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The best, fastest & cheapest ways to send money to Somalia

Compare money transfer services and find the cheapest and easiest ways to make money transfers to Somalia.

Learn how to secure the best SOS exchange rates at the lowest transfer fees, ensuring a smooth and easy transfer process.

If you just need the best service for SOS transfers, it is Wise. Out of 4 companies tested that support SOS, they appeared 100% of the time as the top-rated provider in our comparisons.

Otherwise, keep reading for expert tips, top SOS transfer deals, and everything you need to know about transferring money to Somalia.

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We found Wise to be the best way to send money to Somalia.

After testing and reviewing 4 money transfer providers servicing Somalia, Wise came out on top.

Wise appeared in 100% of searches for SOS transfers and was rated the best option among the 4 providers that support Somali Shilling transfers.

Wise offers quick transfers, adds a 0.01% markup on SOS transfers, and costs $11.17 in fees.

This makes it the best option for a mix of cost, speed & features for SOS transfers.

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How to get the best rate when sending money to Somalia

About money transfers to Somalia

Top rated for transfers from United States to Somalia
Wise
Total number of US - SO providers
4
Average cheapest fees & rate
Wise
Average fastest transfer
Ria Money Transfer
Average transfer time
Within minutes
Best for bank transfers
Wise
Best for debit card
Wise

Understanding money transfers to Somalia

1
Always compare your transfer options

Always compare your transfer options to Somalia, don't settle for the most popular choice.

Almost all services supporting SO will include the fees and the markup on the ‘real’ SOS rate.

It will heavily depend on your deposit method, delivery options, the amount of SOS you send, and your location.

Our comparison includes 4 providers offering money transfer services to Somalia.

2
Consider the SOS exchange rates
3
Use the right payment method
4
The amount and transfer limits matter
5
Consider the transfer speed
6
Pick the right way to transfer money
7
Receiving money in Somalia
8
Have your documents on hand
9
Understand the taxes

Wise: The cheapest way to send money to Somalia

Wise consistently offers the cheapest money transfers to Somalia.

There are 4 providers servicing Somalia, and Wise appeared as the cheapest option 15 times in our comparisons.

Wise charges $6.16 per transfer to Somalia, with a 0.02% markup on the SOS exchange rate. This is -0.7% cheaper than the second cheapest option.

To get the most out of your transfer to Somalia, use a Bank transfer deposit to maximize the amount of SOS received.

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Fastest way to send money to Somalia: Ria Money Transfer

Need money urgently? Pick Ria Money Transfer and get your funds to Somalia quickly.

Our data shows that Ria Money Transfer came up as the fastest way to transfer SOS in 40% searches on MoneyTransfers.com over the past six months.

Ria Money Transfer charges $4 in fees on average and adds a 2.8% markup, which is also 0% cheaper than the next fastest option.

Pair it with a Bank transfer deposit to get your SOS abroad fast and cheap.

Our ‘fastest’ way to transfer money to Somalia includes the transfer amount, deposit method, and transfer and withdrawal times.

The easiest way to send money to Somalia: Wise

Wise is a great option for convenience, speed & cost when sending SOS to Somalia.

Wise ranked as the top-rated money transfer provider in 100% of searches related to Somalia based on 6 months of comparison data from MoneyTransfers.com.

They offer transparent fees, charging $11.17 per transfer with 0.01% markup added to the SOS rate.

Getting started with Wise takes less than 3 minutes, making it a fast, affordable, and user-friendly choice for sending Somali Shilling.

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Need to send over $10,000?

For those big moves, competitive pricing & strong customer service are key.

Opt for a service proven with large transfers when size matters. For transfers over $10,000, your best bet is Wise.


While Wise may not always be the cheapest or fastest way to send SOS, it’s the provider that will keep you safe and relaxed while your money moves into Somalia.

Understand the costs of money transfers to Somalia

The cost of sending SOS depends on where you're sending from, the amount of SOS sent, deposit and delivery methods, transfer fees, and the markup applied to the SOS mid-market rate.

For example, if you're transferring $2,000 from the US to Somalia, you can expect the following:

Transfer fees to Somalia

Depending on the service you use to send Somali Shilling, transfer fees can be percentage-based, fixed, or a combination of both.

