MoneyTransfers
/Send money/Send Money to Jamaica

Best Ways to Send Money to Jamaica

Ensure quick transfer speeds, low fees, and competitive exchange rates when sending money to Jamaica.

Read on for reviews, expert tips, and everything needed for money transfers to Jamaica.

Sarah Edwards
Author 
Sarah Edwards
Sharon Bahravi
Editor 
Sharon Bahravi
10 minutes
February 9th, 2024
Disclosure
Best Overall
9.2
Wise

Wise is the top rated money transfer provider that usually appears in our search results to Jamaica.

Fastest Option
8.6
XE

XE tends to offer fast transfer times to Jamaica for many origin countries and send amounts.

Compare rates and fees for sending money to 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.

How can I pay for my money transfer to Jamaica?

With a money transfer provider, you’ll have an extensive selection of payment options available to you, including:

  • Bank transfer: You can transfer money directly from your bank account; however, this method can take a bit longer than using a credit or debit card

  • Credit card: Credit card payments speed up the transfer process, but they can also attract additional fees, and some providers charge extra for using a credit card

  • Debit card: A debit card also speeds up the process, provided you’re willing to pay the same fees as a credit card

  • Digital wallet: Depending on your provider, you may be able to link a digital wallet like Apple Pay, Google Pay, or PayPal

What is the best way to send money to Jamaica?

The best way to send money to Jamaica is through a bank transfer made using a money transfer provider. Currently, XE offers fast international transfers with a favorable exchange rate.

While bank transfers aren’t the fastest method, they’re usually the most cost-effective. If speed is a priority, you can pay with a credit or debit card. WorldRemit lets you send money within minutes by using this method. However, card payments may bring additional currency conversion and usage fees; credit cards may also charge large cash advance fees.

Bank transfers may be an option, though it’s best to avoid methods that rely on the SWIFT network. The intermediary banks each assess their own fees, which can result in unreliable transfer times and unreasonable costs.

How long does it take to send money to Jamaica?

The exact transfer time will depend on factors like:

  • Your payment type

  • Your transfer method

  • The amount you’re sending (large amounts may go through additional screening)

  • Bank cutoff times (which can delay your transfer until the next business day)

Some common apps offer the following transfer times:

  • XE: A few minutes (when paying by card)

  • WorldRemit: One to two hours

  • Western Union: One to two hours

These estimates are based on a USD 2,000 transfer. Your experience may vary depending on the transfer amount, the time of day, and the other factors listed above.

What is the fastest way to send money to Jamaica?

Senders quickly discover that the fastest way to send money to Jamaica is with a money transfer provider. These apps skip the unreliable SWIFT network and use their own network of banks.

Bank transfers can be completed within the same business day, often within one to two hours. And if you’re paying with a credit card, WorldRemit facilitates transfers within minutes with minimal added fees.

For fast cash, send money with a cash pickup. Money transfer providers can even help you find a convenient pickup location, and the cash will be available almost immediately upon transfer.

The search tool at MoneyTransfers.com will help you compare transfer rates and fees.

How much does it cost to send money to Jamaica?

To send money to Jamaica, you’ll need to account for the transfer fee as well as the exchange rate. For example, you’ll need to convert money from US dollars to Jamaican dollars when sending money from the USA. Fees and exchange rates can vary by provider, and both are important when calculating your total cost.

When it comes to fees, some providers charge a basic, flat rate. But others charge different fees depending on your transfer amount or method of payment.

The mid-market rate is the midpoint between the buying and selling prices of a foreign currency. This can be a helpful baseline when comparing the exchange rates of money transfer providers. MoneyTransfers.com compares providers against the mid-market rate to find the best option.

What is the cheapest way to send money to Jamaica?

Typically, the cheapest way to send money to Jamaica is by using a money transfer provider to complete a bank transfer. Just make sure to compare the exchange rate and transfer fee between providers to find the best transfer app.

Unless speed is critical, avoid credit and debit card payments. Even with a money transfer provider, card payments can bring additional costs. Some providers will even charge higher fees for card payments than for bank payments.

Avoid wire transfers and international money orders, especially those that use the SWIFT banking network. Your money can bounce back and forth between intermediary banks, each adding a fee. A money transfer app will use its own network for the fastest and cheapest money transfers.

Compare transfer times, exchange rates, and fees by using the search tool on MoneyTransfers.com.

What do I need to send money to Jamaica?

Before you can send money to Jamaica, you’ll need to provide the following:

  • Your personal details: If you create a money transfer account, you’ll be asked to give your full legal name, contact details, and a valid form of photo ID (such as a driver’s license or passport); your info will be stored in the app for future transfers

  • Your recipient’s info: Senders must provide the recipient’s name, contact details, and bank account info. This includes the SWIFT code (to identify the receiving bank) as well as the receiver’s bank name, branch location, bank account number, and routing number

  • Your method of payment: Providers typically let you use a bank account transfer, credit or debit card payment, or mobile wallet

What do I need to receive money in Jamaica?

