Your options for sending money to Rwanda are relatively limited but quite good. Regardless of what you’re looking for in a money transfer service, there should be some decent options available to you.
The current exchange rate for the Rwandan Franc (RWF) is 1064.564735 RWF per American Dollar (USD) as of the time this was written. The RWF reached a high of 1,064.5647 RWF per USD and a low of 1,021.0000 RWF per USD during the last 90 days. The average exchange rate over the last 90 days was 1,039.4326 RWF per USD.
The RWF had an average volatility rate of 0.68% against the USD for the last 90 days. This is a high volatility rate which has grown worse during the last 30 days. You can reasonably expect significant fluctuations to continue going forward, barring any unforeseen circumstances.
The fastest way to send money to Rwanda is through Ria Money Transfer’s fast option. With Ria Money Transfer’s fast option, your money will reach its Rwandan destination in a matter of minutes. The fast option is also quite affordable and it costs less than most of their slower competition. The main drawback to Ria Money Transfer is that some users complain of hassles and a platform which isn’t the easiest to use. When it comes to their fast option, you can be sure you’re getting a good deal when it comes to both speed and cost.
If you reside in the UK, then OFX is by far the cheapest option you have for sending money to Rwanda. OFX is an international currency conversion company that also allows people to send money abroad on its platform. With OFX, you pay a small percentage of each transaction which beats any competition by a large margin. The more money you send at once through OFX, the smaller the percentage they take becomes. The only catch is that they carry a minimum transfer size requirement which is far larger than any of the competitions.
If you don’t reside in the UK or don’t like how much money you have to send through OFX, Ria Money Transfer’s slow option is a great alternative. You don’t save as much money with Ria Money Transfer, but it is a ubiquitous company with rates that are very competitive.
The easiest way to send money to Rwanda is through Payoneer. Payoneer is great because you can switch between their different money transfer methods to suit your needs. With Payoneer, you have several options for sending money. We recommend you use Payoneer to send money to the recipient’s debit card, which offers greater convenience and security when compared to other methods. With this method, the recipient can withdraw the money right away upon the transfer’s completion. Payoneer also offers other options, including direct deposits into a bank account once you set your account up.
The overall best way to send money to Rwanda is through Ria Money Transfer. For the sake of getting the overall best deal, we recommend using their fast option unless you don’t mind waiting. Ria Money Transfer’s fast option gives you a great balance between cost and speed. If you are not in a rush and would prefer cheaper rates, their slow option is also alright. With Ria Money Transfer, you have a service that is more accessible and generally well-rounded.
Jonathan is the founder and editor of MoneyTransfers.com. 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 MoneyTransfers.com