, it is not very popular. Close to 70 per cent of the Jamaican population is either unbanked or underbanked. Their access to traditional financial services is not as elaborate and not everyone has a bank account. Many Jamaicans in rural areas prefer cash collections.

    Cash Collections

    When you send money through the cash pickup option, your target beneficiary can collect it from any of the designated payout locations. For instance, Xoom has 287 locations in Jamaica where the recipient can collect their money.

    Cash collections are convenient because of their proximity to where people live. Some of the collection points are in fuel stations and supermarkets. The biggest threat to this mode of cash receipt is security. When picking the money, you should get a family member, relative or friend to accompany you.

    What is Required to Receive Money in Jamaica?

    When the money arrives in Jamaica, the provider will send you a notification through SMS or email. This will depend on the notification method you selected when sending. The following information will be required when collecting the money:

    • The recipient's government-issued I.D. The name on the I.D. must correspond to the name you gave when sending the money
    • The transaction reference number. As evidence to prove that you’ve sent money, the provider will give you a reference number. Send this number to the recipient as they will need it when collecting the money.
    • The recipient may be asked to identify the sender and the amount they expect to receive.

    Your loved one should be prepared for additional disclosures depending on the provider and the size of the transaction.

    Common Reasons For Sending Money to Jamaica

    A remittance survey done in 2010 in Jamaica, concentrated on several areas amongst them the usage of the money received. They separated frequent receivers from those who receive money at random. The money received is used in a variety of areas.

    Basic Consumption

    More than 30 per cent of the money received is used to pay for utilities (19 per cent) and food (18 per cent). The cost of living in Jamaica is relatively lower than in most places in the world.  However, with less than expected improvements in poverty rates, many Jamaicans still depend on remittances to supplement their household incomes.


    According to statistics obtained from the Bank of Jamaica over 14 per cent of remittances go toward education. Typical expenses include tuition, school supplies, and everyday needs.

    Housing & Construction

     This expenditure item takes up 10 per cent. It includes new builds and renovations of existing homes. The cost of real estate in areas such as Kingston can gobble up a large percentage of this money.

    Medical Expenses

    The survey report showed that 7 per cent of the money received is used to pay for medical treatments. The public healthcare system in Jamaica is not as effective as the private health care system. Though pricey, most people go to private care institutions.

    Investment Expenditure

    Households in Jamaica invest about 6 per cent of the remittances. Typical investments include financial instruments and real estate. Some of them use the money received as startup capital for their businesses.


    The portion most households allocate to savings is approximately 9 per cent. In case of emergencies, most households use savings to supplement their existing resources.

    Families in Jamaica allocate remittances starting from basic needs going up the pyramid. Savings are often low in families that barely receive enough to cover their housing, education, and utilities.

    Why Send Money With a Money Transfer Service?

    Whatever your reason for sending money home, money transfer service operators will help you send money fast, conveniently, and cost-effectively. Many Jamaicans in the diaspora are moving to money transfer services to capitalise on the following benefits.

    Favourable Exchange Rates

    Money transfer service providers use the mid-market exchange rate when translating the source currency to the Jamaican dollar (JMD). This rate falls midway between the buy rate and the sell rate for the pair of currencies you are exchanging which gives you more Jamaican dollars for a single unit of the source currency.

    Low Transaction Fees

    MTOs handle thousands of transactions for people sending money to different countries. This transaction volume enables the providers to lower their margin per transaction and still make good returns. The ultimate beneficiaries are people like you sending money to your family and friends in Jamaica.

    The transaction fees vary depending on how you pay for the transfer and how the recipient gets the money. Payment via credit card is the most expensive while payment via bank transfers is the cheapest. Also, cash pickups attract more fees than direct deposits into the recipient’s account.

    Speed of Transfer

    Depending on the method of transfer you choose, you can send money to your loved ones within a few minutes or days. For instance, if you choose cash pickup, providers such as WorldRemit, Western Union, MoneyGram, and TransferWise can send in less than an hour.

    The method you use to pay for your transfer will also determine the transfer speed. If you pay using a credit card, the recipient will get the money faster compared to bank transfers.

    Ease of Access

    Money transfer services use pickup locations that are closer to recipients. Unlike banks that operate from major towns and centres, MTOs have their agent network spread out in residential areas, fuel stations, supermarkets and other convenient locations. Such an extensive network ensures your loved ones can access the money you send conveniently.

    Multi-Currency Support

    When sending to Jamaica via interbank transfer, there are some currencies that may not be supported. However, through money transfer services, virtually every currency is supported.

