CVE to XOF
The official currency of Senegal is the West African CFA franc (XOF) and has been since 1945. When Senegal was granted independence from France in 1960 the African countries using CFA currency was split into the “Financial Community of Africa” – this covered 9 West African countries including Senegal and the “Financial Community of Central Africa” which included 6 Central African countries. At the time of writing, Senegal is one of the 14 African countries belonging to the Franc Zone.
Geographically, Senegal is located at the westernmost point of Africa and covers 196,712 km². Bordering the North Atlantic Ocean to the west, Senegal is served by multiple air and maritime travel routes making it a prime location for sea and air freight industries. The nation’s most important import and export industries are food production, chemicals and textiles.
Choosing the best service provider
When considering how to send money Senegal from Cape Verde there are some key aspects of the transfer to consider.
The cheapest provider we found is at Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using when transferring CVE to XOF.
This means that by using for online money transfers to Senegal from Cape Verde, you are likely to save on transfer fees and benefit from fast speeds – so your recipient will get more money and have it delivered in less time.
Alternatively, if you are unable to access for any reason, our comparison engine has found also to be very good options when sending CVE – XOF.
This recommendation was updated one minute ago.
The cheapest way to send money from Cape Verde to Senegal
In order to avoid high fees, you should consider the cheapest way to send from Cape Verde to Senegal.
has been determined by our comparison engine to be currently offering you the cheapest rates possible.
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The fastest way to send money from Cape Verde to Senegal
When sending money from Cape Verde to Senegal, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers. Currently, is the fastest way to send CVE – XOF.
What payment methods are available when sending money from Cape Verde to Senegal?
Most money transfer providers allow you to deposit and send money using various payment methods, but not all providers offer every option. Typically you’ll find the most common methods are bank transfers and card payments, but many providers also accept cash and some will even deliver funds straight to your recipient’s door.
Sending money to Senegal from Cape Verde using credit card
To avoid high fees you can opt to use an online money transfer provider such as to pay for your transfer to Senegal.
Sending money to Senegal from Cape Verde using a debit card
With you can send money online to Senegal using your debit card. But before making a payment, make sure you understand all the processing fees in place.
Using a wire transfer to send money from Cape Verde to Senegal
Bank and wire transfers are the most common ways of sending money Senegal as they are secure, reliable, and convenient. However, they often come with the slowest delivery times in case speed is an important factor for you. You can use to send money using a bank or wire transfer at a great rate as long as you’re happy for your transfer to take 1-2 days.
If you want to make an international transfer using wire transfer, you will need to know the SWIFT/BIC code of your recipient in Senegal. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in Senegal.
When sending money to Senegal from Cape Verde using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee.
On the other hand, you usually only pay a sender fee and a small exchange rate markup when using online money transfer services such as .
Considerations for a CVE – XOF Currency Transfer
Before sending money to Senegal from Cape Verde, you should consider the following:
- The amount you want to transfer: It is likely that the more money you send to Senegal the more value you will get and more XOF the recipient will receive. This is because any flat fee charged ends up as a smaller percentage of your transfer amount, and also because many providers allow you to negotiate a better exchange rate margin if sending large amounts.
- The CVE – XOF exchange rate margin: Money transfer providers charge a small percentage on top of the mid-market exchange rates in order to generate revenue. Current mid market rate is 5.895911 and the lowest exchange rate margin is currently offered by at above the mid market rate.
- Hidden fees & charges: Before sending money to Senegal, make sure the provider you are using doesn’t charge any hidden fees. Our reviews of the top ranked providers , and will give insight here.
How to send money from Cape Verde to Senegal at the best rate?
This one’s easy. Simply use our comparison table above to find the best provider to send CVE to XOF.
After that it’s just a process of making your transfer via the following steps:
- Click “Visit Site” inside our comparison table
- Register for an account if required
- Input how much you are willing to send
- Fund your transfer
- Receive & save an email confirming your transfer
How to receive transfers from CVE to XOF in Senegal?
Your recipient has a few methods available to receive your money in Senegal. These will vary between providers, but it is possible to find services that will:
- Deposit XOF directly into a bank account
- Enable the recipient to pick up cash a specific locations across Senegal
- Deliver money directly to their door
- Send XOF to your recipient’s mobile wallet
If your recipient is going to collect or have the money delivered to them in Senegal, then they will usually need the following:
- A government issued I.D document such as passport, drivers license or Senegalese National Identity Card
- The money transfer reference number
- Senders details and the amount of money sent
How much money can be transferred from Cape Verde to Senegal?
However, the amount of XOF you can receive from Cape Verde will largely depend on the money transfer service you are using. There are providers that specialise in smaller remittance payments, and providers who specialise in larger transfers.
You should also check if there are any government regulations pertaining to the amount of XOF that can be received in Senegal or sent from Cape Verde before making your transfer.
Senegal is a huge country with a vast population so it makes sense there is a diverse financial landscape. Senegal is a predominantly cash-based economy, however, a report on financial inclusion conducted in 2017 found that 32% of Senegalese adults held some kind of mobile money account, either with a traditional bank or money transfer service provider. Although this figure has increased massively since 2014 (when it was only 6%) it shows the people of Senegal tend to favour a combination of formal and informal service providers, both digital (bank transfer/mobile money) and non-digital (cash pick-up/delivery service).
For this reason, before sending money from Cape Verde you must consider the most practical and accessible payment method for your beneficiary in Senegal. Use our comparison engine today to compare the best options available.
For further reading on the service, check out our report on The Countries Most Likely to Support a Cashless Society.7d
How can I guarantee this money transfer provider will safely move my funds from Cape Verde to Senegal?
Before you arrange any kind of international money transfer you must first assess the security of the platform and provider you are planning to use. Whether you are making a bank transfer, online money transfer or cash-based transfer, you need to check the validity of the company’s security protocols, considering all reasonable measures to ensure the safety of your transaction. The best way to do this is:
- Reviewing user feedback on websites such as Feefo and TrustPilot
- Browse the company’s social networking sites to evaluate their customer support
- Check out our review of the company to see if it ticks all the boxes for you
- Have a read through our guide to The Safest Ways to Send Money
What are the most common reasons for sending money from Cape Verde to Senegal?
- Supporting family members: an estimated 1 million Senegalese people have emigrated to other parts of the world (as of November 2020) and a large percentage need to send remittance payments back home. Whether it is to financially support parents and siblings or due to better employment opportunities overseas which force families to live apart; there are many different service providers available, designed to suit the versatile requirements of international workers everywhere
- Paying for a wedding: weddings in Africa can sometimes take place over a week or a month, with often multiple ceremonies and many guests. This means some individuals will be sending money from Cape Verde to help pay for their own or a member of their family’s wedding
- Paying international suppliers: if you are a business owner with suppliers in Senegal you will need to use an international money transfer service fairly regularly, to pay for their services. There are a number of business-centric currency specialists who offer tailored service which fit the needs of your cross-border payments.