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EUR to ZAR Currency Transfers
Almost a quarter of the adult population in South Africa are reportedly unbanked and without access to financial services, so recipients in this country have unique remittance requirements. Certain international money transfer companies cater to recipients in South Africa and are therefore able to provide the most intuitive and tailor-made solutions, with multiple pay-out choices for sending money to someone without a bank account.
Best Providers for Sending Money to South Africa from France
When considering how to send money South Africa from France there are some key aspects of the transfer that will impact the best provider for your needs.
There are plenty of international money transfer providers for France to South Africa. The fastest money transfer provider is WorldRemit. The cheapest provider we found is TorFx at 1.32% Above Mid-Market Rate.
If you’re looking for the best combination of price, speed, and reliability we recommend using CurrenciesDirect when sending EUR – ZAR.
This means that by using CurrenciesDirect for online money transfers to South Africa from France, 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 CurrenciesDirect for any reason, our comparison engine has found XE and Wise also to be very good options when sending EUR to ZAR.
If you are looking to make an international transfer, in some cases you might need to know the SWIFT/BIC code of your recipient in South Africa. If you’re unsure what it is, check out our SWIFT calculator to figure out the correct SWIFT code in South Africa.
The cheapest way to send money from France to South Africa
The cost of transferring money will depend on the value of the transaction and amount of ZAR you want the recipient in South Africa to receive.
In order to avoid high fees, you should consider the cheapest way to send money from France to South Africa.
TorFx has been determined by our comparison engine to be currently offering you the cheapest rates possible.
The fastest way to send money from France to South Africa
When sending money from France to South Africa, speed is one of the biggest factors you need to consider in terms of the service offered by different money transfer providers, particularly if you want to send money instantly. Currently, WorldRemit is the fastest way to send EUR – ZAR.
What payment methods are available when sending money from France to South Africa?
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 South Africa from France using credit card
To avoid high fees you can opt to use an online money transfer provider such as Wise to pay for your transfer to South Africa. Our guide on sending money using a credit card has more information.
Sending money to South Africa from France using a debit card
With CurrenciesDirect you can send money online to South Africa using your debit card. But before making a payment, make sure you understand all the processing fees in place. Our guide on sending money using a debit card has more information.
Using a wire transfer to send money from France to South Africa
Bank and international wire transfers are the most common ways of sending money South Africa 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 CurrenciesDirect 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.
When sending money to South Africa from France using bank account transfer you are paying for the outgoing fees, flat fees, currency exchange rate markup, and sometimes an additional incoming transfer fee. If you do decide to make an international transfer using wire transfer, you might be required to use a SWIFT/BIC code when completing your transaction. If you’re unsure of what it is, check out our guide on what is a SWIFT code as well as use our SWIFT code calculator to find the right SWIFT/BIC code.
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 CurrenciesDirect, XE and Wise.
Considerations for a EUR to ZAR Currency Transfer
Before sending money to South Africa from France, you should consider the following:
- The amount you want to transfer: It is likely that the more money you send to South Africa the more value you will get and more ZAR 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 EUR – ZAR 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 17.795977 and the lowest exchange rate margin is currently offered by CurrenciesDirect at 1.32% above the mid market rate.
- Hidden fees & charges: Before sending money to South Africa, make sure the provider you are using doesn’t charge any hidden fees. Our reviews of the top ranked providers CurrenciesDirect, XE and Wise will give insight here.
How to send money from France to South Africa at the best rate?
This one’s easy. Simply use our comparison table above to find the best provider to send EUR to ZAR. 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 EUR to ZAR in South Africa?
Your recipient has a few methods available to receive your money in South Africa. These will vary between providers, but it is possible to find services that will:
- Deposit ZAR directly into a bank account
- Enable the recipient to pick up cash a specific locations across South Africa
- Deliver money directly to their door
- Send ZAR to your recipient’s mobile wallet
If your recipient is going to collect or have the money delivered to them in South Africa, then they will usually need the following:
- A government issued I.D document
- The money transfer reference number
- Senders details and the amount of money sent
How much money can be transferred from France to South Africa?
The amount of ZAR you can receive from France 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 ZAR that can be received in South Africa or sent from France before making your transfer.
Keith is a digital specialist with a background in the financial industry, both as a marketeer and a journalist. Keith joined MoneyTransfers.com in order to take the business to the next level and expand our offering in multiple international money transfer markets.