Compare the best ways to send money to South Africa

The exchange rate determines how much ZAR the recipient will get when you transfer money to South Africa.

For example, today, the average exchange rate between US Dollar and Rand is 17.7391.

The rate constantly fluctuates depending on the destination currency and the market conditions, so timing your transfer can help you save a lot of money.

Sometimes, waiting a day or two can help you get more ZAR.

If you do need to send ZAR now, we suggest using Wise. Their rate for transfers to South Africa was the best over the past 6 months.

The cheapest way to pay for your transfer to South Africa is via Bank transfer with OFX. It is % cheaper than the next best option.

The way you pay affects the cost, speed, and the amount of ZAR you receive.

Here are your cheapest options:

*Based on a $2,000 transfer to South Africa using our 6-month comparison data. Transfer time is based on averages from multiple companies.

Avoid using a Credit card option for transfers to South Africa, as it’s the most expensive.

Credit card transfers to South Africa come with cash advance fees and higher interest rates on ZAR.

Xe, for example, charges $226.78 when paying with a credit card vs $0 via bank transfer by OFX.

When possible, avoid sending ZAR over the SWIFT network. Despite its name, SWIFT transfers to South Africa are slower with steeper fees.

Some services have limits on how much you can transfer, both minimum and maximum thresholds.

Different services might offer better rates or lower fees for different transfer amounts.

For example, we recommend using Wise if you need to send large amounts of ZAR abroad.

In general, the quicker you need ZAR delivered, the more it will cost you in fees.

Transfer speed to South Africa depends on the ZAR amount, the time you initiate the transfer, and your payment method.

Take, for instance, an urgent need to transfer $2,000 from the US to South Africa.

Overall, of 19 companies serving South Africa, Paysend is the fastest regardless of the deposit method, appearing 47% of the time in our searches.

For bank or debit card deposits, services like PayPal excel in this regard, offering near-instantaneous and cheapest ZAR transfers with $0 or $335.87 fees respectively and 4.1% markup.

Credit card transfers via Xe to ZAR can take up to a day with a $248.92 fee and 0% markup (keep cash advance fees in mind). This is based on 6-month data from comparisons on MoneyTransfers.com.

For most urgent transfers to South Africa, cash pickup will be the fastest, via Western Union or Ria Money.

Avoid SWIFT for ZAR transfers as it's slower due to intermediary banks in South Africa.

There are a few ways to send money to South Africa:

Online

You can send money to South Africa with a money transfer provider. You can either choose to use a managed service like an FX broker, or an online-only company.

We found that Wise is the overall best online money transfer provider according to our 6-month analysis. They’ve appeared 61.3% of the time for ZAR transfers in our search system.

App

Most money transfer services supporting South Africa transfers have an app, often, offering a better ZAR rate. You can use our guide to the best money transfer apps to find the one that fits your needs.

In-person

Cash transfers to South Africa in person via Ria Money Transfers or Western Union are almost always instant, but require the recipient to visit the nearest agent to collect ZAR.

Money orders

Another option is to send a money order using the postal service in your country. It is a less accepted method but often can be sent to harder-to-reach locations.

There are different ways to receive money in South Africa. You can make a direct bank deposit, send cash for pickup or home delivery, or use a mobile wallet.

If you want a direct transfer to your bank account, Wise offers the best service for bank transfers to South Africa.

And if you need cash right away, check if cash pickup is an option for transfers to South Africa.

Mobile wallet services and payment apps like PayPal, Revolut, and Xoom are popular too, but they come with more limitations and higher costs compared to money transfer providers like OFX.

Please also note that CashApp is not available in South Africa.

To receive money in South Africa, you will need:

• Valid forms of ID: this could be a National ID, passport, or driving license.

• Sender's information: the full name and address of the sender.

• Transfer details: the amount of ZAR to be received.

• Transfer reference number: will be needed for cash pickup or home delivery.

When you're sending or receiving money in South Africa, you have to be ready to share some documents.

The exact documents you need might vary by the company you use. Usually, you will have to:

• Show a government ID like a passport or driver's license.

• Give your contact details such as phone number and email address.

You will also need the recipients' details in South Africa. Sometimes this may include an IBAN or a SWIFT code depending on your payment method.

If you're making a large transaction to South Africa, a provider may ask you for proof of address (e.g. a phone or utility bill) and your source of funds (e.g. a bank statement).

That’s why we suggest Wise in this case. They know how to handle large ZAR transfers and will help you get things done fast.

There might be tax implications to consider when sending money to South Africa.

Some ZAR transfers may need to be reported to tax authorities, especially for larger amounts.

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