In Jamaica, recipients can receive their money by providing a form of ID such as:

  • Jamaican National ID Card

  • Driver’s license

  • Passport

Recipients should also ensure the sender has all their bank account details entered accurately to prevent problems or delays in the transaction.

Do I pay tax on money transfers to Jamaica?

Senders don’t usually pay tax on non-commercial transfers, though USA residents must report large gifts to the IRS. The current threshold is $17,000 for singles and $34,000 for those married filing jointly.

Senders may have to pay tax if they meet either of the following criteria:

  • Transferring more than $10,000 from a business

  • Holding a foreign bank account containing more than $10,000

Additionally, Jamaica has a gift tax of 20% on gifts over JMD 5 million (USD 38,000).

Recipients are required to pay tax on any commercial transfers, which are classified as worldwide income. But Jamaica has no capital gains taxes, so there may not be additional taxes for large purchases.

What reasons do people send money to Jamaica?

Jamaica is close enough to facilitate immigration to the USA but distant enough to require a remote money transfer option. Family, friends, and even business associates might send money to Jamaica for such purposes as:

  • Paying medical bills

  • Covering tuition costs

  • Resolving debts

  • Managing payroll

  • Facilitating travel

  • Giving gifts

  • Making investments

MoneyTransfers.com can help you compare bank transfer providers so you can send money safely and securely.

Sending money to major banks in Jamaica

In Jamaica, you’ll find major banks that include:

  • Scotiabank Jamaica

  • CIBC FirstCaribbean

  • Citibank

  • First Global Bank

  • Sagicor Bank

  • National Commercial Bank

  • JMMB

  • Jamaica National (JN) Bank

These banks make it easier to transfer money to Jamaica, and some locations offer additional services such as cash pickup.

The USD to JMD exchange rate

Mid-market Rate
1
= 154.56276 JMD
Mid-market rate at: 00:44 UTC
USD/JMD Median: 154.687221 Low: 154.562760 High: 154.870735
Why Trust Us

Why Trust Us

Our thorough editorial policy demonstrates our commitment to carefully vetting every piece of information.

We also produce unbiased, detailed reviews of all the top money transfer services, helping you in making smarter, simpler choices. We're devoted to upholding the highest standards, providing you with accurate, current, and reliable content.

Take a look at our comprehensive editorial policy for more information about our dedication to integrity and transparency.

What apps can I use to send money to Jamaica?

You can send money to Jamaica using the following apps:

  • XE

  • WorldRemit

  • Western Union

  • HSBC

  • Capital One

Jamaican recipients can receive money using several popular digital wallets, including:

  • Apple Pay

  • Google Pay

  • PayPal

  • Venmo

  • MyCash

Even if the recipient doesn’t have immediate access to a bank account, they can still receive transfers using a digital wallet.

Use MoneyTransfers.com to find the right money transfer provider by comparing rates and transfer times.

Useful links for Jamaicans abroad

If you’re a Jamaican expat, you may want to bookmark sites such as:

As always, you can bookmark MoneyTransfers.com to stay informed about tax payments, money transfers, and more.

Sending different amounts of money to Jamaica

When sending money to Jamaica, your experience may depend on your exact transfer amount.

Sending under $1,000 to Jamaica

For small transfers, money transfer apps are the way to go. If you pay with a credit card, WorldRemit can provide lightning-fast transfers, though you can also use XE to complete same-day bank transfers.

Sending $1,000 or more to Jamaica

Most transfer providers are set up to handle transactions of a few thousand dollars. Sending more may cause you to run into transfer limits, especially if you pay by credit card. XE, for example, has a high transfer limit of $500,000 for bank transfers but only $3,000 for credit card payments.

Sending $10,000 or more to Jamaica

Transfer limits become more significant at higher dollar amounts. WorldRemit allows transfers of up to $5,000 in 24 hours, for example. Additionally, you may be required to report large transfers to local tax authorities.

Sending $100,000 or more to Jamaica

While some providers offer high transfer limits, you might consider an online broker like Currencies Direct or TorFX for high transfer amounts.

Send Money to an From Jamaica With These Guides

Choose which corridor to send money through:

FAQs

Can I trust the providers I find on MoneyTransfers.com?
Is it safe to send money to Jamaica?
Can’t I use my bank to send money to Jamaica?
Can I send money with MoneyTransfers.com?

Contributors

Sarah Edwards
Sarah is a proficient Content Writer who specialises in the financial sector. Her expertise lies in delivering clear, informative articles that help readers navigate the complex world of financial transactions and currency exchanges.