    Western Union and MoneyGram operate in more than 200 countries and territories. Xoom is present in over 140 countries. This geographical spread makes it easy for these providers to bring on board all currencies including the less traded.

    Quick to Setup

    Setting up a transfer is very fast. You can sign up on the website or through a mobile application. The information you’ll need to provide for this is minimal, just your name, location, phone number, and email address.

    Once you register, you can pay for your transfer through debit card, credit card, or bank transfer and send online or through a physical store.

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    Things to Consider When Sending Money to Jamaica

    When sending money to Jamaica, there are certain things you need to bear in mind. Top among them are global economic performance, exchange rates, and regulatory requirements.

    • Global Economic Outlook - Most of the remittances to Jamaica originate from the United States and the United Kingdom. Currently, the U.S. economic outlook projects a slowdown which could affect remittances to Jamaica. In the U.K., Brexit has taken centre stage as the country plans to move out of the European Union. These developments can potentially throw the economic fortunes of Jamaicans in diaspora off balance.
    • Jamaican Foreign Exchange Performance - The Jamaican dollar has seen a few turbulent times causing the Bank of Jamaica to intervene by selling off foreign currency to authorised dealers and cambio operators. IMF is piling pressure on the government to pursue policy easing measures and possible pegging to the dollar to stabilise it.
    • Licencing of Money Operators - Ensure that the money operator you use is duly licenced by the Bank of Jamaica. The Bank of Jamaica Act 2005 is the main supervisory tool used by the Ministry of Finance to monitor money transfers. Cases of money laundering have been on the rise globally and the last thing you would want is for your transfer to be caught up in the regulatory crosshairs.

    With providers jumping in to take advantage of the expanding Jamaican remittance corridors, competition may see better services introduced and transaction fees falling. However, don’t take the providers word at face value. Ensure you get independent information on sending and receiving, and do your own comparison to find the best provider or method of transfer.

    Your Questions Answered

    What’s The Fastest Way To Send Money To Jamaica?

    The fastest way to transfer money to Jamaica is through Ria Money Transfer’s fast service. Ria Money Transfer’s fast service will see to it that your money reaches its Jamaican destination in a matter of minutes. Ria Money Transfer’s fast service also doesn’t cost too much more than the slow service. It also compares well to the other competitors when it comes to price.

    What’s The Cheapest Way To Send Money To Jamaica?

    The cheapest way to send money is through TransferWise. TransferWise charges an upfront fee that appears larger, but they more than make up for this with their absence of hidden currency conversion costs.

    What’s The Easiest Way To Send Money To Jamaica?

    The easiest way is also through TransferWise. TransferWise is a very simple service to use. All you have to do is tap in the amount of money and the destination. After that, you just complete the payment to TransferWise, then your money will be on its way to Jamaica. From there, it only takes a day or two to get there.

    The second thing that makes TransferWise great is how many countries you can send money from. This makes it more ubiquitous as well as more convenient for frequent travelers.

    Current Exchange Rates For Jamaica

    The current exchange rate for the Jamaican Dollar (JMD) is 140.5594 JMD per American Dollar (USD), as of the time this was written. The JMD reached a high of 141.1063 JMD per USD, and a low of 133.7016 JMD per USD over the last 90 days. The average exchange rate for the JMD was 137.9404 JMD per USD over the last 90 days.

    The JMD has held an average volatility rate of 0.76% over the last 90 days. This is a moderate volatility rate, but the JMD has gone through significant fluctuations over the course of the last two years. You can reasonably expect moderate, but somewhat unpredictable fluctuations in currency exchange rates to continue going forward, barring any unforeseen circumstances.

    What’s The Overall Best Way To Send Money To Jamaica?

    The overall best way is through TransferWise. TransferWise offers the best balance between cost, speed, and ease of use of the money transfer services in Jamaica. Furthermore, it’s very easy to use from so many different countries and doesn’t give users any real hassle. Because of its versatility and well-rounded offer, TransferWise is the best way to go.

    Looking to Send Money Somewhere Else?

    Sending money anywhere else in the world is as easy as sending money to Jamaica. If you're looking to send money to another country, here is the list of the most popular destinations.

    Jonathan Merry
    Written By
    Jonathan Merry
    Jonathan is the founder and editor of Jonathan is highly experienced in the currency transfer market, having previously worked in the FX trading industry, alongside being an avid traveller. Using his knowledge he identified a need for transparency and further education to help people save money on their money transfers, leading to the creation of