Compare all the best ways to send money to Tanzania

The exchange rate plays a key role in determining how much TZS your recipient in TZ will get.

For example, in the past month average rate for USD to TZS was 2,637.8054 TZS.

Since USD-TZS exchange rates fluctuate with market conditions, waiting a couple of days could result in a better rate, giving your recipient more TZS.

If you need to make an urgent transfer, we recommend using Remitly, which has consistently offered the best rates for Tanzanian Shilling over the past six months.

The most cost-effective way to fund your transfer to Tanzania is through a Bank transfer with Remitly, which is 2.2% cheaper than the second-best service.

The way you fund your transfer to Tanzania impacts the cost, speed, and how much TZS the recipient will receive.

Based on our data from the last six months for a $2,000 transfer from the US to Tanzania, the following are your best options:

• Remitly with bank transfer deposit costs $0 and has a -3.76% markup.

• Wise with a debit card deposit costs $18.66 with 0.35% markup.

• Wise with a credit card deposit costs $21.57 with 0.35% added to the TZS exchange rate.

We advise against using Bank transfer, as they tend to be the most expensive option for TZS transfers.

Credit card transfers may incur cash advance fees and higher interest rates on TZS.

CC deposits also tend to be more expensive. For example, Wise charges $21.57 for credit card deposits, while a bank transfer via Remitly costs $0.

Whenever possible, avoid transfers via the SWIFT network to TZ. SWIFT transfers to Tanzania are slower and come with higher fees.

Instead, look for a cheaper option such as ACH or account balance.

Money transfer companies often have min and max limits on how much TZS you can send.

The amount you transfer can also affect the fees and the TZS exchange rate you receive. For instance, Wise is the best choice for sending large amounts to Tanzania.

Additionally, there may be government-imposed restrictions, commercial limitations, and other factors that influence the amount of TZS you can send.

This is why it’s really important to compare your options when transferring money to Tanzania.

The speed of sending Tanzanian Shilling to Tanzania depends on factors like the amount, timing, deposit, and withdrawal method chosen. Typically, faster transfers come with higher fees.

For example, based on a $2,000 transfer to Tanzania:

Use Paysend for fastest transfers

Of the 12 companies offering TZS transfers, Paysend consistently offers the fastest delivery times across all deposit methods, appearing 56 times in our searches over the past 6 months.

For bank account & card deposits use Wise

Wise offers fast and affordable Tanzanian Shilling transfers, with fees of around $11.76 for bank deposits and $Wise for debit card deposits, plus a small 0.44% markup on top of the TZS rate.

For credit card transfers use Wise

Based on our six-month search data, Wise takes up to one day to send TZS via credit card, with a fee of $21.57 and 0.35% markup.

For urgent transfers use cash transfer

If you need money urgently, we recommend cash pickup services through providers like Western Union or MoneyGram.

Avoid the SWIFT network

Avoid using SWIFT transfers for TZS transfers. Due to intermediary banks on the way to Tanzania, SWIFT is slower and comes with higher fees.

There are a few different ways to move money to Tanzania:

Money transfer services

You can transfer money online using an FX broker (managed service) such as OFX or an online-only company (self-managed) such as Wise.

Based on our six-month analysis, Wise stood out as the top money transfer company servicing Tanzania, appearing in 93% of TZS transfers in our search system.

Mobile apps and e-wallets

Most money transfer services that accept Tanzania offer mobile transfer apps, which often have better deals on TZS exchange rates.

You can check our guide on the best money transfer apps to find one that suits your needs.

Cash transfers

Cash transfers to Tanzania are sent in person through services like Ria Money Transfers, MoneyGram, or Western Union.

Transferring Tanzanian Shilling as cash is almost always instant but requires the recipient to visit a nearby agent in Tanzania to collect the TZS.

Bank wire transfers

You can transfer Tanzanian Shilling via your bank.

We strongly recommend not using your bank to wire TZS directly to Tanzania due to high fees and slow transfer times.

Instead, use the bank transfer deposit option with Wise and send TZS from there.

There are multiple ways to receive money in Tanzania. Picking the right one can save you on fees and speed up the TZS transfer process. Here are your options:

Deposit to the bank account

To deposit money directly into a recipient’s bank account in Tanzania, we recommend Remitly. They appeared in 79.8% of TZS searches as the cheapest option for bank transfers to Tanzania.

The card transfer will also land in the recipient’s bank account in Tanzania. Use Wise to deposit with a debit card at just $18.66 per transfer.

Cash pickup and delivery

If the recipient in Tanzania needs TZS urgently or doesn’t have access to a bank account in Tanzania, cash pickup or home delivery are good options.

Mobile and digital wallets

You can receive TZS directly into digital wallets like PayPal, though this often comes with more limitations and costs more compared to services like Remitly.

When sending money to a bank account or e-wallet in Tanzania, Tanzanian Shilling will arrive without any involvement from the recipient.

However, if you're sending TZS as cash or transferring large amounts to Tanzania, the recipient may need the following:

• Government-issued ID: A national ID of Tanzania, a valid passport, or driver's license.

• Sender’s details: The sender's personal details such as full name and address.

• Transfer Details: The amount of TZS being received.

• Confirmation No.: This is usually given at the time of transfer.

• SWIFT Code / IBAN: Occasionally required for bank transfers.

The exact documents required may vary depending on the money transfer company and the transfer method used.

When sending bigger amounts to Tanzania, companies may request proof of funds such as bank statements and address verification with the utility bill in line with AML (Anti-Money Laundering) policies.

We recommend using Wise to send large amounts of Tanzanian Shilling.

There may be tax obligations and government-imposed limits or restrictions on TZS transfers/payments to TZ.

Some TZS transfers could be subject to taxes such as gift tax or commercial tax.

Even if no limits or taxes apply, certain TZS transfers (especially large sums of Tanzanian Shilling) may need to be reported to the tax authorities in Tanzania or in your country.

When unsure, it’s best to consult with a tax professional in Tanzania or your home country to ensure compliance with the regulations.