Find the best ways to transfer money to Liberia

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

For instance, today’s average USD to LRD rate is 177.1003 but the highest rate over the past 7 days was 176.9038 LRD/USD.

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

For urgent Liberian Dollar transfers, we recommend Wise. It consistently provides the best LRD rates.

How you fund your transfer affects the cost, speed, and the amount of Liberian Dollar the recipient will receive.

The cheapest way to fund your transfer to Liberia is with a bank transfer via Wise, which is 2.36% cheaper than the next cheapest service.

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

• Wise (bank transfer): Costs $60.74 + -0.93% markup on top of the LRD mid-market rate.

• (debit card): Costs $ + % markup.

bank transfer is the most expensive deposit method for Liberian Dollar transfers, so we recommend avoiding it to maximize the amount of LRD received.

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

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

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

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

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

To ensure your money transfer to Liberia goes smoothly, especially if moving large amounts of Liberian Dollar, use our comparison tool to find the service that best fits your needs.

The speed of sending Liberian Dollar to Liberia depends on factors like the amount of LRD sent, the chosen deposit and withdrawal methods, and when you send LRD.

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

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

• For the fastest transfers, use Xoom - Out of 3 companies serving Liberia.

• For bank and card deposits, use Xoom - Xoom provides fast and affordable LRD transfers, with fees around $0 for bank account deposits and $ for debit/prepaid card deposits, with a small 2.3% markup on the ‘real’ LRD 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 Liberian Dollar to be delivered urgently, services like Western Union, MoneyGram, or Ria Money will have it ready within minutes for collection in Liberia.

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

For LRD 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 Liberia, appearing in 1 comparisons involving LRD.

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

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

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

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

• Deposit to bank account - For direct bank deposits in Liberia, we recommend Wise. LRD will arrive directly to the recipient's bank account in Liberia.

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

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

When making large LRD transfers or sending Liberian Dollar 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 Liberia.

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

• Transfer Details: The amount being received in LRD.

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

• SWIFT Code / IBAN: This may be required for bank transfers to Liberia 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. Liberian Dollar 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 Liberian Dollar.

There may be tax implications and government-imposed limits on Liberian Dollar transfers.

Some Liberian Dollar transfers may be subject to gift tax, commercial tax, and other types of taxes.

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

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