Compare the best ways to send money to Mozambique

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

For instance, in the past month average exchange rate between the US Dollar and the Mozambique Metical was 63.8762 MZN.

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

If you urgently need the money in Mozambique, we recommend using Wise, which has offered the best MZN exchange rates over the last 6 months.

The cheapest way to fund your transfer to Mozambique is by using a Bank transfer with Revolut, which is 1.6% cheaper than the next best option.

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

Based on a $2,000 transfer to Mozambique 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 0.15% markup

• Debit card transfer with Wise costs $24.41 with -0.02% markup

• Credit card transfers with Wise costs $93 fee and comes with -0.26% markup

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

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

For example, Wise charges $93 when paying by credit card, compared to $0 via a bank transfer with Revolut.

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

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

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

For example, we found Wise to be the best option for sending large amounts to Mozambique.

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

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

The speed of transferring MZN to Mozambique 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 MZN, the more it will cost you in fees.

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

• Fastest provider: Among 10 companies servicing Mozambique, MoneyGram consistently offers the quickest delivery times across all deposit methods, appearing in 44.4% of our searches.

• Bank or debit card deposits: Services like Ria Money Transfer for bank account deposits and Wise for card deposits provide almost instant and cost-effective MZN transfers. Fees are approximately $4 for bank deposits and $Wise for debit card deposits, with a minimal 0% markup.

• Credit card transfers: Based on six months of our data, using Wise for sending MZN via CC can take up to a day and incur a fee of $93 with -0.26% 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 MZN transfers over SWIFT

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

For MZN transfers, you have the following options:

Money transfer companies

You can send Mozambique Metical 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 Wise is the overall best way to transfer money to Mozambique, appearing 88.9% of the time for MZN transfers in our search system.

App

Most money transfer services to Mozambique offer mobile apps, which often provide better MZN 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 Mozambique 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 MZN.

Bank transfers

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

There are several ways to receive money in Mozambique, 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 Mozambique, we recommend using Revolut. They appeared in 77.8% of the searches as the cheapest option for bank transfers to Mozambique.

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

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

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

However, if you’re sending Mozambique Metical 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 MZN 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 Mozambique Metical 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 Mozambique, we recommend using Wise.

There might be tax implications and government-imposed limits when sending Mozambique Metical to Mozambique.

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

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

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