MoneyGram charges only $0.14 per transfer based on our analysis of 4 services supporting SOS transfers in December 2024.

Markup on SOS exchange rate

A markup is a percentage added to the SOS mid-market rate by a money transfer service (or a bank).

Wise offers the best SOS exchange rates by applying a 0% markup on the USD-SOS rate. This means for every US Dollar sent, you receive 573.2303 SOS minus 0% deducted from it.

Funding transfer to Somalia

How you fund your transfer to Somalia can impact the cost:

  • Bank transfers typically have the lowest fees, often costing up to $0.14 per transfer.

  • Debit cards may cost up to $19.22 per transfer.

  • Credit cards may come with cash advance fees, and increased rates, and can cost as much as $0 per transfer to Somalia.

Overall, Bank transfer is the cheapest funding method for SOS transfers.

Live SOS Exchange Rate

How to find the best exchange rate for Somali Shilling transfers

An exchange rate is a constantly changing value of SOS in relation to another currency. The exchange rate you secure impacts how much SOS you will get, so timing your transfer is essential to get the most out of it.

Mid-market Rate
1
= 571.64282 SOS

Let's dive into some recent SOS trends.

  • Over the past six months, the exchange rate from USD to SOS has seen some fluctuation. On average, it stood at 571.4998 Somali Shilling.

  • During this period, the highest value recorded for Somali Shilling was 573.2303, while the lowest was 570.7853.

  • Wise, which is our recommended service for sending money online to Somalia offers an exchange rate that is only 0.01% above the mid-market rate.

Want to secure the best Somali Shilling exchange rates?

Sign up for our rate alerts and we'll tell you when it's the best time to move your money to Somalia!

Payment methods available to fund your transfer to
Somalia

  • Bank transfers

    Bank transfers are often the default option for sending money to Somalia.

    By using a money transfer company available in Somalia such as Wise, you can send money via a bank transfer (or ACH) while benefiting from lower fees and more favorable exchange rates. 


    On average, Wise is the cheapest provider for bank transfers from the 4 we tested when sending money to Somalia.

    With an average fee of 15.84 SOS for sending money to Somalia, Wise offers a great combination of competitive exchange rates and lower fees.


  • Debit and prepaid cards

    Sending money to Somalia with a debit or a prepaid card is very simple with Wise.


    Wise is a leader in debit card payments to Somalia, competing among a total of 4 active money transfer companies.

  • Credit cards

    When it comes to sending SOS via credit card, emerges as our top choice of the 4 companies offering this service.

    Fee alert: using a credit card to transfer money often results in a cash advance fee being charged by your card issuer. That's why we recommend a bank transfer or debit card instead.

How we analyze the market

We track the cost, speed, and product offerings of the leading money transfer services available in Somalia.


Our comparison engine and algorithms evaluate providers based on over 25 factors, including transfer fees, ease of use, exchange rates, mobile apps, transfer times & customer support.

We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.

This thorough analysis helps you get the best available deal - every time you want to move money to Somalia.


We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to find the best service for your needs when sending money to Somalia

For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.

Money transfer company reviews

Staying safe with money transfers to Somalia

The key to the safety of your funds is to only transfer Somali Shilling to those you know and trust, as well as using a regulated money transfer company.

All the money transfer services to Somalia we recommend are safe and regulated by financial bodies.

If you're unsure about the key regulatory authorities in Somalia or your home country, refer to our directory of financial regulators.

FAQs

Find answers to the most common questions on our dedicated FAQ page.

Are there tax implications when sending money to Somalia?
Are there any limits on how much SOS I can send to Somalia?
Can I make regular SOS transfers/payments to Somalia?
How long does it take to transfer money to Somalia?
What are the fees and exchange rates for sending SOS from abroad?
Why can’t I use my bank to wire money to Somalia?
What is the official currency used in Somalia?
Can I transfer money to Somalia from any country?
What should I do if something goes wrong with my transfer to Somalia?
Can I use MoneyTransfers.com to transfer funds to Somalia?

Contributors

Artiom Pucinskij
Artiom Pucinskij is a seasoned financial content strategist who holds an impressive background in marketing from the University of Portsmouth. With years of dedicated experience in the personal finance and remittance sectors, Artiom has become an integral part of MoneyTransfers.com's growth.